Larsen & Toubro Ltd (L&T) is sharpening its growth strategy around three core areas — defence, digital infrastructure, and power. Chairman and MD SN Subrahmanyan said these segments will define the company’s next phase of expansion.
In digital, L&T has invested ₹2,200 crore in third-party data centres, including a 30 MW facility in Tamil Nadu, and plans to scale capacity to 100 MW. It has also entered GPU-based cloud services through a stake in Chennai startup E2E, which works with NVIDIA.
On defence, L&T has expanded its scope under “precision engineering,” covering both military and space. Its K9 Vajra artillery system, developed with South Korea’s Hanwha, has been deployed in Punjab and Ladakh, with another 100 units planned. The company is also active in submarines and patrol vessels, though private players face stiff competition from public shipyards.
In energy, L&T is returning to thermal power after previously planning an exit, driven by rising demand and lagging public sector capacity. It has secured projects from BHEL and the Adani Group, while keeping the option open to divest its Nabha power plant. On nuclear power, Subrahmanyan said reforms are needed to allow greater private participation, as liability rules remain restrictive.
“Suddenly, the business that was supposed to be closed down is looking attractive again,” Subrahmanyan said of thermal projects, reflecting L&T’s readiness to adapt to India’s shifting infrastructure needs.
