Mumbai: L&T Technology Services Ltd, a unit of India’s largest engineering and construction company Larsen and Toubro Ltd (L&T), is looking at buying start-ups valued $50 million or less, chief executive officer Keshub Panda said, as the company prepares for an initial share sale.

L&T Technology is also focusing on the Internet of Things (IoT), and cloud and automation technologies, Panda said in an interview.

Ahmedabad: Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer and operator, on Monday said it will acquire the Kattupalli Port in Tamil Nadu from L&T Shipbuilding Ltd (LTSB) a subsidiary of Larsen and Toubro Ltd. The company did not disclose the financial details of the transaction.

Adani Ports said in a stock exchange filing that its subsidiary Adani Kattupalli Port Pvt. Ltd has entered into an in-principle agreement for the strategic acquisition. The transaction is subject to necessary approvals from the government of Tamil Nadu and the central government, and the port being demerged from LTSB, it said.

The construction arm of Larsen & Toubro won orders worth Rs 2,048 crore across various business verticals in October 2015.

The cumulative orders include deals bagged by its power transmission and distribution division, transportation infrastructure and buildings and factories unit.

Engineering and construction firm Larsen & Toubro (L&T)'s net profit increased 16 per cent to Rs 996 crore for the September quarter from Rs 861.7 crore a year ago. The profit was also two per cent higher than Bloomberg consensus estimates of Rs 975 crore. The profits were boosted by exceptional gains of Rs 309.6 crore on account of a stake sale in a subsidiary company, as well as in an associate company.

L&T's consolidated gross revenue rose 11 per cent to Rs 23,605 crore. International revenue at Rs 7,658 crore constituted 32 per cent of the total revenue. The group's consolidated order book stood at Rs 2,44,097 crore, higher by 14 per cent year-on-year, with international order book constituting 28 per cent of the order book.

Engineering and construction major Larsen & Toubro Ltd on Friday reported a 15.5% rise in its second-quarter net profit after generating more revenue from its infrastructure and power businesses, but missed analyst forecasts.

Larsen, a $15-billion business with interests in engineering, construction, financial services and logistics, said it made Rs Rs 996 crore in the three months to the end of September, up from Rs 861 rore a year earlier.

Citi upgraded Larsen and Toubro from ‘neutral’ to ‘buy’ and said negative news flow are priced in and now shares of L&T are trading below than their historical mean.

The share price of the company fell 17.7 per cent in the past three months till October 1 against 6.42 per cent fall registered by Sensex during the same period.

Engineering and construction major Larsen & Toubro today said its construction arm has won contracts worth Rs 1,376 core in power transmission and distribution business in domestic and international markets during this month.

“In the domestic market, the Solar Business has bagged multiple orders from a reputed solar power developer for the engineering, procurement and construction of 115 MWp solar installations in the southern part of the country,” the company said in a statement.

NEW DELHI: Engineering and construction giant Larsen & Toubro today said its IT services unit, L&T Infotech, has filed draft papers with regulator Sebi to go public.

"Larsen & Toubro Infotech Limited, a subsidiary of Larsen & Toubro Limited, has filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) on September 28, 2015 in order to undertake an initial public offering of its equity shares," it said in a BSE filing.

NEW DELHI: Engineering major Larsen & Toubro (L&T) today said its arm L&T Construction has bagged orders worth Rs 1,509 crore so far this month.

"The water and effluent treatment strategic business group of L&T Construction has won new water and waste water infrastructure orders worth Rs 1,509 crore in September 2015," L&T said in a BSE filing.

Bangalore: Larsen and Toubro Ltd (L&T), India’s biggest engineering and construction firm, has decided not to participate in the tender issued by GAIL (India) Ltd for constructing three new liquefied natural gas (LNG) carriers for use by state-run natural gas firm to ship the commodity from the US from January 2019, citing a clause that requires shipyards to hold equity stake of as much as 13% in the LNG carriers that are to be built locally.

L&T’s decision is a big blow to Prime Minister Narendra Modi’s Make in India project.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.