New Delhi, Nov 23: Larsen and Toubro is aiming to cross the magical figure of Rs 10,000 crore in sales turnover in the year 2004-05, largely through a boost in engineering and construction projects taken up abroad. L&T president (operations) J P Nayak told here that one-third of the targeted turnover would come from earnings from overseas engineering and construction projects.
"We want to increase export earnings to 40 per cent by 2005 from 20 per cent now."
The company's Rs 16,000 crore order backlog gives it the confidence that it would manage to cross the magical figure.
Nayak said the company was focusing on West Asia, South-East Asia and Africa for construction projects.
L&T has set a target of 25 per cent growth for its engineering, construction and contracts (ECC) division during next 2-3 years, he said.
About the expected sales during the current year, he said the company was confident of achieving at least the last fiscal's turnover if not more despite the demerger of cement division that contributed nearly Rs 2,200 crore towards the total turnover of Rs 9,600 crore in 2002-03.
Bureau Report