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Wednesday August 19, 02:23 PM
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Source: Hindustan Times
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L&T plans to form finance vertical
Larsen & Toubro (LT.NS : 1589.45 -41.65
) (L&T), India's largest construction company, is considering consolidation of its finance subsidiaries to form a finance vertical. The company's new general insurance business is expected to be a key part of the new vertical.
"A new finance vertical will emerge as one of the four verticals in the group, which will include most finance-related companies that are currently subsidiaries of Larsen & Toubro," said R Shankar Raman, executive vice president, finance, L&T.
The company is reorganising itself into four distinct verticals. These include the parent company, engineering, infotech and finance. The finance vertical will consist of L&T Finance, L&T Infrastructure Finance and L&T General Insurance.
