Technology will be a key differentiator and the company should adopt tech-driven solutions to succeed, L&T CEO and MD SN Subrahmanyan said in his new year address to employees.
Engineering and infrastructure conglomerate Larsen & Toubro (L&T) needs to focus on areas such as green energy, data centres and edutech, which are relatively new to the group, to remain competitive and relevant.
Technology will be a key differentiator and the company should adopt tech-driven solutions to succeed, L&T CEO and MD SN Subrahmanyan said in his new year address to employees.
“We need to remain competitive and relevant in the emerging business landscape. While we are well attuned to identify and chase opportunities in our core areas, we need to be sharp and smart in areas that are relatively new to us like green energy, data centres, edutech and SuFin,” he said in a town hall on Monday.
“These businesses will stretch us immediately but have an immense future and we need to pursue the same with vigour,” he added.
L&T is betting big on green energy and had earlier announced plans to invest up to $2.5 billion in the next 3-4 years to start with, across green hydrogen, solar and wind projects. The Mumbai-based company’s building and factories division had won several orders to set up data centres, while it already has a presence in edutech through L&T Edutech. SuFin is an e-commerce platform for B2B industrial products and services.
Stating that the future is bright and “great execution” should be the aim, Subrahmanyan said that technology would remain a key differentiator.
“So, the more we embrace and adopt tech-driven solutions and processes, the easier it will be to succeed. Digital technology brings in data and enables transparency and objectivity in decision making,” he added.
On the Environmental, Social and Governance (ESG) front, the company is integrating its goals with our business targets and intends to achieve water neutrality by 2035 and carbon neutrality by 2040.
“We cumulatively saved 150 million Kwh of energy, which is equivalent to powering 70,000 homes in a year and avoided emissions of 47,000 tonne CO2 equivalent in 2022, which is equivalent to planting five lakh trees. On the social dimension, we have touched 1.13 million lives through our initiatives on water and sanitation, education, health, and skill building and the target is to touch 1.5 million lives by FY26,” he added.
According to Subrahmanyan, at L&T, some of the company’s key projects are led by women, even as traditionally the infrastructure and manufacturing space has witnessed lower participation by women.
While talent acquisition is important, retaining good talent is even more critical by creating an enabling environment, he added.
Source: PTI
