AM Naik, group chairman of engineering and construction giant, Larsen & Toubro (L&T) said the company will start the process of listing of L&T Infotech in 2016.
L&T chairman said the company is expecting a revenue growth of 15% in financial year 2015. He said order intake will grow by 20% in fiscal 2015.
Naik expects the Modi government will improve investment sentiments. He said the impact of steps taken by new government would be seen in the August and September.
L&T chairman said the privatization in defence production has much larger scope.
L&T reported a 69.17% jump in net profit to Rs 27.23 billion for the quarter ended Mar. 31, 2014 as compared to the same period last year. Analysts, on average, had expected L&T to report a profit of Rs 17 billion.
Net sales of the company rose 11.08% to Rs 200.79 billion for the quarter ended Mar. 31, 2014 from Rs 180.76 billion in the year ago period. Market was expecting revenues at Rs 209.6 billion.
L&T registered a 13% growth in order book on year-on-year basis to Rs 1,629.52 billion as on Mar. 31, 2014. International order book constituted 21% of the total order book.
