L&T targets ₹15 lakh crore order book by 2031 with 15% annual growth

L&T aims to nearly double its order book to ₹15 lakh crore by 2031, finance chief R Shankar Raman said on Wednesday. The firm currently holds an order book of just under ₹8 lakh crore and expects to grow it at about 15 % each year.

Growth Plan

The expansion will centre on energy, electrolysers, semiconductors, data centres and manufacturing. L&T also plans to deepen its push into renewables, hydrogen and automation, and to grow its services business. Raman said that a manufacturing thrust, consolidation and automating construction infrastructure will make the company far stronger than it is today. He added that new work in renewable and hydrogen fields will further push the services arm forward.

Geographic Shift

International operations are set to outpace domestic ones. A few years ago India contributed about 75 % of revenue; today the split with the Middle East is roughly 50‑50. By 2031 the company projects India and the Middle East each to generate about 40 % of revenue, with the remaining 20 % coming from Europe, Central Asia and the Far East. Raman noted that growth has so far been in western India and that the eastern region could open up, but India will not return to its previous 75 % share even as it stays a growth market.

International Markets

Saudi Arabia is L&T’s biggest overseas market, followed by the United Arab Emirates and Qatar. The firm says almost all overseas sites remain fully functional despite the regional conflict.

Context

An order book measures the value of contracts signed but not yet executed, so a larger book signals future work pipelines. L&T is a major Indian engineering and construction conglomerate, and its shift toward energy‑tech and overseas revenue mirrors a wider move by Indian firms to diversify beyond traditional construction.