Next 5-year plan to create leaner L&T, says Naik

Larsen & Toubro (L&T) is working on its next five-year plan where the group is likely to be much leaner according to its executive chairman AM Naik.

“We have already started working on our next five-year plan (2016-2021). L&T has too many businesses and we need to reduce complexity by rationalising our portfolio,” Naik said at an event which commemorated Naik’s journey of 50 years in the company.
If I manage to achieve this, I would be a happy man, Naik added.

L&T’s market capitalisation has soared to Rs 1.6 lakh crore from Rs 5,800 crore in 2003 when AM Naik took over as the managing director of the company.

Talking about the challenges during his tenure, Naik said that one of the biggest he faced was the takeover threat.

“L&T had faced a takeover challenge from one of the big corporates during my tenure. After many negotiations and discussions, we managed to avoid it which was a big achievement,” Naik said.

We managed to convert the threat into an opportunity for the company, Naik added.