L&T building up agility, tech, capex for new focus

Mumbai: Larsen & Toubro (L&T) is doubling down on agility, capital discipline and tech-led diversification to future-proof its 85-year-old business empire. Backed by Rs 50,000 crore in cash reserves and virtually no debt, the company has lined up Rs 1.5 lakh crore in strategic capex over the next five years—focused on semiconductors, green hydrogen, data centres and real estate. In an expansive interview, chairman and managing director SN Subrahmanyan, 65, said the $30-billion conglomerate is reshaping its portfolio to ensure long-term relevance and profitability.