L and T forecasts slower growth amid Middle East unrest
Larsen and Toubro expects revenue growth to slow to 10-12 percent as Middle East conflict disrupts projects. Higher costs and delays will impact the first half.
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LARSEN & TOUBRO LTD expects revenue growth to slow to 10-12% this fiscal year as Middle East conflict disrupts regional operations. The India-based firm recorded 12% growth last year before losing $11.56B in market value following regional escalations. With 40% of its $77.74B backlog tied to the Middle East, geopolitical stability now dictates the execution pace for the infrastructure giant.
