L&T plans to unlock financial services arm soon
L&T will finalise a strategy to unlock the value in its financial services arm shortly and the process will be completed in fiscal 2012
By PTI |
HYDERABAD: Infrastructure major Larsen and Toubro (L&T) will finalise a strategy to unlock the value in its financial services arm shortly and the process will be completed in fiscal 2012, a senior company official said.
L&T CFO and member of the board Y M Deosthalee said that the company is working on the strategy and will finalise it in the next one-and-half month.
L&T has been mulling to unlock the value in some of its key subsidiaries including L&T Finance, L&T Infotech and L&T Infrastructure. The company has been planning to spin off these entities into separate companies and look at opportunities like IPO.
"We should be able to finalise the strategy in the next one month to one-and-half months time and the entire process will be completed by fiscal 2012," Deosthalee told mediapersons here after signing the Hyderabad Metro Rail project agreement with the Andhra Pradesh Government.
"We are taking up the financial services arm first for unlocking the value. Mode of unlocking, the timing and all other related issues are yet to be decided," he said.
Deosthalee, however, said the company will wait for the Hyderabad Metro Rail project to take shape before considering the value unlocking strategy for its infrastructure arm.
L&T has also been planning to foray into the banking sector by creating a new entity and waiting for the guidelines to be announced.
L&T CFO and member of the board Y M Deosthalee said that the company is working on the strategy and will finalise it in the next one-and-half month.
L&T has been mulling to unlock the value in some of its key subsidiaries including L&T Finance, L&T Infotech and L&T Infrastructure. The company has been planning to spin off these entities into separate companies and look at opportunities like IPO.
"We should be able to finalise the strategy in the next one month to one-and-half months time and the entire process will be completed by fiscal 2012," Deosthalee told mediapersons here after signing the Hyderabad Metro Rail project agreement with the Andhra Pradesh Government.
"We are taking up the financial services arm first for unlocking the value. Mode of unlocking, the timing and all other related issues are yet to be decided," he said.
Deosthalee, however, said the company will wait for the Hyderabad Metro Rail project to take shape before considering the value unlocking strategy for its infrastructure arm.
ADVERTISEMENT
L&T has also been planning to foray into the banking sector by creating a new entity and waiting for the guidelines to be announced.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
