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Larsen & Toubro (L&T) Chairman and Managing Director S N Subrahmanyan on Thursday informed shareholders on the annual normal assembly there have been no project-related leakages on the under-construction Ram Mandir undertaking and the Pragati Maidan tunnel, in New Delhi.
And, the corporate continues to take a number of steps to deal with labour shortages, he added.
On queries associated to finishing sure metro tasks in Mumbai, the chairman mentioned, in a lightweight vein, the corporate had accomplished its a part of the tasks.
“The pending works are with different contractors … it is best to ask the federal government to present us all of the works.”
Over the previous one yr, L&T was concerned as contractor for 2 tasks – the Pragati Maidan tunnel and the Ram Mandir undertaking, the place a leakage was reported.
“At Pragati Maidan they mentioned water was leaking. The tunnel goes beneath Pragati Maidan and on the perimeters are housing colonies and different authorities places of work. The tunnel is supposed for automobiles and buses, however they’re taking all of the water from the colonies and places of work and placing it there after which saying it’s leaking,” he informed shareholders.
“There is no such thing as a leakage in any respect. The gobaram (sanctum sanctorum) continues to be beneath development and won’t be accomplished earlier than March subsequent yr. The drain pipes are but to be constructed, and the water then comes into the temple … one Maharshi has mentioned there’s a leakage.”
On business’s labour woes
L&T made it to the headlines final month over the chairman’s public remark that the corporate was going through a scarcity of about 30,000 employees.
Subrahmanyan reiterated the quantity and attributed the scarcity to a number of causes together with India’s booming financial actions and the rising labour demand from West Asia.
“We now have arrange 9 skill-training centres within the nation and three affiliate centres by which we practice individuals in carpentry, masonry welding, becoming, and so forth. We practice about 25,000 labourers yearly, and 5,000-6,000 stay with a few of the different corporations or go to West Asia.”
Demerger and share break up
The chairman mentioned there have been no plans for any additional demerger in any of its companies. Chief Monetary Officer R Shankar Raman mentioned there have been no different belongings up for divestment within the present five-year plan, which ends in 2026. On queries associated to any attainable share break up, Raman mentioned: “The corporate will think about one as soon as the share value touches Rs 7,000-8,000.”
On Thursday, the L&T inventory closed at Rs 3,574.20 on the BSE.
First Printed: Jul 04 2024 | 7:49 PM IST
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