L&T eyes 30% rise in sales next fiscal
PTI reported that with a healthy INR 68,000 crore order book, the construction major L&T, it expects to maintain 30% growth rate in sales in the next fiscal despite slowdown in the economy.
Mr JP Nayak whole time director & President (Machinery and Industrial Products) of L&T said that "There will be sale growth of 30% during 2008 - 09. We are confident that we will be able to maintain that for the next fiscal. That is our hope".
As on January end, L&T is sitting on a hefty order book for projects to be executed over the next two years. Mr Nayak, however, said that "A lot will depend on the orders coming in the next few months".
He added that overall the company has not been affected by the slowdown. He said that "About 75% of our business is project based which has not seen a slowdown as of now. Our order backlog is for over 2 years so in our case there is no slowdown as such as you can see in the first 9 months, our sales have grown by 40% over the last year."
Mr Nayak said that the firm's manufacturing components business has witnessed some slowdown. He added that slowdown may impact future order booking, but it all depends on how economic situation unfolds.
(Sourced from Press Trust of India)
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