Published at January 2, 2025 by InfraJunction
Infrastructure leader Larsen & Toubro has set a target of achieving 20% growth in its construction and mining machinery segment by the fiscal year 2026. The company also plans to double its sales within the next five years, driven by strategic investments and product launches.
Sales Doubling Vision : L&T aims to double sales in its construction and mining machinery business over the next five years.
New Product Launches : The mini excavator was introduced to support growth initiatives.
Strategic Investments : Enhanced service capabilities and operational efficiency are priorities.
Arvind K Garg, Senior Vice President and head of L&T Construction and Mining Machinery division shared, “Our plan for the coming fiscal year is to achieve at least 20% growth in the construction and mining machinery business. Additionally, we are committed to doubling sales and profitability within five years by investing in services and introducing innovative products like the mini excavator.”
L&T’s partnership with Komatsu Ltd, established in 1998, plays a pivotal role in its growth strategy. While Komatsu focuses on manufacturing hydraulic excavators and dump trucks at its Chennai facility, L&T handles distribution, customer interaction, and after-sales services.
“This collaboration allows us to leverage each other’s strengths. Komatsu manufactures, and we manage sales and after-market services. This synergy has proven to be highly effective,” Garg added.
L&T is pushing its sustainability agenda by ensuring most Komatsu machines are biofuel-compatible, running on B20 biodiesel (20% ethanol and 80% fuel). The company is also looking at upgrades to B30 biodiesel, which could further reduce operational costs.
Aggressive growth targets connected with innovative strategies make L&T's commitment towards developing India's construction and mining sectors.
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