Larsen & Toubro

Larsen & Toubro is the sort of company people in India reach for when a project is too big to stay simple: roads, industrial plants, power work, heavy engineering, and large construction jobs. By our assessment, its strength is breadth plus execution, because it can sit in the middle of complex infrastructure and delivery chains. The downside is that this kind of business is exposed to government spending, project delays, and the usual headaches of large contracts. In practice, it is an engineering-and-construction group first, with a footprint that goes far beyond a single product. Compared with smaller contractors, Larsen & Toubro has the scale and the technical range to handle harder jobs, which is where its reputation comes from. It suits people who need a serious infrastructure partner, and not anyone looking for a quick, simple vendor.