Larsen & Toubro is targeting compound annual revenue growth of 12% to 15% through fiscal 2031, using divisional boards to give managers more authority as the Indian group expands.
The company's Lakshya 2031 plan sets that revenue goal for fiscal 2026 through fiscal 2031. It also calls for compound annual growth of 10% to 12% in order inflows over the same period, according to L&T's fiscal 2026 analyst presentation.
L&T said its business verticals have been grouped into larger divisions overseen by boards, with the aim of simplifying decisions and supporting succession planning. According to Mint, the five boards are assigned to renewables, infrastructure, hi-tech manufacturing, utilities and metals, and energy (hydrocarbon). Each has six or seven members, Mint reported, and provides strategic guidance while individual businesses retain responsibility for execution and their profit-and-loss accounts.
L&T Chairman and Managing Director S N Subrahmanyan described the structure in an Aug. 10 company publication. The company had disclosed the divisional-board structure then; Mint reported the board count and sizes on Oct. 21. L&T says it began formalizing five-year strategic plans in fiscal 2001.
The growth target comes as L&T manages an order book of ₹7.79 trillion as of June 30, up 27% from a year earlier. Revenue for the fiscal year ended March 31, 2026, was about ₹2.86 trillion. In the quarter ended June 30, revenue rose 7% from a year earlier. At its July earnings call, the company maintained a separate 10% to 12% revenue-growth forecast for fiscal 2027.
Monish Chatrath, managing partner at MGC Global Risk Advisory LLP, told Mint that the boards' effectiveness would depend on clear authority and information sharing between divisional and group leaders.
L&T has scheduled its next earnings call, covering September-quarter and half-year results, for Oct. 27 at 10 a.m. ET (14:00 UTC).
