In a recent announcement, Larsen & Toubro (L&T) disclosed a significant surge in its workforce by 10 per cent over the past year, with nearly 8,000 new recruits in the fiscal year 2023-24. The engineering giant intends to sustain this momentum, with plans for continued expansion until 2025-26.
During a post-earnings conference call after the company’s Q4FY24 earnings declaration, R Shankar Raman, chief financial officer, L&T, elaborated that despite a slowdown in international order inflow witnessed in the fourth quarter of 2023-24 and anticipated sluggishness in domestic orders for the initial two quarters of 2024-25, L&T remains steadfast in its hiring initiatives. This decision is to ensure the smooth execution of its growing order book, valued at Rs 475,809 crore by the end of 31 March, 2024.
He emphasised that since about 38 per cent of L&T’s order book comprises international contracts, the company is poised to expand its global workforce further.
On 8 May, L&T disclosed its Q4 results, reporting a consolidated net profit of Rs 4,396 crore for the quarter ending March 2024. This figure reflects a 10 per cent increase compared to Rs 3,987 crore recorded in the corresponding period last year and Rs 3,621 crore in the same quarter of 2022-23.
Recently, Santosh Rai was appointed the new head-human resources, Larsen & Toubro Precision Engineering and Systems IC. He will be based out of Mumbai, Maharashtra. Known to be a meticulous, highly energetic and committed HR person, Rai’s 24 years of experience will stand him in good stead in this new role.
