L&T falls on write-off media report

Tags: L&T, Companies
Shares in Larsen & Toubro Ltd fell as much as 3.5 percent after a business daily newspaper reported India's biggest engineering firm, was going to trim its Rs 1.7 trillion order book by about 10 percent, without specifying how it got to the estimates.

"We have five projects where we feel that the developers have not been able to resolve issues with the government. We feel it is prudent to remove these orders from the order book since things have not moved for two years or more," L&T's director and the head of construction and infrastructure unit, SN Subrahmanyan, told the paper.

A company spokesman declined to comment on the size of any potential write-off, but said L&T periodically assesses the health of its order book.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi’s new listing norms should protect small investors

    There has been a long-standing debate on what should be the liability of individual promoters and directors in case a company does not meet its obliga

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

Building smart cities the Indian way

Today more than half of the world’s population lives in ...

Rajgopal Nidamboor

The biology behind cultivated wisdom

We are our habits and our behaviour. We are our ...

Gautam Gupta

Why must innerwear be our best kept secret?

While women’s outerwear rules the marketing roost in India, unfortunately, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture