- Founded: 1938 in Mumbai, India
- FY 2025 Revenue: ₹2.60 trillion ($30.5 billion USD)
- Employees: 54,596 (as of March 2025)
- Market Cap: $56.15 billion (January 2026)
- Order Book: ₹7,332 billion (Q3 FY26)
Larsen & Toubro Ltd. ranks among India’s largest engineering and construction conglomerates. The company operates across multiple sectors including infrastructure projects, energy, hi-tech manufacturing, IT services, and financial services.
Two Danish engineers founded L&T in Mumbai. Today the company executes projects in over 50 countries. Its infrastructure segment generates the largest share of revenue. L&T also runs defence manufacturing operations and recently entered the space technology sector.
Larsen & Toubro History
Larsen & Toubro Co-founders
Larsen & Toubro Competitors
L&T faces competition from both domestic and global engineering and construction firms. The company competes across multiple sectors including infrastructure, power, and technology services with companies like Siemens and Tata Group companies.
| Company | Headquarters | Primary Business |
|---|---|---|
| Siemens | Munich, Germany | Industrial Technology, Energy |
| KEC International | Mumbai, India | Power Transmission, Infrastructure |
| Bharat Heavy Electricals (BHEL) | New Delhi, India | Power Equipment, Heavy Engineering |
| ABB | Zurich, Switzerland | Robotics, Automation, Power |
| Fluor Corporation | Irving, Texas, USA | Engineering, Construction |
| Samsung E&A | Seoul, South Korea | EPC, Engineering |
| Shapoorji Pallonji | Mumbai, India | Construction, Real Estate |
| Kiewit | Omaha, USA | Construction, Mining |
| Godrej Group | Mumbai, India | Diversified Conglomerate |
| Arcadis | Amsterdam, Netherlands | Design, Consultancy |
Larsen & Toubro Acquisitions
L&T has grown through both organic expansion and strategic acquisitions. The company targets businesses that complement its existing operations or provide entry into new markets.
In June 2019, L&T completed its acquisition of Mindtree, a Bengaluru-based IT services company. This was the first hostile takeover in India’s IT sector. L&T purchased a 20.4% stake from V.G. Siddhartha of Coffee Day Enterprises, then acquired additional shares through an open offer. The total acquisition gave L&T a 60% controlling stake. This move expanded L&T’s IT services business significantly.
In November 2022, L&T merged its two IT subsidiaries. L&T Infotech and Mindtree combined to form LTIMindtree. This created India’s fifth largest IT services company by market capitalization. L&T holds approximately 68.73% stake in the merged entity.
The company has also divested non-core businesses. In 2018, L&T sold its electrical and automation business to Schneider Electric for ₹14,000 crore. In 2022, L&T Mutual Fund was sold to HSBC. These divestitures allow L&T to focus on its core engineering, construction, and technology businesses.
L&T previously acquired stakes in various joint ventures. In 2013, L&T bought out Komatsu’s 50% stake in their construction equipment joint venture. The company has also pursued unsuccessful acquisition attempts for Satyam Computer Services and Patni Computer Systems in the past.
Larsen & Toubro Revenue
L&T reported consolidated revenue of ₹2.60 trillion (approximately $30.5 billion) for fiscal year ending March 2025. This represents a 15.37% increase over the previous year.
Larsen & Toubro Marketcap
L&T’s market capitalization stands at approximately $56.15 billion as of January 2026. The company ranks among India’s most valuable publicly traded firms.
FAQs
Who founded Larsen & Toubro?
Two Danish engineers, Henning Holck-Larsen and Søren Kristian Toubro, founded L&T in 1938 in Mumbai, India. They started by representing Danish dairy equipment manufacturers.
What does Larsen & Toubro do?
L&T provides engineering, procurement, and construction services. The company operates in infrastructure, energy, defence, IT services, and financial services across more than 50 countries.
Is L&T a government company?
No, L&T is a private sector company listed on the Bombay Stock Exchange and National Stock Exchange. It has no single majority shareholder and operates as an independently managed conglomerate.
How many employees does Larsen & Toubro have?
L&T had 54,596 employees as of March 2025. Including subsidiaries and contract workers, the broader L&T Group employs over 100,000 people across its operations.
What was L&T’s largest order?
In March 2025, L&T received a $4 billion order from QatarEnergy LNG for offshore compression facilities. This represents the largest single order in the company’s history.