AM Naik, Group Executive Chairman, L&T is very optimistic about the growth in the Indian market looking at the new government's strategies and policies. He feels all of that is in place and he feels that a quicker implementation of projects would happen.
Engineering and construction giant L&T is gearing up for a good FY15. The company has told shareholders that growth will be led by roads, airports and real estate businesses, both domestically and on foreign shores.
AM Naik, Group Executive Chairman, L&T is very optimistic about the growth in the Indian market looking at the new government's strategies and policies. He says in terms of policy vision the government scores 70 out of 100. Howerver the actual implementation will have to be seen. And for that just 100 days are not enough.
Naik said, there has been more alertness in the bureaucracy with the new government and hence quicker implementation of projects will take place and projects that were stuck for long are seen moving.
Looking that the projects that are coming up, he said even the power sector space one area that has seen a lot of projects being stalled. However, now with the government looking at clearing coal mines, at least 25,000 megawatt power plants would come up for bidding and that could open up opportunities especially for L&T.
Domestic nuclear segment is also picking up. There are 4 large nuclear power plants, 700 MW each in Haryana, that are opportunities coming up by the end of this year.
With clear plans on the Dedicate Freight Corridor by the government, Railway Projects are in focus for L&T. Naik feels L&T's consortium with the Japanese co is poised to win at least 20,000 crore worth of orders in DFC.
Other segments on L&T's radar was Water management and distribution, canal lining bids in India and at least 2500 crore worth of water projects in the Middle East.
The company is confident of its airport building capabilities and currently has 6 projects in its kitty. It is hopeful of bagging more projects in India and one in Gulf.
Monorail and Metro projects both in India and the Middle East countries are also on L&T's radar.
While Naik is optimistic on orders flowing in and projecvt bids opening in India, his biggest concern is on investments. He said if the government is looking at bringing up large infrastructure projects, they need to lure larger investors both domestically as well as international investors and offer them good returns on their investments, at least 16 percent when they are talking about in rupee terms or at least factoring in the currency fluctuation, it should be at least 8 to 9 percent and the government should work on that. This will be needed for capital to start flowing in.
Larsen stock price
On August 22, 2014, Larsen and Toubro closed at Rs 1536.55, up Rs 4.60, or 0.30 percent. The 52-week high of the share was Rs 1774.70 and the 52-week low was Rs 678.10.
The company's trailing 12-month (TTM) EPS was at Rs 62.86 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 24.44. The latest book value of the company is Rs 362.65 per share. At current value, the price-to-book value of the company is 4.24.
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