By
Mukul Yudhveer Singh
Notably, L&T acquired Graphene Semiconductor Services Private Limited (Graphene) for Rs 93 crore (about $12.9 million) in cash in 2018. The latter is a semi-conductor services design and consulting company, which had clocked in a revenue of Rs 66.3 crore in fiscal 2018
Larsen and Toubro announced that it is foraying into fabless semiconductor chip design. The company is setting up a subsidiary to do the same. An investment of Rs 830 crore has been approved for the same.
The company will target automotive and industrial chip design sectors first. There are no plans as of yet to invest in any kind of chip manufacturing. R Shankar Raman, L&T’s Chief Financial Officer, sees a lot of potential in fabless semiconductor design owing to its high-technology, lower capital-intensive endeavour.
Notably, L&T acquired Graphene Semiconductor Services Private Limited (Graphene) for Rs 93 crore (about $12.9 million) in cash in 2018. The latter is a semi-conductor services design and consulting company, which had clocked in a revenue of Rs 66.3 crore in fiscal 2018. The company had presence in India, Singapore, Taiwan, and Malaysia. It is headquartered in Bangalore and has an employee strength of about 500.
L&T achieved consolidated revenues of Rs 51,024 crore for the quarter ended September 30, 2023 recording a y-o-y growth of 19%, primarily aided by improved execution of the large order book and accelerated progress in the Projects and Manufacturing portfolio. International revenues during the quarter at Rs 21,898 crore constituted 43% of the total revenue.
For the half-year ended September 30, 2023, the Consolidated Revenues at Rs 98,906 crore recorded a y-o-y growth of 26% with international revenues during the half-year at Rs 40,921 crore constituting 41% of the total.