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Construction : Web Exclusive | December 2013 | Source : Construction Update

L&T to raise funds for its infra unit

To raise capital for its L&T Infrastructure Development Projects, the unit that builds roads, ports and other infrastructure, Larsen and Toubro (L&T), India’s biggest engineering company, is in talks with investors. The company is considering raising money from investors including sovereign and infrastructure funds by March. L&T intends to find additional sources for funding projects, reduce its own financial burden and raise its profile overseas with the listing of a unit. The step comes as L&T’s interest costs almost doubled in the year ended in March and its operating profit margin was the lowest in four years.
 
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