L & T Integrated Report 2020 21

INTEGRATED REPORT 2020-21
Sustainable progress
for
for aa better
better world.
world
Sustainable progress Contents
for a better world 2 About the report
4 Message from the Group Chairman
Making meaningful choices today is pivotal to building a better world. At

6-19 56-157
L&T, we have been a partner in India’s progress through events of historic The world of L&T Capital-wise performance
significance and hues – black or green – and have used them as an inflection
6 L&T overview 56 Natural capital
point to strengthen our own resilience and drive the global sustainable
8 Businesses segments 70 Manufactured capital
development agenda.
14 Presence 94 Intellectual capital
As we pass through another period of tectonic shifts triggered by a global 16 Marquee projects 110 Human capital
122 Social & Relationship capital
pandemic, we have sharpened our focus on improving performance
144 Financial capital
across environmental, social and governance (ESG) parameters. We are
undertaking synchronised efforts to reduce our carbon footprint and
enhance resource efficiency while strengthening our green portfolio. 20-29 158-167
Insights from the Leadership Governance
As ‘the builder of 21st century India’, we are revisiting our vision, policies,
20 Message from the CEO & MD 158 Governance process
frameworks, roadmaps and action plans to deliver 21st century solutions
22 Messages from 166 Organisation hierarchy
towards building a better future. the senior leadership team
FY21 GROUP HIGHLIGHTS 30-45 168-199

Value creation Business review
ORDER INFLOW
` 1,754.97
30 Value creation model 169 Construction
billion 32 Value creation process 180 Construction Equipment & Others
6% 34
37
Stakeholder engagement
Materiality assessment
187 Power
189 Heavy Engineering
40 External environment 192 Defence
ORDER BOOK
42 Risk management 194 Hydrocarbon
` 3,273.54 billion 196

198
L&T Valves
L&T Realty
8%
REVENUE 46-55
` 1,359.79 Strategy in action
billion
46 Strategy 200 Awards
7% 51 Reviewing our performance 202 Sustainable Development Goals (SDGs)
52 Sustainability Performance 207 GRI Content Index
PROFIT AF TER TA X (PAT ) *
54 Managing capital trade-offs 215 Assurance Statement
` 115.83 billion 221 Case studies

237 ESG Performance of Listed group
21% y-o-y
subsidiary companies
* Includes profit on discontinued operations net of exceptional items ` 46.18 billion

I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D
About the report STRATEGIC OBJECTIVES

S O1
Reporting scope Restatement Pursue value accretive growth of
Shareholders today are more cognisant of This is our fourth IR and the 14th consecutive The changes, if at all, are mentioned on the respective current businesses with faster growth of
an organisation’s sustainability and overall year of sustainability disclosures. We have a pages as notes. services business
value-creation ability rather than just mature system for compiling and reporting
financial performance. This paradigm shift our sustainability performance. A data- Queries may be directed to S O2
in shareholders’ evaluation process has led management software certified by GRI is Incubate new businesses to tap future
Mr. Anup Sahay
to the publishing of this Integrated Report used, along with techniques comprising growth opportunities
Head Corporate Strategy and Special Initiatives
(IR), a cohesive document that communicates actual measurement, computation and
Larsen & Toubro Limited
about our organisation’s strategy, governance, estimation (specified). SO3
Landmark A, 5th Floor,
performance and prospects, in the context of Enable business sustainability through high
This Integrated Report of Larsen & Toubro Suren Road, Next to WEH Metro Station,
our external environment and value creation focus on Environment, Social and Governance
Limited (L&T, ‘the Company’) is published in Off WEH, Chakala, Andheri East,
for our stakeholders. The Report expands the (ESG) parameters such as climate stewardship,
accordance with the Framework prescribed Mumbai 400 093, Maharashtra.
target audience from the primary provider circular economy, green businesses, green
by the International Integrated Reporting sustainability-ehs@larsentoubro.com
of financial capital to include employees, supply chain, employee and social welfare,
Council (IIRC).
customers, suppliers, local communities,
regulators, and policy-makers. This Report has been prepared in accordance
Assurance workforce health & safety etc.
with the GRI Standards: Comprehensive option. This Report is externally assured by Bureau Veritas. SO4
As one of the forerunners in sustainability
It encompasses L&T’s environmental, economic The limited assurance was conducted in accordance
reporting, we continue to retain all relevant Optimise the mix of businesses (EPC,
and social performance between April 1, 2020 with International Standard on Assurance
disclosures of a Sustainability Report while manufacturing, services) and geographies
and March 31, 2021. Engagements (ISAE) 3000 and Type 2 Moderate
enriching it with additional disclosures as (India, international) to de-risk the portfolio
Level of the AA1000 Assurance Standard 2008,
prescribed in the International Integrated The data presented in this Report is
covering qualitative and quantitative information. The
Reporting Framework. The report enables our verified through systematic internal and SO5
assurance statement is included in this Report.
stakeholders to analyse our efficiency across external assurances. The data for economic Identify sustainable solutions for non-core
six capitals such as financial, manufactured, performance has been extracted from L&T’s PAGE 215-219
businesses and assets earning sub-par returns
intellectual, human, natural, and social and Annual Report 2020-21.
PAGE 50
relationship with a detailed business model,
governance, risk management, outlook and Reporting boundary
strategy, focusing on value creation over the
short, medium and long term.
This report is for Larsen & Toubro standalone STRATEGIC ENABLERS
and key subsidiary companies. The reporting
scope encompasses our manufacturing S E1
locations, project sites, offices across India Our capitals Operational excellence for leadership in cost-
and overseas projects managed from India. competitiveness and world class execution
L&T’s companies within the scope of this Natural
report reflect the performance of EPC projects SE2
and hi-tech manufacturing and realty and
Capital
An annual reporting cycle has been maintained for our Industry leading capabilities in digital
Sustainability Reports since 2008, which is available on others (refer page 299 of our Annual Report technologies and analytics for productivity,
our website at 2020‑21). Listed subsidiaries and concession Manufactured ESG effectiveness and strengthening
business-comprising of Nabha Power Limited, Capital revenue streams
www.lntsustainability.com Power Development Limited, L&T Infrastructure
Development Projects Limited and Hyderabad Intellectual SE3
metro, other non-material subsidiaries and
Associate & Joint Venture (JV) companies
Capital Financial resources to enable growth of the
businesses and strong financial health to
whose performance is consolidated at Profit facilitate access to capital markets as and
After Tax (PAT) level-have been excluded from Human when required
Our third Integrated this Report. L&T’s electrical and automation Capital
Report, ‘Technology for business has been divested. SE4
Sustainable Growth’ was
released across online
Social and Relationship Talent and leadership pipeline to enable
platforms. Capital growth and business continuity
Integrated Report SE5

| L&T Corporate
Financial Capability development through
lntsustainability.com Capital R&D, absorption of new technologies
and partnerships
2 GRI Disclosures 102-45, 102-46, 102-47, 102-48, 102-49, 102-50, 102-51, 102-52, 102-53, 102-54 GRI Disclosures 102-45, 102-46, 102-47, 102-48, 102-49, 102-50, 102-51, 102-52, 102-53, 102-54 3
I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D T H E W O R L D O F L &T 2 3 4 5 6 7
Message from
the Group Chairman Our Company takes a 360-degree
view of sustainable development
that encompasses the social,
Our proactive approach to managing business with a primary economic, governance and
financial aspects of an
focus on stakeholder wellbeing has enabled us to overcome organisation. Our approach
challenges and imbued us with the spirit of resurgence. covers a wide spectrum – ranging
from progressive reduction
of carbon emission intensity
Dear Stakeholders, we have taken a number of proactive steps like at our campuses and project
in-house vaccination drives, lumpsum insurance sites, water conservation at the
We are passing through a period of simultaneous
for employees, educational and vocational support locations we operate in and the
challenges on multiple fronts – the impact of a
for family members of deceased employees, and phased induction of alternative
global pandemic, compounded by heightened
professional online counselling to help minimise the and recycled substitutes in
climate change concerns and a weakened business
impact of the pandemic on the families of affected our operations.
ecosystem. At L&T, we regard such critical occasions
employees. Employee morale has been sustained
as the trigger point for our resilience and inherent
in these trying times, enabling us to deliver on our
reserves of strengths to come to the fore. We also
business commitments.
see this as an opportunity to reaffirm our unwavering
commitment to our various stakeholders.
A sustainable approach towards
Battling the Pandemic growth
L&T has always responded swiftly and spontaneously At L&T, our enhanced focus on Environmental, Social
to issues of national interest. In the face of the and Governance (ESG) parameters has enabled
COVID-19 pandemic, we contributed in monetary and us to engage with stakeholders in a more holistic
material terms to mitigate loss of life and suffering. manner. Our concerted efforts in various areas of
In addition to a donation of ` 150 Crore to the PM sustainability, including mitigating climate change, are
CARES Fund at the onset of the crisis, the L&T Group yielding results and we will continue to demonstrate
has also allocated ` 39 Crore towards Covid care leadership in this field. Afforestation and biodiversity
initiatives including supplying test, medical and PPE are other fields where we continue to perform well. Our people occupy prime position in the I look forward to the coming years with cautious
kits to locations around the country. When the second Our Water and Effluent Treatment business has organisation’s hierarchy of stakeholders, and therefore optimism. We will continue to take care of the health
wave threw up the unexpected challenge of an acute planted over 2.3 Million trees during the last two continuous attention is given to development of and safety of our people while aggressively pursuing
shortage of oxygen, we responded by activating our years and we have 150,000 fully grown trees in talent and retention at all levels. Our sharp focus on opportunities for growth across key geographies.
global procurement arms, and commenced delivery of various campuses. Our focus on water, waste, supply employee engagement has resulted in a culture of
chain, material recycling, and enhancing our green This Integrated Report (IR) reflects our commitment
oxygen generators worth 35 crore to various hospitals continuous training and empowerment, adding value
portfolio adds to our sustainability quotient. to transparency and continuous dialogue with our
in India. to the employees and the organisation alike.
stakeholders. As always, we welcome your inputs on
Our construction business has converted many Values make the Company Performing amid uncertainty our disclosures across multiple parameters.
hospitals to Covid Care Centres. We have installed
smart technologies in over 20 major cities to help L&T has always prided itself on its strong value The pandemic has disrupted global economies,
state governments and local authorities in their system, which has become the hallmark of the industry and businesses. Despite these uncertainties, Mr. A. M. Naik
endeavour to contain the spread of the virus. organisation among stakeholders. Our core values we have managed to stay on the growth path, thanks Group Chairman
pivot around the principles and ideals based in part to our focus on ‘nation building’. We have won LARSEN & TOUBRO
L&T Cares for its people on independence, transparency, accountability, a number of orders to execute mega-scale projects of
responsibility, compliance, ethics and trust. In national importance – each requiring the advanced
People are our prime movers and the Company has recognition of our efforts, we received the ‘Grant level of technical and executional expertise that L&T is
made every effort to support its employees in the Thornton Bharat SABERA’ award for Best Integrated best known for.
fight against COVID-19. Apart from health safeguards Reporting in FY20.
and following COVID protocols at a corporate level,
4 GRI Disclosures 102-2, 102-5, 102-14, 102-16, 103-1, 103-2, 103-3 GRI Disclosures 102-14, 103-1, 103-2, 103-3 5
L&T Overview
Larsen & Toubro Limited is an Indian Vision Making a Mark – first, largest, tallest,
multinational conglomerate with and longest
diversified interests across core high- L&T shall be a professionally-
managed Indian multinational,
impact sectors. We are India’s largest - World’s largest coal gasifier - World’s biggest Fluid Catalytic
committed to total customer made in India and exported Cracking regenerator
technology-driven engineering and satisfaction and enhancing to China - World’s longest
construction organisation and rank shareholder value.
- India’s first indigenous product splitter
among the world’s top Engineering & hydrocracker reactor - Asia’s highest viaduct – built
Construction companies. L&T-ites shall be an innovative,
- Oil and gas platform projects for the Konkan Railway
entrepreneurial and empowered
For over eight decades, we have team constantly creating
executed to global benchmarks - World’s longest gas pipeline
gradually enhanced our integrated value and attaining global - World’s largest Continuous - World’s longest coal conveyor
Catalyst Regeneration reactor
capability creating sustainable value benchmarks. - Building an international class
- Simultaneous execution of
for our stakeholders. Our cutting- football stadium in 260 days
L&T shall foster a culture of clean fuel projects at eight
edge quality-driven offerings are refineries around India
caring, trust and continuous
designed with our large cross- learning while meeting
section of global customers at the expectations of employees,
core. For decades, we have been stakeholders and society.
actively contributing to building the
country’s image and stature across
the world. We are respected for our
high standards of professionalism and
corporate governance.
Presence in 31 countries
across the globe
6 GRI Disclosures 102-1, 102-2, 102-5, 102-7, 102-16 GRI Disclosures 102-2, 102-7, 102-16 7
Business Segments
Our ventures spanning critical industries aid in not only meeting crucial
economic requirements but also improve the quality of life of people in
multiple ways and create long-term value for our stakeholders.
Buildings & Factories Heavy Civil Infrastructure Transportation Infrastructure Power Transmission
(B&F) (HCI) (TI) & Distribution
(PT&D)
Our Products/Projects Our Product/Projects Our Product/Projects Our Product/Projects
Design and Engineering, Procurement and Metros, nuclear plants, hydel projects, ports, special Roads, elevated corridors, runways (airside Design, manufacture, supply, installation and
Construction (EPC) of projects ranging from airports, bridges, tunnels, defence infrastructure infrastructure), railway construction, railway commissioning of Transmission lines, substations,
hospitals, stadiums, retail spaces, educational electrification and systems, light rail transport underground cable networks, distribution networks,
institutions, IT parks, office buildings, data centres to power quality improvement projects, infrastructure
high-rise structures, mass housing complexes, cement electrification, fibre optic backbone infrastructure,
plants, industrial warehouses, test tracks and other solar PV plants including floating solar, battery energy
factory structures storage systems, mini/micro grid projects and related
digital solutions
Setting us Apart Setting us Apart Setting us Apart Setting us Apart
- ‘Turnkey solutions’ from ‘concept to commissioning’ - Capability and expertise to construct critical - Only Indian firm qualified to undertake integrated - Providing integrated solutions with inhouse design,
across the entire spectrum of urban infrastructure, and complex structures covering civil, structural, rail construction projects of Indian Railways global sourcing and digitally enabled delivery
including in-house design expertise using advanced mechanical and electrical works with international - Pioneer in introducing new techniques for the excellence
systems like BIM 4D, 5D and BIM 360 field and quality standards execution of rail projects with innovation, quality - Digitally driven, green tower manufacturing units
project management expertise - Rich expertise to build underground structures and speed e.g. mechanised construction with a capacity of more than 1.5 Lakh tonnes of
- Track record of building tall, large, complex and adopting various tunnelling technologies e.g., New tower components per annum
- First-of-its-kind training centre for rail construction
iconic structures across India and overseas. The Lotus Austrian Tunnelling Method (NATM), Tunnel Boring - One of the worlds most renowned Tower Testing
in the country
temple, Statue of Unity – the world’s tallest statue, Machines (TBM) and to erect super structures using and Research stations
- Well-equipped engineering centres which - In-house Battery Energy Storage System
Motera Cricket Stadium - world’s largest cricket innovative methods including incremental launching
offer end-to-end design capabilities including containerisation facility to offer large-scale
stadium, 11 national and international airports apart and full span ‘U’ girders to speed up execution
consultancy and construction engineering for all renewable integration solutions
from many other institutions have been built by B&F - End-to-end design and engineering capabilities for our offerings - Expertise in executing solar projects, micro-grid
- Forerunner in offering modular, mechanised all offerings including feasibility and detailed project
- Expertise to design and build full spectrum of electrification projects
processes for advanced construction technologies report, seismic qualification, geotech engineering,
highways including complex interchanges, elevated - India’s first 1200 kV and 765 kV Gas Insulated
such as Prefabricated Prefinished Volumetric blast resistance etc.
corridors and even race tracks Substation
Construction, Offsite Manufacturing, Structural Steel - Owner and operating of one of largest fleets of critical - Strong reputation and significant market share in
Construction, and 3D printing to fast track projects plant and machinery e.g. Tunnel Boring Machines, the India subcontinent, Middle East, Africa and
- ‘Plug-and-play’ capability to design-and-build world- heavy lift cranes, tower cranes, shotcrete machines, etc. ASEAN markets
class IT infrastructure, software parks and data centre - Global supply chain management cell to undertake
competitive sourcing of materials
PAGE 170 PAGE 173 PAGE 172 PAGE 175
8 GRI Disclosures 102-2, 102-7 GRI Disclosures 102-2, 102-7 9

Business Segments
Water & Effluent Treatment Smart World & Metallurgical & Defence Heavy Engineering
(WET) Communication Material Handling (HE)
(SWC) (MMH)
Our Product/Projects Setting us Apart Our Product/Projects Our Product/Projects Our Product/Projects Our Product/Projects
- Urban and Rural Water Supply - Offer an array of process - Smart Cities and Smart Mineral beneficiation, iron and Guns and armoured systems, Hydrocracker and Clean Fuel
- Industrial Water Supply technologies for water treatment Infrastructure steel making; aluminum, zinc missiles and aerospace systems, Reactors, Fluid Catalytic Cracking
covering conventional treatment and copper refiners and smelters; military communication systems, (FCC) Reactor and Regenerator
- Water Treatment Plants - Safe cities
and advanced treatment like specialty conveyors; stockyard unmanned systems, frontline Package, Coke Drums, Ethylene
- Sewage Treatment Plants ozonisation and granular - Cyber security
equipment; crushing systems and warships, auxiliary vessels, special and Propylene Oxide Reactors,
- Effluent Treatment Plants activated carbon. - Communication network and equipment; surface miners, sand naval platforms, submarines and VAM Reactors, Molten Salt Bath
- Wastewater Collection Network - Proven track record of offering telecom infrastructure manufacturing plants underwater platforms, weapon Reactors, Ammonia and Methanol
- Desalination total solutions spanning the entire - Military communications and engineering systems, Converters, Key Gasification
spectrum of the value chain – radar systems Equipment, Urea Stripper and
- Micro & Lift Irrigation Projects
right from tapping water through Reactor, Carbamate Condenser,
- Water Management intake structures to tertiary Waste Heat Boiler Package, HP
- Smart Water Infrastructure treatment and safe disposal of Heat Exchanger, Ti and Exotic
- Plant Water Systems the treated effluent through materials Heat Exchangers,
marine pipe Nuclear Power Equipment – Steam
- 24x7 Pressurised Water Supply
- Developing and adopting Generators, End Shields, Spent Fuel
- Non-Revenue Water (NRW)/ Canisters and Casks, Modification,
sustainable and innovative
Unaccounted For Water (UFW) Revamp and Upgrade (MRU) and
execution methods e.g.,
horizontal directional drilling and Critical Piping Spools.
micro tunneling for fast project
execution Setting us Apart Setting us Apart Setting us Apart Setting us Apart
- One-stop solution provider for - L&T Smart World has played - Dominant player in the country - Proven command and - Providing engineered-to-order
digital and innovative technology a crucial role in the National in EPC of metallurgical projects competence for more than equipment, solutions and critical
driven solutions in water and Smart City Mission offering - Provider of one-stop solutions in three decades piping to various industries
waste water management e.g. their robust solutions for ferrous and non-ferrous sectors - Offers specialised turnkey - Technology-driven, quick
hydraulic modelling, leakage improving the liveability index defence construction solutions turnaround solutions for Process
management, GIS asset in multiple cities and helping Plants offered by Modification,
- Seamless integration of
mapping, billing and master data more than 27 cities in Covid Revamp and Upgrade (MRU)
solutions through our
management etc. Control measures through business
IT business
technology interventions
PAGE 176 PAGE 179 PAGE 177 PAGE 192 PAGE 189

Business Segments
Power L&T Hydrocarbon Engineering Realty L&T Valves Construction

Equipment and others
Our Product/Projects Our Product/Projects Our Product/Projects Our Product/Projects Our Product/Projects
Turnkey solutions for coal-based and gas-based power FEED, EPCIC and turnkey construction of projects Real estate development Gate valves, globe valves, check Manufacturing, marketing and
plants, supercritical turbine generators, supercritical for oil and gas extraction and processing, petroleum offering mixed-use integrated valves, ball valves, butterfly sale of
boilers, enviro solutions, power block auxiliaries, refining, chemicals and petrochemicals, fertilisers, developments, residential valves, plug valves, control valves,
- Construction equipment and
heat recovery steam generators, steam turbines, cross-country pipelines and terminals complexes, commercial and retail automation solutions, after-market
mining machinery
engineering services, construction services, other spaces business
critical systems - Rubber processing machinery
for tyre industry
Setting us Apart Setting us Apart Setting us Apart Setting us Apart Setting us Apart
- In-house engineering, state-of-the-art - In-house engineering and R&D centre. Onshore - Developer with sustainable - Global presence, with two - Superior products and
manufacturing facilities, competency in and offshore construction and installation design philosophy. Total state-of-the-art facilities in Tamil excellent after-sales service
executing large and complex projects within and capabilities portfolio of over 70 mn. sq. ft. Nadu, India and two facilities in support
outside India - State-of-the-art all-weather waterfront Modular across residential, commercial the US and Saudi Arabia - Highly trained service
- Major player in new emission-control technologies Fabrication facilities at Hazira (India’s west coast), and retail segment - Caters globally to diverse personnel with well-equipped
such as Flue Gas Desulphurisation (FGD) Kattupalli (India’s east coast) and Sohar (Oman) - Expertise in developing sectors including some of the service facilities across India
- India’s first Ultra supercritical power project and an integrated manufacturing facility at Jubail integrated communities such in-house segments such as - Successful implementation
in Saudi Arabia as Seawoods Grand Central in defence, nuclear and aerospace of sustainability and safety
- Offerings in new areas of green energy, modular Mumbai initiatives
solutions, cutting-edge hydrocarbon technologies - India’s first Transit-Oriented - Industry leading
and smart differentiated solutions Development (TOD) manufacturing capabilities

Worldwide Presence
Offices Registered Office

Engineering and Construction Projects Campus* Construction Skills GLOBAL PRESENCE
Training Institutes 31 50
Product & Equipment Supply Power Plant
Manufacturing/Fabrication Facilities Shipyards
Agents Knowledge City
Leadership Development Academy
at 9 Locations Presence in number Locations in India
of countries
Corporate Technology and Engineering Academy
Construction Skills Training Institutes
* 'Campus' denotes facilities for design and manufacture * ‘Campus’ denotes facilities for design and manufacture
14 GRI Disclosures 102-2, 102-4, 102-6, 102-10 GRI Disclosures 102-2, 102-4, 102-6, 102-10 15
Marquee Projects
Rewari-Madar Railway, DFCC Al Rayyan Stadium
Changing the dynamics Gigantic stadium that upholds

of India’s freight movement Qatar’s unique identity
Dedicated Freight Corridors are game-changing We are executing more than 80% of works for Al Rayyan Stadium (Ahmad Bin Ali Stadium) These patterns resemble geometric shapes often
mega-projects of Indian Railways, aimed this mega project with CTP-1, CTP-2, CTP-3R (civil is a 40,000 capacity FIFA World Cup 2022 found in Islamic architecture and their impressive
at increasing the share of freight transport and trackworks) and EMP-4 (electrification) being venue at Qatar. It was built on the site of a intricacy reflects the exquisite handicrafts produced
through rail and reducing the transit times prominent packages. Civil and Trackworks is for deconstructed stadium. in Qatar. The stadium complies with the rules of FIFA
with dedicated tracks. This will help the a continuous section of 2,113 tkm, involving 228 with the complete field of play and spectator bowl
The stadium’s most striking feature is a glowing LED
Indian railways better meet the customer major bridges and 1,460 minor bridges while the areas airconditioned through under seat diffusers.
façade, comprising patterns that characterise multiple
requirements, and improve its carbon footprint- Electrical and Mechanical Works is for the entire The roof is designed with only peripheral columns to
facets of Qatar as a nation: the legacy and prestige
as well as the country’s- through energy section of WDFC (3,145 tkm) where we are employing provide an obstruction-free view to the spectators.
of the ruling family, the beauty of the desert, native
efficient and green transport. various state-of-the-art automated techniques. One Roof system houses state-of-the-art LED pitch and
flora and fauna, and local and international trade. A
section (Rewari-Madar, 306 tkm) has already been spectator lighting.
Western Dedicated Freight Corridor, covering a length fifth shape – a shield – brings together all the others,
commissioned, while other sections are currently
of 1,504 km, is designed to handle double stack representing the strength and unity that is particularly As part of the project, we have also constructed an
under trial runs.
containers with train speeds going up to 100 kmph. relevant to the desert city of Al Rayyan. external precinct and a dedicated district cooling
plant. The precinct spans soft and hardscaping,
internal roads leading to stadium, running track, cycle
tracks, horse tracks, car parks and houses six football
training pitches, one of which has athletic tracks
around pitch.
16 17
Marquee Projects
Setting global Engineering water lifelines
benchmarks in project for better irrigation
delivery The Megalift Irrigation Project (Cluster-XII)
comprises 16 lift irrigation schemes with
The Heavy Engineering arm of L&T dispatched 16 intake wells in river, 16 pump houses and
the first (out of four) 700 MWe Steam generators 8 substations scattered across various locations
for the Gorakhpur Haryana Anu Vidyut in Sundergarh and Jharsuguda districts of Odisha
Pariyojana (GHAVP) 1 & 2 project in 36 months, having the command areas between 500 Ha and
creating a new global benchmark in the nuclear 2,000 Ha. The project also includes 1,170 km
manufacturing industry. of closed conduit distribution network pipeline,
This hi-tech equipment was manufactured at L&T’s along with centralised SCADA operated outlet
state-of-the-art manufacturing facilities at Hazira management system.
and Vadodara Heavy Engineering Works (VHEW) This mega project aims to irrigate 21,300 Ha of
in a short period of time. The benchmark set is an upland areas during the Kharif season across the
outcome of dedicated efforts by teams of NPCIL predominantly drought-prone areas of western
and L&T, which ensured early delivery of the steam Odisha’s Sundergarh District. This translates into a
generator by 12 months with highest quality distinctive shift in the livelihood of the people by
standards, despite COVID-induced challenges. converting this region into one of the highest rice
producing basins in Odisha.
700 MWe Steam generators for GHAVP Bharatpur Pump House
Bridging the world Supporting India’s

of possibilities clean fuel transition
Constructed under Telangana’s Strategic Road With a view to strengthening LPG (liquified
Development Programme, the Durgam Cheruvu petroleum gas) security and ensuring availability
cable-stayed bridge will ease traffic flow towards of cleaner fuels in India’s North-East, Indian
HITEC City, reducing commute time from Jubilee Oil Corporation Limited (IOCL) as part of the
Hills to Madhapur from 30 mins to a mere Government of India’s Hydrocarbon Vision 2030
10 minutes and the distance from Mind Space to conceived of 0.74 MMTPA INDMAX (INDANE
Jubilee Hills by 2 kms. Maximisation) Fluidised catalytic cracker unit
and 0.23 MMTPA LPG treatment facility. IOCL’s
The cable-stayed bridge portion across Durgam
R&D unit developed the FCC technology and
Cheruvu Lake is 435 m long, including the
licensed through Lummus Technology, USA while
approaches at both ends, 25.8 m wide with
Merichem provides the LPG treatment technology.
52 stay cables. A unique aspect of this bridge is
that it has the world’s longest precast segmental To execute this project of immense economic
span of 233.85 m in concrete for a cable stay value, LTHE was awarded the contract in February
bridge. Except for the special cables (procured 2017, to be executed under an aggressive time
from Germany), every component has been line of 30 months. INDMAX BGR was successfully
sourced locally and thereby continuing our Make in commissioned on October 30, 2020 without any
India legacy. Construction of this unique structure compromise on safety and the project covering
entailed usage of 430 MT of high-tensile strand, over 9.5 Million safe man-hours.
26,600 cubic metres of concrete, and 4,800 MT of
steel and 290 MT of stay-cables.
Durgam Cheruvu cable-stayed bridge Indian Oil Corporation Limited Bongaigaon Fluidized Catalytic
Cracker Unit
18 19
I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D 1 INSIGHTS FROM THE LEADERSHIP 3 4 5 6 7
Message from the CEO & MD

Working together with the Government Social Responsibility
Historically, L&T has been viewed as a private sector Far from being a mandatory obligation, ‘giving back
partner to projects of national significance and to society’ has been ingrained in the L&T culture all
‘Revolutions’ of various hues – White, Green, etc., along. We do it simply because in our hearts we
The resolve to fight back We are closely involved with marquee projects feel it is the right thing to do. The Company spent
including a high speed rail network (popularly called ` 150 Crore in FY21 towards CSR activities spanning
and win. We are taking the ‘Bullet Train’), major roads and bridges and other water and sanitation, education, health and skill
milestone decisions to large scale infrastructure projects. We have been development – touching and transforming the
reduce our GHG footprint termed ‘the builder of 21st Century India’, and we lives of 1.2 Million people. At the Group Level, we
in line with national and are doing all we can to live up to that name. We contributed ` 150 Crore to the PM CARES Fund at
are also among the early movers when it comes to onset of the pandemic, and an additional ` 39 Crore
international protocols aligning ourselves with national missions and help was later allocated towards Covid care initiatives.
and improving resource the country advance towards the shared objective of
efficiency in our operations. inclusive growth. Central and state governments and Greening the Planet
We have sharpened government agencies therefore remain some of our
As I said at the start, the world is learning the hard
key stakeholders.
our focus on improving way about the cataclysmic consequences of climate
performance across all Straddling the ‘phygital’ world
change. All of us need to intensify our efforts to
re-green the planet. We at L&T are gearing ourselves
ESG parameters. There’s a new world out there, and it is ‘phygital’. It to deliver high performance in the arena of
is faster, more accurate and safer. Businesses were sustainable growth.
already migrating to this space before COVID-19, and
As we enter the decade of Ecosystem Restoration
Dear Stakeholders, Growth amid the pandemic the pandemic has accelerated the shift. At L&T, we
(2021-30) of the United Nations, we have already
There are two ways you can look at life around us. As are leading the change. Our IT and digital portfolios
Amid all the challenges, we continue with a made significant progress in terms of multispecies tree
a world where even as a pandemic raged, we were operate at the convergence of the physical and
sterling business and financial performance record. plantation of over two million in the past two years,
confronted with Green Swan events like cyclones, digital worlds. Over 50 digital solutions are either in
Order inflow for the year at ` 1,754.97 billion was creating urban forests in six locations and having
floods and other natural calamities. Or you could look production or being deployed at hundreds of project
achieved on the back of strong domestic wins in the one-and-a-half Lakh fully grown trees in campuses
at it more positively – as a world with the spunk to sites. Our teams have real-time visibility into machine
Infrastructure and Hydrocarbon segments. The L&T pan India. Our focus is to continue maintaining and
rise up, dust itself off, fight back and resolve to win. operations with over 11,000 construction equipment
Group recorded revenue of ` 1,359.79 billion during preserving biodiversity, so that natural ecosystems
And this is the view we at L&T hold. being connected. Meanwhile, new mobile apps have
FY21, a decline of 6.5%. The decline was mainly due are restored.
digitalised processes relating to safety, quality, activity
I believe, resilience in the face of adversity is one to slowdown of project execution and manufacturing completion and materials. Geospatial technologies and From economic indicators to the mood of the man
of the greatest attributes humankind possesses. activity, affected by lockdown-related disruptions in tools such as drones, Light Detection And Ranging on the street, everything seems to point towards
While we are conscious of the challenges ahead, we first half of the year. As on March 31, 2021, the order (LiDAR), 3D scanning and photogrammetry enable recovery. On our part, we are cautiously optimistic
also have the confidence in our ability to face and book at ` 3,273.54 billion provides multi-year revenue quicker and more accurate collation of geographic about the times ahead. The light at the end of the
overcome them. At L&T, we are more committed than visibility. Shareholder value was delivered through information. We are sure that ‘phygital’ holds a lot tunnel may be a distant one but it gives us a reason to
ever to face this global crisis and make meaningful healthy profit after tax which stood at ` 115.83 billion, more promise for all those who choose to explore it. hope for recovery and revival. We are conscious that
choices in our bid to resolve it. representing a growth of 21.3% over the previous at this juncture, it is incumbent upon us to redouble
year. During the year, the Company concluded the Fighting the pandemic challenge – together our efforts to maintain the trajectory of sustainable
ESG is the future divestment of its Electrical & Automation (EA) business profitable growth. As always, we count on the
including the sale of the integrated marine automation As a projects company, L&T has hundreds of
ESG has seen a surge in investment by governments support and guidance of all our stakeholders on the
solutions company, Servowatch Systems Limited. operational sites across the country and at global
and businesses worldwide. We have enhanced our challenging journey ahead.
locations. We ensured that over 160,000 workmen
focus on ESG with a new organisational structure and and their families at our project sites continued to
Protecting Lives, Safeguarding Livelihoods
expertise in the area. We are also revisiting our vision, receive essential supplies. Their habitations were
policies, frameworks, roadmaps and action plans on Governments and businesses the world over are Mr. S. N. Subrahmanyan
regularly sanitised and COVID-19 protocols were
ESG and our new roadmap will align with our current addressing the twin objectives of protecting lives CEO & MD
strictly followed. For our employees, we have initiated
5-year strategic plan – Lakshya 2026. and safeguarding livelihoods. At L&T, we continue a broad spectrum of measures that encompass
to do well on both fronts. Stringent safety measures financial, medical and insurance assistance as well as
We continue to enhance our engagements with
have been adopted Company-wide, across all our educational support. In specific terms, this covered
internal and external stakeholders in this space. Our
projects, plants and offices. This has resulted in a lump sum payment of ` 35 Lakh in the event of
roadmap and actions are being aligned with national
fatalities coming down by 40% within a year. While death due to COVID-19, financial assistance for
and international frameworks related to Climate
work-from-home continued in some of our functions, education and vocational training of family members
Leadership, Water Stewardship, Circular Economy,
project sites and manufacturing facilities saw graded of deceased employees. Through arrangements with
Green Supply Chain, Biodiversity, Green Portfolio, etc.
increase in capacity utilisation. Our employees and all reputed hospitals, we conducted vaccination drives
Our track record in these areas demonstrates that we
other stakeholders have shown remarkable resilience across the Company.
are well positioned for a step-change in our ambitions
and determination to overcome challenges and keep
to scale new heights.
the Company on the growth track.
20 GRI Disclosures 102-14 GRI Disclosures 102-14 21

Messages from
the Senior Leadership Team
A new paradigm L&T’s approach to sustainability covers a wide range Sustaining momentum this by reprioritising critical activities, automating
of materiality parameters on energy conservation, processes, and employing digital tools to manage
for business use of renewable energy, GHG emissions, through Business operations remotely. Thanks to our head start on the
water efficiency, employee safety and materials Resilience, Innovation and digital front, we were able to shift gears quickly and
Man is always tempted to seek lessons from management. Aligning with the rising trend of adapt better.
losses and extract meaning and message from the businesses world over, the Company is focusing on Determination
challenges we go through. In that sense, FY21 was growing its green business portfolio. This includes The year also saw us embark on a new strategic
both textbook and tutorial. We learnt to temper Design, Engineering & Construction of green buildings While the financial year gone by was an unsparing path of transitioning to Clean and Green Energy
our pride in our scientific, and specifically medical, and campuses, supply of renewable energy and one for businesses the world over, it was especially solutions in Hydrocarbon and its adjacent fields.
accomplishments. We were made aware of our carbon capture solutions, energy efficient effluent and tough on the hydrocarbon industry which had to ‘New Energy’ and ‘Operations and Maintenance’
limitations and weaknesses as a virus all but brought water treatment plants, Smart cities, Microgrids etc. contend with the double whammy of a supply glut have been identified as future growth engines and
the world to a halt. As part of its ESG objectives, L&T has commissioned and diminished demand exacerbated further by the we are gearing up quickly to capitalise on emerging
a supply chain outreach programme to promote pandemic. The upheaval saw capex cuts, deferral of opportunities in these areas.
In response to the threat posed by the COVID-19
sustainable practices and improve safety. tendering and project awards, and an overall sluggish Even as we waded through such difficult waters,
pandemic, L&T extended a helping hand across the
environment for business. we did not let slip our environmental and social
country. Our contribution covered a broad spectrum Stakeholder welfare and value creation continue to
– donating funds and Covid-care related equipment, be the cornerstones of our governance architecture. Yet L&T Hydrocarbon Engineering (LTHE) showed performance and continued to be vigilant about
and supporting state governments with technology As a professionally managed company with a large remarkable resilience and outperformed most of its our sustainability practices and CSR commitments.
solutions. We also built Covid-care infrastructure at and distributed shareholding, the core values of global peers. During the year, we secured the largest Multiple recognitions-including the top spot in Oil
a rapid pace, provided food and shelter to workmen the Company pivot around the principles and ideals EPCC contract awarded till date in the country in and Gas Middle East magazine’s 2021 ranking of EPC
and offered a range of medical, financial and other based on independence, transparency, accountability, the refining and petrochemical sector and bagged Contractors, FIPI’s EPC Company of the Year award,
support facilities to employees. responsibility, compliance, ethics and trust. two large value contracts, one each in onshore and and a fresh haul of Safety, HR, and CSR awards-bear
offshore segments. These wins helped us maintain a testimony to our efforts.
Shifting focus to the economy, FY21 tested the The Company is working on the integration of its
healthy order book and navigate a challenging year. Our experiences from FY21 will certainly help us tide
morale and resilience of all the constituents of the ESG goals with business targets and chart a 5-year
economic system. Despite the Government’s fiscal sustainable business roadmap. We target becoming The pandemic-led lockdowns brought on supply chain over the challenges and perform better in the current
support and the RBI’s accommodative liquidity a ‘Net Zero’ company, and will adopt best-in-class disruptions and threatened operations at numerous fiscal and beyond. For they have us better prepared
stance, India’s real GDP contracted 7.3% during practices to set industry leading standards.. junctures, and we had to devise means to ensure and more determined to grow and deliver value to
FY21. We view this setback as transitory, and remain they did not prolong project schedules. We achieved L&T and all our stakeholders.
Sustainability is the outcome of a collective
positive on India’s growth potential over the medium
endeavour. We seek your inputs and suggestions to
to long term. With most of the structural reforms
speed up the journey ahead.
revolving around formalisation of the economy having
been implemented, we are positioned to achieve
quality growth.
The bedrock of any economic system is an enabling
environment for sustainable growth for both
households and corporates. With this in mind, we
see many countries aiming for a ‘Net Zero’ target.
Similarly, the investing community is also looking
to integrate sustainability insights and data into
their traditional investment processes. This is also
prompting companies to critically review their
business models.
Mr. Subramanian Sarma

Mr. R. Shankar Raman Whole-time Director and
Sr. Executive Vice President (Energy)
Whole-time Director and Chief
Financial Officer

Messages from the Senior Leadership Team
Technology-driven We are not just experts in building monumental structures, Living in the era of Covid Going forward, we are aiming to monetize / divest all
but also build them green. We built the world’s largest the assets under Development projects to reduce debt
sustainable growth cricket stadium, the Narendra Modi Stadium, Gujarat, which and climate change and improve Group financial performance.
is an IGBC gold-rated green building. We have executed 82
At L&T, we always prioritise giving back to Society and
Sustainability has never been more essential on the projects on the green building concept with a total footprint Adding to the growing Climate change concerns
Environment. To preserve natural resources our factories
corporate agenda than it is now. Any business that wants of 104 Million sq. ft. till date, out of which four have been globally, continuity of Covid pandemic impact has
at Kansbahal and Kancheepuram have been made water
to reap long-term rewards must be environmentally competed in the last financial year. We are using technology further influenced the industry to re-think and re-align
neutral. This apart, we have started consuming power
conscious and ethical in its operations. In the new and digitalisation to conserve energy, both in terms of our business strategies to be future ready, resilient and
from renewable energy sources and also using energy
sustainable era, more and more corporates have electricity as well as water, across all our campuses. L&T’s responsible, both socially and environmentally.
efficient equipment, tools and illumination solutions
acknowledged the value of environmental policies Powai and Chennai campuses are highly energy-efficient.
We at L&T, albeit facing a lull in initial few months of to increase energy efficiency. Across the projects, we
and practices in achieving long-term sustainability,
Regular training of our workforce is conducted to foster the fiscal, have bounced back to catch up with the deployed sustainable alternate and green materials
with the goal of lowering their carbon footprint. The
environmental awareness and embed it in everything we business targets, thanks to the initiatives taken by every including Recycled Plastic ply and Modular Plastic
experiences of management of companies leading
do. We are integrating environmental protection across business and all-round support from the employees. Formwork to reduce consumption of wood.
in the field of sustainability provide several insightful
all our operational activities. Digitalisation furthers our Also, the boost from Government. in terms of fast-
lessons for other managers embarking on a move During the year, all the operational processes are
sustainability progress. Regular safety and quality checks and tracking of project awards, financial stimulus and a
towards sustainable practices. As a result, sustainable re-engineered with focus on technology, automation
audits using online apps and the digital stores initiative have well thought Union Budget have helped things to get
practices are moving from the realms of corporate affairs and digitization. 3D designs, BIM and EDMS were
helped us conserve nature by considerably minimising the back on track. A lag may be seen due to impact of
and corporate communications to the foreground of implemented to enhance the engineering delivery.
use of paper. We have managed to save 4.5 Million sheets second wave of Covid, however, we are hopeful the
business operations. Amid the uncertainty of the current Construction mechanization and modularization, use
of paper through our digital initiatives. All our sites have Government. will speed up the capex spending through
pandemic, sustainability becomes even more important. of AI, AR, VR, IOT, remote inspection were the key
incorporated the use of LED lights and steel bottles instead faster implementation of projects to maintain speed of
drivers to increase the Construction Productivity, Safety
Being the largest construction company in India, L&T of plastic bottles. Waste water management is being done economic recovery.
and Quality. Also, we have introduced a new course
has been using technology and innovation to achieve at project sites and the treated water is being used for toilets
Despite the tough year, we have had quite a few on scaffolding to underprivileged youth which can
sustainable growth. We have been a pioneer in the use and gardening. We are also rolling out the use of sensors and
positives in terms of business achievements. In Metals now enable them to meet the demand for certified
of supplementary cementitious materials such as fly ash solar lights to further save energy at some of our projects.
Business, we secured our first breakthrough order scaffolders required in the construction industry. Some
for making concrete. Reducing dependence on clinker Over time, this will become the norm for all our project sites.
in Africa apart from meeting domestic order inflow of the other initiatives include procurement of local
cement, a major Green House Gas (GHG) emitter, and
As we are going through a crisis that has engulfed the human targets. Going forward, the Metals business looks very materials with lesser carbon footprint, alternate sourcing,
using more of fly ash results in concrete with lesser
community, the priorities of businesses and organisations promising as almost all our clients, especially domestic, green supply chain, optimising transportation of
embodied carbon, which is good for the environment and
have undergone a major realignment. Big thinktanks have intending to expand their capacities further. Under material, increasing consumption of alternate materials,
a great way for safe disposal of fly ash. L&T’s Building &
already started regrouping and developing a sustainable value Development Projects portfolio, we have successfully tree plantation etc. being implemented to meet the
Factories business is the first entity in India to construct
chain with a greener outlook for the future. We intend to commissioned our very own Hydel power plant at objectives of ensuring low carbon generation. We are
a 2-storey building using 3-D printing technology with
continue our strides in sustainable development and are ready Singoli Bhatwari in Uttarakhand in December, 2020. also looking into designing optimal structures with
reinforcement bars. The building is made up of a locally-
to provide products and services to empower our customers Our Nabha Power plant was adjudged the best power enhanced design life and end-of-life usage of materials,
sourced 3-D printable concrete mix developed by L&T’s
in the ‘new normal’. We have always valued the importance plant in India by CII and Ministry of Power.L&T IDPL has which are pivotal to achieving sustainability. Our
own in-house team. We are well-positioned to push the
of leaving a better world for future generations and will successfully implemented 96% FasTag tolling across employees are our greatest strength and we take pride
boundaries of automated robotic construction in our
continue to work towards this goal. all the road assets and also achieved revenue targets in spending for them and for training of our workforce.
day-to-day construction activities such as concreting,
inspite of pandemic. The prestigious Hyderabad Metro
plastering, flooring, etc. We are also exploring the
Rail restarted operations after 6-months of shut down
possibilities of using factory fabricated structural steel
and we are certain that people of Hyderabad will
systems, factory cast floor slabs along with finish, pre-
prefer this state-of-art, safe and environmental friendly
assembled MEP service lines and factory assembled false
transport system as their main commute progressively.
ceilings and other modular techniques in the near future.
All these technologies are expected to be game-changers,
as automation of equipment will help us achieve higher
productivity and avoid wastages and rework, and
ultimately will help us conserve resources and
minimise pollution. It will also help us to achieve
superior quality as it will enable us to avoid
human error.
Mr. D. K. Sen
Mr. M. V. Satish Whole-time Director and
Whole-time Director and Senior Executive Vice President
Senior Executive Vice President (Infrastructure)
(Buildings)
Performance and growth In line with our pledge and commitment to build and nurture Resilient utility infra in the ‘Sustainable Sites’ is the mantra we follow at our
‘green’ belts, our campuses use various techniques like project locations and manufacturing facilities.
through Self-Reliance rainwater harvesting and staggered drip irrigation to stretch renewables era
every drop. The Miyawaki afforestation plantations at our Our operations are aimed at the reduction of GHG
If there is one lesson that the pandemic has taught us, it facilities at Talegaon and Coimbatore provide requisite flora Operating in the ‘emerging giants of electricity emissions and recycling of waste. In addition to major
is to sharpen our focus on diversifying supply chains and and a limited natural habitat for birds. Our Green House Gas demand’ such as India and other developing flagship CSR initiatives, we work in the vicinity of our
promoting domestic manufacturing. (GHG) emissions are consolidated at about 24,000 tonnes economies, we have an increased responsibility jobsites to improve social infrastructure, especially in
of CO2 equivalent and this is mitigated by the use of energy- to guide the growth of these countries on a low- providing education, water and sanitation facilities.
In the Indian defence sector, the pandemic and lockdowns
efficient technology and processes. Fossil fuel based energy emission path. Even now, 80 Crore of the world’s With projects running in 25+ countries, our initiatives
provided opportunities for policy advocacy and resolving
sources are being steadily replaced by renewable energy people do not have access to electricity, and where in diversity, equity and inclusion have won us laurels
a range of issues being faced by the industry. It also
sources across our campuses. These initiatives along with there is access, the per capita consumption is low, from customers and the community. The international
encouraged the adoption of digital processes, including
extensive wastewater recycling and innovative techniques to with unreliable power supply. We are committed Graduate Engineer Trainee programme is one
digitally enabled inspection of military systems.
reduce HVAC energy consumption, reaffirm L&T Defence’s to taking clean power to these people by building such example.
Wide-ranging initiatives taken by the Government position as an ambassador for a green environment. efficient, digitalised electricity networks and
during this period, enabled the private sector to play facilitating electrification of the related sectors. We are committed to extending sound ESG
Across our operations at Talegaon, Coimbatore and Hazira, principles in our dealings with customers and vendor/
a more meaningful role and make progress on a level
we have implemented skill-building initiatives. Our Technical With over 5 GW of solar PV plants having either been subcontractor partners and to promoting the
playing field. These initiatives promise to open up huge
Apprenticeship Scheme (TAS) provides skilling opportunities built or being built by us, our range of green offerings circular economy.
opportunities for technologically mature and competent
in multidisciplinary system integration. We recruit two- is broad and expanding. Be it the floating solar
Indian companies like ours, with established capacities Despite the pandemic, global investments in clean
and-a-half the number of trainees required and release the plants or the ones with bifacial modules and tracker
and an unmatched track record. energy transition exceeded half a trillion dollars in
unabsorbed trainees into the industrial ecosystem created by mechanisms, we leverage our superior technological
At L&T, we continue to enhance our role and our campuses in the surrounding areas. prowess and integration abilities to bring in land, cost 2020. We are better placed to contribute to this
responsibility in EHS by reaching beyond the boundaries and time savings to the developers. Our state-of-the- decarbonisation and transition journey and to the
During the year, we reviewed the systems and processes at achievement of sustainable development goals,
of the Company to customer sites and work-centres art container integration facility gives us the ability to
our skill training centre at Vishakhapatnam to enhance the especially the SDG 7.
of business partners. All the campuses of L&T Defence serve globally with intelligent, modularised battery
quality of the workforce created. We revisited the training
have an enhanced focus on renewable energy and have energy storage systems. Our Power Transmission and
content to make it more enriching and resourceful to match
implemented the zero-water-discharge policy. Emphasis Distribution projects have helped electricity to reach
the personality and behavioural development needs of
has been laid upon energy conservation, operational millions, and have resulted in a more efficient network
the trainees.
excellence, cycle-time reduction, leveraging the learning with the highest standards of reliability, reduced our
curve, cost-reduction through innovation in processes At Coimbatore and Vishakhapatnam, we enhanced the carbon footprint, enhanced disaster resilience and
for serial production, and achieving deliveries ahead quality of education and infrastructure in the village schools improved grid stability.
of schedule. These helped us to optimally utilise our and schools for special children adopted by us in the areas
resources amid adverse conditions and deliver superior around our campuses. We focused on equipping them with
performance during the pandemic year. better sanitary facilities, drinking water facilities, library,
e-learning and speaking walls, with an emphasis on STEM
education. Collectively, these initiatives have helped create
sustainable and inclusive growth and a better tomorrow for
all our stakeholders.
Mr. Jayant D. Patil Mr. T. Madhava Das

Whole-time Director and Whole-time Director and
Sr. Executive Vice President Sr. Executive Vice President
(Defence & Smart Technologies) (Utilities)

Excelling in construction practices in a bid to improve the control

Unprecedented challenges But I would say that this is an opportunity for all at
and efficiency levels of project execution. And the
the new normal pandemic has paved the way for larger dependence and opportunities L&T to rise to the occasion and face this crisis with
optimism. This is also an opportunity to revisit our
on these digital solutions such as WISA (online
business models, business processes, efficiency
FY21 was a unique year which started and ended workmen database) which has helped us immensely Climate change has been a burning issue for many improvements in the area of energy, water, waste,
amid the peaks of the pandemic that unfolded in identifying and approaching workmen with a years now. To this has been added the challenge of etc. We must work on new areas like the circular
unprecedented challenges globally and had a specific skill-set during our remobilisation planning; the pandemic of the last two years which, in a way, economy, which can improve revenue of the
material effect on the infrastructure sector. The Digital Chipset to track and monitor our P&M assets; has highlighted the power of nature and its ability to Company in the long term. New green portfolios
‘survival of the fittest’ indeed holds true under the and Geospatial tech, LiDAR and drone-based surveys strike and impact humanity. around current and upcoming areas will open doors
present circumstances, and has put the sustainability which helped us capture and monitor site data
Climate change has become one of the greatest to new possibilities for the Company.
of corporates to test – not only in terms of remotely during the lockdown. These innovative
financials but also in terms of social, economic and solutions are set to become the ‘new normal’ for us in threats to the future of mankind. The annual average We have recently taken a number of measures to
governance aspects. the future. temperature of the earth peaked in 2020 and it is strengthen our ESG function so that we can have
rising to a great extent every year. The concentration enhanced engagements with stakeholders, especially
Realigned Priorities Environment Sustenance of Green House Gases (GHGs), most notably CO2, is with customers and investors. I urge all L&T-ites to
rising in the atmosphere and is posing unprecedented focus on these areas so that we continue to excel in
Right from the onset of the pandemic, we had We stay committed to protecting the environment challenges to mankind. This has also seen a surge of our businesses.
realigned our priorities to the well-being of our and contributing to society by undertaking actions activities in past two years, with heightened focus
staff and workmen by adopting stringent safety in and around our work sites. During the year, we of powerful bodies such as G7. ESG has emerged as
measures across all our sites to keep our projects adopted sustainable construction practices that have a new focus area for companies. The US SEC and its
up and running. A separate Task Force was formed optimised or reduced the use of fossil fuels by using Indian counterpart SEBI have come out with tough
to support and address the critical needs of our more power grid supply to run our tunnel-boring measures. SEBI has recently mandated 1,000 listed
workforce such as hospitalisation support, dedicated machines, and by using the digital diesel dispensing companies to report their sustainability performance
isolation facilities, supply of vital medicines, oxygen platform and solar plants to power street lights, through BRSR.
concentrators and of course, vaccines. Once the well- weighbridges, toll plazas and project camps. We also
being of our permanent workforce was taken care of, focus on community development around our project
our second biggest challenge was to remobilise our sites by not only generating employment but also
migrated workforce by arranging for special transport providing education to children, scholarships to the
facilities and providing a slew of incentives through needy, and implementing initiatives for the health and
better facilities, healthcare, and a safe working hygiene of the people.
environment for them to feel safe and motivated
Even as corporates across the world adapt to manage
to come back at our sites. We also took proactive
this pandemic and its aftermath, the reality that
measures to balance the gap by identifying and
dawns is that the future is most likely to change
training the local workmen in the required skillsets
in more ways than we can envisage today. The
and through adaptation and implementation of
undercurrents of social contracts, environment,
mechanisation wherever possible.
sustainability, and digitalisation will get even more
So, even in the year overshadowed by uncertainty, accentuated to help us guard against the many
our realigned priorities and dynamic execution uncertainties in the form of Covid phases and other
planning ensured that we were able to turn in a such black swan events in the future.
creditable performance and register growth across
key parameters. During the year, we secured the
largest single construction contract ever awarded in
the domestic EPC market and continued to win a few
other strategic jobs of national importance and pride.
New-Age Technology
Over the years, we have been incorporating new‑age
technology and digitalisation into our traditional
Mr. Sudhindra Vasantrao Desai Dr. Hasit Joshipura
Whole-time Director and Sr. Vice President &

Sr. Executive Vice President Head-Corporate Center
(Civil Infrastructure)
I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D 1 2 VA L U E C R E AT I O N 4 5 6 7
Value creation model

Natural Capital Manufactured Capital Intellectual Capital Human Capital Social and Financial Capital
Relationship Capital
INPUT MATRICES
Water consumption: 9.7 Mn m3 Project Sites (No.): 834 R&D spend Permanent Employees (No.): 50,092 CSR spend: ` 1,500 Mn* Order book: ` 3,273.54 Bn
Energy consumption from Non- Manufacturing Locations (No.): 19 (cum last 3 yrs): ` 2,694 Mn No. of Engineers (BTech/MTech/ CSR partners (No.): 108* Net current assets: ` 575.56 Bn
renewable sources: 8,363,795 GJ Patents filed: 3 Diploma): 37,010 Total suppliers and Net fixed assets: ` 448.20 Bn
Energy Used from Renewable sources: R&D engineers and scientists: 767 Workforce (Contract Employees) contractors (No.): 236,170 Gross debt-equity ratio: 1.51:1
103,945 GJ Active consortiums Number of startup (No.): 320,299 MSME suppliers (No.): 5,782
Spend on environment: ` 85 Mn partnerships/engagements/engaged Employees covered under leadership Vendors/sub-contractors trainings
Materials consumed (MT) with + Number of collaborations with development programmes (No.): 789 (No.): 1,049
Cement: 2,519,031 global majors and universities/technical
institutes (combine): 21 Number of industry chambers
Sand: 3,156,441 members: 16
Ferrous: 1,112,545
BUSINESS HORIZONTALS
Lifecycle costing Lean operations Innovation Process improvement Digitalisation Value engineering Benchmarking Design thinking
Engineering Construction Technology Manufacturing

Oil & Gas Platform Hydrocarbon Plant IT Parks Hospitals Commercial Spaces Metro Rails Thermal Power Plant
Material Handling &
Stadiums Airports Solar PV Plant Hydro Power Plant Steel Plant Mining Equipment
Water Recycled (%): 57 Building infra created: 23 mn sq. ft. Patents granted: 1 Revenue/employee (productivity): CSR Beneficiaries (No.): 1.21 Mn* Group Turnover: ` 1,359 Bn
OUTPUT MATRICES
Savings in energy (KWh) Mobility infra created Value engineering projects: 101 ` 18 Mn/employee Contribution to Turnover*: ` 934.91 Bn
(cumulative): 128 Mn Roads: 2,277 lane km Revenue in FY21 from Attrition Rate: 18.26% Exchequer: ` 108.33 Bn* PBIT*: ` 102.37 Bn
GHG emission (tCO2e): 751,884 Railways:60 track km new/emerging businesses started in Employees Trained: Awards (No.): 42
Mass Transit: 1.8 km Dividend payout: ` 50.56 Bn
GHG emission Intensity last 3 years: ` 11,984 Mn 12 Man hrs/employee/yr Appreciation certificates (No.): 88
Bridges and tunnels: 2,000 m Return on equity: 16.25%
(tCO2e/Bn): 804 Accident-free man hours: Joint projects (No.): 14
Power infra created 1,037 Mn hrs
Material reused/recycled (MT): Transmission lines: 4,589 km No of complaints received: 48
Steel: 2,498 Solar power capacity: 312 MWp *As per the scope of this IR
No. of complaints resolved: 46 Others: for L&T Group
Zinc: 155 Water and sanitation infra created
Crushed sand: 1,612,301 Irrigation capacity: 1.3 L ha
Water pipelines: 12,198 km
Water treatment capacity: 814 MLD
Factory output (i.e., total production in
the reporting year) (B&F, PT&D, MMH,
HE, Defence, LTHE, Valves): 373,964 MT
Green portfolio (Revenue): ` 277 Bn

Note: All figures are within the scope of the IR *Standalone CSR As of 31st March 2021
30 31
Value creation process

Our value creation process assesses our operating context, identifies the
key business risks, evaluates the relationship that are critical to our value
creation abilities and assesses the availability of our resources.
8
Sustainable stakeholder
1 value creation
Dynamic business
Assessing the external 5 environment
Sustainable returns to
shareholders and investors
environment Our capitals
Deliver sustainable products
2
Natural and solutions
Identify key risks and
framework
Robust risk management
Patents, copyrights
Manufactured
opportunities
6 Increased social value delivery
Intellectual Key
Stakeholder
Formulate Strategic objectives performance
partners
3 indicators
Strategies SO1, SO2, SO3, Safe workplace
Stakeholder Human SO4, SO5 ensuring zero harm
engagement 6 Strategic enablers
GHG emission reduction
Social and relationship SE1, SE2, SE3,
SE4, SE5
4 Maintaining environment
Evaluate the impacts Financial commitments
of material issues Sound corporate

Engaged and diversified
7 workforce
governance practice
1 External environment 3 Stakeholder engagement 5 Capitals 7 Governance
The environment in which we operate including Our success and business sustainability depends Our resources and relationships which are critical We are committed to the highest degree of
the economic environment, global pandemic, on the support from our stakeholders and makes for us to create value and are classified into six ethics and compliance. We ensure transparency
climate change impacts, infrastructure growth it imperative for us to understand their needs and capitals. We provide inputs under each of the across business processes and remain accountable
cycle among others. interests. capitals to drive our business process. to stakeholders.
PAGE 40 PAGE 34 PAGE 56-157 PAGE 158
2 Identifying risks and opportunities 4 Material issues 6 Strategic objectives 8 Key performance indicators
The key objective is to identify key risks associated Material issues have the potential to impact our In line with our overall strategy, we prioritise the We have defined the financial and non-financial
with the business and their impact on our strategy value creation and achieve our strategic objectives. strategic objectives which help us in achieving our KPIs to measure the impacts of our strategy
and value creation process. PAGE 37 overall organisational goals. execution over the short, medium and long-term.
PAGE 42 PAGE 46
32 33
Stakeholder Engagement
A regular timely dialogue with stakeholders is important for us to
understand their concerns and act accordingly. We are able to enhance
value creation by listening to our stakeholders and understanding what
really matters to them. Key interest areas are pointed through our regular
dialogue and we are able to manage risks and opportunities proactively,
and set clear goals to deliver long term shared value.
Shareholders and Investors Employees

L&T’s Interaction and L&T’s Interaction and
Engagement Approach Value creation Engagement Approach Value creation
We interact with our shareholders - L&T is India’s largest E&C We connect with our employees - We focus on attracting and
and investors during quarterly company with ` 1,360 billion through regular communication, retaining talent. We promote
calls, face-to-face meetings, annual revenue and ` 1,992 billion project updates, town halls, employee wellness, functional
general meetings to provide market capitalisation. Solid departmental meetings and and soft-skill development
them relevant information and financial performance connect sessions where employees programmes, leadership
Material Topics seek their perspectives on the irrespective of challenges Material Topics voice their ideas and concerns are development programs,
Company’s performance and Consistent credit ratings CRISIL: heard. We have enterprise-wide continuous improvement in
- Business performance - Career growth
strategy. We have set up investor AAA/Stable; ICRA: AAA (Stable) employee portal called ‘L&T Scape’ programmes for structured
- Improved Return on - Employee benefits
grievance channels along with PAGE 141 for regular connect. learning and development
Investment (ROI) - Skill development
presentation of financial reports of workforce.
- Effective financial and - Effective/high-quality training
and presentations, Business
non‑financial risk controls programmes PAGE 109
Responsibility Reports (BRRs)
- Fair business practices
and Integrated Reports (IRs) and
regular announcements and filings
with the stock exchanges.
Customers Suppliers/Contractors
L&T’s Interaction and L&T’s Interaction and
Engagement Approach Value creation Engagement Approach Value creation
We have a continuous ongoing - On-time project completion L&T interacts with its suppliers - We offer cost-effective
interaction with our customers with deeper ‘customer through periodic partner meets, price negotiations. We
through various channels such connect’ at multiple levels. e-tendering and e-procuring align our suppliers with our
as customer meets, workshops Tighter project monitoring and and supplier meets. We organise environmental and social Code
and conferences, exhibitions control, increased after-sales regular visits to suppliers’ and of conduct as part of the
Material Topics and trade fairs, advertising support and regular monitoring Material Topics contractors’ facilities. supplier agreements. Screening,
campaigns, bulletins and news, of projects. KPIs – Safety, assessment and audits of
- Timely completion of projects - Timely payments
one-on-one interactions, water, material management, suppliers are also conducted
- Confidentiality - Repeat orders
periodic reviews, annual reviews, energy and GHG emissions, related to quality and EHS
- Competitive contract price - Price reduction
customer satisfaction surveys and among others. aspects.
bid - Different purchase processes
feedback forms. PAGE 142 PAGE 142
- Innovation and state-of-the- by businesses as per the
art engineering techniques project/establishment’s
- High safety standards requirements
- Transparency in energy,
water and GHG emissions
performance
34 GRI Disclosures 102-21, 102-29, 102-34, 102-40, 102-42, 102-43, 102-44 GRI Disclosures 102-9, 102-21, 102-29, 102-34, 102-40, 102-42, 102-43, 102-44 35
Stakeholder Engagement Materiality Assessment

Government In FY20, we reviewed our existing material topics and conducted
L&T’s Interaction and an extensive stakeholder engagement dialogue to understand their
Engagement Approach Value creation perspective on our material topics and efforts for sustainability.
We maintain regular interaction - We ensure continual We identified material topics of concern for us, by engaging with
with local governments. We are improvement in our efforts
member of important industry for triple bottom-line (people,
internal and external stakeholders. These material topics form input for
associations and play an active role planet and profit). We our strategy, planning and disclosure.
in policy formulation. present our performance
Material Topics
through mandatory and non- Assessment process Businesses a part of materiality assessment
mandatory disclosure.
- Compliance to regulations The process of materiality assessment began
PAGE 143
- ESG performance and with a set of 24 potential topics identified. Infrastructure
Integration We extended the topics and sought views
- Building & Factories
- CSR and reporting of internal and external stakeholders. 11
material topics were identified as critical for - Heavy Civil infrastructure
the Company. - Transportation Infrastructure
- Power Transmission &
Materiality assessment process Distribution
- Water & Effluent Treatment
Media Designing of customised questionnaires for
each stakeholder category, keeping in mind
individual concerns and expectations. - Smart World &
L&T’s Interaction and Communication
Engagement Approach Value creation
- Metallurgical & Material
We interact with media through - We provide regular media
olding stakeholder engagement sessions
H Handling
regular press meets and periodic updates, share critical across selected locations.
media visits. information through press Power
releases and feeds to social
Material Topics media (LinkedIn, Facebook
- Providing transparent and L&T website). We Briefing stakeholders about sustainability and
conduct media briefings how L&T is working towards it.
stakeholder communication
and presentations.
Heavy
Engineering
Seeking inputs on survey from various
stakeholder groups.
Communities
L&T’s Interaction and Hydrocarbon
Engagement Approach Value creation Collating the information for further analysis.
Engineering
We are committed to uplift the - We give back with our CSR
societies in which we operate. programmes. Nine Construction
We regularly engage with Skills Training Institutes (CSTIs)
the community through CSR impart training in formwork, Developing a report detailing the findings
and other relevant information.
initiatives, volunteering activities, carpentry, bar-bending, steel- Defence
quarterly review of our integrated fixing, masonry, construction,
Material Topics community development electrician skills, welding and
- Expectation of livelihood projects, continuous engagement CCTV installation training.
creation with village panchayats and Education, health and skill
- Improvement in overall living local authorities. development for communities
standards around L&T establishments Realty
- Water and sanitation and project sites. Access to
- Development of community drinking water and sanitation
infrastructure in water-stressed regions,
integrated community
development programmes.
36 GRI Disclosures 102-21, 102-29, 102-40, 102-42, 102-43, 102-44 GRI Disclosures 102-21, 102-29, 102-40, 102-42, 102-43, 102-44 37
Materiality Assessment Description of material issues and strategy and capitals linkage
Material topics Relevance of topic, boundary and limitations Capitals Strategies
to the boundary (if any) associated
Materiality Matrix
Occupational
We strive to provide an accident-free workplace to our SO3
health and safety people and comply with relevant regulatory requirements for
of employees and this purpose. Our preventive measures are built around the
Climate change and contractors philosophy of embracing safety as a ‘way of life’.
GHG emissions Occupational health
and safety
Water management SO3
Water is critical for our business and we are committed to
using it prudently. Accordingly, we have turned our facilities
Material 'water positive' with 'zero wastewater discharge'.
sourcing
Natural resource Adoption of Natural resource Our business essentially depends on natural resources and derived SO1 SO3
conservation renewables
Labour conservation materials such as sand, aggregates and cement, including ferrous
management and non-ferrous materials. The judicious utilisation of such
resources strengthens our efforts to reduce our carbon footprint,
Water while improving productivity and profitability.
management
Material sourcing We focus on enhancing local sourcing of materials

SO1 SO3
needed for our projects. Besides providing opportunities
for economic development of local communities, this
approach enables us to drive efficiencies by saving on
logistics‑related costs.
Climate change We believe business sustainability and competitiveness are

SO3
mitigation and GHG ultimately linked to the low-carbon economy. Progressively,
Supply chain we continue to invest in products and processes
Customer Product management
emissions that promote sustainable growth, enhancing energy
satisfaction R&D impetus stewardship efficiency and developing low-carbon technologies for
Ethical business Corporate infrastructure development.
practices governance
Talent attraction and Our intervention requires expertise and high engineering SO1 SO2 SO3
Energy retention skills, and we are proactive in engaging and retaining the
Product quality Skilled efficiency best talent. We nurture talent, enhance productivity and
manpower efficiencies, and build a robust leadership pipeline.
Community Talent attraction Adoption of

Stakeholder concern
SO3
development We are increasingly using renewable energy at our campuses
and retention renewables and project sites, thereby widening our green cover.
Customer Local
privacy Human employment
rights Depleting energy sources is detrimental to long-term
Energy efficiency SO1 SO3 SO4
Local supply base business objectives. Growing energy savings translate into
Collective bargaining development reduced power cost and fuel, and thus lower operational
agreements cost and enhance profitability.
Corruption
Supply chain Suppliers are our strategic partners in delivering timely

SO1 SO3
management performance. Significant supplies at our project sites
are from the local suppliers. We encourage suppliers to
Impact on L&T Low Moderate High partner our sustainable growth. Implementing sustainability
practices in the supply chain helps improve their economic,
environmental and social performance.
Labour management Our comprehensive CoC ensures that we follow best-in-class

Material topics practices to protect human rights (no child labour, no forced SO3
labour, and so on). In addition to sensitising our workforce

1. Occupational health & safety on these topics, we also make sure that our subcontractors
2. Water Management adhere to this CoC. Our subsidiaries and associate companies
3. Natural resource conservation are encouraged to follow our corporate HR policy.
4. Material Sourcing We undertake constant training and awareness campaigns
Local supply base
5. Climate change and GHG emissions to ensure that our suppliers understand our sustainable ways SO1 SO2 SO3
development
6. Talent attraction and retention of working and embed them in their business. We also train
them on key aspects of the business to partner their growth.
7. Adoption of renewables
8. Energy Efficiency
9. Supply chain management Natural Intellectual
Capital Social and Relationship
10. Labour Management Capital Capital
11. Local supply base development Manufactured Human
Capital Financial
Capital Capital
38 GRI Disclosures 102-29, 102-47, 103-1, 103-2, 103-3 GRI Disclosures 102-29, 102-47, 103-1, 103-2, 103-3 39
External Environment
The long-term global macro- Deep impact of COVID-19 Pandemic Infra spending and Capex Opportunities supported by
trends continue to remain robust The year FY21 was an unprecedented one. The supported recovery current trends
in most of the business segments COVID-19 pandemic is the first severe global health The Infrastructure sector is a key driver of the Indian Rapid urbanisation in India is driving demand for
we operate in. The continued crisis of this century, endangering the whole of economy and contributes to India’s overall development. better urban mobility in Tier 1 and Tier 2 cities and for
humanity and resulting in a substantial weakening
government focus on self-reliance of most economies. The Indian economy witnessed
The sector, accordingly, receives focused attention new mass transit systems e.g., RRTS (Rapid Rail Transit
and resource allocation from both Central and State System), Metro Neo, Metro. The need to provide
and improving India’s overall its first ever technical recession in FY21, with gross Governments. Despite the COVID-19 pandemic, in FY21, faster and affordable mode of transport for people
infrastructure for vigorous and domestic product (GDP) growth remaining in the both contract awards and construction activities were and materials is pushing Indian Railways to adopt
sustainable economic growth negative territory for two consecutive quarters. robust. Tenders of ~` 7.8 Lakh Crore were floated in new age projects i.e., High Speed Rail and Dedicated
Lockdowns and travel restrictions imposed significant
further provides a boost to our supply-side constraints on the economy, drastically
FY21, higher by ~50% y-o-y and cumulative contract Freight Corridors.
awards reached ~` 3.5 Lakh Crore. Several large-
core operations. reducing output and employment. Growth suffered ticket projects were tendered, some of which were
The COVID-19 pandemic has fast forwarded the clean
broad-based deterioration with a decline in global energy transition across the world. Hence the capital
also awarded, viz. expressways, metro and defence.
trade and marked slowing down in the manufacturing allocation is likely to be diverted from fossil fuels to
Global E&P investments expected to be The slew of other relief measures undertaken by the
and services sectors across the globe. push new developments in renewable energy. Hydel
Central Government – including relaxation on EMD
$ 415 Bn Stimulus and Revival (Earnest Money Deposit) and performance security,
power is evolving as a source of flexibility and grid
stability while India’s installed nuclear capacity is
increased frequency of payments for on-going contracts
in 2022 expected to reach 15 GW by 2027 from the present
On a positive note, the accelerated progress in and other relief for contractors/developers under the
6,780 MW, driven by the fleet mode programme of
vaccination efforts and generous fiscal support is Atmanirbhar Bharat Scheme – has aided the recovery of
10 pressurised heavy water reactor (PHWR) projects.
ensuring that many nations regain ground and bring infrastructure companies.
` 5.5 Lakh Crore the economies back on the growth track. With an
The Union Budget 2021 has an unprecedented increase
8-15 GW of solar capacity may get added in the next
year in India with a perceivable shift towards hybrid
Capital Expenditure allocation for FY22 aim to speed up the economic normalisation, the
in capital expenditure allocation for FY22 by 34.5% to projects. The renewable capacity addition plans in
(34% y-o-y) Indian Government accelerated the public investment
` 5.5 Lakh Crore to push growth through infrastructure the Middle East, led by KSA, expected to receive
in the key infrastructure sector. The wheels of India’s
investments. Key growth areas like Railways, Highways, a further boost with growing interests in green
capex cycle were set in motion with a strong revival in
Metros, Transmission & Distribution and Water (Jal hydrogen. African countries, such as Egypt, Morocco,
450* GW investment-led growth supported by the ‘Atmanirbhar
Bharat Mission’ and PLI schemes.
Jeevan Mission) have witnessed a significant increase and Ethiopia, also have plans for large utility scale
India Renewable Target (2030) in allocations. Creation of new Development Finance solar plants.
With the economic activity gaining momentum post Institution, announcement of National Monetisation
The reforms-based result-linked distribution scheme
the COVID-19 lockdown, the measures announced by Pipeline and relaxed fiscal consolidation path would
announced in the Union Budget will provide the
111 Lakh Crore the government and rollout of coronavirus vaccines
resulted in an uptick in economic sentiments, but
provide much needed support for capex funding
requirements of a growing economy.
needed impetus to augment electricity distribution
National Infrastructure Pipeline (NIP) infrastructure with UG cabling, feeder segregation,
the resurgent COVID-19 second wave has put a
dampener on India’s growth trajectory. Hopefully, the International Markets HVDS, etc., in addition to smart metering.
country should be able to control this second wave of The global oil and gas industry has faced periodic The UN Sustainable Development Goal which aims
15% COVID-19 infections and, with progress in vaccination downturns in the past. However, the industry witnessed to provide clean water and sanitation to all, is driving
Natural Gas in Energy Mix of India (2030) and strict implementation of prevention and detection a double whammy – supply glut and diminished demand investments in India, Africa, and ASEAN markets.
protocols, the country should be on the growth track caused by the COVID-19 pandemic and the resultant Recycle and reuse, water management, desalination,
for the larger part of FY22. lowering of oil prices to unprecedented levels. This efficient irrigation technologies are gaining traction as
` 2 Lakh Crore led to many projects in the O&G sector being shelved means of addressing the demand-supply gap.
or deferred. The construction industry in the MENA Good impetus is expected for integrated
PLI scheme outlay (till 2025)
100% region also struggled in 2020, leading to a contraction
of about 4.5%. However, as economies get back on
petrochemical plants, especially in Asia led by
Rail Electrification China and the Middle East. Commitment to COP-21
track and oil demand recovers, it is expected that oil
` 3 Lakh Crore target by 2023
prices will stabilise and capex slowdown in oil producing
regulation is driving push towards technologies for
cleaner fuels e.g., biofuels and syn-gas. E&P operators
DISCOM reform scheme outlay (till 2026) countries will get addressed. The construction sector are diversifying into renewables. Electric Vehicles as
suffered a contraction in the ASEAN region as well,
` 5 Lakh Crore due to lockdown measures implemented to stem the
well as the use of hydrogen as a fuel is gathering
pace. With economies recovering, demand for various
` 1 Lakh Crore NABFID (National Bank for spread of the pandemic. Public spending is expected commodities has increased significantly and driving
Financing Infrastructure and to be increased to accelerate recovery in 2021. the producers to bring back their shelved capex plans
O&G PSUs capex outlay for FY22
Development) - the new Increasing population, rapid urbanisation and increasing to table in the metals and mining segments.
DFI target AUM in next investments in infrastructure development shall remain
*(source: rystad) three years the key factors to stimulate market growth in the region.
40 41
Risk Management
The L&T Board has formed a Risk Management Committee to oversee the Description Mitigation measures
implementation and effectiveness of the risk management framework Execution challenges
as required by the Securities and Exchange Board of India’s (SEBI) Listing
Obligations and Disclosure Requirements (LODR). The framework was earlier The Company faces inherent risks throughout the project’s Projects are put through execution risk reviews utilising
overseen by the Company’s Audit Committee. execution phase. The project challenges include employee/ the recently implemented Enterprise Risk Management
workmen safety, working in difficult/harsh weather conditions, (ERM) System. Each risk identified through the ERM system
unavailability of work front, land acquisition and Right-of-Way is classified into generic and specific risks based on a
(ROW), environmental clearances, visa issues, and so on. comprehensive risk register. These risks are monitored
The Company has institutionalised an Enterprise Risk The aforesaid risk management processes are assisted There were additional challenges due to the pandemic, such as regularly for resolution/mitigation. Projects are closely
Management Framework, which is continuously by an Enterprise Risk Management System that labour availability and mobilisation, supply chain disruptions, reviewed through a quality and EHS audit, ensuring
reviewed and benchmarked with industry-best facilitates monitoring risks across projects in various and some of the projects getting delayed/slowed down at the employee safety, regulatory, and environmental compliance.
practices. The Risk Management Committee geographies of operation, provides a risk-weighted customer’s behest. Practices such as working in multiple shifts, providing a
periodically evaluates and monitors the Company’s portfolio view of businesses and shares learnings safe and healthy working environment, and arranging
key risks, such as the impact due to the slowdown across the organisation. An integrated Knowledge for workmen boarding with required facilities, are being
in the economy, geopolitical issues, risks relating to Centre portal is also available that provides a platform implemented in projects. Sourcing from alternative channels
reputation and brand, competition, counterparty, for the assessment of financials of counterparty, has ensured minimum supply chain disruptions. Contractual
foreign exchange & commodity prices, interest geo-political and macro risks to support informed and remedial measures are being enforced with more rigour to
rates, cyber security and Environmental, Social, and fact-based decision-making. mitigate the monetary impact arising out of project delays.
Governance (ESG) related issues, and so on.
The Company has a Chief Information Security Officer
The Risk Management Committee periodically reviews (CISO) in place who is responsible for forming and
Under-performance in key sectors
the robustness and defensibility of the systems in assuring the implementation of IT security policies,
place and suggests mitigation plans accordingly. The frameworks to manage cybersecurity risk and controls Sectors such as Power, Nuclear and Defence and Shipbuilding, Divestment of certain non-core business lines and proactive
Audit Committee, in compliance with Companies Act across the organisation. Also, the Company has rolled continued to see slow growth and underutilisation of their liquidity boosting have given the Company the financial
and SEBI LODR, oversees the financial risk framework out Mission Zero Harm Plan, targeting the proper capacities. These businesses are facing structural challenges, flexibility to meet project milestones, while investing in
of the Company and reviews the corporate risk implementation of safety procedures, programmes, such as high receivables from Discoms, shift towards green high-growth areas. The Company works on sector-specific
management framework once a year. and practices. projects, delays in environmental clearances, and so on. solutions to improve overall business performance.
Additionally, the metro and financial services sectors have been
adversely impacted by the pandemic.
Geopolitical risk
The Company’s apex enterprise-wide risks and their mitigation measures are summarised below:
The Company operates in numerous geographies and faces The Company has in place mitigation strategies, such as
risks on account of protectionist policies, political dynamics, country-clearance procedures, monitoring geopolitical
Description Mitigation measures
trade barriers, sanctions, and geopolitical conflicts. conflicts, actively monitoring changes in sanctions regimes,
Pandemic The ongoing geopolitical scenario also impacts the supply along with the identification of alternative strategic
chain, and hence could have a schedule and cost impact sourcing options.
The pandemic has posed one of the key risks impacting the The Company has quickly responded by implementing on projects.
Company’s operations. Project activity at worksites had slowed safety measures such as temperature screening, sanitising,
down during the period starting from March till May 2020 as and enforcing safe distancing norms and mandatory masks Inequitable terms of trade
governments worldwide resorted to a range of measures, such in private offices and project sites to ensure the resumption
as complete lockdown, night curfews and partial lockdowns to of work. The Company also stepped up its employee health The Company partners with multiple stakeholders in executing The Company relies on its leadership position in the
curb the spread of the virus. welfare initiatives and established well-equipped quarantine projects and the terms agreed upon with these parties have businesses it operates, strong internal processes, back-to-
The impact on economic and financial condition of facilities to take care of the sickness/recovery process. become more stringent over the years. Joint and several back arrangements with vendors/subcontractors, project
counterparties in India or elsewhere may lead to delays in The Company took steps to ensure that liquidity was liability, long tenor of defect liability periods, cost overruns, and business level working capital monitoring policies, and
booking new orders or timely release of funds for the projects preserved to withstand any adverse developments. back-ended payment structure, working capital challenges pre-bid reviews as appropriate risk mitigation strategies.
under execution. Credit-worthiness of counterparties is being continuously and claim management challenges will adversely impact Project teams also maintain the required documentation
monitored to lessen the impact of adverse working performance and cash flows. and follow redressal mechanisms with clients/vendors/
capital resulting from customer delays in the settlement subcontractors to address terms and disputes on a case-by-
of receivables. case basis.
42 GRI Disclosures 102-15, 102-29, 102-30 GRI Disclosures 102-15, 102-29, 102-30 43
other fixed costs to provide for. To mitigate these Foreign exchange and commodity
issues, the Company raised a significant amount
of long-term liquidity at the beginning of the year
price risks
Risk management through debt capital markets. The Company’s businesses are exposed to fluctuations
in foreign exchange rates and commodity prices.
The Company also concluded the divestment of
Additionally, it has exposures to foreign currency
its Electrical & Automation business and used its
denominated financial assets and liabilities. The
Description Mitigation measures pg 44 proceeds to reduce its gearing, thereby maintaining
back cover business-related financial risks, especially involving
a conservative capital structure. The proceeds were
Cyber security commodity prices, by and large, are managed
also used for investing ` 1,900 Crore in the form
contractually through price variation clauses, while the
of rights issuance of its subsidiary L&T Finance
The Company is undergoing digital transformation and The Company has a Chief Information Security Officer in foreign exchange risks and residual commodity price
Holdings and about ` 1,000 Crore to support its
cybersecurity has become a key concern for the continuity place, who, under the guidance of the risk management risks are managed by appropriate hedging products.
subsidiary L&T Metro Rail Hyderabad Ltd. (LTMRHL)
of our business. Vulnerabilities such as targeted attacks, committee oversees the implementation of strong whose operations were impacted severely due to The disclosure of commodity exposures as required
ransomware threats, and phishing have raised the importance enterprise-wide cybersecurity practices. These practices the pandemic. under Clause 9 (n) of Part C of Schedule V of the SEBI
of protecting the information technology infrastructure and are grouped into people, process and technology control (Listing Obligations and Disclosure Requirements)
data of the Company. areas under the company-wide Cyber Security Assurance With business conditions improving progressively in
Regulations, 2015 in the format specified vide SEBI
Framework. Employee awareness on cybersecurity is being the 2nd half of FY21 till the onset of the second wave,
Circular dated November 15, 2018 is given in the
enhanced through initiatives such as awareness courses, the Company ended the year with significant liquidity
Annual Report.
information security day, quizzes, and the creation of on the balance sheet, aided by the divestment and
infotoons. The maturity of security controls is continually lower working capital. Low gearing levels and high Financial risk management is governed by the Risk
being measured to ensure they maintain the desired cash balances will equip the Company to deal with Management framework and policy approved by the
benchmarks. business uncertainty in the face of the ongoing Audit Committee and authorised by the Board. The
second wave of COVID-19. The Company plans to financial risks in each business portfolio are measured
maintain the higher liquidity buffer on the balance and managed by Corporate Treasury.
Financial Risks buoyant since. The pandemic has led to an uneven
sheet to deal with the lingering pandemic-induced
recovery and many sectors are still struggling to Despite a sharp rally in commodity prices during the
Economic activity continued to be impacted in the crisis and possible downturn in economic conditions.
reach pre-COVID performance levels. Fragility in the year, the Company’s robust financial risk management
wake of the worst humanitarian and health crisis in financial sector in a number of economies continues With the Large Exposure Framework guideline of RBI processes ensured during the year that the impact of
more than a century posed by the pandemic. Post the to remain a concern, though with stimulus and implemented from April 1, 2019 the Company has high impact costs on the Company’s profits remained
complete disruption of the logistics and supply chain liquidity pumped in by Governments, led to higher been focusing on ensuring sufficient available limits under control.
as well as the reverse migration of the labour force, consumption of goods (in lieu of services) by people. to retain the ability to bid for large-value projects,
Q1 FY21 saw India’s GDP decline by ~24%. With the A combination of higher consumption of goods, though currently it has adequate banking facilities to Climate Change Risk
phased easing of lockdown restrictions during Q2, infrastructure build-up expenditure driven by fiscal cater to business requirements. The Government’s
Q3 and Q4, the country’s GDP contraction for the full Climate variability across the world has emerged as
boosts and catch-up on lost time being attempted by initiative to reduce the performance bank guarantee
year of FY21 stood at 7.3%. one of the biggest risks of the 21st century lately as
various industries upon reopening of the economies requirement in projects from 10% to 3% has also
a result of global warming. The Company’s primary
However, the second surge of the mutant strain of led to demand surge for raw materials such as steel, enabled the Company to retain adequate headroom
operations in the construction and engineering sector
the virus and the relatively slow pace of vaccination cement, base metals, semi-conductors, and so on. in its non-funded facilities.
may be impacted by climate change. Some of the
gave rise to concerns on resumption of economic The supply of raw materials could not be increased at
The Company judiciously deploys its surplus funds major concerns include: (i) The weather of a location
activity, asset quality challenges for the financial the same pace due to the spread of the pandemic in
in short-term investments in line with the Corporate cannot be predicted based on the meteorological
sector, and so on. Inflation in India rose sharply in regions where the ores are mined, restricted supply
Treasury policy. It constantly monitors the liquidity data; (ii) Climate change is a risk multiplier and has
the first nine months of FY21 mainly on account of chains, etc. This created a demand/supply gap leading
levels, economic and capital market conditions and also enhanced the instances of cyclones, floods
higher food prices led by supply-side disruption in the to a sharp increase in commodity prices in the second
maintains access to the lowest cost means of sourcing and droughts, which may cause problems in basic
lockdown phase. half of FY21.
liquidity through banking lines, trade finance and supplies, raw material transportation, among others;
The global economy shrank by 3.3% in 2020. Amid With the execution progress being impacted in capital markets. The Company managed its higher- (ii) It also threatens the lives of employees and
the various waves of COVID-19 stretching across the first quarter of FY21 due to the pandemic, the than-usual treasury investments during the year to damages property; (iv) Transportation and operation
different geographies, there was a broad-based Company focussed on collection of receivables, generate investment return to neutralise the higher of equipment in unpredictable weather is also a major
contraction of various large economies, with the making good progress, and also stepped up its interest cost due to extra borrowings raised in the concern.
exception of China. Global trade has declined and support to the vendors during the crisis period. beginning of the year.
Emergency management plan is a major requirement
there has been a marked slowdown in services This has led to a decrease in the absolute level of
Given the extra liquidity buffer planned to be kept on to avoid this risk. The Company adheres to all safety
activities, even though the manufacturing sector working capital.
the balance sheet due to the ongoing crisis and long- and environmental compliances including ISO 14001
activity has gradually picked up. Governments term debt raised, both the debt and investments on and ISO 45001. Occupational hazards and adherence
and Central Banks worldwide responded with Capital structure, liquidity and interest the balance sheet are likely to remain elevated in FY22 to environmental management plan are carefully
unprecedented fiscal stimulus and monetary measures rate risks as well. The Company dynamically manages interest monitored at all locations. Alternative plans and
to support economies, businesses and livelihoods. rate risks through a mix of fund-raising products, measures are in place should there be emergencies.
The start of FY21 saw the Company facing huge
Central Banks adopted an accommodative stance investment products and derivative products across
liquidity challenge as the duration of the lockdown Also, many climate related policies are emerging
and also provided liquidity to levels not seen since the maturity profiles and currencies within a robust risk-
and disruption of work at sites as well as at client lately. There is a necessity to be updated with all the
global financial crisis of 2008. management framework.
offices was uncertain. This meant uncertainty of cash policies and regulations nationally and internationally.
As a result, the asset prices have recovered after the inflows while the Company had its short-term and L&T is already working on including the G7, TCFD and
initial COVID-19 fears-led fall, and have remained long-term debt repayments, vendor payments and other similar guidelines into its business.
44 GRI Disclosures 102-15, 102-29, 102-30 GRI Disclosures 102-11, 102-15, 102-29, 102-30, 201-2 45
I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D 1 2 3 S T R AT E G Y I N AC T I O N 5 6 7
Strategy
innovations, and for the core business. The
Strategy formulation insights garnered from the Perspective Plan
EPC Manufacturing
L&T’s business strategy helps the exercise would also be inputs for developing The Group focuses on its proven core Manufacturing is mainly concentrated
the next 5-year strategic plan i.e. ‘Lakshya-26’. competencies of conceptualising, on defence and shipbuilding, heavy
Company adequately exploit engineering, executing, and custom-built equipment catering to
its strengths, identify new Lakshya runs for a 5-year period and is
commissioning large, complex process industries, material handling
developed through a collaborative and
opportunities and build new consultative process across the organisation.
infrastructure projects in the areas equipment, and industrial products
capabilities. This is enabled through Formulating the plan helps decide the strategic
of roads, bridges and tunnels; power and machinery. The Company has
transmission and distribution, thermal/ extensive manufacturing facilities at
three plans with time horizons directions for the businesses as well as setting
hydel/solar/nuclear power plants; water Hazira, Vadodara, Talegaon, Chennai,
ranging from long term (7-10 years) the year-wise performance targets along with
and irrigation infrastructure; residential, Coimbatore and Kattupalli in India as
supporting initiatives. FY21 is the terminal year
to medium term (5 years) to short of the last 5-year strategic plan, ‘Lakshya 21’.
commercial, institutional and factory well as Oman and Saudi Arabia.
term (annual). Each plan dovetails buildings; airports; high-speed, metro,
The pandemic delayed the formulation of the and conventional railways; onshore
into the next. next 5-year plan ‘Lakshya-26’ and has also and offshore hydrocarbon facilities and
The Company had earlier undertaken the ushered in new dynamics in certain businesses, metallurgical projects.
development of ‘Perspective Plan’ focussing on which need to be addressed. The Company has
a long-term view (7-10 years) of the Group’s now initiated the formulation of ‘Lakshya-26’
various businesses, which helped identify plan and aims to complete the process by
the megatrends, potential disruptions and September 2021.
future directions for the current businesses.
While the 5-year business outlook and broad
Further, the exercise helped identify new
financial goals are embedded as an overarching
business opportunities (SuFin, EduTech) which
strategic plan, the annual operating plan is
are now in incubation phase and expected
formulated before the commencement of
to bring significant benefits in the coming Value creation by
every financial year. This helps provide flexibility
years. The exercise also led to the setting up the Group is enabled
in tailoring annual operating and financial Business
of an Innovation Fund which is focusing on through leveraging
budgets to changing circumstances while models
identifying and investing in start-ups for digital its four business
keeping the 5-year strategic plan in view.
models
Objective
Perspective plan 5 year strategic plan Annual plan

- Long term business vision - Assessment of macro - Strategy for key account Services/Allied Businesses Development
- Assessment of emerging environment and mid-long term management and prospects
business outlook pipeline The services and allied businesses The Company has also undertaken
technologies and new growth
opportunities - Strategic priorities for profitable - Resource plan cater to sectors of IT (through LTI and development projects such as the Hyderabad
- Identifying relevant growth growth of business - Sustainability plan Mindtree), Technology Services (through Metro, road operations and tolling [through
initiatives - Strategic initiatives LTTS), Smart World and Communication, Infrastructure Development Projects Limited
- Sustainability road map Real estate and Financial services (IDPL)], Nabha Power and Uttaranchal Hydel
(through L&T Financial Holdings Limited). Power, among others.
7-10 years 5 year 1-year
Scope
- Business portfolio - 5 year Business plan - Annual budget

- Geographical business strategy - Market outlook - Financial KPIs and operational
- Investment in new business - ESG risks and opportunities KPIs
- Leadership pipeline - Talent management and - Capex and Liquidity plan
- Long-term capex outlay leadership development - Resource allocation for
- Resource allocation orderbook execution
- Portfolio assessment - ESG risks and opportunities
46 47
Strategy
Our businesses and offerings are closely linked to global Megatrends The pandemic has influenced some of the global The de-risking of supply chains via increased
megatrends. While it has negatively impacted contact- localisation or near-shoring and government
intensive sectors, it has also accelerated the push incentives for increasing local manufacturing also
Urbanisation Climate Change Mobility towards digitalisation, environment conservation, expected to drive investments in new factories and
renewables, and health and wellbeing. Digitalisation capacity expansion.
Increasing population pressures Climate change and resource Safe, fast, affordable and
initiatives, pursued over last 2-3 years, have enabled
in cities leading to various scarcity driving need for solutions environment friendly solutions for Oil and gas industry was already undergoing
our businesses to develop significant capabilities and
challenges e.g. congestion and to balance growing needs with movement of people and goods transformation and pandemic has accelerated the shift.
in turn, benefit from this tailwind in the coming years.
call for better solutions environment This could have some impact on LTHE’s future offerings.
- Mass Rapid Transit Systems (TI, The push towards environment-friendly solutions
Negatively impacted sectors due to pandemic e.g.
- High rise buildings for better - Renewables – Solar, Energy HC) is expected to benefit some of our infrastructure
airports, public places (stadiums), new office buildings
utilisation of land space (B&F) Storage (PT&D, HC) - World class airports (B&F, TI) businesses such as Renewables (PT&D) and WET.
etc. are likely to face short term challenges, however
- Underground multi-level car - Green buildings (B&F) - EV and Autonomous systems it is expected that these will pick up sometime in near
parks (Geo) - Water Recycling and Reuse (LTTS) future, given their long term uptrend.
- Redesigned utility networks solutions (WET) - Expressways & Rail Networks
(PT&D, WET) - Energy Efficient Electricity (TI)
- Safe and Smart cities (SWC) systems (PT&D)
Portfolio strategy
The portfolio strategy aims to de-risk the revenue while improving profitability in the pursuit of growth.
This strategy focuses on:
Complementing the mature businesses Well-balanced and geographically

with growth-stage businesses, with a diversified businesses across domestic
focus on asset-light and high-margin and international markets. India will
businesses. The Group is also trying to attract global capital for infrastructure
reduce exposure to asset-heavy businesses. businesses over the next five years due to
Businesses requiring periodic capital a change in market outlook. In addition to
infusion such as Financial Services will India, infrastructure business would focus
be reassessed periodically to gauge their on international markets such as the Middle
Demographic Challenge Digitalisation strategic significance. East and Africa. Americas and Europe would
continue to be the focus geographies for IT
Universal coverage for basic Technology and services offerings services businesses. To further de-risk the
amenities, keeping up with to aid new age businesses across geographical concentration and pursue new
growing demands for global various domains growth opportunities, a few more high-
population potential countries in Africa and ASEAN
- Big Data, AI/ML in BFSI, Retail
- Water Treatment and sewage and Media (LTI, LTTS, MT) region have been identified.
systems (WET) - Automation, IoT in
- Affordable & Mass Housing Manufacturing, HiTech, Balancing the cyclical nature of the Supplementing the standalone
(B&F) Industrial Products, Medical EPC business through a portfolio offerings with partnerships. For the EPC
- Electricity distribution and devices (LTTS, L&T-NxT) of services businesses. The ‘Services’ and manufacturing businesses, the Company
microgrids (PT&D) - Cloud, Cybersecurity (LTI, MT) businesses contribute over 25% of has partnered with several large global
- Financial services (LTFS) - Mobile, Drones, AR/VR/MR the Group’s revenues. With the aim of process and technology licensors, and for
(LTI, LTTS, MT) better profitability and a stable revenue the IT and Technology Services businesses,
profile, the group intends to significantly the group has extensive partnerships with
- Platforms (SuFin, Edutech-
increase share of services business while established global software product and
skilling)
pursuing growth in the traditional EPC and technology companies. These engagements
manufacturing businesses. enable the Group to offer a bouquet
of value-added services to customers in
different businesses.
48 49
Strategy Reviewing our Performance

KPIs Performance
Strategic thrust and direction
S O1 - Revenue Growth - In FY 21, despite the effect of the pandemic which
The focus of the Group’s strategy is to create value for its shareholders, investors, clients, employees
- % of Services in Total resulted in large disruptions in execution, we achieved
and other societal stakeholders through economic benefits, fulfilment of social obligations and
Revenues revenues of ` 1.35 L cr. (-7% y-o-y)
ecological sustainability while protecting and promoting the L&T brand.
- Size of Green Portfolio - However the services business stayed resilient and %
share in revenues increased to 29% in FY21 from 24% in
This value creation is driven through the Company’s Strategic Objectives FY20
- Continuing with our focus on Green Future, we increased
size of our Green Portfolio to ` 277 Bn which is 29.6% of
S O1 S O2 SO3 total revenues (as compared to 31.4% in FY20)
Pursue Value Accretive Incubate new businesses Enable business

growth of current businesses to tap future growth sustainability through high
with faster growth of services opportunities focus on Environment, S O2 - New Businesses being A number of new business ideas were evaluated and the
business and green offerings Social and Governance incubated following were incubated in FY21:
(ESG) parameters such
as Climate Leadership, - SuFin: A B2B platform focused on SMEs in industrial and
Water Stewardship, construction products
Circular Economy, Green - EduTech: An online skilling platform focused on
Supply Chain, Employee employability assessment, reinforced learning and training
and Social Welfare, Board - L&T-NxT: Focusing on the areas of artificial intelligence,
Engagement etc. internet of things (IoT), virtual reality, augmented reality,
geospatial solutions for various industries
SO4 SO5
SO3 - Metrics linked to ESG For details refer to sections
Optimise the mix Identify and Implement
performance based on
of businesses (EPC, sustainable solutions for non- Natural Capital Social Capital Relationship Capital
materiality e.g.
manufacturing, services) core businesses and assets PAGE 56 PAGE 122 PAGE 140
and geographies (India, earning sub-par returns ∙ GHG Intensity
international) to de-risk the ∙ Water consumption Risk
portfolio ∙ LTI Governance Management Policies
∙ Training hours PAGE 158 PAGE 42 PAGE 160
SO4 - Revenue Composition (%) in In FY21, we continued to aim for a balanced portfolio
These strategic objectives are supported through strategic enablers terms of Businesses mix. Business wise composition stood at EPC (61%),
- Revenue Composition (%) in Manufacturing (7%), Services (29%), Others (3%).
terms of Geographies In terms of Geographic mix, ratio of domestic to
S E1 SE2 SE3 SE4 SE5
international revenues was 63:37 (FY20; 67:33)
Operational Industry leading Financial resources Talent and leadership Capability
excellence for capabilities in to enable growth of pipeline to enable development
leadership in cost- digital technologies the businesses and growth and business through R&D,
competitiveness and analytics for strong financial health continuity absorption of new
and world class productivity, ESG to facilitate access to technologies and
execution effectiveness and capital markets as and partnerships SO5
strengthening when required - Businesses divested In FY21, we completed a major divestment exercise the
revenue streams sale of our Electrical & Automation business to Schneider.
We also divested UK-based marine solutions business
‘Servowatch’ to Rolls Royce.
50 51
Sustainability Performance
Sustainability Roadmap
Our sustainability roadmap journey started many years ago. Over
the years, we have reviewed and finetuned our sustainability TARGET
priorities on the basis of evolving business realities in India and other Reduce water consumption intensity by 10%
(KL/Bn) w.r.t. FY16
global markets where we operate. We had kickstarted our third
Sustainability Roadmap back in 2016. Water consumption intensity
The sustainability roadmap was formulated after taking cognisance of past learnings, m3/bn
peer analysis and stakeholder inputs. Our next sustainability roadmap for FY22 to FY26 is
currently under development and will be finalised in the next few months. The roadmap will
be displayed at our website and will be shared with the investors and other stakeholders.
20,018
Our progress in the reporting year vis-à-vis set targets is provided below.
12,410
10,435
16%
w.r.t. FY16
FY16 FY20 FY21
TARGET TARGET TARGET TARGET

Achieve green product and services portfolio at Increase energy conservation by 10% y-o-y Increase water conservation and recycling by Increase in recycling, and use of recycled
25% of total revenue 5% w.r.t. FY16 material by 5% w.r.t. FY16
Green Portfolio Electricity saved Percentage of waste water recycled Recycled materials used
billion GJ % Tonne
(31.4%)*
38,056
460,812
346
(29.6%)*
420,589
76.5
30,453
26,740
277
57.1
296,213
(19.9%)* 20%
from FY16
12.8
161
42% 42%
from FY20 w.r.t. FY16
FY16 FY20 FY21 FY16 FY20 FY21 FY16 FY20 FY21 FY16 FY20 FY21
*Percentage of Contribution to the revenue within the scope of this report
TARGET TARGET Safety Corporate social initiatives

Reduce total energy consumption intensity per Reduce direct GHG emission intensity by 5%
turnover by 5% (GJ/ ` billion) w.r.t. FY16 (direct CO2/ ` billion) w.r.t. FY16
TARGET TARGET STATUS
Total Energy consumption intensity* Total Scope 1&2 GHG emission intensity* Zero accident vision: Working towards the goal of Reach 3 Million 1.2 Million beneficiaries in FY21
GJ/bn tCO2e/bn
achieving zero accidents beneficiaries
9,003
8,391
853
815
8,115
775
STATUS TARGET STATUS
11% 4% Our frequency rate of accidents has reduced by Increase employee 4,400 employees participated
w.r.t. FY16 w.r.t. FY16 5% in FY21 compared to FY20. There was 40% volunteering base to in the volunteering
FY16 FY20 FY21 FY16 FY20 FY21 reduction in fatality compared to FY20. 5,000 programme and worked for
Although our total energy intensity has increased, our Indirect energy Even with our increasing energy consumption we have managed to reduce our various social causes in FY21.
consumption reduced by 28% wrt FY16 due to energy conservation measures. emission intensity with the use of renewable energy (10.23% of total electricity mix).
*In FY21 the energy consumption intensity increased as most of our project *In FY21 the energy consumption intensity increased as most of our project sites Note: We have made our criteria for CSR beneficiaries more stringent
sites continued to be operational during the pandemic even though continued to be operational during the pandemic even though construction activity since FY20. Hence the reduced number of beneficiaries.
construction activity was low in H1. was low in H1. Similar impact was observed for emissions as well.
52 53
Managing Capital Trade-offs
Managing the COVID-19 Divesting non-core Ensuring judicious Focusing on

pandemic assets and businesses utilisation of resources sustainable businesses
Explaining the trade-offs Explaining the trade-offs Explaining the trade-offs Explaining the trade-offs
It is essential to allocate our capital
The pandemic brought work at our During the year, the divestment We operate a diverse range of We are consistently enhancing
and resources in the best possible sites to a sudden halt. Our different of our Electrical and Automation businesses and create long term the share of sustainability-led
way to create sustained value for all businesses stopped operations briefly, (E&A) business to Schneider value for our stakeholders. Our businesses which contribute to
our stakeholders while operating in a for the lockdown period, then resumed Electric was completed. The Hydrocarbon, heavy industries, the environment and society
volatile market. The constrained and projects. The manufacturing businesses exit from the E&A Business is a power and defence businesses in a positive manner. Our
adopted the work from home mode. part of the strategic portfolio are resource-intensive and portfolio includes - solar energy,
interconnected nature of the capitals review process to unlock capital utilise scarce natural resources. energy storage, water reuse,
availability pushes us to always evaluate Managing the trade-offs from non-core businesses. The Our endeavour is to minimise recycling projects, eco-friendly
and make smart choices about allocation Our focus was on protecting our employees deal was complex, and required our environment footprint and fuel production, green building
of capitals. and supporting communities and the integrating 5,000 employees of optimize material utilization. construction and metro & monorail
government during the global pandemic. L&T E&A to 2,000 employees of Being a project-based company, projects. These projects offer
Our strategic focus areas demonstrate We implemented temperature testing, Schneider Electric India Pvt Ltd. we follow the inputs from our significant benefits to society over
our integrated thinking and act as a sanitisation of offices and provided personal L&T has a strong brand recall in customers to choose virgin/ their lifetime.
protective equipment (PPE) and sanitisers, the switchgear market and the recycled materials and sometimes
compass, guiding our decision-making medical care and other facilities to our related brand insignia will be used our ability to use recycled material Managing the trade-offs
for balancing growth with sustainability employees. We converted inhouse facilities by Schneider for a specified period. is restricted. Detailed due diligence is
at all times, while managing capital to quarantine centres for employees and This newly merged company will conducted to assess the long
Managing the trade-offs
trade-offs. family members along with hotel tie-ups continue to manufacture switch term outlook of these projects
for the same. Regular RT/PCR tests were gear products in line with the Our aim is to optimise our resource before their commencement. We
conducted across offices, project sites and Make in India campaign and aims utilisation and contribute to a significantly invest in building our
factories. We started iCALL facility for online to bring tremendous value to greener and more sustainable teams capabilities to enhance our
counselling of employees. We supported the nation. environment. Our EHS policy, portfolio consistently.
our suppliers, vendors and partners in this sustainability policy, and green
journey. We ensured our contract workmen Managing the trade-offs supply chain policy guide us in this
were provided with timely wages, food, We have invested significantly to endeavour. We promote the use
shelter, 24X7 doctor, nurse, ambulance and bring up this business vertical and of recycled materials, fly ash and
materials for daily needs at labour camps. while parting we ensured that we granular blast furnace slag to blend
found a like-minded responsible with cement at our construction
The Company took steps to ensure that
organisation. We believe this deal sites. We also undertake Green
liquidity was preserved to withstand any
will continue to keep business on Buildings development, which is
Natural adverse developments. We developed
the path of growth. Our businesses resource efficient.
Capital relevant communication to enhance
are digitally driven and the use
COVID-19 awareness on appropriate
Manufactured of technology has enabled us to
Capital behaviour, among other things.
smoothly conduct the transfer of
Intellectual employees and resources.
Capital
Human Capitals deployed Capitals deployed Capitals deployed

Capital
Social and Relationship

Capital Capitals impacted Capitals impacted Capitals impacted
Financial
Capital
54 55
KEY HIGHLIGHTS OF FY21
Natural Capital The precious natural

resources are fast depleting
56%
REDUC TION IN WATER
owing to growing demand CONSUMP TION Y- O -Y
from an increasing
population and the
change in consumption
patterns. Besides, various
894,062
SAPLINGS PL ANTED IN F Y21
industrial activities have
lasting impact on the
environment.
At L&T, we ensure that
our operations judiciously
use these resources and
take multiple measures
to preserve and protect KEY MATERIAL ISSUES
them while reducing our IMPACTED
carbon footprint. This - Water management
requires prudent planning - Natural resource conservation
and collaboration with - Climate change mitigation and GHG
emissions
community partners, - Adoption of renewables
government agencies - Energy efficiency
and non-profits who - Supply chain management
are already involved in
this cause.
SDGs IMPACTED
STRATEGIES IMPACTED
S O1 S O2 SO3
S E1 SE2 SE3
56 57
I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D 1 2 3 4 C A P I TA L - W I S E P E R F O R M A N C E 6 7
Natural Capital
ENERGY
Our aim is to progressively ramp up the share Construction (EPC) of projects, where energy
of renewable energy in our total pie of energy consumption is related to project execution. We will
Translating sustainability consumption. Across our businesses all departments continue to implement the measures recommended
initiatives into lasting outcomes have BEE certified energy managers and auditors.
The primary objective of this team is to enable us to
to manage energy consumption across our campuses
and project sites.
Our strategy is to adopt a low-carbon pathway for all our manage energy at our manufacturing facilities in the
businesses. In line with the Sustainable Development Goals of best possible manner. Energy audits ISO 50001 are Renewable energy
the United Nations, we optimise the use of natural resources, conducted at regular intervals.
Increasing the contribution of renewable energy in
building efficient infrastructure, reducing emissions, and, more
our total energy consumption is a key focus area
importantly, urging stakeholders towards a behavioural change
for us.
through consultation and partnership. The objective is to translate In FY21, our total energy consumption was
our sustainability initiatives into lasting outcomes. 8,417,372 GJ, comprising direct energy consumption Our campuses utilised 21.2 Million units from wind
of 7,355,449 GJ and indirect energy consumption of powered turbines, which constitutes 7.53% of our
Our corporate Environment, Health and Safety (EHS) Policy defines
1,061,924 GJ. The transport facilities we provide our total grid electricity mix.
our business philosophy on environment management. We have
a team of dedicated EHS managers at our facilities and project employees to commute outside the organisation’s Solar: In FY21, 2.6 Million units of solar energy were
sites to implement the policy initiatives. We regularly train our premises also enables us to reduce our environment harnessed at our campuses.
workforce on the aspects of environment conservation to ensure footprint owing to the reduced usage of private
smooth implementation. For more than a decade, we are setting vehicles by our people. The energy consumption
targets as a part of our sustainability programme and working
to fulfil them. Our company also has a sustainability policy to
outside the organisation was 252,654 GJ in the year
FY21, including employee commute and work-related
8 campuses 4 campuses
travel. Renewable energy Wind power sourced
achieve our sustainability goals. Our third sustainability roadmap
generated
came into effect in 2016, with the target year of FY21. To achieve Direct energy intensity increased by 9% y-o-y,
these goals we periodically review our programme. We have also while indirect energy intensity decreased by 38%
implemented an Environmental and Social Code of Conduct,
which helps us to manage the impact of a project lifecycle
with respect to FY16, primarily because of sourcing
of renewable electricity at our campuses and the
3 campuses
holistically. increase in energy conservation activities. Our Solar electricity
major business is Engineering, Procurement and sourced
ENERGY CONSERVATION RENEWABLE ENERGY GREEN BUILDINGS
128 Mn units 28.87 Mn units 13 green

Energy saved
cumulatively (kWh)
Renewable energy used
in our campuses (kWh)
buildings
Including our office spaces
0.47 Mn > 10% and a green factory
Fuel saved (m ) 3
Of total electricity mix
MATERIAL MANAGEMENT CO 2 EMISSIONS AVOIDED WATER
43,068 MT > 33,500 tCO2e Zero

Steel recycled in FY21 Discharge and high water
(cumulatively) harvesting in the vicinity of
EXPENDITURE ON our campuses
1,649 MT ENVIRONMENTAL MEASURES
Zinc recycled
(cumulatively)
` 85 Mn
in FY21 against ` 94.5 Million
in FY20
India’s first large-scale solar PV project of 2 x 10 MW with 16 MW/8 MWh battery energy storage system in the Andamans
58 GRI Disclosures 103-1, 103-2, 103-3, 302-1, 302-2 59

Natural Capital
EMISSIONS
GHG
Energy conservation Energy conservation interventions (GJ/year) We are committed to contributing meaningfully to combating climate change. Our focus is on realigning our
At L&T, our core objective is to Process re-design 1,968
processes and systems to reduce our GHG emissions.
achieve a 10% increase in energy
conservation measures every year. Optimisation and operational control efficiency 3,304 GHG Emissions
The energy conservation measures
Conversion and retrofitting of equipment 15,548
have increased by 43% compared Scope 1 Scope 2
to FY20 and increased by 25.3% Change to CFL and LED lamps 10,755
vis-à-vis FY16. Cumulatively,
Change in personal behavior and auto shutting of lights when 2,294 Consumption of fuels such as petrol, high Utilisation of grid electricity supplied by state
we saved energy equivalent to
not in use speed diesel, furnace oil, natural gas, LPG, CNG electricity supply boards.
128 Million units, thereby avoiding
and acetylene.
33,500 tonnes of CO2-equivalent Others 4,187
emissions in FY21 through energy
conservation and renewable
Total 38,056
Note: The energy, GHG emissions and water
consumption intensity have been derived as per the 221,512 tCO2e
Scope of Reporting Calculation methodologies; and Indirect GHG emissions (Scope 2)
energy use. are as per ISO 14064-1 standard and the global
warming potential used in these calculations is taken
from the IPCC and WBCSD GHG protocols.
Scope 3
Cumulative energy Direct energy Indirect energy
conserved intensity intensity 540,874 tCO2e We are revisiting Scope 3 to broaden
GJ GJ/ ` billion GJ/ ` billion Direct GHG emissions (Scope 1) the scope.
7,868
463,462
7,303
425,406
7,208
1,330
398,666
1,184
345,027
1,136
297,756
273,032
Direct GHG emission intensity Indirect GHG emission intensity

tCO2e/ ` billion tCO2e/ ` billion
FY16 FY17 FY18 FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21
275
579
538
527
247
237
FY19* FY20* FY21* FY19* FY20* FY21*
* Calculated with the revenue within the scope of this report
Air emissions SOx, NOx, Particulate Matter (PM) and

ODS emissions
We monitor air emissions at our campuses and Tonnes
project sites and ensure that our emissions stay
17.78
within permissible limits. Our principle sources of air
emission are process stacks at a few campuses and
diesel generator sets.
12.45
11.63
9.46
9.20
8.31
8.30
2.62
1.70
1.56
0.97
1.01
FY19 FY20 FY21
SOx NOx PM ODS
Floating Solar Project, Tirupati, Andhra Pradesh *We have widened the scope of air emissions this year
GRI Disclosures 103-1, 103-2, 103-3, 305-1, 305-2, 305-3, 305-4, 305-5, 305-6, 305-7
60 GRI Disclosures 103-1, 103-2, 103-3, 302-3, 302-4, 302-5 61
Natural Capital Compliance

Our campuses and project sites have obtained
necessary approvals from local authorities before
commencing their operations. Compliance is 2,595 tonnes
WATER Water withdrawal (m3/year)
ensured with respect to the various statutes, rules Hazardous waste
We are continuously stepping up our Source FY19 FY20 FY21 and regulations applicable to our Company. There  47% Y-O-Y
water conservation initiatives as part of is a ‘system compliance report’, which is reviewed
River/Lake 2,185,089 2,249,349 1,954,846
our overall commitment to sustainability. at all our units and regional offices on a quarterly
The construction business is largely water- Municipal 1,444,293 1,049,722 1,009,999 basis. During the year, there were no incidents of 32,993 tonnes
intensive, but we were successful in non-compliance, and no fines were imposed on our Non-hazardous waste
Rainwater 18,140 56,672 56,575
reducing water consumption significantly. campuses within the reporting period.
 25% Y-O-Y
Groundwater 15,453,730 16,102,233 4,124,985
Others 4,101,695 4,863,491 3,009,989

Our campuses have also achieved ‘zero Materials management
water discharge status’. The quantum of Total 23,202,947 24,321,467 10,156,394 Material consumption
As a construction and engineering company, the
water we recycle is used for gardening and (partially reported) (tonnes)
materials primarily consumed in the course of our
flushing purposes. We undertake various
business activities are iron, cement and sand. We Material Consumption
measures to construct rainwater harvesting Water Intensity (m3/Bn) make all feasible efforts to gradually bring down our
structures both inside our premises and in Ferrous 1,112,545
material consumption, while ensuring relevant quality
areas where our projects are functional. FY19 FY20 FY21
standards. We make sustained efforts to recycle our Non-ferrous 419,855
18,306 20,018 10,435 steel and zinc at our production facilities. However,
we are a project-based company, and most customer Hazardous chemicals 93,963
specifications insist on virgin material. Hence, the Oils and lubricants 2,727
scope of using recycled material is limited. At our
57% construction sites, we make judicious use of fly ash Cement and sand 5,675,473
wastewater recycled and granular blast furnace slag to blend cement.
in FY21
Total Water Recycled steel – Recycled zinc – Fly ash – Crushed sand –
Consumption in FY21 cumulative cumulative cumulative cumulative
Tonnes Tonnes Tonnes Tonnes
9,755,858 m3
43,068
1,649
2,472,007
7,841,112
40,570
2,242,784
1,494
3,076,497
2,492,455
6,228,811
33,906
1,945,715
1,577,792
27,159
26,583
1,015
4,686,573
1,292,416
22,318
3,692,337
1,126,762
WASTE AND SPILLS
726
489
470
Both hazardous and non-hazardous waste are Our waste management measures
handled diligently and responsibly at L&T. During - Hazardous waste – such as used oil, oil-soaked FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY20 FY21
the process of disposal, all relevant norms and cotton waste, used chemical/paint/oil containers,
procedures applicable are appropriately observed batteries, paint residues and ETP sludge – is
and documented for further reference, should disposed of through Government-approved
Percentage of Percentage of fly ash Percentage of
there be an emergency. For example, we handle recyclers/re-refiners/re-processors.
recycled zinc used in and GGBS used in crushed sand used in
oil spills with meticulous care, and we continually - Hazardous waste is transported as per the statutory place of Zinc place of cement place of Natural sand
report on waste and spills as mandated by ISO 14001 requirements. % % %
and OHSAS 18001. Periodic internal and external
- Electronic waste (e-waste) is disposed of
assessments are conducted to ensure compliance
19.59
15.76
33.81
through authorised vendors as per the statutory
14.23
with applicable regulations.
28.33
requirements.
12.48
- Biomedical waste generated at dispensaries and
health centres is disposed of as per statutory
2.86
14.12
3.04
requirements, and responsible disposal is ensured.
- We do not import, export, transport or treat
any hazardous waste covered under the Basel FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21
Convention.
62 GRI Disclosures 103-1, 103-2, 103-3, 303-1, 303-2, 303-3, 303-4, 303-5, 306-1, 306-2, 306-3, 306-4, 306-5 GRI Disclosures 103-1, 103-2, 103-3, 301-1, 301-2, 306-1, 306-2, 306-3, 306-4, 306-5, 307-1 63
Natural Capital
EXPANDING OUR GREEN Effective Solid waste Management

PORTFOLIO - Our Smart World and communication business
provides automated communication software for
We are steadily developing a growing portfolio
effective solid waste management in smart cities.
of sustainable engineering and design solutions.
Any product development will always have some
environmental impact. Emission Reduction
- Flue gas desulphuriser (FGD)
- Our power business provides EPC services of FGD
Our green portfolio comprises projects embedded which helps reduce Sulphur oxides emissions from
with advanced technology, solutions centred around thermal power plants.
renewables, water and effluent treatment plants,
- Natural Gas extraction EPC projects also greatly
efficient power distribution, mass transit systems and
reduce the emissions.
green buildings. The aim is to lay stronger emphasis
on energy efficiency and resource conservation to
increase the sustainability quotient across our projects. OUR GREEN BUILDINGS
Our green portfolio offers infrastructure that has a U.S. Green Building Council (USGBC):
low impact on the environment and focuses on public LEED Platinum BIODIVERSITY Comparing normal plantation with Miyawaki
wellbeing. Our green portfolio contributed ` 277 Bn Method
- Technology Block, Hazira
(29.6%) to the revenue of the company. Urban forest Landscape/Plantation Miyawaki Forest
- Administrative Building, Kattupalli
Our green portfolio comprises: The urban forest is a unique methodology
- SBU Block (2nd Floor), Hazira Higher initial cost Moderate initial cost
proven to work worldwide, irrespective
Renewable energy systems - Administrative Building, LTSSHF, Hazira of soil and climatic conditions. More than Extensive maintenance Zero maintenance
- Solar power plants - Office Building, Coimbatore 3,000 forests have been successfully created
Susceptible to pests and 100% organic no pesticides
worldwide using this methodology.
- Hydro power plants diseases used
USGBC: LEED Gold
As experienced globally, the forests created
Non-native plant selection Only native plant selection
Efficient power transmission and - Knowledge City, Vadodara by the Urban forest method are approximately
30 times denser and grow 10 times faster Single-layered greenery Multi-layered green forest
distribution system - North Block II, Mumbai
than conventional tree plantation, creating a
- Learning Centre LDA, Lonavala Limited plant varieties Minimum 25 to 50 plant
self‑sustaining forest in just 1/4 of the time.
CO2 emission reduction - East Block 2, Knowledge City, Vadodara species
(Metro and monorail)
Kindles natural biodiversity
Mass Rapid Transit systems provide enhanced USGBC: LEED Silver
connectivity, reducing the number of vehicles on the - EDRC, Chennai
road, which in turn, reduces pollution and maximises
- L&T TC III, Chennai
resource efficiency.
- Administrative Building, Vadodara
Green buildings
(Buildings and Factories) USGBC: LEED Certified
- L&T TC II, Chennai
We construct certified green buildings, which Urban Dense Forest
consume less energy and water, utilise recycled
material and locally source most of the
construction materials. 13 Location
Talegaon
Location
Coimbatore
Location
Bidkin
Location
Erode
Green buildings
Water and resource conservation Area Area 1 acre (12,500 8 acres (49,300
3 patches of 400 800 square metres saplings) saplings)
Water treatment and distribution
square metres
infrastructure
We build bulk distribution and water treatment
systems, wastewater treatment plants, effluent
3,600 2,401 12,500 46,835
Saplings Saplings Saplings survived Saplings survived
treatment and recycling plants as well as lift
100% Survivability 95% Survivability
irrigation systems.
64 GRI Disclosures 103-1, 103-2, 103-3, 304-1, 304-2, 304-3, 304-4 65

Natural Capital
NATIONAL ACTION PLAN ON CLIMATE CHANGE

Larsen & Toubro’s climate change, energy efficiency and renewable energy programs are aligned with the
National Action Plan on Climate Change (NAPCC), released by the Prime Minister’s office, Government of
India in 2008. The Company’s programs are also being aligned to the Nationally Determined Contributions
(NDCs) ratified by the Government of India during the COP 21 – Paris Agreement.
MISSION 1 MISSION 2 MISSION 3 MISSION 4 MISSION 5
Solar Enhanced Energy Sustainable Habitat Water Strengthening the

Himalayan Ecosystem
- L&T’s solar business provides a - Through focused energy - L&T has 13 green buildings - With continuous and dedicated - The business also constructed - Large scale tree plantation
single-point EPC turnkey solution conservation projects, more within its campuses. efforts towards water more than 12,000 km of water across project sites is being
for solar photovoltaic (PV)-related than 128 Million units (kWh) - L&T constructed more than conservation and establishing distribution pipelines in FY21 practiced across L&T, and we
projects, along with energy of energy were saved, avoiding 3.2 Million sq. ft. of certified water stewardship, we and designed and constructed continue tree plantation in and
storage solutions. Its experience over 109,428 tonnes of CO2 green space for its clients in constructed water harvesting more than 539 Million litres per around projects sites in the
ranges from flat to highly emissions at our establishments, FY21. structures both within our day (MLD) of water treatment Himalayan region.
undulated as well as to landfill cumulatively. campuses and in communities. and recycling plants in FY21. - Skill-building programmes are
- As a part of the Sustainability
topologies with specialised - Hazira, Kancheepuram, - Adopted Zero Wastewater - Achieved water adequacy conducted for the local youth
Roadmap 2021, all new
technologies including designing Pithampur and Pondicherry discharge approach and for drinking, sanitation and to enhance their employability
buildings within L&T campuses
and executing contour‑following campuses have implemented rain-water harvesting across agriculture through watershed during the project execution
are to follow green building
solar PV power plants. ISO 50001:2000 (Energy campuses and communities. projects, as part of Integrated phases at the Himalayan region.
norms.
- The solar business has in-house Management Systems). - 57% of the total fresh water Community Development (ICD) - Health camps/medical camps
- L&T Ensures water and soil
capabilities of different module - We are focusing on energy consumed at our campuses and programmes in nine locations. are periodically conducted at
conservation and encourage
mounting structure types (fixed audit of our project sites. project sites is reused/recycled. - Creating or desilting water project sites in the region.
agro-based livelihoods to
tilt, seasonal tilt and HSAT) This has given us further bodies to increase ground water
prevent migration. - Our Water and Effluent
to choose, for most optimal opportunities for energy level with participation from
Treatment business created
solutions. management and efficiency communities.
water infrastructure to cater to
- As grid stability and power improvement at project sites. the requirements of 30 Million - Conservation of surface water
conditioning requirements people. through Rain Water Harvesting
gain significance in the wake in communities and schools.
of large‑scale renewable
integration, standalone and
PV integrated storage solutions
are being offered.
- 2.6 Mn kWh of solar power were
harnessed at our campuses.
66 67
Natural Capital
PLANTATIONS
L&T WET Business has planted trees in more than
55.5 acres of land across India. The following trees
MISSION 6 MISSION 7 MISSION 8 were planted:
Green India Sustainable Agriculture Strategic knowledge Type of species
on Climate Change 1. Neem
2. Mango
- We maintain a green cover - Our water and Effluent - The ICD – CSR project focuses - We actively participate in 3. Guava
across all our campuses which treatment business brought on increasing the availability institutional and industrial
4. Indian gooseberry (Amla)
exceeds the statutory limit of more than 130,000 hectares of of water for agriculture at forums and employees attend
35% of available open land by a land under irrigation. various capacity building 5. Jamun
water-stressed locations
fair margin. - Through 200 check dams and encourages sustainable programmes on climate change 6. Moringa
- More than 150,000 fully grown constructed by the L&T Public agricultural practices by use of and green initiatives. 7. Sheesham
trees are nurtured at L&T’s Charitable Trust, tribal farmers zero budget natural farming, - Many in-house functional and 8. Almond
campuses. in Talasari block near Mumbai drip irrigation, indigenous technical capacity-building
9. Indian Elm (Chirol)
- L&T planted more than eight can grow two crops instead pesticides, seed treatment, programmes on sustainability
of one, along with vegetable balanced dose of fertilisers, and climate change are 10. Babhul
Lakh trees in FY21 across India.
cultivation. 196.5 Acres of land discouraging plantation of conducted, including: 11. Karanja
- We continue to nurture a self-
are under irrigation. water-intensive crops, and ∙ GRI standards reporting 12. Teak
sustaining forest at six locations
- Our CSR initiatives have built introducing horticulture framework
in India through the Miyakwaki 13. Gulmohar
structures such as check dams, through farm field schools and ∙ Regular training on GHG
technique. 14. Citrus
anicuts, contour trenches, farm demonstrations. accounting and management
- Our guests are felicitated either
bunds and farm ponds were procedures for all the Our WET business has planted saplings across India
by planting a sapling or by
constructed with community businesses
presenting a Tree Certificate at
participation. These structures, ∙ Energy management and
the L&T establishment. Cluster Saplings Planted
along with support, sustain Energy conservation
- Tree plantation and agriculture in the region. Bangalore 111,634
- Employees actively participate in
maintenance is a part of
- celebration of events and days Bhopal 84,350
Integrated Community
such as world Environment Day,
Development (ICD) programme Bhubaneswar 197,507
Earth Day and Earth hour.
adopted across villages in Delhi 72,028
Rajasthan, Maharashtra and - Prayag (the induction
Tamil Nadu. programme for new employees) Indore 86,308
covers sustainable development Jaipur 108,669
and climate change topics along
with EHS and Human Rights. Kolkata 141,620
Lucknow 3,150
Pune 45,880
West 19,197
Africa 235
Total 870,578
Our other businesses and CSR initiatives have planted

additional 23,484 saplings. L&T has planted 894,062
saplings in FY21. Over the years (2008-2021) L&T has
planted over 3.3 Mn trees.
3.3 mn
trees planted
between 2008-2021
68 GRI Disclosures 103-1, 103-2, 103-3, 304-1, 304-2, 304-3, 304-4 GRI Disclosures 103-1, 103-2, 103-3, 304-1, 304-2, 304-3, 304-4 69
Manufactured Capital TOTAL PROJEC T SITES
834
NO. OF MANUFAC TURING
Our business segments across LOC ATIONS
geographies and tech-enabled
manufacturing capabilities give 19
us a big competitive advantage
globally. We adhere to global best FAC TORY OUTPUT
practices in manufacturing and
invest in innovation to retain and 373,964 Tonnes
grow our market share.
Notwithstanding major challenges GREEN PORTFOLIO
in the external environment, we
continued to make encouraging ` 277 billion
progress in all our business
segments, with prestigious order
wins, our order book at record
levels and revenue momentum KEY MATERIAL ISSUES
during the year. IMPACTED
- Project risk management, quality of
construction and EPC services
- Natural resource conservation
- Material sourcing
- Talent attraction and retention
- Energy efficiency
- Supply chain management
SDGs IMPACTED
STRATEGIES IMPACTED
S O1 S O2 SO3 SO4 SO5
S E1 SE2 SE4 SE5
70 71
Manufactured Capital
Transportation Buildings &

Infrastructure (TI) Factories
PAGE 72 PAGE 170
A section of the 13 km Phase 1 of Mauritius Metro Government Medical College Hospital, Madhepura
Overview Overview IMPORTANT PROJECTS COMPLETED IN FY21
L&T’s transportation infrastructure business is one of The EC & DFCC Segment provides design and build L&T’s Buildings & Factories business is an unrivalled - Narendra Modi Stadium, Motera,
the oldest and largest brand in India for Engineering, construction services for all types of urban flyover industry leader in Design and Engineering, Gujarat
Procurement & Construction of infrastructure projects projects and civil works (earthwork, blanket, earth- Procurement and Construction (EPC) of multiple
- Al Rayyan Stadium, Qatar
in the road, railway and airport sectors. The business retaining structures, drain) in dedicated freight projects. These projects range from airports,
is broadly divided into two Strategic Business Groups corridor projects. hospitals, stadiums, retail spaces, educational - IKEA Showroom, Navi Mumbai
(SBG), namely Railways Business Group (RBG) and institutions, IT parks, office buildings, data centres to - Government Medical College,
The business has Engineering Design Centres
Roads Runways and Elevated Corridors (RREC). high-rise structures, mass housing complexes, cement Madhepura
located in Mumbai, Faridabad and Chennai. It has a
plants, industrial warehouses, test tracks and other - Medical Colleges in Coochbehar,
The Railways Business Group comprises two units: competency development centre at Kancheepuram
factory structures. West Bengal and Patna, Bihar
Mainline Business Unit (MLBU) and the Metro for RBG and a workmen training centre at
Business Units (MTBU). MLBU is in the domain of civil Ahmedabad for RREC. The business offers end-to-end solutions, including - Prestige Leela Residences,
and trackwork, electrification, system integration for in-house design expertise using advanced systems Bengaluru
all mainline railway projects, Western and Eastern such as BIM 4D, 5D and BIM 360 field, an efficient - RAMCO Cement plant, Odisha
Dedicated Freight Corridors, and Rail Links for Port, supply chain management and extraordinary project
Mining and Power Plant facilities, and so on. management expertise. The business offers industry-
leading modular, mechanised processes to fast-track
MTBU undertakes ballastless trackwork, electrification
construction across geographies.
(rigid and flexible OHE) and system integration for IMPORTANT PROJECTS COMPLETED IN FY21
all Mass Rapid Transit System (MRTS) projects and
Regional Rapid Transit System (RRTS), both in India
and abroad. This BU also addresses end-to-end
- 4 Lane Yadgiri to Warangal Road
Project
3.28 Mn Sq ft
Integrated Transit Systems, complete with civil and Green buildings were
- 4 Lane Chandigarh to Kharar
systems works. constructed in FY21.
Elevated Corridor Project
The Road, Runways and Elevated Corridor Business - RVNL Track Doubling Sambalpur
Group has two units Roads and Runways (R&R) and Titlagarh all 3 Packages (Sambalpur
Elevated Corridor and Dedicated Freight Corridor – Barpali (P1), Barpali – Bolangir
(EC&DFCC). R&R provides EPC Design & Build (P2), Bolangir – Titlagarh (P3))
Construction services for all types of roads (asphalt - Civil, Trackwork in WDFC CTP 1
and concrete) including all associated structures, and 2 sections of Rewari to Madar
cross-drainage, toll booths, wayside amenities, (306 rkm) and electrification in
and so on. the same section (EMP 4 Project).
In the airport sector, the R&R BU is involved in the The section is among the first in
construction of complete airside infrastructure, such the world that allows plying of
as runways, taxiways, aprons, airfield ground lighting, heavy haul rakes, 1.5-km long to
fuel hydrant systems, and also for international transport double- stacked freight
airports, both greenfield and brownfield. The R&R containers from major ports to the
BU is also a pioneer in providing complete civil hinterland.
infrastructure for greenfield city infrastructure projects - First EPC electrification project
such as smart cities. from Delhi Sarai Rohilla – Jaipur –
Ajmer
- 4-Lane Rewa – Katni – Jabalapur –
Lakhnadon Road Project, Packages
1, 2 & JL Hyderabad International Airport
72 73
The business comprises six Business Units (BUs) – Airports, Health, Public Spaces, IT and Office Space (ITOS),
Residential Buildings and Factories.
Heavy Civil
Infrastructure
Airports Health Factories
Design-and-build solutions for Design and execution of One-stop solution for EPC PAGE 173
passenger terminal buildings hospitals, medical and nursing requirements of factories such
Highway construction
and allied service buildings, colleges. Healthcare infrastructure as cement plants, automobile
and cargo terminal buildings, is delivered with end-to-end plants, glass and paint
with integrated airport system healthcare facilities, including manufacturing, warehouses,
solutions such as baggage- medical equipment, right from automobile test tracks and food
Overview
handling systems, passenger-flow concept to commissioning. processing plants. L&T’s Heavy Civil Infrastructure business is a market of India. It provides EPC solutions for breakwaters,
monitoring system, passenger leader in Engineering, Procurement, and Construction berths, jetties and wharfs, dry docks and shore
boarding bridges, visual docking (EPC) projects in core civil infrastructure segments protection structures. It has unique expertise in
guidance systems and other (metros, nuclear, special bridges, hydel and tunnels, providing design and construction solutions for state-
facilities. ports and harbours and defence) that are crucial of-the-art ship-lift structures.
for economic recovery and development. The Backed by the expertise and experience gained from
Government of India has also enhanced its focus on managing mega projects, the business has established
infrastructure creation to kickstart post-pandemic a position of pre-eminence in shoring up the country’s
economic recovery. This will augur well for our defences. The business offers single-point EPC
business in the coming years. solutions in the form of infrastructure facilities for
As an industry leader in augmenting capabilities defence bases, underground facilities and surveillance.
for urban mass rail transit systems, the business is The business has a strong presence in India, the
involved in the construction of metro rail systems Middle East, Bhutan and Bangladesh. Dedicated
and has projects in almost all the major Indian design and technical centres, competency
Public spaces ITeS and data centre Residential buildings cities. It provides extensive end-to-end engineering cells, specialised training centres, digital project
Design and execution of special Turnkey office space solutions for EPC solutions provider of elite, and construction services for both elevated and management and a talented pool of employees
structures such as tall statues, IT and office spaces. Leveraging affordable and mass housing underground metro systems. help the business sustain competitive advantage in
metro stations, convention the strong mechanical, projects.
In the Nuclear segment, the business provides unexplored geographies and secure major orders.
centres, secretariat buildings, electrical and plumbing (MEP)
EPC solutions in civil, mechanical, electrical and Additionally, the projects are durable and have low
hotels, malls, integrated competencies of the business,
instrumentation, including seismic qualification capex over their life span.
development, and educational it also offers concept-to-
institutions. commissioning services for and modular construction technology. Its expertise L&T GeoStructure is a unique entity focusing on
setting up data centres. extends to both Pressurised Heavy Water Reactor foundation and ground improvement related projects.
(PHWR) and Light Water Reactor (LWR) technologies, It has a strong and professional foundation specialist
a step towards green energy. team with the knowledge of design, equipment and
The Special Bridges segment has extensive experience methods to execute and supervise sophisticated
in executing a wide range of bridges – such as cable- foundation works. It has expertise in deep piling and
stayed, precast, pre-stressed concrete, steel and diaphragm walls, multi-cellular intake wells for river-
concrete composite construction – using ingenious linking, marine terminals with berths and jetties and
cutting-edge construction techniques, such as deep cut-off walls.
incremental launching, segmental construction,
balance cantilever construction and span-by-span
construction. IMPORTANT PROJECTSCOMPLETED
IMPORTANT PROJECTS COMPLETED IN FY21
IN FY21
The Hydel and Tunnel segment offers EPC solutions

- Kakrapar Atomic Power plant
for complete hydroelectric power projects which are
(MPCW), Gujarat – criticality
A new vertical, B&F Fast, has been set up to explore and create value from advanced construction part of our green portfolio. The business also provides
achieved on July 22, 2020.
technologies such as prefabricated prefinished volumetric construction, offsite manufacturing, expertise for road and railway tunnelling projects
structural steel construction and 3D printing that will fast-track project delivery. which cater to nation-building in a greener way. - Durgam Cheruvu project,
Hyderabad-the world’s longest
Dedicated engineering design centres, competency cells, advanced formwork systems, mechanised The Ports and Harbours vertical has extensive extradosed cable-stayed concrete
project execution, a wide network of consultants and vendors, digitised project control and a talented experience in greenfield ports, shipyard structures bridge-was inaugurated on
pool of employees help the business sustain leadership position. and seawater intake systems in all the coastal states September 25, 2020.
74 75
capital
Water & Effluent Power Transmission &

Treatment Distribution (PT&D)
PAGE 176 PAGE 175
Secondary clarifiers under construction for 318 MLD Waste Water Treatment Plant, Coronation Pillar, New Delhi 400 kV Grid Station at Misfah, Oman
Overview Overview
L&T’s Water and Effluent Treatment business The Water and Wastewater vertical comprises L&T’s Power Transmission and Distribution business These business units cater to the Indian market and
helps build comprehensive water management Rural Water Supply, Urban Water Supply, Water vertical is a leading EPC player in the field of power the neighbouring countries of Bangladesh and Nepal.
infrastructure with capabilities covering engineering Management and Wastewater Treatment. Thus, it transmission and distribution and renewable energy.
L&T’s Renewables business unit provides single-
and design, procurement, construction, operation deals with the complete value chain of water and It offers integrated solutions and end-to-end services,
point EPC turnkey solutions for Solar Photo Voltaic
and maintenance, and caters to the entire business wastewater solutions for domestic consumers. ranging from design, manufacture, supply, installation
(PV) related projects including energy storage solutions
value chain. The business has a proven track and commissioning of transmission lines, substations,
The Irrigation, Industrial Infrastructure vertical and microgrids in India and abroad. With experience
record of executing a multitude of projects in the underground cable networks, distribution networks,
constitutes Mega & Micro Irrigation, Industrial Water spanning decades the business has a proven track
areas of water supply, water transmission and power quality improvement projects, infrastructure
Systems & Effluent Treatment, Desalination and Smart record of ground-mounted and floating solar projects
distribution, water treatment, desalination, municipal electrification, fibre optic backbone infrastructure,
Water Infrastructure which help to focus and increase with different module technologies, module mounting
and industrial wastewater network, wastewater solar PV plants including floating solar, battery energy
its business footprint in the domestic market. structures and storage types and capability to execute
treatment, integrated urban utilities, irrigation, canal storage systems, mini/micro grid projects and related
Gigawatt (GW) scale solar projects, be it hybrid, floating
rehabilitation, riverfront development, and so on. The Water International vertical focuses on digital solutions. In addition to being a dominant
or linear. The in-house Battery Energy Storage System
global markets and will continue to tap business player in the Indian subcontinent, the business enjoys
Recently, the Water and Effluent Treatment business containerisation facility augments the capabilities to offer
opportunities in the Middle East, East Africa, ASEAN a significant share and a strong reputation in the
re-organised its business lines to reflect the large-scale renewable integration solutions.
and SAARC. Middle East, Africa and ASEAN markets.
changing trends and be more agile towards future
The international units of the business in the Middle
opportunities. The business has been verticalised into The business also contributes greatly to our
East, Africa and the ASEAN region offer complete
three units – (i) Water & Wastewater; (ii) Industrial, green portfolio.
solutions in the field of power transmission and
Irrigation & Infrastructure; (iii) Water International.
Substation business unit provides turnkey distribution up to 500 kV level. These include
This business segment focuses greatly on water
solutions for Extra High Voltage (EHV) air insulated/ substations, power transmission lines, EHV cabling,
conservation and contributes to our green portfolio.
gas insulated substations, Flexible AC Transmission distribution networks, solar plants and Electrical,
IMPORTANT PROJECTS COMPLETED IN FY21 Systems (FACTS) and digital substation related Instrumentation and Controls (EI&C) works for
solutions, EHV cable systems and complete electrical infrastructure projects such as airports, oil & gas
- Lift canal system of Upper Indravati and instrumentation solutions for various utilities, industries, among others.
Irrigation Project, Odisha plants and infrastructure projects, such as metros and
The Middle East business unit that caters to the
- Erode water supply scheme, Tamil airports.
countries of the UAE, Saudi Arabia, Qatar, Oman,
Nadu Power Distribution business unit provides a range Kuwait and Bahrain has strengthened its position in
- Kadana and Kakrapar Irrigation of EPC services related to urban/rural electrification the GCC region.
Schemes, Gujarat including last-mile connectivity, augmenting,
Having commissioned several landmark projects,
- 40 MLD STP at Rourkerla, Odisha reforming and strengthening of high voltage and
the Africa business unit has established itself in 12
low voltage distribution networks, power quality
- Tabora Water Supply Scheme, countries across the continent. The four regional
improvement works and advanced distribution
Tanzania offices located in Egypt, Kenya, South Africa and
management solutions.
Ghana address different regions of the vast continent.
Reuse Transmission Line business unit offers turnkey EPC
solutions for overhead lines for power evacuation and
Galvanising plant rinse water for transmission up to 800 kV.
pickling and acid preparation
The Optic Fibre Cabling (OFC) projects segment
provides turnkey solutions for deploying gigabit
Substantial scale optical fibre backbone for both Government
agencies and private telcos. The business also provides
Energy requirement of the plants
operation and maintenance support.
met through renewable sources
76 77
In the ASEAN region, buoyed by the proven track

record of successful project execution in Malaysia
- These ISO certified facilities meet stringent quality,
safety and environment management norms and
Smart World
and Thailand, the business is consolidating its gains
in Myanmar and the Philippines as well, besides
have won several awards. The factories employ
automated CNC machines, large galvanising baths
Communication (SWC)
enhancing its footprint in existing regions. and other contemporary equipment. These facilities
PAGE 179
re-use galvanising plant rinse water for
The Middle East accounted for 13% of pickling acid preparation. Zinc Recovery machines Command & Control Centre, Prayagraj
our total order book composition in have been installed to recover zinc from zinc ash
FY21, the highest after domestic order generated during the galvanising process. Gas,
electricity and water consumption are monitored Overview
book. The region also contributed 12% online on a real-time basis. Substantial energy
IMPORTANT PROJECTS COMPLETED IN FY21
to our total FY21 revenue requirements of the administrative buildings L&T Smart World & Communication (SW&C) delivers
best-of-breed technological and digital interventions - Telecom System for the 1st
and utility services of plants are met through
Manufacturing facilities renewable sources. for which demand is growing evermore in the post- Section of Bengaluru Metro, Phase
pandemic new normal unfolding around us. 1 Extension
- The digitally driven tower parts manufacturing - State-of-the-art digital methods and flow control
- The state-of-the-art Command and
units at Puducherry, Pithampur and Kancheepuram techniques are used to improve the overall The business, as a Master System integrator, provides
Control Centre for Jhansi Smart
have a combined capacity to produce more than efficiency of the plants. RFID based techniques help technical solutions and services in the areas of Safe,
City Project
1.5 Lakh tonnes of tower components annually. achieve seamless tracking of track parts till their Smart, Communication and Digital Solutions. The
These cater to the requirements of business final location of installation. During the pandemic, business leverages its technical prowess to solve - Integrated Command & Control
units that offer turnkey EPC solutions globally with digital collaboration tools and virtual problems through smart, scalable solutions for Centre of NDMC Smart City
for overhead lines for power transmission up to inspections the manufacturing and testing centers security, urban services, traffic, transportation, utilities - Successfully commissioned GSAT
800 kV. In these facilities, the high-quality steel served the customers to their fullest satisfaction. and digital connectivity. Continuing its pursuit of 20, GSAT 29 and GSAT 11 Satcom
is fabricated and galvanised into tower parts of - A BESS (Battery Energy Storage System) Integration technology and solutions, the business is working Projects for ISRO
tall standing transmission towers that withstand Facility has been set up at Kanchipuram along with global partners and creating competencies to - Telangana State Police Public
challenging climatic conditions. with a microgrid testing laboratory. Equipped cater to opportunities in the areas of Energy Analytics, Safety Integrated Operations
- The Tower Testing and Research station at with photovoltaic simulators, grid emulators etc., Edge-based Video Solution as services and 5G and Centre located at Cyberabad
Kancheepuram is among the most well acclaimed the battery storage elements get integrated with Cyber Security.
testing centres in the world. Utilities from 30 requisite digital, electrical and mechanical systems The business has three major segments:
countries of the world receive the services of and are containerised. Safe and Smart Cities
this centre.
The business is further empowered by
Smart Cities, Smart Utilities, Public Safety, Critical its Centre of Excellence and Solution
IMPORTANT PROJECTS COMPLETED IN FY21 Infra Security, Intelligent Traffic Management Development Centre in Hyderabad its
Communication and Telecom Infrastructure Technology Innovation Centre in Chennai,
- 400 kV Gas insulated - 23 substations and 72 km its Smart City Skill Development Centres
substations at Lahal, Guindy, of overhead/underground in Hyderabad and Kancheepuram and its
Mylasandra and Papankalan transmission corridor in the R&D Centre for Military Communication
Middle East at Bengaluru.
- 230 kV Substations at Ranchi,
Chennai and Ratangarh - One of the biggest 400 kV Wired and Wireless, i.e IP/MPLS backbones, DWDM
substations and one of the (Dense wavelength division multiplexing), Wi-Fi,
- 132 kV Receiving substation &
longest 400 kV transmission Radio communication like APCO, TETRA, Metro
132 kV cabling for Dhaka Metro
lines in Botswana Communications, Early Warning Dissemination
- Power distribution packages in System, Next Gen Data Centres and Security
Uttar Pradesh, West Bengal and - Substations and transmission
Operation Centres
New Delhi lines in Egypt, Ethiopia and
Morocco
- Packages associated with 800
kV Raigarh – Pugalur HVDC - 500 kV Surat Thani – Bang
transmission line Saphan transmission line in Military Communication
Thailand Satcom System, Tactical Communication System,
- 765 kV Ghatampur Agra –
Greater Noida transmission line - 310 MWP solar capacity Network Management System, Secure Handsets
- 765 kV Ranchi – Medinipur
transmission line
500 kV Bang Saphan-2 to
Surat Thani Transmission Line, Thailand
78 79
Manufactured Capital LTHE caters to clients across the hydrocarbon value-chain through the following business verticals:
Offshore
- Lumpsum turnkey EPCIC solutions are offered to the global offshore oil & gas
L&T Hydrocarbon industry, and encompass wellhead platforms, process platforms and modules, subsea
pipelines & systems, brownfield developments, offshore drilling rigs (upgrade and new
Engineering Limited builds), FPSO modules, deep-water subsea manifold and structures, living-quarters
platforms, transportation and installation services, offshore windfarm projects, and
PAGE 194 decommissioning projects.
- The offshore vertical has comprehensive in-house engineering capabilities offering
customised ‘Fit for Purpose’ engineering solutions covering the complete project life
cycle, from concept to commissioning, for offshore projects. As a vertically integrated
Overview EPCIC player, it also has in-house fabrication and offshore installation capability. Marine
assets comprise a self-propelled heavy-lift-cum-pipe-lay vessel – LTS 3000 – held in a joint
L&T Hydrocarbon Engineering Limited (LTHE) provides facilities, as well as onshore and offshore construction venture, and a wholly-owned pipe-lay barge – LTB 300.
integrated ‘design and build’ turnkey solutions for and installation capabilities. Major facilities in India
the hydrocarbon industry globally. The business include Engineering & Project Management Centres
executes projects for oil and gas extraction and at Mumbai, Vadodara, and Chennai, and Fabrication
processing, petroleum refining, chemicals and Yards at Hazira (near Surat) and Kattupalli (near Onshore
petrochemicals, fertilisers, cross-country pipelines and Chennai). The business has an overseas presence - This business vertical provides EPCC solutions for a wide range of onshore hydrocarbon
terminals. In-house capabilities range from front-end in the Middle East, i.e., in the UAE (Sharjah), Saudi projects covering upstream oil & gas processing, petroleum refining, petrochemicals,
design through detailed engineering, procurement, Arabia (Al-Khobar), Kuwait and Oman (Muscat) fertilisers (ammonia & urea complexes), thermal systems such as cracking furnaces,
fabrication, project management, construction, and as well as Algeria. International business is served cryogenic storage tanks and LNG regasification terminals, cross-country pipelines and
installation including commissioning services. through state-of-the-art modular fabrication facilities terminals as well as coal/pet-coke gasification, coal-to-chemicals and crude-to-chemicals
at Sohar in Oman and an integrated manufacturing projects. Design Engineering Centres for the Onshore vertical offer the complete spectrum
LTHE has a fully integrated capability chain across the
facility at Jubail in Saudi Arabia. of FEED, process, and detailed engineering.
value chain, accentuated with in-house engineering
and an R&D centre, world-class modular fabrication
Construction services
- This business vertical renders turnkey construction services for refineries,
petrochemicals, chemical plants, fertilisers, gas-gathering stations, crude oil & gas
KEY PROJECTS COMPLETED IN FY21 terminals, and underground cavern storage systems for LPG (leveraged for gas and new
development such as hydrogen storage) and cross-country oil & gas pipelines.
- Linear Alkyl Benzene, Normal - Adani LNG – Dhamra – Critical - Its major capabilities include heavy-lift equipment erection competency, application of
Paraffin and Speciality Oils milestone of ‘roof air raising’ advanced welding technologies, high levels of automation, management of manpower
Unit are commissioned and of two tanks was successfully and material in large volumes at construction sites and Quality/HSE systems conforming
under normal operation at achieved. to international practices. The business has also invested in strategic construction
Yanbu, Saudi Arabia for Farabi - Completed offshore installation equipment, a range of pipeline-spread equipment, automatic welding machines and
Petrochemicals Company. of all the three gas Production other plant and machinery for electro-mechanical construction works.
Performance guarantee test Deck Modules (PDM) completed
runs are completed. in Arbiya and Hasbah fields off
- Achieved full production (40K KSA and two oil PDMs in Zuluf
BOPD) at Haliba field for Al field.
Advanced Value Engineering & Technology Services (AdVENT)
Dhafra Petroleum. 72-hour plant - Completed construction for - AdVENT vertical fosters new business lines and technologies to make LTHE future-ready.
performance guarantee test run Cairn–Vedanta Mangala field It provides all the in-house support required for new areas of green energy, modular
demonstrated. upgradation at Barmer and final solutions, cutting-edge hydrocarbon technologies and smart differentiated solutions in
- INDMAX Fluid Catalytic stages of commissioning are in the hydrocarbon industry. Leveraging its domain knowledge and expertise in high-end
Cracking Unit (FCCU) Project progress. engineering based on experience gained from the execution of large-scale, technologically
for IOCL’s Bongaigaon - IOCL’s Paradip Hyderabad complex EPC projects for the business coupled with collaborations with well-organised
Refinery in Assam successfully Pipeline Project substantially R&D centres, renowned institutions, hi-tech and core-tech start-ups, AdVENT delivers
commissioned and handed completed. comprehensive customer-centric solutions. AdVENT will also focus on new energy areas,
over to the customer and such as grey to blue hydrogen in existing refineries to reduce the carbon footprint.
accolades were received
from IOCL’s Chairman on the
implementation.
Indian Oil Corporation Limited Bongaigaon
Fluidized Catalytic Cracker Unit
80 81
Manufacturing Facilities -
Modular Fabrication Services Power Business
- This vertical specialises in modular fabrication for offshore wind-farm projects and e-houses. The
and supply of offshore structures and process all-weather waterfront facilities provide easy access
modules, including free-standing static equipment to clients across the globe, and have load-out PAGE 187
for oil & gas fields, refineries, petrochemical plants jetties suitable for the dispatch of large and heavy
and fertiliser complexes. Leveraging its modular modules via ocean-going vessels and barges.
capability, much of the on-site work for mega jobs - Our facilities are accredited with global
such as the Residue Upgradation Facility (RUF) for certifications. With ISO ASME S, U, U2, R and NB
HPCL Vizag Refinery and for Sonatrach South West Stamps as well as API 2B approvals under their Overview KEY PROJECTS COMPLETED IN FY21
Gas project in Algeria – are being executed at the belt, these facilities also deliver static equipment L&T has established itself as one of the leading - Completion of facilities of
fabrication yard. like pressure vessels and columns for refineries, EPC players in the thermal power plant business India’s first ultra-supercritical
- World-class modular fabrication facilities are petrochemicals, fertiliser projects and other process in India and is known to deliver complete turnkey power project for Central
strategically located in India at Hazira (west coast) industries. These facilities function as a one-stop business solutions from concept to commissioning. Utility in Madhya Pradesh
and Kattupalli (east coast). International projects solution for module fabrication requirements. The business has expertise which encompasses
are served through a state-of-the-art fabrication All the three facilities are pre-qualified by - Final take-over of 2nd Unit in
every aspect of design, engineering, manufacture,
facility at Sohar (Oman). The combined annual major International and national oil companies, a project in Rajasthan for a
construction and project management.
capacity is more than 200,000 MT (depending on process licensors and technology companies. state utility
the product mix). An integrated manufacturing Continuous improvements in production The business has developed its own capabilities - Commercial operation of a
facility at Jubail in Saudi Arabia caters to the local processes and deployment of automation and for executing large and complex power projects, central utility project in Uttar
market and works towards developing local skills digitalisation initiatives including Serial Production which include in-house engineering, state-of-the-art Pradesh where the supercritical
and supporting the In - Kingdom Value Added of Jackets with jigs and fixtures enable us to manufacturing facilities, competent manpower and boilers are supplied by the
programme of Saudi Arabia. The business is also provide customised comprehensive solutions to decades of experience earned in executing large and boiler JV
equipped to supply foundations and other modules our customers. complex projects within and outside India. It has a
proven track record of delivering complete power
plant solutions with the scale and sophistication to
meet India’s growing energy needs.
The business executes combined cycle gas-based
power projects on a turnkey basis. It has an excellent
track record in implementing projects in India
and overseas.
The business has built on its core competencies and
capabilities and has emerged as a major player in
new emission-control technologies, such as Flue
Gas Desulphurisation (FGD) in the thermal power
plant industry. It has a sizable presence in the FGD
business now.
Modular Fabrication Yard, Hazira, Gujarat Qabel 400,132 kV Grid Station-Oman
82 83
Manufacturing Facilities
Heavy Hazira - IOT based digital welding stations, highly skilled

empowered workforce, heat treatment furnaces
Hazira Manufacturing Complex (HZMC),
Engineering a jewel in the crown of L&T group, is a
(for jobs up to 54m long) and quenching facilities,
advanced welding equipment, manipulators and
state‑of‑the-art manufacturing facility located
power sources, hydro test beds with capacity of
PAGE 189 on the banks of River Tapi near the Arabian
60 MT/sq. m., testing facilities, ISO 17025:2005
sea (about 16 km away from Surat, Gujarat).
4 coke drums for Ecopetrol, Columbia NABL approved testing lab, linear accelerator
The facility spreads over more than 750 acres
for High thickness radiography, PAUT, TOFD
of land with a 1.6 km long waterfront. It
capabilities.
employs more than 5,000 people directly and
Overview more than 12,500 people indirectly. - The shops have the capacity to manufacture
equipment in mono/multi-wall constructions,
L&T Heavy Engineering is amongst the top three - Modification, Revamp and Upgrade (MRU) PBU
with materials ranging from carbon steel,
global fabricators. The business has achieved offers value-added end-to-end solutions for FCC
stainless steels, monels to titanium, high-nickel
international recognition through an impeccable reactor, CDU/VDU revamps, urea reactor life
- It caters to critical, large sized ultra-heavy alloys, CrMoV alloy steels and high strength
track record of executing large complex projects extension, coke drum repairs, heat exchanger
equipment for Process Plant and Nuclear sectors creep resistant maraging steels for the aerospace
and constantly creating international benchmarks. revamp, urea energy saving projects and
and is equipped with heavy thick rolling machines industry.
Capabilities include state-of-the-art, fully integrated emergency repairs
of 6,000 MT capacity, which can roll plates up to - Site Area: 900,000 sq. m.
globally benchmarked manufacturing facilities, an - Nuclear PBU specialises in core nuclear island maximum width of 4,500 mm and thickness upto
experienced skilled talent pool and fully equipped equipment such as steam generators, reactor - Shop Area: 98,000 sq. m.
250 mm (hot rolling).
technology centres. components (end shield assembly, end fittings), - Fabrication bays with under hook lifting capacity
- CNC gas/plasma cutting machines which can cut up
The business is organised into Product Business Units pressurisers, safety heat exchanger, spent fuel up to 1,000 MT and facility to handle critical
to 450 mm thick alloy steel plates, water jet cutting
(PBU) based on their specialisation. storage cask/canister; fusion reactor (ITER equipment more than 2,000 MT in weight
machine with working pressure of 3,800 bar,
assemblies), fast breeder reactor critical for nuclear - Large Equipment Manufacturing Facility:
- Reactor and Pressure Vessels (RPV) PBU specialises floor mounted horizontal boring machines (12.5 m
power sector and critical equipment for ATVP/ 280,000 sq. m coastal facility with a load-out quay
in fabrication of hydro-processing reactors, tubular horizontal and 5 m vertical traverse), Vertical Boring
BARC programmes and RO‑RO jetty
reactors, gasifiers, ammonia converters, urea machines with swing of 12 m and capacity of 250
- The Piping center fabricates critical piping spools MT, 4 horizontal/vertical deep hole drilling machine - Max Size: No Limitation
reactors, coke drums, FCC reactor-regenerator
for power plants and other process industries with maximum drill depth up to 1,200 mm, forming
system, LNG/gas processing pressure vessels and
heavy columns L&T Special Steels and Heavy Forgings Private Limited press with 1,200 MT capacity.
(LTSSHF) is a JV with Nuclear Power Corporation
- Heat Transfer Equipment (HTE) PBU specialises in
India Limited (NPCIL) and caters to the demand
ammonia and urea plant exchangers; hydrocracker
for critical forgings required for the Indian Nuclear
BLE high pressure heat exchangers, methanol
Power programme and other critical sectors, such as
converters, PO reactors, VAM reactors and fired-
Defence, Hydrocarbon and Oil & Gas. The JV has set
tube waste heat boiler packages
up a fully integrated forging facility (from steel scrap
- Process Plant Internals (PPI) PBU specialises in to finished forgings of alloy steels, carbon steel &
reactor and proprietary process plant internals stainless steels) with the capacity to produce a single
piece ingot up to 200 MT and finished forgings up to
120 MT.
KEY PROJECTS COMPLETED IN FY21
- EO Reactor for IOCL’s Ethylene

Glycol Project at Paradip
Refinery, Odisha, India
- LC-Max Reactors for HPCL’s
Visakh Refinery Modernisation
Project (VRMP), India
- Steam Generator for 700MW
GHAVP project
- ITER Cryostat for the World’s
Cryostat Base Section for ITER, France Largest Nuclear Fusion Reactor Hazira Shipyard, Surat
84 85
Vadodara Heavy Engineering Works - A wide variety of welding processes are carried out
comprising submerged arc, GTAW, GMAW, PTAW,
Defence
Vadodara Heavy Engineering Works (VHEW)
mechanised TIG, automatic tube-to-tube sheet
is a specialised facility for manufacturing
welding, ESSC, FCAW, automatic nozzle welding
equipment and systems involving exotic
and resistance spot welding.
materials like SS, DSS, Urea grade Steel, PAGE 192
Inconel, Titanium, Zirconium etc. - The unit also have facilities for RT, UT, MT, PT,
TOFD along with a Universal Testing Machine for A K9 Vajra at Republic Day Parade rehearsal in New Delhi
destructive testing and a Helium Leak Detection
facility. The unit encompasses a plethora of
- The facility serves various important industries state-of-the-art technologies for composites L&T has been active in the Defence sector since the Besides these dedicated facilities, the business also
such as Oil and gas, Fertiliser, Petrochemicals, manufacturing. A class 10,000 DFE, 16,000 sq. ft. mid-80s, well ahead of the opening up of the sector operates a facility at Visakhapatnam under the
Specialty Chemicals, Nuclear Power, and so on. in area, ability of 48 spool multi-tape winding over for private industry participation, by associating with Government Owned Contractor Operated (GOCO)
ASME approved workshops with U, U2, N, NA, 22m length, 4 filament winding machines and high the Defence Research & Development Organisation model. These Work Centres are complemented by
NS, NPT and MO stamps are equipped to supply temperature curing facilities form its key assets. (DRDO) and naval indigenisation programmes. Having R&D Centres at Powai and Bengaluru, and Design
highly critical equipment and assemblies, matching built a portfolio of technologies, products, systems, and Engineering Centres for submarines and warships
- VHEW’s core strength resides in its capability
global standards. platforms and solutions, the business provides design- at Powai and Chennai, respectively, and a Design
to engineer custom-built machines that suit
to-delivery solutions across chosen defence segments and Engineering Centre for weapon and engineering
- The facility is a trusted supplier of reactor internals, niche products. Some examples of custom built
with a focus on indigenous design, development equipment at Powai.
consistently delivering to refineries globally under machines are high speed CNC turn-mill centre,
and production of naval (submarines and warships)
Process Licensors - Axens, Chevron, Exxon Mobil, vacuum sputtering for 0.6µ aluminium coating on The business is structured into two strategic
and land platforms (armoured systems, howitzers),
Haldor Topse, Shell, UOP and many more. This carbon epoxy shells a Robotic CMM machine and business groups (SBGs):
weapon systems, engineering systems, missile and
unit has also been supplying proprietary internals a LASER tracker.
space launch vehicle subsystems, sensors, radar
for CB&I-CLG, Scientific Design, Axens and Shell
systems and avionics. These are complemented by
Global. The facility has been catering to FCCU units
R&D and Design and Engineering Centres for targeted
Defence &
supplying FCCU cyclones globally in collaboration
L&T Piping Centre platforms, systems and solutions development. Aerospace
with a technology provider.
- Through its vast experience, VHEW has attained L&T Piping Centre (LTPC) serves a range of The Defence Engineering operations extends across
expertise for manufacturing and supply of core sector industries, from thermal and two R&D centres, three Design and Engineering
Ammonia Converter Baskets, Heat Exchangers and nuclear power to refineries, petrochemicals Centres, and six production centres across India:
other critical equipment for refinery and fertiliser and fertilisers. For our customers, LTPC - Submarine hull-building facility and an armoured
industries, under Process Licensors - Haldor Topse spells reliability, on-time delivery, cost systems manufacturing, integration and testing
KBR, Uhde, UOP, and so on. competitiveness and high quality standards facility at L&T’s Hazira Complex (near Surat)
- VHEW is involved in manufacture and supply of with no compromise on Health, Environment Defence
- Strategic Systems Complex for weapon and
Dry Shielded Canisters to Orano, USA, thereby and Safety.
engineering systems and sensors at Talegaon
Shipbuilding
becoming the only unit in India exporting nuclear near Pune
power equipment. This unit is also a significant
- Aerospace manufacturing shops for India’s space
contributor and partner to many strategic
- LTPC has proven capability to handle Gr.P11/P22, launch vehicle subsystems at Powai (Mumbai) and
programmes for the Government of India. These
P91/P92, WB36, stainless steels, incoloy and API 5L Coimbatore
include supply of Retorts for titanium extraction,
grade materials. - Aerospace and missile subsystems manufacturing
reflective panels for fast breeder reactor and
advanced structures of titanium. - With a total land area of around 38 acres, at the Precision Manufacturing & Systems Complex
comprising an open warehouse, covered and Centre of Excellence for Advanced Composites
- Fabrication facilities include a CNC Water Jet
warehouse and fitting storage shop, the campus is at Coimbatore
Cutting machine for maximum 250 mm thick,
well connected by rail, road and sea routes. - Strategic Electronics Centre at Bengaluru
column and booms and automatic grinding
machines. Machining facilities include CNC - Modern shipyard at Kattupalli near Chennai
horizontal boring machine with 150 mm spindle
diameter, CNC vertical turret lathe up to 2,600 mm
diameter, a four-axes vertical machining centre and
Arboga Drilling machine.
86 87
Defence and Aerospace modular construction, construction under covered

shops, use of a ship-lift with dry and wet berths,
Over the years, the Defence and Aerospace (D&A) etc., to enable simultaneous construction of different
business has built a wide range of indigenous classes of vessels until near completion on land,
products, systems, solutions, platforms and and then launching them through the ship-lift. It is
technologies through in-house efforts as well as the only Indian shipyard with Industry 4.0 practices
by teaming up with the DRDO, and participated in embedded, enhancing construction efficiency, cycle
the Indian Navy’s indigenisation programme for the time and build quality.
development of a range of engineering systems and
weapon systems within the country. Till date, the SBG A dedicated Warship Design Centre at Chennai
has indigenously developed more than 250 defence is equipped with the latest integrated 3D design,
products, and more than 50 of them have been analysis and Product Lifecycle Management tools, and
delivered in serial production mode. The business interfaced with project management and ERP systems,
model is uniquely differentiated through its focus in line with global best practices.
on in-house technology and product development, The Kattupalli Shipyard has been largely engaged in
innovation for serial production, mature and equated new builds and refits/repairs of defence ships of the
partnerships with global majors and through-life Indian Navy and Indian Coast Guard. Since 2010, the
support offerings. Shipbuilding business has designed and constructed
The SBG also has a Joint Venture (JV) with MBDA, a 62 defence vessels and delivered 61 of them, which
global leader in missiles and missile systems by range include a floating dock for Indian Navy, interceptor
of offerings and exports. The JV is well positioned to boats and offshore patrol vessels for the Coast Guard
indigenously offer advanced missile systems to the in record time. A global benchmark was attained by
Indian Armed Forces. the Yard in the sea acceptance trials of a 2,130 MT
class offshore patrol vessel by completing the entire
acceptance trials in the maiden sea sortie of the vessel
Defence Shipbuilding to affirm its design and build quality.
L&T’s Shipbuilding business offers end-to-end
The business does not manufacture any explosives or
solutions for design, construction of defence ships
ammunition of any kind, including cluster munitions
and refit services. The business owns and operates
or anti-personnel landmines or nuclear weapons
a greenfield mega defence shipyard at Kattupalli, L&T has provided critical subsystems for most of India’s space missions
or components for such munitions. The business
near Chennai, located across a sprawling 980-acre
also does not customise any delivery systems for
complex. The Kattupalli Shipyard is India’s largest Powai, Mumbai Kattupalli, near Chennai
such munitions.
shipyard, considering just the first phase spread
Powai unit caters to the precision equipment - Designed for modular construction and repair of a
across 150 acres that has been operational for nearly
manufacturing needs of the Aerospace and wide range of defence ships and submarines
a decade. The design and construction of the yard
Defence industries. - Houses our Warship Design Centre
is modelled to adapt global best practices, such as
- Equipped with automatic blasting and priming line,
plasma-cutting machine and advanced hydraulic
- It houses a dedicated unit for design, simulation, press/forming machines and large assembly
prototyping and testing of various Defence workshops with heavy material handling facilities
systems and software. The Product Technology &
Development Centre (PTDC, Campus) has a multi-
skilled workforce with specialists spanning diverse
areas of technology.
- The Centre has core capabilities in technology,
development, concept design, system
Integration and Prototyping for the Defence and
Aerospace Sector.
- Submarine Design Centre undertakes extensive
design and offers comprehensive solutions for
submarine construction. Our contribution to India’s
first indigenous submarine includes 3D modelling
and detailed engineering.
88 89
Hazira, Surat Talegaon, Pune

Hazira Manufacturing Complex (HZMC) is L&T’s Strategic Systems Complex (SSC) is a state-of-
L&T’s state-of-the-art manufacturing facility the-art facility at Talegaon (Pune) in Maharashtra. It
located on the banks of river Tapi near is one of the finest facilities for realisation of series
the Arabian sea (about 16 km away from production and proto versions of Strategic Weapon
Surat, Gujarat). Platforms, Sensors and Military Engineering Systems.
This state-of-the-art facility showcases cutting-edge The facility is specially designed to undertake
manufacturing and system integration technology for manufacturing, assembly, integration and testing of a
the largest and heaviest equipment complemented wide range of complex defence products.
by the best pool of engineering talent, and skilled
manpower eager to take on the challenges to
better global benchmarks in size, scale, weight, Coimbatore
and complexity. The facility is involved in the niche The Precision Manufacturing Systems Complex
technology activities of building submarine hulls; (PMSC) was created in 2010 to cater to the exacting
outfitting and system integration of vessels. and growing demands of precision products in the
The latest addition to HZMC is the Armoured Systems Defence Aerospace sector. The facility addresses
Complex (ASC) that is currently executing an order for needs of the customers for missiles, UAVs, Aero-
K9 Vajra-T 155 mm 52 calibre Tracked Self Propelled structures and space related subsystems.
Howitzers for the Indian Armed forces. ASC is a
50 acre, green-field state-of-the-art manufacturing Kattupalli Shipyard
facility created to manufacture, integrate and test The State of the art precision machining, fabrication,
advanced Military Armoured Platforms such as Self- electro mechanical integration and testing facility
propelled Howitzers, air-defence systems, infantry is capable of serially producing and testing missile
combat vehicles, future-ready combat vehicles and subsystems. The facility today delivers Subsystems to
battle tanks. most of the tactical & strategic missiles in the country
This newly established and ultra-modern complex and also for a few offset programmes.
comprises a 320-metre-long bays of 30 metre and The two heavy precision shops are capable of
15 metre shops with in-house Robotic Hull & Turret fabrication, machining, heat treatment painting
Welding, CNC Machining, System Assembly and of motor casings for Dia 2.8 m class, 3.2 m class
Integration, and a Special Purpose Mobility Test Track of Rockets. The facility also specialises in the
facility to roll out the entire armoured platform from manufacture of light alloy structures such as heat
the complex. The full-fledged mobility test track, shields, interstages and base shrouds for all the Indian
specially designed for rigorous testing, acceptance launch vehicles.
and qualification of armoured vehicles, ensures that
every vehicle delivered meets the most stringent The Composite & Aero-structure Assembly shop is
quality standard and is battle-worthy across terrains. used to build composite airframes, aero-structures
This state-of-the-art facility undertakes activities of including wings for fighter aircraft, as well as
complex assembly of optics, electronics, mobility airframes for hypersonic vehicles.
systems, hydraulic systems, structural members, LTMMSL (L&T MBDA Missile Systems) has set up a
precision components, etc. It has multi-disciplinary dedicated missile integration facility in SEZ area at
skills working together in sync on such critically Coimbatore for assembly, integration and testing of
integrated platforms. the missile launcher and missile sub-systems. This
state-of-the-art facility for missile integration, spans 4
acres and includes climate controlled space.
Office Building, Kattupalli shipyard
90 91
Metallurgical and Material L&T Valves

Handling (MMH)
PAGE 177 PAGE 196
Finishing Mill for Rourkela Steel Plant HIPPS (High Integrity Pressure Protection System) prevents catastrophic over-pressurisation
and release of toxic flammable fluids
Overview Overview Malumichampatti, Coimbatore

L&T’s Metallurgical and Material Handling business The complete range of product solutions is backed by L&T Valves (LTVL) is a leading manufacturer of - Occupies 24.66 acres and houses R&D offices, labs
offers complete EPC solutions for the Mining, five decades of experience and knowledge, in-house industrial valves and has a global customer base and facilities to manufacture gate, globe, check,
Minerals and Metals sectors across the globe. design resources, state-of-the-art manufacturing across key sectors, such as oil and gas, defence, ball, butterfly and plug valves
The business undertakes end-to-end engineering, capabilities and providing cost- effective and nuclear and aerospace, power, petrochemicals, - Provides customised solutions for nuclear, defence
procurement, manufacture, supply, construction, value‑added after-sales product support. The chemicals, water, and pharmaceuticals, across the and aerospace industries
erection and commissioning of the projects covering manufacturing centres of the Product BU are in globe. LTVL manufactures a wide range of products
- Operates Valves School, a training facility for
the complete spectrum – from mineral processing to Kansbahal, Odisha and Kancheepuram, Tamil Nadu. such as gate, globe, check, ball, butterfly and plug
customers
finished metals. valves and automation solutions.
- A zero-discharge unit and meets the requirements
The business also has a Product Business Unit Kansbahal Works, Odisha The business has two state-of-the-art facilities in Tamil of ISO 14001:2015 and ISO 45001:2018
offering comprehensive product solutions, including - Has a facility for fabrication, machining, assembly, Nadu, India and two facilities set up in the USA and
customised mineral crushing equipment for the casting foundry and under carriage works. Saudi Arabia.
cement and coal sectors, surface miners for blast- Kancheepuram
- Is an ISO-certified unit accredited with ISO: 9001-
free eco- friendly open cast mining, advanced sand - Spans 18.93 acres and houses R&D offices and
2008, ISO: 14001- 2004 and OHSAS 18001-2007
manufacturing plants which can replace usage of facilities to manufacture gate, globe, check, ball
certifications by DNV.
river sand, material handling equipment (stackers, and butterfly valves (especially large-size valves)
reclaimers, ship unloaders, multipurpose cranes and - Manufactures a wide spectrum of critical industrial
products for core sectors such as cement, steel, - A zero-discharge unit and meets the requirements
other mining equipment), steel plant machinery
paper, power, mineral and railways. of ISO 14001:2015 and ISO 45001:2018.
and other custom-made equipment and critical
fabricated structures (such as bridges, reformer
modules and complex assemblies involving heavy L&T’s Engineering Workshop (LTEW),
fabrication, precision machining and critical assembly Kancheepuram
& testing) catering to core industrial sectors, including
cement plants, the mining sector, power plants, the - An ISO 9001-2008 certified workshop, undertakes
construction industry, steel plants, fertilisers and fabrication and supply of plant and equipment,
chemical plants, etc. including sophisticated, custom-designed
equipment components for core industries such as
steel, power and refinery, among others.
- Has been accredited with ASME U2 stamping for
fabricating high-pressure vessels.
92 93
Intellectual Capital TOTAL PATENTS OWNED
46
TOTAL R&D SPENT
` 226 Million
AWARDS WON FOR INNOVATION
11
NEW PRODUC TS/SERVICES
DEVELOPED THROUGH R&D
101
NO OF R&D DESIGN ENGINEERS
227
as on March 31, 2021
To continue to make business
progress, it becomes KEY MATERIAL ISSUES
imperative to continue the IMPACTED
innovation journey to stay - Occupational health and safety of employees
relevant across time. At L&T, and contractors
our innovation efforts construction and EPC services
are backed by advanced - Climate change mitigation and GHG
technology, helping us emissions
deliver projects which are

set new benchmarks within SDGs IMPACTED
their space.
STRATEGIES IMPACTED
S O1 S O2 SO3
S E1 SE2 SE5
94 95
Intellectual Capital
RESEARCH AND DEVELOPMENT PROJECTS DIGITAL INITIATIVES

Structural parametric studies on light weight Structural design optimisation of tall and Buildings and Factories
aggregate concrete using sintered fly ash mid-rise buildings using genetic algorithm
technique Process/Employee focused (for internal purposes only)
Depletion of natural aggregates calls for alternative
sources. Lightweight aggregates produced The analysis and design of tall and mid-rise buildings
artificially from industrial waste materials such as are usually performed by using commercially WISA (Workforce Induction EHS App (Application for site Ib4U (Inspect before use)
slag, flyash etc., can potentially replace natural available structural design software. The software and Skills Application) execution team for creating, application used for inspecting
aggregates. Besides, the utilisation of industrial are developed to perform the required analysis and New Inclusions: safe to start card, raise EHS plant and machinery assets,
waste as construction material also helps in solid design of various structural members for the given labour colony module, Covid observation, conduct PEP talk, tools for periodic maintenance,
waste management. Also, light-weight aggregate structural, material and geometric properties of Protocol checklist & Safety suggestions) conduct third party inspection,
concrete has several advantages over conventional various members. Various codal requirements on the Training Module for workers labor colony and other
such as providing lower dead weight of structures structural behaviour under the given set of wind and inspections
to reduction in erection costs for precast structures. seismic forces make the analysis iterative and time New Inclusions: Third party
However, it still lacks mass production. consuming even for high-end computers. Besides, inspection for strategic assets
obtaining cost optimum structural design requires conducted jointly by external
This understanding of behaviour of structures is
special attention as the nature of the optimisation Conquer App (Quality Procube - Project progress agency and P&M Staffs.
important to safely design and construct light weight
problem is highly discrete and multimodal in nature. application) mobile monitoring software
aggregate concrete structures. At L&T Construction
Hence, an optimisation technique using a simple application for conducting/
Research and Testing Center, we planned and
genetic algorithm has been developed to handle this raise inspection for
conducted a comprehensive experimental programme
optimisation problem. preconcrete check, post
to study the properties of lightweight concrete. The
results were obtained and compared with similar This technique mimics the natural evolutionary concrete check, quality
grade normal aggregate concrete and compiled into processes like reproduction using Darwin’s theory, walkdown, customer and
a detailed report for future reference to help design crossover, and mutation of genes. The software executive feedback
engineers gain insight into its behaviour and boost named ‘iBOSS’, (intelligent Buildings Optimum
future usage. Structural Sizing) has been successfully applied to
many real time problems and has yielded practical FORM FIT - Solution to track RPA - Robotic process HPC Procurement tracker -
solutions with the savings of about 5-10% in the formwork panel and its automation for Finance Digital solution to record all
structural quantities compared to the solution repetitions team and P&M team to avoid the quotes provided by the
obtained from the conventional design approach. mundane work carried by BOT vendor, prepare a comparison
instead of staffs statement and keep track of
all the package status with
different stakeholders
The IoT Innovation Hub in Bengaluru is where IoT solutions come to life – from connected workers to smart fuel dispensers Mindtree West Campus, Bengaluru
96 97
DIGITAL INITIATIVES DIGITAL INITIATIVES

Heavy Civil Infrastructure Water and Effluent Treatment
Digitisation Initiatives Process/Employee focused Digitisation Initiatives Process/Employee focused (for internal purposes only)
ConPro - Digital It is a digital application for end-to-end tracking of concrete chain focusing on Risk An Enterprise Risk Management EDMS Inhouse developed engineering
Concrete Chain wastage reduction. It is accompanied with detailed dashboards for wastage Management system to capture all technical document management
monitoring and Automated Concrete Reconciliation for better insights and decision - ERM and financial aspects of tender to system to schedule documents,
making. The initiative also won the Best Innovative Digital Solution 2020 across analyse the risk associated and its communication, transmittal,
Construction businesses. probability and impact in order to generate workflow/reports
prepare suitable mitigation plan and to store documents which
facilitates document revision
AI Contracts Identifying risky clauses from control for projects.
Cognitive Search It is an intelligent search engine to address the information needs of site engineers,
(Under tenders through NLP thereby
resulting in improved EHS & quality compliance at the projects. The engine
Development) assisting contracts team to ensure Constzon A powerful catalogue
helps to carry the usual voluminous EHS & Quality data such as SOPs, Standards
no risks are overlooked during management tool meant to drive
& Specifications, Manuals in fingertips for easy reference and accessibility for
bidding process. standardisation and optimisation
engineers at site through mobile.
in the procurement process. It
Geospatial Utilising latest technologies provides benchmark rates for
survey like LIDAR, drone, Satellite all major services and materials
Workmen Attendance Centralised online biometric attendance system along with Workmen Management imagery, DGPS, etc. for survey. procured, and guides the buyer
and Management Application, an Activity based workman monitoring system is being implemented These technologies enable us to buy at the best price.
System across all the projects in the business. This initiative helps in improved workmen to complete the survey in a
monitoring, job allocation and utilisation. short span of time with higher MST Online system-based Material
accuracy. Scheduling Tracker application to
plan and track the actual status
BIM BIM is a shared digital of the complete procurement
representation of physical and cycle from EMR to MRN.
Client focused (for external purposes only)
functional characteristics of any
built object (including buildings,
DMS This unified Document Management System is being implemented across bridges, roads, etc.) which forms
major projects in the business for digitally managing all communication in a a reliable basis for decisions.
single solution. This enables improved project management, execution and
delivery through proper collaboration, improved traceability/documentation,
and knowledge capture.
Mumbai Trans-Harbour Link SAUNI Yojana Lift Irrigation Scheme, Gujarat
98 99
DIGITAL INITIATIVES
Water and Effluent Treatment
Process/Employee focused (for internal purposes only)
LMNOP+ A mobile based application ViewEHS Mobile app with online system ePragati An online platform designed and GIS Progress Integration of Geographical
- Locate developed in-house to help the to help the site team to access all developed by L&T’s WET business Monitoring Information System (GIS) and
Measure project execution team to access SOPs and forms for submission to for monitoring the operating project management with
Navigate on all design data, topography and verification, thus ensuring projects. The project monitoring visualisation is recognised as one
Phone + GPS survey data and other project 100% safety compliance as per includes the processes to ensure of the most important tools in
catalyst parameters at any points of time the standards. that the project is planned construction. Pipeline networks
through mobile. It is additionally and executed according to can be monitored using GIS with
connected with GPS Trans- Knowledge Empowers users to search client’s requirements. It includes differentiation of coding with
receiver to help the execution Finder EHS (KF and retrieve any information scheduling, tracking, reviewing respect to status of work.
team to work offline in remote EHS) pertaining to EHS in both text and managing the progress and
locations and forest areas with and image form. The specific performance of the project along
no mobile signal. answer to the query followed by with managing changes when
a redirection to the document required.
MFlow Is developed to digitally monitor containing the exact information
and track the materials issued with minimum time is the unique
and consumed in every project feature of the solution.
QIR Mobile based application to Conquer This Construction Quality Enabler
done by WET IC. M-Flow
The module has a vast repository ensure quality effectiveness is a comprehensive Quality
provides a real time visibility on
of EHS documents including 133 of projects for identification Platform which will enable
the project material consumption
SOPs, HIRA and EAISR for 216 and rectification of quality all quality process of projects
status and for reconcilliation.
activities including routine and observations via proper workflow Conquer will facilitate. The
non- routine activities, Master approval. inspection and documentation
Legal Register, EHS Alerts of last process for the construction and
P-FAB In-house solution to ensure
4 financial years, good practices, Project An objective measure of a quality teams.
quality compliance at every
compliance and non-compliance Quality Index project’s quality measure with
stage of pipe fabrication in the
images from EHS observations, (PQI) respect to different parameters.
factory by monitoring progress
audit findings, EHS Today Every project is supposed to Vendor A comprehensive 360-degree
of production and ensures 100%
and many more documents update the PQI parameters on a Performance performance rating system
pipe traceability by having online
and pictures related to EHS monthly basis. Rating to evaluate project execution
data base for all quality reports
activities will get added into the capability and efficiency of sub-
and progress reports. The PQI is a derivative of 3 indices
knowledge base in future. contractors and suppliers which
1. Engineering Quality Index
helps the project team to decide
Smart Glass A combination of hardware 2. Procurement Quality Index on scope management with sub-
and software solutions used to
SWADESH SWADESH helps in assessing 3. Construction Quality Index contractors and also helps Top
observe the project progress,
safety observations based on Management to review the past
safety, quality, workmen welfare Each index has a list of
the severity of its potential and current performance of sub-
and administration from any parameters which are scored
impact, the number of contractors and vendors before
remote location. individually. A total score is
repetitions, location of work awarding new contracts.
derived for each index based
and staging height where it was
on the weightage assigned to
recorded. This online dashboard P&M Asset Plant and Machinery are the
individual parameters.
highlights and tracks the safety Insight key drivers of project execution.
performance of project based on The final PQI for a project is These assets are either owned,
Risk Score, Repetition Percentage, calculated by summation of hired or subcontracted. The
and Average Repetition Risk individual index scores after optimal utilisation of P&M assets
Score. factoring the weightages can be achieved by monitoring
assigned to each Index. through a telematics device. The
data captured helps in planning
mobilisation and demobilisation
of the assets.
100 101

Water and Effluent Treatment Power Transmission and Distribution
Analytical Dynamic and insightful analytical WISA The entire workmen induction Empower An integrated tool for project VR Training Immersive Safety training
Dashboards - dashboards for Top management and screening process has been monitoring including material modules for workmen and staff
HR, Finance, and department heads to digitised and is contactless. The tracking at site using virtual reality
Safety, monitor, control and take data system also provides a digital pass
Quality, based decisions on operational to each workman comprising the Time lapse Capturing timestamped photos WISA Application for managing
Engineering parameters and functions workman’s relevant data through Camera for documentation, visualisation workforce induction and skills on
like HR, Finance - cashflow, QR code. Workmen attendance and monitoring purposes a digital platform
JCR, site progress monitoring, can also be captured through
engineering document Status, the mobile app using facial Geospatial Web portal integrated with
vendor performance, quality recognition. Portal Align and Empower for project
effectiveness and safety visualisation in a geospatial Video A POC through video analytics
compliance of sites CMMS - System digitised O&M assets, format Analytics for identifying PPE, face mask and
Computerised getting routine maintenance social distancing violations
Workmen An application to send Maintenance transactions translated to Prapti Scientific planning for businesses
Uberisation manpower requirement directly Management management metrics. Setting Bodhi based on historical data on QIR App Mobile application for quality
App to the subcontractors from EIP goals and tracking maintenance volume and productivity and incident reporting and closure,
Database. of each asset in various O&M sequencing done by the system, toolbox training record and SOP
sites. Visualises and analyses the based on the project variables. modules
Digital Health A kit that can be utilised to life history of each asset easily Predicting schedule variances
Monitoring monitor 8 key health parameters and is the complete user‑friendly based on progress and trade off T-TRAX RFID-based solution for tracking
of workmen in under 5 minutes. solution for maintenance analysis for course corrections. tower bundles across factories
This can be utilised prior to activities. and site locations to improve
onboarding workmen or for EHS App Mobile-based application for PTP, towerwise visibility, traceability
routine health check-ups. RMS - Remote Using RMS, the real time data of DWP, shut down operation and and lot completion
Monitoring the all the sites will be available managing safety observations
System at HQ and the necessary with checklists and workflows to Digital Stores Applications to handle material
intervention in operations can be ensure plan, communication and from issue to consumption at site
made immediately if there are action. with proper reconcilaition
any instances of non-functioning
of equipment/abnormal process
changes.
375 MLD Sewage Treatment Plant, Jebel Ali, UAE Lambir 275,132-33 kV Gas Insulated Substation, Sarawak, Malaysia
102 103

Power Transmission and Defence
Distribution IoT @ Hazira Monitors and enhances Man Hours Process automation in Man Hours
for Welding quality and utilisation, through Booking System Booking system
Empower Remote monitoring of P&M Machines analysing data pertaining to Automation
equipment for utilisation and process, welder, welding,
conditional monitoring machine, consumables, job and EHS Audit and Digital platform to audit
environment. Inspection and inspect safer working
For Cranes’/Robos – monitor and platform environment to minimise the
Factory IOT Monitoring of OEE (overall
enhance health and utilisation risk of workplace injuries,
equipment effectiveness) through
minimise down time by detecting
IoT data
sQMS Complete online digital quality early risks, lower repair and
management system right maintenance cost, improve
Dhruv Simplified survey with BOQ
from receipt inspection to equipment availability
through mobile application and
GPS device to reduce survey time dispatch inspection with online
documentation and track history. LTMMSL Real time analytics of various
IT-Security security devices like Firewall,
GIS For engineering purposes and
Monitoring Active directory, Exchange server.
quantity estimation News Collate defence related information
clustering from various sites to identify Correlate various events to
Drone survey Survey through photogrammetry various business opportunities and identify potential attacks and
using drones competitors updates. AI/ML help visualise the health of the IT
to read various sources of news security through the dashboard.
Fibertrack App for ensuring tracking and and identify related topics making
monitoring of patrollers and a quick summary to give the gist Robotic Various robotic process
O&M of around 16,300 km fibre of the news classifying various process automation in areas of Quality,
network topics as per business need and automation Design, F&A etc. with more than
a displaying it in a user-friendly 7,000 man hours of saving by
Engineering Optimisation
interface. automation
Development and testing of web
based solution using Python
Online Bid Making the entire bidding e-File Note Digitised solution for file note
Programing with optimiser engine
management process online (RFP>Pre‑bid preparation as a centralised
and migrating the structural logic
Queries>Technical and repository of project budget
from excel sheet to backend
Commercial Bid preparation bookings, savings, forex spend
services
and compilation>Compliance etc.
Table>Risk Mgmt>Print and
AI For Contract comprehension includes
Submit Bid>Capture Bid
contracts and clause key clause identification,
result>Analytics)
engineering risk quantification, document and
datasheet extraction
BOT for Hedging entry generated from

Finance the Treasury inputs by the BOT
Transmission Lines Offshore Patrol Vessel
104 105

L&T Hydrocarbon Engineering Realty
Process/Employee focused Process/Employee focused Client-focused
internal use
SMART Glass/Merge Connected worker solution Marine Vessels Fuel Monitoring
reality solution for remote using IIOT at offshore projects System using Smart Sensors on Digitally most advanced - Salesforce CRM for - Website on ‘Platform
inspection, supervision and for worker productivity and Chartered Vessels office space offering with managing effective as a Service’ PAAS
management. safety management. the usage of CISCO Software Interactions with customers. mode with Chatbot
Define Network, Secutech - Community Portal and for prospects lead
ELV & LTTS iBEMS solutions Chatbot for Customer Self generation.
for optimising the utilisation Service.
AI/ML based video analytics Material handling equipment Marine Integrated Transport of energy and space
- Commercial Portfolio
solution for machine tracking using IIOT at yards and Planning System (MITP) for Management solution on
utilisation and worker safety onshore project sites people and material tracking in Salesforce platform.
at Hazira and Katupalli Yards offshore
Digitally Advance Design - 3D Scanning of a - Smart Home Rollout

QR based piping spools and Integrated Project Management RPA (Robotic Process Process Commercial Towers for Tower 6 in
electrode tracking in yards System (EPSILON) for projects Automation) in Finance and HR 3D Modelling using Autodesk to provide a virtually Crescent Bay.
progress tracking to automate manual processes Revit for clash Detections and Walkthrough.
visualisation - Smart Building Video made
for promoting Commercial
Towers with 40+ sub
packages.
Client focused
Virtual Reality Solution SMART Glass/Merge Reality

for engineering model Solution for remote inspection,
review and approvals supervision and management
from client
Indian Oil Corporation Limited Bongaigaon Fluidized Catalytic Cracker Unit Residential project, Centrona, Mumbai
106 107

Metallurgical and Material Handling Transportation Infrastructure
Process/Employee focused Digitisation Initiatives Process/Employee focused
Superprocure SLIM App to track CHATBOT capturing WISA (Working Management Connected Assets and
App for tracking material daily progress report Solution) Geospatial
procurement using chat window During COVID-19, it has helped It has helped to monitor and
immensely by identifying and collect the data of its assets
approaching the workmen with remotely with the help of digital
Procube App for WISA App for workmen
specific skill sets during the chipset, LiDAR & drone-based
daily construction registration and
remobilisation planning. project survey.
progress reporting database
Power Smart World & Communication

Process/Employee focused The business successfully The business, in collaboration The business has also signed
launched its own Solution with DRDO, developed an a strategic Transfer of
Project progress AI enabled CCTV AI based COVID-19 AI based defect
Platform ‘L&T Fusion’ – an indigenous Mission Command Technology (ToT) with Centre
monitoring using surveillance at compliance check identification in digital
augmented Intelligence platform & Control Software (In-House) for Development of Advanced
CCTV Khargone stores radiography
aimed at solving the problems of for perimeter security. Computing (CDAC) for TETRA
cities, law enforcement agencies technology.
AI RPA - GSTR-3B Automated - unmanned Material issuance using Volumetric survey and critical infrastructure.
Sheet preparation weighbridge at Buxar KIOSK at Buxar using drone
City Operations Centres (COCs) Variable Message Displays AI-based system monitored
Parametric Price STARRT Card mobile
across all the smart cities were (VMDs), Public Address Systems vehicle movement through
Prediction for cable application for faster
working as war rooms during (PAs), were efficiently used to cameras.
and cable tray work pass approval
the entire duration of the spread awareness messages.
pandemic.
Heavy Engineering
After successful TPM application to AI tools like NLP, In paperless initiatives,
Mask-detection application: Mobile-based app for the issue Crowd analytics across
implementation of measure online OEE, RPA and ML are developed smart
Based on AI, helping to track of a chatbot-based e-passes Commissionerate to generate
IoT stations in Hazira MTTR, MTBF and implemented in cost applications like
and enforce wearing of face alerts on overcrowding
East side shops, 16 predictive maintenance estimation and proposal Incident management
masks while monitoring social
IoT stations for weld etc. Total 75 machines engineering system. system, Medical
distancing.
overlay stations are are covered under TPM. Module, Dangerous
developed for Hazira Occurrence (DO) and
West side shops. near miss module,
Reported Safety
Project monitoring Advance metrology for Further focus is on Concerns (RSC) and M-governance app, developed In Tamil Nadu, the business
tools like PROTON, digital inspection and office automation with Behavior Based Safety for Vizag Smart City, is entrusted with hosting
DIGI-EYE, CREMS marking and Digital the help of RPA, ML, (BBS) reporting, empowered health workers to e-governance of 190 critical
become part of Twin for virtual set up image processing and training modules. carry out house surveys government applications.
system to keep is a way of life now. 20 autonomous welding in
project on time. procedures have been manufacturing.
established.
108 109
Human Capital TOTAL EMPLOYEE STRENGTH
50,092
ENGINEERS
The ingenuity and enterprise
of our people play a key role 37,390
in driving seamless operations
in the ever-evolving business MEDIAN AGE
environment and deliver
projects effectively on time, 33 years
every time. At L&T, we strive
to create an enabling work AVER AGE TR AINING HOUR PER
EMPLOYEE
environment that encourages
continuous learning,
promotes inclusivity and
12 hours
equality and ensures a healthy
and safe workplace. SAFET Y TR AINING HOURS
3.2 mn hours
KEY MATERIAL ISSUES
IMPACTED
- Occupational health and safety of employees
and contractors
- Labour management
SDGs IMPACTED
STRATEGIES IMPACTED
S O1 S O2 SO3 SO5
SE2 SE4
110 GRI Disclosures 102-41, 103-1, 103-2, 103-3, 402-1 GRI Disclosures 102-7, 102-8, 102-41, 103-2, 103-3, 402-1, 404-1 111
Human Capital
The learning hours were high despite the pandemic
situation. There was on an average 11,000 hrs of to
24,000 hrs of learning per month (excluding data of
Learning and development in April to Sept).
the new normal The team also delivered two other important
programmes to help effectively train the new joinees.
The pandemic shattered the myth that work is possible only GET orientation: The courses were specially curated
in a physical workplace. A large proportion of the working and provided to all the GETs before joining L&T.
population selected ‘Work From Home’ worldwide and it 1,100+ GETs who joined L&T in FY21
became almost a way of life. L&T’s learning and development were enrolled in this seven module course.
(L&D) team identified an opportunity in this adversity and
quickly adapted itself to working in the new normal with the Newbie to Knowbie: The leap is a six-month blended
theme around ‘L&D-Delivering in the new normal’. journey programmes for first-time managers. It was
launched just before the pandemic hit. The first batch
Management & Organisation Development: The team was had 189 enrolments while the second batch was
quick to recast its benchmark programmes into the virtual launched in Feb 2021 and the enrolment touched 534.
mode by adapting the content and delivery system to suit
the virtual delivery mode. The core Supervisor Executive Corporate Technology and Engineering
Development Programme and Management development
Academy (CTEA) Madh & Mysuru Leadership Development Academy
programmes were all delivered in virtual mode. The STEP
programmes such as were recast to the virtual mode, At L&T, we undertake employee development at Our Leadership Development Academy (LDA),
maintaining the same high standards of the traditional these academies. It takes place at 3 levels. situated in the tranquil environs of the popular
mode. Distance did not matter as the team could leverage hill station Lonavala, contributes to its scenic
Level 1 includes all young recruits such as GETs, DETs beauty and serenity. Established in 1997, it
the involvement of Directors, Senior Leaders and customers
and FLS (frontline supervisors). offers an appropriate ambience for learning and
through these programmes by connecting virtually. The team
conducted several programmes, pushing the pedal on learning. The pandemic led us to onboard GETs/PGETs virtually development.
and the CTEA offered technical training online to It was born out of the vision to fulfil the constant
make them industry ready. The highlights of the demand of corporate India for a holistic learning
programme were the use of effective PPTs, videos,
1.9 Lakh 5.06 Lakh simulations and gamification techniques, virtual
centre that will help manage their training
programmes better. Even after two decades,
Courses conducted Hours of courses industry visit, hands-on using virtual labs for subjects the Academy continues to meet the objective of
against 44,000 in FY20 conducted in FY21 such as PLCs, context setting by L&T business leaders emerging as a preferred training destination for the
group project-based learning. L&T group.
Summary of the programmes conducted by this team in various categories: Level 2 training helps develop competence needed by The residential academy is equipped with relevant
employees to hone their knowledge and skills at their infrastructure to conduct various types of training
Programme type Total programmes By international faculty By external faculty
workplace. During the pandemic, CTEA conducted programmes. Capable of accommodating multiple
Leadership development 2 0 2 about 350 virtual instructor led training programmes levels of leadership programmes at the same time,
Core development 13 0 13 (VILT) covering 7,000+ working professionals. this campus holds the distinction of being one of
Competency development 31 29 2 the few places that have been designed exclusively
Level 3 aims to provide ‘Windows to the Future’ and
Calendar 26 21 5 the academies conducted regular coffee sessions on to meet our growing demand for training.
Accreditation 1 0 1 emerging technologies to de-mystify and encourage LDA recognises that learning happens through
HR for HR 3 2 1 everyone to embrace new technologies and gain the discussions/debates in classrooms, in the privacy
Business requirements 116 116 0 competitive edge. of a library, or in the quiet repose of a recreation
Webinar 33 0 33
During the pandemic, CTEA conducted a 3D model room. This integrated facility provides all these
design competition online covering 800+ participants. advantages to nurture thought leaders and
The team designed specific programmes during various phases of the pandemic:
entrepreneurs of the future.
a) the initial crisis;
b) new normal;
c) the bounce-back.
The ATL (Any Time Learning) team: Over the years, we have made online learning a culture that is well
entrenched within the organisation. This was further magnified during the pandemic with the team rising up to
meet the increased demand.
Human Capital
L&T IPM drives excellence in project L&T IPM has strong associations with the following DIVERSITY AND INCLUSION
global bodies:
management We foster a culture that celebrates the diversity in
- Project Management Institute (PMI®) our talent pool. At L&T, our employees cut across
L&T IPM commenced its journey in 2008 to create L&T IPM is headquartered in KC Residency which is
global project management professionals. It was set part of a sprawling 115-acre L&T Knowledge City, - International Project Management Association the barriers of race, gender, nationality, caste and
up for furthering excellence in project management Vadodara and the second campus is located at L&T (IPMA). age, reinforcing us as an inclusive organisation. The
with a basket of globally benchmarked courses. Construction campus, Manapakkam, Chennai. The It has established strategic partnerships with culture encourages cross-pollination of ideas and
lecture halls are equipped with state-of-the-art renowned global institutes such as: perspectives and challenges the ‘business as usual’
project management tools and professional software. approach to seek feasible solutions to concerns
- SDA Bocconi School of Management (Italy)
The entire five phases of a project lifecycle – initiating, Other facilities include syndicate rooms, a well- that really matter.
- Cranfield School of Business (UK)
planning, execution, monitoring and controlling equipped library with online access to international Our unique platform ‘Renew’ empowers female
and closing – are covered in its pedagogy. L&T journals and digital resources. In addition, there is - George Washington University (USA)
professionals to continue their corporate journey
IPMs offering comprises flagship programmes, a world-class clubhouse, along with recreational - University of Texas Austin (USA) following a maternity and child-rearing break. We
role-based programmes, online programmes, facilities to make the learning experience truly - Indian Institute of Management, Ahmedabad have put in place a stringent redress mechanism
project management certification, software-tool international. Each programme is designed to be (IIM-A, India) (under the Protection of Women’s Rights at
based programmes, SCDMs (Specific Competencies highly interactive and driven in terms of situational Workplace Policy) to evaluate complaints from
- Indian Institute of Management, Indore (IIM-
Development Modules) and customised programmes learning by promoting active participation by project our female employees. We have constituted apex
Indore, India)
considering project management functional and professionals and innovative pedagogy through the and regional complaints committees to address
strategic aspect requirements of projects for training use of live cases, games/simulation, templates, tools - National Institute of Construction Management
specific cases of sexual harassment if any at the
L&T-ites in the field of project management. and techniques and project videos. and Research (NICMAR, India)
workplace.
The course content was developed spanning - Royal Institute of Chartered Surveyors (UK)
emerging scenarios in the project environment, and
its application to domestic and international practices.
These institutes help deliver a globalised project
management curriculum. Some executive education
24.82% 8%
The curricula are reviewed periodically by industry Of personnel with Share of women in
programmes are co-designed and delivered along
experts and renowned academicians to keep our 10+ years in L&T senior management
with these partners. As part of its global initiatives,
courses relevant.
international faculty from leading business schools/
universities regularly visit L&T IPM and joint research/
case development is also undertaken for knowledge
creation and dissemination in this ongoing journey
of fulfilling L&T’s dream of creating global project
management professionals.
The core aim of L&T IPM is to create a pool of
well‑trained project professionals. Under the able
leadership and guidance of the Project Management
Council (PMC), it is committed to developing
contemporary programmes that strengthen project
management talent to meet evolving business
aspirations. These initiatives are empowering our talent
pool with the right skillsets that would enable them to
perform their roles better. The efforts in this direction led
to grooming people not only on the technical front, but
also in project management and leadership development.
2,642 hours
of training on Human Rights
provided in FY21
~17,000
L&T executives trained in
project management
L&T Institute of Project Management at L&T IPM
114 GRI Disclosures 102-13, 102-41, 103-1, 103-2, 103-3, 401-2, 402-1, 404-2 GRI Disclosures 102-41, 103-1, 103-2, 103-3, 401-2, 402-1, 404-2, 405-1, 406-1, 410-1, 412-2 115
Human Capital
Non-unionised workforce numbers ENSURING EMPLOYEE HEALTH AND SAFETY

(age-wise and gender-wise) Staff as on April 1, 2021
Our objective Integrated safety management
Gender Age Total
33 years At L&T, we have a Mission Zero Harm for Health and L&T EHS Council is chaired by Mr. Subramanian Sarma,
<30 30-50 >50 Median employee age Safety, making it a cornerstone of our philosophy. Whole-time Director and Sr. Executive Vice President
Female 1,435 1,463 155 3,053 L&T is committed to ensuring a safe workplace for (Energy). The structure of L&T EHS Council is to ensure
everyone through this mission. that the L&T Board of Directors is fully appraised of
Male 15,568 27,057 4,414 47,039
the implementation and direction of L&T Health and
Employee and workforce health and safety are
Grand Total 17,003 28,520 4,569 50,092 Safety Policy and systems across L&T.
accorded high priority in the organisation. Safety
issues and performance are reviewed periodically The Council undertakes periodic review of all
Attrition* (age-wise and gender-wise) New joinees (age-wise and gender-wise) by the CEO & MD, the Heads of the various accidents and incidents. It agrees and formulates
Attrition details (01/04/2020 to 31/03/2021) New Joinees (01/04/2020 to 31/03/2021) businesses, and by the L&T Board. Enhancing systemic procedures, based on risk analysis data gathered
Gender Age Total Gender Age Grand improvement and implementing best practices are through the respective business. This data is used
Total driven by the EHS Council chaired by Senior Executive. for predictive analysis measurement and enables
<30 30-50 >50 <30 30-50 >50 us to identify where the key areas of risk are. This
All senior managers and employees are required to
Female 278 178 9 465 Female 407 92 2 501 guides the Company to proactively manage and focus
embrace the Mission Zero Harm philosophy in the
resources to prevent any accidents or incidents. Such
Male 3,563 4,378 743 8,684 Male 2,505 1,741 176 4,422 execution of their duties.
analysis is shared across all businesses to support the
Total 3,841 4,556 752 9,149 Grand Total 2,912 1,833 178 4,923 We extend the Health and Safety commitment to L&T Mission.
(18.26%) our contractors and suppliers working on our behalf
A primary drive towards Mission Zero Harm is the
at our project sites or premises. The Corporate EHS
use of data collated on unsafe acts and conditions.
*Figures are excluding superannuation, 356 employees were Policy is translated into a viable strategy through a
This heavily features in our development of behavior-
superannuated Corporate EHS framework, which has well-defined
based safety awareness and training, leading to
procedures and guidelines. Each employee and
a more positive understanding of safety by staff
Employees covered under leadership development programmes (does not cover Leadership stakeholder under our policy plays a key role in
and focus in accident prevention furthering the
Development programmes done by the businesses) developing a safety organisational culture.
Company’s development of a safety culture among
Year 20-21 We have deployed EHS teams at each business and the workforce. Such data allows Executive Committee
project site, working in tandem with the project site members to be informed of active behavioural based
Category No. of Training No. of Training Man teams, to implement industry-leading safety practices. training and safety culture development.
Progs Days participants Days These teams also facilitate the implementation of
These include managing additional operational
Leadership 2 36 95 1,775 business specific EHS programmes.
risks, focusing on mitigating the risks for new team
CDP (Core Development Programme) 13 75 443 2,575 members during the early stages of deployment,
imparting safety training, enhancing supervision
Competency 3 22 251 2,506 across all areas of operation and so on.
Total - - 789 -
Men to women
remuneration ratio is
1:1
Ultra-supercritical/Supercritical turbine manufacturing facility at Hazira, Gujarat
116 GRI Disclosures 102-8, 102-27, 102-41, 103-1, 103-2, 103-3, 401-1, 401-2, 401-3, 402-1, 404-2, 405-2 GRI Disclosures 103-1, 103-2, 103-3, 401-2, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-8, 403-9, 403-10, 404-2 117
Human Capital
Extending safety guidelines Safety is embedded in the

to the suppliers organisational culture
In our Mission Zero Harm, our suppliers and The safety and wellbeing of all the contract workmen We organise a number of initiatives and campaigns
contractors are evaluated on their safety infrastructure at our project sites is important to us. At our to spread awareness of safety among our employees,
processes and strengths before awarding them a manufacturing locations and project sites, safety workforce and suppliers.
contract. A significant portion of our construction committees are constituted, and regular meetings
- L&T Safety Month theme: Let’s work towards an
activities is performed by workers on contract. This are organised. These committees comprise senior
accident free workplace. All the business and the
is to ensure that under contract our suppliers must management representatives, as well as union
project sites participate in Safety Month through
comply with L&T’s policies and practices. members. We have included unionised employees in
various training programmes and communication
the safety committee at our manufacturing locations.
The continued monitoring and measuring of campaigns. The overall direction and priorities
suppliers and contractors ensure a comprehensive These committees facilitate specific safety objectives, are communicated by the CEO & MD and the
understanding of safety requirements. This is in line with the Company’s ‘Mission Zero Harm’. In Executive Directors.
further enhanced by regular refresher training the collective bargaining agreement, specific clauses - Launched EHS-centralised reporting,
- Fire Service Week (2020) – Prevent fires, prepare
sessions and capacity-building programmemes. related to health and safety are incorporated as well. documentation, and performance measurement
yourself, promote safety
In addition, periodic site visits and audits by the system ISO 45001:2018 and ISO 14001:2015 and
audit modules, incident reporting and investigation - National Safety Week with a message to reinforce
senior management are conducted to improve EHS
module positive behaviour at the workplace to achieve
performance.
safety and health goals
- Introduced the Safety Task Analysis Risk Reduction
Talk (STARRT) Card - Developing innovative programmes to groom fresh
Safety statistics Diploma Engineers to perform the role of EHS
- Zero tolerance against wilful violation; visible
professionals
Safety dashboard Reduction % FY21 FY20 FY19 leadership in weekly management EHS
- Safety awareness programmes in specialised areas
Severity rate 87% 143.6 204.29 105.2 - Hazard Identification Tool (HIT) Card. This is
of tunnel, marine and launching girders in
to encourage all employees to report hazards
Frequency rate 82% 0.10 0.11 0.10
our metro, transportation, and special bridges
observed and to get action
business units.
Fatality rate 24% 7.72 10.19 5.06 - Introducing the concept of maintaining minimum
Additionally, we conduct in-depth training on
two protection layers, while working at height;
Fatality 39% 25 41 22 behaviour-based safety programmes. These programs
monthly life saver programmemes
are automated by various technology platforms.
- Management Review Meetings (monthly/quarterly);
drive safety leadership through measurable actions; We even conduct cross-functional safety audits, along
Strong Safety Management Systems Leveraging digital to bolster safety implementation of risk control before work with train-the-trainer programmes. The objective is to
L&T Safety Management Systems are accredited measures commencement. progressively ramp up site-based safety capabilities.
to the international standard ISO 45001: 2018 The COVID-19 pandemic posed significant We firmly believe in recognising the efforts of
(Health and Safety Management Systems). Each
businesses operating within the L&T Group manages
challenges. This sharpened our focus on the use Auditing Safety Management System individuals for their contribution to safety across
digital innovation. The use of Artificial Intelligence projects. Every businesses actively recognises this
its operations to this safety standard. In addition, (AI) will be developed and used more as AI solutions At L&T, we undertake auditing of the safety through various award schemes.
some of our operations such as Oil & Gas and were used to detect and prevent unsafe acts and management systems applied in all the businesses
Maritime operate under specific standards and conditions. We plan to increase the use of 3D models and projects through accredited external and internal
accreditation applicable to those industries. L&T to more construction sites such as scaffold erection lead auditors. This is to maintain safety standards
safety management systems across our business and dismantling and introduce more VR modules. In required for the continued accreditation of ISO 45001.
are also supported with internally developed Safe remote places the use of drones has been applied Internally accredited lead auditors ensure that all our
Operating Procedures (SOP) which on agreement to identify safety hazards without the necessity of operations maintain ISO 45001 Standards adopting
are fully endorsed by the L&T EHS Council. Every putting people at risk. and sharing best practices and innovation across our
business, through their Safety Management Systems ICs. Our EHS Council monitors and measures the
(SMS) sets targets and goals to achieve the Zero Our focused efforts on digitalisation allows us to compliance of corporate procedures.
Harm objective. These are closely monitored ensuring move further to the ‘Connected EHS Manager’ and
the “Connected Workman’ as we continue to push Major supply chain contractors and subcontractors
that improvements are made, and best practices and
boundaries and standards in safety to significantly are audited before awarding any contracts to ensure
innovation, particularly in digitalisation, are adopted.
improve our safety performance. that safety standards are maintained throughout
contract duration.
118 GRI Disclosures 102-8, 103-1, 103-2, 103-3, 308-1, 401-2, 402-1, 403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-8, 403-9, 403-10 GRI Disclosures 103-1, 103-2, 103-3, 401-2, 402-1, 403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-8, 403-9, 403-10 119
Human Capital
Safety training RESPONDING TO COVID-19 CHALLENGES

In line with L&T’s progressive safety initiatives - Development and mandating of training matrix for
all employees, including those of contractors. We L&T’s crisis management team responded proactively Apart from putting in place processes to maintain
and innovations, a comprehensive safety training
involve and evolve EHS in all steps from project bid to the pandemic and focused on protecting the lives real-time communication, downward, upward, and
programme has been developed to enhance safety
to award and execution. of teams across projects. The Crisis Management horizontally, we are using AI extensively to monitor
awareness for all employees. During the year, we
Team set clear guidelines and broadcast real-time our projects 24/7 to detect and prevent unsafe
introduced specific and interactive training sessions - Redefine Standard Operating Procedures (SOPs)
information on the necessary action. situations and behaviour.
about COVID-19. Our classroom training modules for all temporary works, including dos and don’ts.
have been converted into online sessions, with Conduct safety surveys regularly and ‘Voice of Procedures were developed and a central monitoring Mobile Safety Apps are ensuring real-time compliance,
internal and external faculty. We introduced Virtual Customer’ workshop for the line management. and reporting structure was put in place. This without the need to have direct interaction with
Reality training modules for our workmen across the - As an industry leader in safer practices, we facilitated quick decision-making. The use of offices. Search engines provide direct access to
board, hastening the process of bringing a new labour have always been proactive in adopting digital digitalisation had an immediate impact on how the doctors and medical facilities through mobiles. In
force up to execution speed. The training includes technologies to craft e-learning modules at projects and the overall business was combating the India, we have witnessed a huge churn in our labour
interactive tests and sessions where a 3D screen and project sites. crisis. force and our digital workmen induction programme
AI provide attendees the opportunity to apply their (WISA) has made the process of on-boarding quicker,
- VR-based training modules
learnings from the interactions. more efficient, and safer.
- Digitalisation also plays a critical role in designing
Programmes safety cards for reporting unsafe acts/conditions,
- L&T has developed an award-winning carded incident investigation, safety inspection, improved
training system called WISA. This initiative is SOPs to reflect evolving work methodologies, EHS
part of the Mission Zero Harm drive in which the suggestion systems, and so on.
workers and subcontractor workers are trained to a
Additionally, we conduct in-depth training through
recognised standard.
behaviour-based safety programmes. These
- The newly formed Edutech allows interactive Programmes are automated by various technology
training of workers and supervisors. Following platforms. We also conduct cross-functional safety
online training they undertake an interactive audits, along with train-the-trainer programmes. The
session which tests their understanding of the objective is to progressively ramp up site-based safety
safety requirements when working for L&T. capabilities.
Safety Training Mock Drill
120 GRI Disclosures 103-1, 103-2, 103-3, 401-2, 402-1, 403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-8, 403-9, 403-10 GRI Disclosures 103-2, 103-3, 401-2, 402-1, 403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-8, 403-9, 403-10 121
Social and Relationship Capital LIVES BENEFITED THROUGH OUR

COMMUNIT Y DEVELOPMENT
PROGR AMMES IN F Y21
1.21 Million
We have a dedicated
CSR team committed to
maximising our social impact.
This team acts under the
guidance and framework
approved by the CSR Board
Committee. They devise,
execute and monitor CSR
programmes in partnership
with NGOs or government
agencies that help drive
societal causes, with the aid
of teams at our campuses KEY MATERIAL ISSUES
and business offices. IMPACTED
- Water management
- Natural resource conservation
- Climate change mitigation
and GHG emissions
- Adoption of renewables
- Occupational Health and Safety
- Local supply base development
SDGs IMPACTED
STRATEGIES IMPACTED
SO3 SO5
SE2 SE5

Social Capital
Input Matrices Output Matrices BUILDING INDIA’S SOCIAL INFRASTRUCTURE

Our aim is to improve the quality of life, mitigate social inequalities, build
CSR SPEND TOTAL CSR BENEFICIARIES
self-sufficiency and help individuals in the identified communities achieve
` 1.5 billion* 1.21 Million their true potential.
CSR PARTNERS WATER AND HEALTH EDUC ATION SKILL

VENDOR / DEALER /SUB-
SANITATION DEVELOPMENT
108 CONTR AC TOR TR AINING (NOS)
110,525 822,967 244,962 35,522
1,049 (people) (people) (people) (people)
NEW SUPPLIERS, CONTR AC TORS
29,407 CONTRIBUTION TO THE

EXCHEQUER
MSME SUPPLIERS ` 108 billion
5,782
*In addition we have also spent 9.88 Cr through our
Hydrocarbon business
DRIVERS OF CSR INTERVENTIONS

L&T helps catalyse the socio-economic development
of communities around its premises and at various Corporate CSR Team Volunteers
locations across the country. This was part of L&T’s
culture, long before the CSR concept was introduced L&T has dedicated CSR teams at the corporate L&T has a structured employee volunteering
through the Companies Act 2013. level, committed to maximising social impact. The programme, L&Teering, which enables and
Corporate CSR team acts under the guidance and encourages employees to participate in community
The Company builds on its ability to understand the framework approved by the CSR Board Committee. development activities. Volunteers invest their
pressing requirements of local and underprivileged They devise, execute and monitor CSR programmes in time in programmes that benefit underprivileged
communities, and provide appropriate technology- partnership with non-profits. communities.
based solutions, thereby accelerating development.
Its interventions are in the areas of water and CSR coordinator and teams at campuses, L&T Public Charitable Trust (LTPCT)
sanitation, health, education and skill development. area offices and sites
LTPCT was established in 2004. The contribution
L&Teering, a structured volunteering programme, Area offices and campus teams perform need- from employees and management grant from
inspires and empowers employee volunteers or assessments, identify local projects and NGO L&T have made the institution sustainable and a
L&Teers to contribute their time to programmes partners, implement and monitor the projects; unique not‑for‑profit entity within the large L&T
supported by the Company, enhancing its providing support. conglomerate. LTPCT has been undertaking projects
social impact. The Prayas Trust which comprises to create a better world for the marginalised. Its
employees’ wives and female employee groups L&T’s Health Centres
mission has been to facilitate visible and sustainable
drive CSR initiatives too, by reaching out to L&T’s multi-speciality health centres, with a team development of society through well directed
distant communities. of professional personnel equipped to provide initiatives in the realms of vocational training, water
The Company’s well-entrenched CSR programme outpatient and tertiary health services, reach out to management, holistic development of children and
focuses on areas that align with the global and the underprivileged communities, making healthcare healthcare. LTPCT benefits from the committed
national development metrics: water & sanitation, accessible and affordable to them. support and in-house expertise of various L&T
health, education and skill-building. The activities companies in the areas of engineering, architecture,
Prayas Trust
are brought under the CSR theme ‘Building India’s construction, IT and medical services to design and
Social Infrastructure’, to bring about an impactful The Prayas Trust originated as the L&T Ladies Club deliver its programmes for the community. In a
and long-lasting social change. more than two decades ago. It is run by the wives of nutshell, LTPCT is an L&T initiative that goes beyond
employees and female employees to provide services to the statutory mandate of corporate responsibility.
the underprivileged sections of society, located around
various L&T facilities. They drive programmes around
the thrust areas identified under the L&T’s CSR theme.
124 GRI Disclosures 102-2, 102-9, 103-1, 103-2, 103-3, 413-1, 203-1, 103-1, 103-2, 103-3, 203-2, GRI Disclosures 203-1, 103-1, 103-2, 103-3, 203-2, 413-1 125
Social Capital
CARING AND REACHING OUT Caring for caregivers Strengthening the healthcare
L&T continues to be on the frontline to help save lives during the pandemic. Some of its critical measures comprise: In Chennai, L&T swung into action to meet the urgent ecosystem
needs of the community. There were many patients, Government’s efforts during the pandemic to prevent
Setting up ICUs for treating Making available basic Educating communities about caretakers, health workers and hospital personnel in the Covid infection and treat the infected were falling
COVID-19 patients, equipping provisions and food to those the prevention and safety hospitals with no access to essentials, especially food. short, with limited overburdened resources. L&T
existing government hospitals in need measures in the project areas To mitigate their food problem, L&T, in association responded to this challenge by supporting health
with ventilators, providing and providing counselling with YRG Care served 43,150 hygienically prepared infrastructure, providing preventive gear and supplies
Personal Protective Equipment and referrals meals (2,500 meals per day for 17 days) across 7 for frontline workers as well as donating treatment,
(PPE) kits, gloves, masks to government public hospitals in Chennai. testing and diagnostic equipment.
health workers
Another 20,000 meals were distributed in association We continued to mitigate the impact of the pandemic
with Feed My Chennai programme to people in in the best way possible while continuing to stay on
distress. our mission.
Extending support Providing food to the hungry INTEGRATED COMMUNITY DEVELOPMENT PROGRAMME
During the lockdown, an L&T initiative ensured food Mumbai Food Project comes to the rescue The Integrated Community Development programme Based on the positive results achieved in the earlier
security to underprivileged children in Mumbai as a (ICDP) of L&T started in 2014-15 to improve the programmes, ICDP is now implemented in four
The local administration set up relief camps and
first pandemic response. availability of water, the very ‘necessity of life’. Under additional contiguous water-stressed locations
food canteens for Daily wage earners and migrant
Under its CSR initiatives, for over 10 years now, L&T labours. Municipal Corporation of Greater Mumbai the programme, five water-stressed locations were in Maharashtra and Tamil Nadu covering 12,545
has been reaching out to children in the slums around (MCGM) approached corporates and non-profits targeted in Rajasthan, Maharashtra and Tamil Nadu households across 13,223 hectares, since FY19.
its Powai and Mahape campuses through balwadis for support. L&T partnered with Pratham Mumbai covering 11,362 households across 22,958 hectares. This will ensure the impact lasts longer over a larger
and after-school study centres. Education Initiative Trust to respond quickly to the When L&T started working in these villages, water geography in a particular region.
pressing need. scarcity was the most intensely-felt need. L&T sensed
These children belong to families that have just one The ICDP starts its activity from need assessment
that this could turn into an opportunity to organise
daily wage earning member. On March 30, 2021 entrepreneurs, corporate leaders of the location and follows a systematic community
the community to work around a common cause
and others together launched an initiative named the organisation strategies. These include mobilising
Thus, L&T’s primary concern during the lockdown In the last five years water sufficiency was achieved people around the problem, creating rural
Mumbai Food Project.
was to ensure that these children should at least have not only for drinking but also for sanitation and development and monitoring committees, creating
food security. In collaboration with an NGO partner Temporary food camps and distribution zones agriculture in the programmes initiated in 2014-15. awareness about saving water, building civil
Save The Children India (STCI), it undertook relief were set up across Mumbai, serving nearly 8,000 Today, all the project areas have access to drinking infrastructure to help water and soil conservation,
work to aid these children and their families, as well packaged meals and kits of essential items in water and sanitation, as well as water to cultivate ensuring its maintenance by the community, providing
as other vulnerable families, all residing across Powai a day. The drive was carried out through NGO fodder for livestock and extra crops. sanitation facilities with people’s contribution and
and Turbhe. Pratham’s well‑established network and community building the capabilities of local people to use the
programmemes, with the much-needed support These projects are now on their way to becoming
Ration kits containing essential food items were resources judiciously.
from MCGM. self-sustainable, continuing the processes developed
provided to 1,400+ beneficiaries. Sanitation kits by the project.
containing bathing and washing soap, toothpaste,
hair oil and sanitary pads were also distributed among
these families.
Additionally, cooked meals were given to 8,000
families. The drive was carried out with utmost care
and by adhering to Covid-appropriate behaviour.
L&T reached out to 12 states

in India and spent ` 36 Crore
for Covid relief in FY21.
Social Capital
INFRASTRUCTURE
The CSR team shaped the water intervention Sanitation drives Capacity-building Institution building and sustainability
to make it a community-led process. Priorities
L&T’s ongoing initiatives in the area of sanitation in The communities concerned were trained to Along with water security initiatives, the community
were chalked out to make drinking water
villages was boosted by the Government’s Swachh facilitate optimum, equitable and efficient water was made aware of the importance and methods of
available first, leading to sanitation and
Bharat Abhiyan programme. The community-led use and implement other agricultural methods and water conservation. Community groups were created
agriculture. As a part of the intervention,
total sanitation approach for ensuring behavioural technology to increase their yield. Farmers were such as Village Development Committees (VDCs) with
structures such as check dams, anicuts,
change on a large scale was adopted by the project. trained in agricultural practices that required minimum 50% participation from women, farmers’ groups and
contour trenches, farm bunds and farm
The project spread awareness on sanitary practices water use, use of zero-budget natural fertilisers Self-Help Groups (SHGs). The VDCs, farmer groups
ponds were constructed with community
among communities, while making toilets and water and preparing low-cost organic manure to retain and SHGs assumed the responsibility of maintain the
participation. These structures, along with
available to them. The project, with contributions land fertility. A large number of farmers realising its structures created through the project.
other sustainable agricultural practices,
from the community and ‘Shram Daan’ (volunteering), cost-effectiveness have started using this manure
helped increase the water level in the water A sustainability index indicating the maturity and
constructed well-designed 4,216 household and preparation. The community members also devised
bodies, and retain soil moisture. readiness of the local committees to sustain project
58 school toilets with bathing facilities using methods that improved arability.
efforts was computed and the groups were further
locally sourced material and labour by the end of
Water distribution system FY21. Community monitoring committees were
Indigenous knowledge on managing livestock was provided inputs to strengthen their solidarity.
revived, and young men and women were trained in
One of the major objectives of the project formed to ensure villages become and stay free from The impact of the ICDP projects which were
ethno-veterinary care. Women’s groups were given
is to provide 100% drinking water security open defecation. completed last year have been sustained and are
training in the retention of the nutritional value
to all beneficiary families. For this purpose, visible this year by either same/increased level of
The community sanitation programme was also of food in traditional millets recipes and growing
after ensuring the availability of water, water in the wells, area of arable land and irrigated
extended to schools where children were made aware vegetables in kitchen gardens.
water distribution schemes are introduced land and same/decreased percentage of fallow land
of the use and importance of the toilets and then
in six villages in Rajasthan. This ensures Once water was available, various agro-based which is shown in the following graphs.
became the torch bearers by spreading awareness
that households from these villages are livelihood options were made available to the
through rallies and cultural programmes.
provided with adequate piped water supply community, such as horticulture, dairy management,
within or nearby the household premises to goatery, poultry and so on.
relieve women and girls from the drudgery
of fetching water. This will give them more
Families having access to water Families having access
time for education and also to indulge in
to water for toilets
leisure activities. 54% to 100%
2014-2020 33% to 98%
2014-2020
Long walk to a better life
Women from the project area Bhim
Various agro-
would wake up at 4 a.m. to walk two based livelihood
to five kilometres to collect water from options such
community wells or hand pumps. They as goatery
walked five times a day in the scorching
heat, carrying heavy pots balanced
and poultry
on their heads. Now with 18 water were made
distribution schemes and 70+ hand available to the
pumps, the women of 3,315 families are community.
relieved of their duties of fetching water
from far away. Now they can spend the
extra time with their families or engage in
livelihood activities.
Social Capital
Water brings rural prosperity
The villages of Pappampatti, Kalangal,
Depth of water from
Appanaickenpatti pudur and Peedampalli in
land surface
Coimbatore, Tamil Nadu suffered from severe water
Mts
scarcity, impacting every aspect of village life. Most
of the villagers were dependent on agriculture and
farming as their only means of income. With acute
water scarcity, many farmers completely abandoned
366
farming and searched for other means of livelihood

305
304.8
for sustenance. Many were able to grow only fodder

268.33
262
crops on smaller patches of land, while the better part

239
232
204 of the land was left fallow due to the water scarcity.
Dryness in the farms, impacting the yield per acre,
lead to financial losses. Those who had borewells
30
29
28
29
6.9
6.5
5.5
4.5
4.2
6
could not get water even at a depth of 1,000 ft,
6
L&T supported the construction of water and
PATHARDI CHETTIPALAYAM PAPAAMPATTI KUMBALGARH BHIM further increasing the expenses for farmers. Based soil conservation structures such as field bund,
Baseline Target FY2020 FY2021 on the participatory analysis and detailed project farm ponds, check dams, channel formation and
report, natural resource management strategies were percolation ponds. The adoption of techniques such
implemented to improve the ground water level in the as bore well recharge, chisel and disc plough helped
watershed area. water body rejuvenation and soil conservation.
Increase in irrigated Village Development Committees (VDCs) were The various NRM interventions to harvest water
area formed in each village to garner the active and channelise surface run off, as well as proper
Ha participation of the people in the project activities. management of water resources led to significant
VDCs conducted regular meetings to understand increase in the water holding capacity.
the nature and quantum of the work to be
completed, select beneficiaries based on well-defined In FY21, the rainfall in
criteria, take stock of impact achieved through
893
Pappampatti watershed was 81,

812
interventions and resolve any issues impeding project

which translates to an average
673
implementation. They also acted as intermediaries

between people and public institutions such as Gram of 650 mm. The water bodies
452.6
Panchayat, Block Development Offices, and ensured created under the project can
392.2
366
350.4
seamless implementation of the project.

20.83
277.4
store 1,322.67 Lakh litres of water.

89
89
87
75
70
65
60
53
35
20
12
Data from observatory wells showed in the graph

PATHARDI
Baseline Target
CHETTIPALAYAM
FY2020 FY2021
PAPAAMPATTI KUMBALGARH BHIM
~25-50% clearly indicates a sharp increase in average
water level up to 215 feet compared to the water
Increase in household income of
level in the pre-watershed period. Also, water
Pappampatti watershed area
pumping time considerably increased due to the
increase in the ground water level.
Increase in arable Fallowland brought Water level in

land under cultivation observatory wells
Ha Ha Mts
439
1,769
897
391
805
805
364
1,509
1,476
735
1,416
717
647
260
260
1,000
500
502
502
470
450
425
394.2
700
262
248
105
113
210
277.4
100
80
75
70
65
ANGAMUTHU LAKSHMANAN VENLINGIRI RANGASAMY PALANISAMY
PATHARDI CHETTIPALAYAM PAPAAMPATTI KUMBALGARH BHIM PATHARDI CHETTIPALAYAM PAPAAMPATTI KUMBALGARH BHIM
Target FY2020 FY2021 Target FY2021 2015 2021
Social Capital
Small is big Challenges and opportunities-STEM project

Small but meaningful steps can usher in One of the beneficiaries, Mr. Nana Bhikaji Wagh After the pandemic struck, initially schools Impact of strategies adopted
large community development outcomes. from Khandgaon village of Pathardi clusters had two were apprehensive about remote learning.
L&T’s Integrated Community Development acres on which he regularly cultivated wheat for his It was challenging to bring all the primary Trained 350 EF teachers (100%)
Project (ICDP) at Pathardi, Ahmednagar in own consumption and sale. The wheat crop requires stakeholders, such as the principals, equipped on remote learning strategy
Maharashtra in 2015 was started to help minimum 8-9 times irrigation and Nana was able to teachers and students, onto this new and methodologies Conducted online
improve the overall quality of life of people irrigate the crop only 6-7 times owing to less water in learning platform.
in these communities. his farm well and insufficient rain. It affected the yield
classes for students.
Regular virtual teachers’ training, online
With a specific objective of increasing
of the crop by 5-7 quintals per acre. In FY21, as part
classes by teachers, e-learning, regular HoS 100% of Science and Math curriculum
of ICD Project, a farm pond of size (10ftX10ftX3ft)
water availability for agriculture and
was dug near his well on the farm. After the
(Head of the School Sign-off) meetings, covered through remote learning
hence its production, farm ponds were virtual STEM workshops, and community content and classes.
monsoon, excess run-off water collected pond
constructed for individual farmers through engagement with students were some of
and also recharged his well. The water in the well
the project. Since the project’s conception, the strategies under this project. Content
increased by four meters which was a memorable and
164 farm ponds were constructed in
six villages of Pathardi cluster. Also, 30
satisfying moment for him. The increased water level
sharing on WhatsApp groups along with
Google assessment forms and regular
10,628 6,035
in his farm well remained even after the monsoons (64.2%) students (56.8%) students
micro irrigation units were distributed to communication with all the stakeholders
because of which he could irrigate his wheat crop participated in the were able to perform
demonstrate increased efficiency of water were held to align to the different needs of
10 times this year. And the result was even more remote learning STEM activities
utilisation. each learner.
satisfying as he could produce 15 quintals per acre programme
this year. However, the sudden transition to online
110,525 He also took advantage of micro irrigation to

efficiently utilise the increased water level. Nana
schooling came with its challenges --
unavailability of the required materials for 4,884 10,628
Lives touched through our water and STEM experiments at home, absence and (29.5%) students who (100%) parents
claimed that he was able to save 40% of his water
sanitation initiatives in FY21 the limited access to smartphones, lack of do not have access gave feedback on
intake for his wheat crop. There are many farmers
mobile network/data plans and network to smartphones remote learning
like Nana Wagh who could increase their agricultural
issues. The project team conducted home were reached out to experience and
production with enhanced irrigation potential. Thus,
visits and distributed worksheets to those through community encouraged children
the small contribution in constructing a farm pond has
who could not connect virtually and visits and worksheets to participate in
resulted in increasing the meagre incomes of farmers
guided them regularly. the project
of this cluster and demonstrated a successful and
sustainable model of farmer empowerment.
Anita, Math Teacher from Government High School Student remote learning
Drip Irrigation at ICDP at Pathardi, Ahmednagar Karambakkam
Social Capital
HEALTH CASE STUDY
L&T organises health and welfare activities for the

underprivileged across its establishments in India.
L&T at Mumbai Anti-Retroviral Therapy (ART) centre
conducts HIV/AIDS awareness camps, provides Chalking out an
The company brings good quality healthcare to the
patients in urban and remote areas, in the form of
medical support along with therapy, counselling
and testing. Comprehensive TB related treatment
effective diet plan
permanent health centres or health camps which is provided in Mumbai including individualised
Samitha, a 2 year old child and her mother
provide free medical care. The Company set up its treatment OPD, check-up, diagnostics, medicines and
residing at village Lighthousekuppam visited the
first health centre at Andheri in Mumbai in 1967. nutrition support, home visits and counselling.
general medical camp organised by community
L&T has 12 community health centres operational
Subsidised dialysis services are provided at the L&T-run health centre, Katupalli.
currently at Ahmednagar, Chennai, Kattupalli,
kidney dialysis centre at Thane.
Coimbatore, Kansbahal, Thane, Lonavala, Surat, Samitha’s mother complained that her child
Vadodara; along with three in Mumbai. In addition, Cancer detection camps are targeted at women. L&T was quite inactive despite being fed well. The
L&T also set up artificial kidney dialysis clinics for the promotes preventive education and early diagnosis counselor at the camp discussed the nutrition
underprivileged at six health centres in Mumbai, of cervical and breast cancer through cancer and food patterns to be followed. With regular
Thane, Titwala, Vadodara, Surat and Chennai. detection camps. follow-up from the centre, Samitha’s mother has
included fruits and vegetables in her child’s diet
The health centre in Mumbai provides infertility
regularly. She made sure to give six small meals
services free-of-cost for the underprivileged
Two mobile health vans cover marginalised and avoided junk food. Now Samitha is more
communities, who find these treatments prohibitively
communities in and around Mumbai including active and healthier than before. Her mother also
expensive. The Company also has a well-equipped
Mumbai slums and tribal blocks near Thane and attended a Pediatric camp held near her village
child guidance clinic in Mumbai, which offers this
Ahmednagar. Specialised health camps cover eye and was happy to receive the services at her
unique service, in addition to parent counselling.
care, anaemia diagnosis and treatment, basic and neighborhood especially during the pandemic.
Samitha with her Mother
rubella vaccination drives, skin ailments, geriatric care,
dental, paediatric and gynaecological care. Specialised
health promotion program are conducted with
focus on hygiene, reproductive health and family life CASE STUDY
education for children and adolescents in Government
remand and corrective homes and homes for
neglected children. Proper healthcare
for all
Kunj Patel, 20, from Savli village in Vadodara,
is the only son and his father is a farmer and
mother a homemaker. Kunj was born with
congenital kidney dysplasia (one kidney).
However, he was leading a normal life till the age
of 9 years. Then he developed facial and pedal
oedema for which he was admitted in Kidney
Disease and Research Centre, Civil Hospital,
Ahmedabad. He was diagnosed with CKD stage
- 5 and advised peritoneal dialysis. After seven
years, peritoneal dialysis failed and he was put
on haemodialysis. He was put on Double Lumen
Catheter (DLC) in jugular vein in civil hospital and
822,967 haemodialysis was started twice a week.
Individuals were provided After taking admission at LTHDC, Vadodara,
better access to information there has been a marked improvement in Kunj
and healthcare facilities in and he is leading a completely normal life. It
FY21 saved him physical discomfort of travelling to
Ahmedabad for treatment and helped the family
to save travel expenses.
L&T Health and Dialysis Center, Vadodara
Social Capital
SKILL DEVELOPMENT CASE STUDY CASE STUDY
Skill development has always been a key area of

interest for L&T. In its endeavour to achieve inclusive Upskilling people and Imparting critical training
growth, it provides vocational training courses and
other skill building activities to provide uneducated creating livelihoods and improving lives
youth with job-earning skills. L&T’s Construction Skills
Training Institutes (CSTIs) provide free-of-cost training Shaik Yaseen from Prakasham district in Andhra Mr. B Vijay, 22, belonging to a farmer’s family, During the lockdown period CSTI,
in trades like bar-bending, formwork carpentry, Pradesh completed his ITI Civil from Markapuram trainee from electrical trade hails from a small Kancheepuram wanted to extend support to
masonry, scaffolding, welding and electrical wiring, to Government ITI in 2019 and was trying for a job village, Pavattakudi in Thiruvallur District of Tamil those underprivileged candidates or aspirants
rural and urban youth. in the construction industry. Due to inexperience, Nadu, he has two younger siblings, both pursuing who needed job. CSTI started providing
he was unable to find the same. His father Shaik college in the proximity of their native town. online training in different skills by recruiting
With an emphasis on technology and innovation, new Ismail who runs a small cycle repair shop was candidates through online sourcing. Vijay got
technology-based skill-training courses have been To support the family income after completing
out of work from March 2020 onwards due to selected and completed online training and
introduced - Solar PV Technician skills, OFC and CCTV higher secondary, he joined as a helper electrician
lockdown restrictions. Yaseen heard about CSTI later enrolled at CSTI Kanchipuram.
Installation and Maintenance. and later became full time electrician with a local
Attibele’s Masonry training programme and
electrical contractor. With his earnings, he was During his stay at CSTI, he was part of
Integral elements of all the skill-training deliverables support to get initial job placement, from one
unable to manage day-to-day family expenses. Green team who managed the entire
are digital training, digital study material, micro- of his friends. He contacted the institute and
He realised that without any formal training or campus maintenance activity. “I have gained
learning modules on mobile apps, augmented reality decided to take up training in Masonry.
qualification, he may not be able to move up professional experience in L&T CSTI that helped
and virtual reality training, safety, quality standards During that time, CSTI was offering 9 weeks the ladder even though he had gained good me to secure a steady job.” says Vijay.
and soft skills training. Periodic online assessment is on campus and 3 weeks online training for hands on experience; so he decided to join ITI in
undertaken for all the courses. Today Vijay supports his family and is a role
masonry students. He got enrolled in the course electrical trade and learnt the basics. However, his
model for many aspirants.
Training programmemes are conducted at nine CSTIs and acquired the construction skills related ultimate aim was to get a placement in a reputed
operational at Kancheepuram and Pulicat in Tamil to masonry and bar bending. He was given organisation. Though he was able to secure a
Nadu, Panvel in Maharashtra, Pilkhuwa in Delhi, opportunity to have one week of on-the-job placement offer, the nation-wide lockdown
Jadcherla in Telangana, Cuttack in Odisha, Attibelle in training at Anekal Steel Service Centre. During following the pandemic shattered his dreams.
Karnataka, Chacharwadi in Gujarat and Serampore in this training the site manager was impressed with
West Bengal. his execution skills and offered him a job at his
site to operate the special purpose numerically
Industry-oriented training controlled bar bending machine.
L&T has collaborated with 27 Industrial Training
Institutes (ITIs) across the country to impart industry-
oriented training.
Empowering the differently-abled
L&T’s ‘Project Neev’ initiative enriches the lives
of the differently-abled by offering specially-
designed training programmes that enable them
to obtain gainful employment and become
financially independent.
Vocational training for women
L&T introduced vocational training programmes
in the areas of tailoring, beautician skills, home-
nursing and food processing for women from
underprivileged communities.
35,522 rural and urban youth, along with women
and differently-abled persons from underprivileged
communities, are being imparted skills that will
improve their employability
17,365
Completed various courses
at the CSTIs Trainees learning Bar bending skill at CSTI, Serampore Electrical skills training at CSTI
Social Capital
Employee volunteers help underprivileged children to excel in STEM (Science, Technology, Engineering & Maths) Volunteering for reading a story to a student in Volunteers assessing STEM models submitted by students in Chennai
Rural Gujarat
L&TEERING: EMPLOYEE VOLUNTEERING INITIATIVE
L&T has a growing army of However, L&Teers, with the support of CSR teams Health Benefits of volunteering: Volunteers learn new skills
across locations, played a crucial role to get and capabilities while volunteering. These included
employee volunteers or L&Teers connected through virtual platforms from across Volunteers conducted blood donation camps to hard skills, such as planning and organisational
who support the Company’s geographical locations to reach out to the needy maintain blood supply especially during COVID skills, managing people, resources and time, project
CSR activities though its and underprivileged, refusing to be beaten by the emergencies. Volunteers also organised health camps. management and fund-raising, along with soft skills,
organised employee volunteering pandemic. Maintaining, and in fact surpassing the
Environment
such as leadership, communications, networking,
existing momentum was possible by conducting influencing and motivating others, problem resolution
programme. They partake online sessions through WhatsApp/Zoom/other and teamwork. With the community intervention,
L&Teers also contribute to keeping our surroundings
in initiatives like teaching at networks, storytelling over phone, recording books, safe and clean by conducting tree plantation and volunteers learned practical skills such as painting,
community schools and writing donating time and other aids like food/ration to cleanliness drives. Despite the pandemic induced horticulture, and teaching and looking after children.
examination papers for the visually migrants, phone and study materials to students. movement restrictions, environment clean-up drives Volunteering contributes to their ideas or plans
for future studies or careers. Volunteers also help
challenged. L&Teers are passionate, Education
were conducted successfully.
the community by providing resources, to develop
sensitive to social causes, and The volunteers also conducted awareness sessions autonomously and build a strong society.
Volunteers assisted students with their academics by
committed to community conducting online lectures and helped tribal and other
on various topics like road safety and the right to
education.
development. vulnerable kids with the English language. Recording
stories and audio books for the visually impaired To maintain the positive spirit of social organisations,
L&T has a history of inspiring and assisting continued as a usual activity. Volunteers prepared L&T conducted their annual events like Daan Utsav,
volunteering programme that includes community study materials for underprivileged students they NGO or Diwali Mela virtually where different NGO
development initiatives. L&Teers also spread their mentored/guided students. During the pandemic, the partners’ programmes and products were shared
wings to other areas like visiting orphanage and classes were conducted online. with the employees through internal networks and
old age centres, reaching out to kids with special connecting them with the organisations. Even in
Volunteers participated in activities like conducting these tough times, L&T did its bit to stand by NGO
needs, joining the relief camps in affected areas,
mock interviews for youth; though this was an activity partners and shared its good fortune with those who
planting trees, organising fundraising activities and
conducted earlier as well, but shifting to an online need it most.
volunteering with selected NGOs.
mode was initially difficult for the aspirants as well as
In FY21, regular volunteering programmes were the volunteers. Every year CSR team conducts a felicitation event to
adversely impacted as the pandemic and the appreciate and motivate employee volunteers who
ensuing lockdown brought restrictions on reaching selflessly devoted their personal time and efforts for
out physically for volunteering opportunities. the benefit of the underprivileged, through L&T’s
Regular activities such as teaching children in slums, CSR projects.
volunteering at institutions for children, came to a
halt.
In FY21, almost 4,400 employee
volunteers contributed 27,763
hours and reached over 11,700
beneficiaries
Relationships play a very important We have always laid emphasis on building

enduring bonds of trust with our stakeholders.
Shareholders and investors
role in business. Being able to These include customers, shareholders, We follow a policy of engaging with all stakeholders regularly and keep them informed of evolving
trust and rely on one another is employees, bankers, business partners, Central developments in the organisation. Our objective is to gain insights into their perspectives, get clarity on ‘pain
critical, as is staying visible as a and State Governments and the communities points’ and craft the way forward collaboratively. Their faith in our abilities and constant support enables us to
we interact with. We believe that enduring tailor our policies in alignment with our market value creation objectives.
leader to all community partners relationships with all stakeholders provide us
and stakeholders. Ramping up insights which help us review and progressively
` 1,467.47 billion
Our institutional investors include:
digital communication significantly refine our strategies to create long-term value
Institutional investors Holding %
and being more nimble in the for all. Value distributed in FY21
way we work have enabled us to We have always conducted our business in Life Insurance Corporation of India 13.7
maintain momentum. a fair, transparent and ethical manner, and
HDFC Mutual Fund 2.9
our engagement with stakeholders is tailored
around a multi-pronged approach.
GIC Singapore 2.4
Strategic Objectives
GIC India 1.8
SO3 SE2 SE5 NPS Trust (India) 1.7
Fidelity Investments 1.7
ICICI Prudential Mutual Fund 1.5
SBI Mutual Fund 1.3
ICICI Prudential Life Insurance 1.3
SBI Life Insurance 1.1
Kotak Mutual Fund 1.1
Franklin Templeton Mutual Fund 1.0
140 GRI Disclosures 203-1, 203-2, 103-1, 103-2, 103-3 GRI Disclosures 203-1, 203-2, 103-1, 103-2, 103-3 141
Government
We work closely with the Government of India as well as local
Customers Suppliers and contractors governments during the regular course of our operations. We abide by
the laws of the land and believe compliance is absolutely non-negotiable.
Our constant endeavour is to provide our customers At L&T, our focus is on maintaining and enhancing our We stay updated on changes in laws and policy initiatives. With several
with a superior experience at every stage of their relationships with suppliers, contractors and service international associations, we participate in national and international
association with us. Innovation – across products,
projects, processes and customer servicing – enables
providers to drive mutual growth. These include raw
material vendors, machine suppliers and contract
policy formulation and economic forums. ` 108 billion
We also participate in several government schemes to help enhance the Contribution to the exchequer
us to create value that can set a benchmark for workers. We engage with them regularly through
lives of the communities we work with. in FY21
the industry to emulate. We enjoy long-lasting, partner meets.
time‑tested relationships with our customers across all
We have established an e-procurement model for Major government programmes we are associated with
our businesses.
paperless buying and an e-tendering system is used for
We engage with our customers regularly information flow and reverse auctioning.
Swachh Bharat Abhiyan Make in India campaign Digital India campaign
through various modes of communication
We trained more than 9 Lakh vendors, dealers and
to get their feedback and suggestions and Our initiatives 1. Local sourcing of products 1. More than 11,000 equipment
sub‑contractors in FY21.
understand their requirements. The L&T Info 1. Constructed 1,000+ washrooms and services across various project sites
desk-infodesk@Larsentoubro.com-is a source of Our human rights practices forbid child, forced and using local skills and materials 2. Our Defence business are connected to the Asset
information and feedback on the entire spectrum of compulsory labour, and discrimination based on gender, 2. Community-based monitoring collaborates extensively Insight, streaming real-time
our offerings. caste and nationality. In FY20 we have made a separate committees ensured that with the government, thus equipment data
code of conduct for our vendors. Our environmental these villages became open- supporting this initiative
We collect customer feedback on a scale of 1 to 2. Worker Induction and Skills
and Social Code of Conduct includes compliance with defecation free
10 (10 = Excellent, 1 = Poor) quarterly; and this is 3. In FY21, we have Application (WISA) is an
environmental regulations, health and safety, labour
reviewed during the management review meetings. 3. L&T provided adequate Water, sourced materials from end-to-end digital solution
practices, human rights aspects, minimum wages, freedom
Corresponding action plans are formulated to improve Sanitation and Hygiene (WASH) 5,728 MSME suppliers for smooth onboarding of
of association, collective bargaining, prohibition of child
performance in the areas rated below on an average infrastructure for 3,000+ blue-collar workers into
labour, forced and compulsory labour, ethical behaviour,
of 8.0 points. The survey covers various aspects of children and trained them in construction sites. Today
transparency in business processes and environment
customer service such as time schedule, product using toilets and keeping their more than 300,000 workers
conservation. As on March 31, 2021 more than one lakh
quality, housekeeping, safety standards, response to schools clean and hygienic are onboarded in WISA
vendors have signed the Code of Conduct (CoC). Suppliers
client’s requirements, work methods, communication,
are assessed on the basis of their environment and social 3. Embracing Industry 4.0:
work delegation, resource mobilisation
performance during vendor registration and on-boarding. The Internet of Things for
and courteousness.
There were no instances of non-compliance during manufacturing has been
supplier assessments during the year. applied to connect machines,
cranes, welding machines
and other equipment across
9+ Lakh various manufacturing plants
for remote monitoring and
vendors, dealers and sub- maintenance
contractors were trained in
FY21
Interventions during the year include:
National Smart Cities Mission Defence business

The SWC business leverages its technical prowess to 1. Aerospace manufacturing shops for rocket
solve problems through smart, scalable solutions for motors for India’s space launch vehicles at Powai
security, urban services, traffic, transportation, utilities and Coimbatore
and digital connectivity. 2. Strategic Systems Complex for Weapon and
1. Hyderabad City Surveillance and ITMS project Engineering Systems and sensors at Talegaon
2. Vizag Smart City near Pune
3. Prayagraj Smart City
4. Mumbai City Surveillance
5. Raipur Smart City
Civil trackworks
142 GRI Disclosures 102-9, 203-1, 203-2, 103-1, 103-2, 103-3, 204-1, 308-1, 407-1, 414-1, 414-2 GRI Disclosures 203-1, 203-2, 103-1, 103-2, 103-3 143
Financial Capital PAT GROW TH*
21.3%
DOMESTIC ORDER BOOK GROW TH
Our financial capital
helps us create a strong
foundation. We have
13.01%
created a strong balance * Includes profit on discontinued operations net of
exceptional items ` 4,618 Crore
sheet with strong linkages Note: All figures in this chapter are as per the group
consolidated data on pages 55 and 442 of the Annual Report.
to economic growth that
can help India reduce
external dependencies and
enhance self-reliance. We
have judiciously managed
capital structure helping
us effectively counter risks.
Despite the size of our
business, we have been
able to maintain growth.
Our financial prudence has KEY MATERIAL ISSUES
helped us navigate through IMPACTED
the challenging period of construction and EPC services
the pandemic. - Natural resource conservation
- Material sourcing
- Energy efficiency
SDGs IMPACTED
STRATEGIES IMPACTED
S O1 S O2 SO3 SO4 SO5
SE3
144 GRI Disclosures 103-1, 103-2, 103-3 GRI Disclosure 102-45 145
Financial Capital
Inputs Outputs SEGMENTS DRIVING ORDER BOOK IN FY21
ORDER BOOK* TURNOVER **

Domestic International
- Orders related to Infrastructure: High Speed Rail, - Large orders related to substations and
` 3,273.54 billion ` 1,359.79 billion River Bridges, Rail Tunnels, Transmission lines, transmission lines, light rail
Urban power distribution, Rural Water supply, - Order related to mixed-use facilities, bio-fuel
NET CURRENT A SSETS * GROUP PAT ** Water distribution, Cement plants, Residential refinery process equipment
Housing
` 575.56 billion ` 115.83 billion - EPCC orders for refinery projects
- Key equipment supply for Nuclear Power projects
NET FIXED A SSETS * DIVIDEND PAID **
` 448.20 billion ` 50.56 billion

GROSS DEBT-TO -EQUIT Y R ATIO * RETURN ON EQUIT Y **
1.51x 16.25% FINANCIAL HIGHLIGHTS
* As on March 31, 2021 ** For FY21
Order inflows Order book PAT Economic value

` (in billion) ` (in billion) ` (in billion) generated
incl. exceptional items ` (in billion)
Despite the headwinds in FY21, we reported resilient
financial performance. We reported 21.30% growth
1,863.56
3,273.54
115.83
1,536.23
1,522.20
1,754.97
3,038.57
in Profit After Tax at ` 115.83 billion against the
95.49
previous year. During the year, we won fresh orders
worth ` 1,754.97 billion, recording 5.83% de-growth.
The order book stood at a robust ` 3,273.54 billion
and grew by 7.73% over FY20.
During the year, we further strengthened our
presence in Gulf Cooperation Council (GCC) FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21
countries, predominantly in the Infrastructure and
Hydrocarbon sectors. The unexecuted order book
from international markets stood at ` 687.73 billion,
contributing 21.01% to the total order book.
EPS ROCE Sales Composition FY21
The Revenues stood at ` 1,359.79 billion which ` per share % %
declined by 6.5% during FY21. Factors such as 45.2 Infrastructure
execution impediments related to the lockdown in the 2.3 Power
82.49
13.00
12.22
Indian Oil Corporation Limited - Bongaigaon Fluidized last few weeks of March, delayed clearances, right of 2.0 Heavy Engineering
68.04
Catalytic Cracker Unit way constraints and the review of awarded tenders 2.5 Defence Engineering
by a few state governments leading to the stoppage 12.5 Hydrocarbon
of work in the Infrastructure segment led to lower- 18.7 IT & Technology services
than-expected growth in revenue. We continue to 9.9 Financial services
engage with India’s strategic sectors and critical areas 2.7 Developmental projects
of infrastructure development. 4.3 Others
FY20 FY21 FY20 FY21
The Board of Directors recommended a dividend of
` 18 per share. Additionally, a special dividend of
` 18 per share was also issued, totalling up to ` 36
per share.
Financial Capital
ECONOMIC VALUE GENERATED AND DISTRIBUTED EMPLOYEE COST AND BENEFITS
A
Value
Cost towards wages/ Other benefit Total personnel cost
generated salaries (a) costs (b) = (a)+(b)
F Y21 F Y20 ` (in billion) ` (in billion) ` (in billion)
` 1,536.23 billion ` 1,522.20 billion
224.64
22.98
247.62
22.92
231.14
208.22
Value
B
distributed (%)
1.51 1.51
32.32 33.83 32.32 33.77
FY20 FY21 FY20 FY21 FY20 FY21
LIQUIDITY AND CAPITAL RESOURCES

FY21 FY20* ` (in billion)
228.44
0.05 0.08
2.38 2.07
0.29 1.11 0.29 0.56
22.16 23.68
0.62
138.81
0.86
132.57
5.44 5.12
111.18
111.18
66.94
64.60
63.72
59.48
*The financial works of FY20 are revised
Value retained = A - B
(0.02)
(1.51)
-142.04
F Y21 F Y20
-152.74
` 68.76 billion ` 60.12 billion
-193.10
Description FY21 [bn] FY20 [bn]
ADD: NET CASH PROVIDED/(USED) BY
Economic value generated 1,536.23 1,522.20
CASH AND CASH OPERATING INVESTING DIVESTMENT FINANCING DISCONTINUED CASH AND CASH
Manufacturing, construction and operating expenses 1,006.40 1,067.21 EQUIVALENTS AT THE ACTIVITIES ACTIVITIES PROCEEDS ACTIVITIES OPERATIONS EQUIVALENTS AT
BEGINNING OF THE THE END OF THE
Employee wages and benefits 247.40 230.87 PERIOD PERIOD
FY20 FY21
Payments to providers of capital Please refer Annual Report page 526 (note 53) for details of financial assistance from the
government in the reporting year
- Interest 39.13 27.97
- Dividend 50.56 25.27
- Minority Shareholders 13.38 13.45
Payments to exchequer 108.33 93.56
Community investments (CSR spend) 2.27 3.76
Economic Value Distributed 1,467.47 1,462.08
Economic Value Retained 68.76 60.12
Financial Capital
Consolidated Balance Sheet

as at March 31, 2021
` Crore ` Crore
Particulars Note As at 31-03-2021 As at 31-3-2020 Particulars Note As at 31-03-2021 As at 31-3-2020
ASSETS: Liabilities
Non-current assets Non-current liabilities
Property, plant and equipment 2 11,386.29 10,103.79 Financial liabilities
Capital work-in-progress 2 388.37 3,224.91 Borrowings 22 82,120.04 82,331.33
Investment property 3 3,646.78 3,714.72 Lease liability 1,617.72 1,741.60
Goodwill 4 8,066.96 8,011.40 Other financial liabilities 23 186.74 901.14
Other intangible assets 5 19,197.76 19,596.98 83,924.50 84,974.07
Intangible assets under development 5 112.02 86.18 Provisions 24 773.78 708.67
Right-of-use assets 61(b)(iii) 2,021.53 2,226.49 Deferred tax liabilities (net) 51(d) 1,178.66 1,453.04
Financial assets Other non-current liabilities 25 68.70 31.09
Investments in joint ventures and associates 43(e) 2,670.26 2,851.01 Current liabilities
Other investments 6 5,945.14 4,496.72 Financial liabilities
Loans towards financing activities 7 52,631.67 58,589.36 Borrowings 26 27,765.83 35,021.02
Other loans 8 482.66 1,522.33 Current maturities of long term borrowings 27 22,719.39 23,654.77
Other financial assets 9 1,110.77 638.15 Lease liability 406.10 424.95
62,840.50 68,097.57 Trade payables:
Deferred tax assets (net) 51(d) 2,697.00 3,846.58 Due to micro enterprises and small
Other non-current assets 10 5,949.67 6,541.62 enterprises 488.99 479.51
Current assets Due to others 28 45,015.62 43,164.42
Inventories 11 5,820.54 5,746.65 Other financial liabilities 29 5,569.55 4,923.23
Financial assets 101,965.48 107,667.90
Investments 12 31,011.23 12,699.75 Other current liabilities 30 31,269.63 30,816.67
Trade receivables 13 42,229.78 40,731.52 Provisions 31 2,998.68 2,750.85
Cash and cash equivalents 14 13,373.52 11,324.57 Current tax liabilities (net) 1,171.02 1,509.62
Other bank balances 15 2,867.98 3,793.21 Liabilities associated with group(s) of assets classified
as held for sale 45(f) 3.20 1,984.17
Loans towards financing activities 16 41,379.03 41,723.42
TOTAL EQUITY AND LIABILITIES 311,273.71 308,140.13
Other loans 17 648.56 716.00
CONTINGENT LIABILITIES 32
Other financial assets 18 2,838.47 2,927.87
COMMITMENTS (capital and others) 33
134,348.57 113,916.34
NOTES FORMING PART OF THE FINANCIAL
Other current assets 19 54,791.48 58,659.69
STATEMENTS 1 to 64
Group(s) of assets classified as held for sale 45(f) 6.24 4,367.21
Total Assets 311,273.71 308,140.13 In terms of our report attached
EQUITY AND LIABILITIES: For DELOITTE HASKINS & SELLS LLP S. N. SUBRAHMANYAN
Equity Chartered Accountants Chief Executive Officer & Managing Director
Firm’s Registration No.117366W/W-100018 (DIN 02255382)
Equity share capital 20 280.91 280.78 by the hand of
Other equity 21 75,587.62 66,442.44
Equity attributable to owners of the Company 75,868.53 66,723.22 R. SHANKAR RAMAN M. M. CHITALE
Non-controlling interests 12,051.53 9,520.83 Whole-time Director & Chief Financial Officer Independent Director
(DIN 00019798) (DIN 00101004)
SANJIV V. PILGAONKAR SIVARAM NAIR A.

Partner Company Secretary & Compliance Officer
Membership No. 39826 Membership No. FCS3939
Mumbai, May 14, 2021
Note: The notes referred in the above financials are included in the Annual Report. Note: The notes referred in the above financials are included in the Annual Report.
Financial Capital
Consolidated Statement of Profit and Loss

for the year ended March 31, 2021
` Crore ` Crore
Particulars Note 2020-21 2019-20 Particulars Note 2020-21 2019-20
Continuing operations Net profit after tax from discontinued
INCOME: operations 8,237.92 654.57
Revenue from operations 34 135,979.03 145,452.36 Net profit after tax from continuing operations
& discontinued operations 12,921.28 10,894.28
Other income 35 3,429.35 2,360.90
Other comprehensive income
Total income 139,408.38 147,813.26
A Items that will not be reclassified to
EXPENSES:
profit or loss:
Manufacturing, construction and operating 36
Equity instruments through Other
expenses:
comprehensive income 55.05 (386.05)
Cost of raw materials, components consumed 15,571.40 15,548.66
Income tax (expenses)/income on equity - -
Construction materials consumed 24,558.23 30,316.12 instruments through Other comprehensive
Purchase of stock-in-trade 1,213.58 841.09 income
Stores, spares and tools consumed 2,023.54 2,184.46 55.05 (386.05)
Sub-contracting charges 22,316.18 26,454.05 Gain/(loss) on remeasurements of the net
Changes in inventories of finished goods, defined benefit plans 57.40 (205.94)
work-in-progress, stock-in-trade and property Income tax (expenses)/income on
development 343.37 647.70 remeasurements of the net defined benefit
Other manufacturing, construction and plans (13.69) 50.60
operating expenses 12,983.56 13,328.71 43.71 (155.34)
Finance cost of financial services business and Share in Other comprehensive income of joint
finance lease activity 7,691.04 8,041.88 ventures/associates (net) (51.76) 27.75
86,700.90 97,362.67 B
Items that will be reclassified to profit
Employee benefits expense 37 24,762.03 23,114.00 or loss:
Sales, administration and other expenses 38 8,892.00 8,646.71 Debt instruments through Other
Finance costs 39 3,913.44 2,796.66 comprehensive income 123.69 115.22
Depreciation, amortisation, impairment and 2,904.21 2,462.27 Income tax (expenses)/income on debt
obsolescence instruments through Other comprehensive
income (31.14) (19.46)
Total expenses 127,172.58 134,382.31
92.55 95.76
Profit before exceptional items and tax 12,235.80 13,430.95
Exchange differences in translating the financial
Tax expense: 51(a)
statements of foreign operations 99.70 43.60
Current tax 3,923.39 3,564.58
Income tax (expenses)/income on exchange
Deferred tax (net) 87.43 (301.38) differences in translating the financial
4,010.82 3,263.20 statements of foreign operations (4.42) 4.45
Net profit after tax (before exceptional 95.28 48.05
items) from continuing operations 8,224.98 10,167.75 Effective portion of gains/(losses) on hedging
Exceptional items before tax (3,693.78) - instruments in a cash flow hedge 1,717.14 (1,281.83)
Tax expense on exceptional items: 51(a) Income tax (expenses)/income on effective
Current tax 48.44 - portion of gains/(losses) on hedging
Deferred tax (186.20) - instruments in a cash flow hedge (479.18) 334.42
(137.76) - 1,237.96 (947.41)
Exceptional items (net of tax) 48 (3,556.02) - Cost of hedging reserve 11.12 (29.18)
Net profit after tax from continuing operations 4,668.96 10,167.75 Income tax (expenses)/income on cost of
hedging reserve (2.98) 8.14
Share in profit/(loss) after tax of joint ventures/
associates (net) 43(f) 14.40 71.96 8.14 (21.04)
Profit for the year from continuing operations 4,683.36 10,239.71 Share in Other comprehensive income of joint
ventures/associates (net) (26.56) 23.62
Discontinued operations
Other comprehensive income for the year
Profit before tax from discontinued operations 45(a) 10,790.50 883.25
(net of tax) 1,454.37 (1,314.66)
Tax expense of discontinued operations 51(a) 2,552.58 228.68
Total comprehensive income for the year 14,375.65 9,579.62
Financial Capital
Consolidated Statement of Profit and Loss Consolidated Statement of Cash Flows

for the year ended March 31, 2021 for the year ended March 31, 2021
` Crore ` Crore
Particulars Note 2020-21 2019-20 Particulars 2020-21 2019-20
Profit for the year attributable to: A. Cash flow from operating activities:
Owners of the Company 11,582.93 9,549.03
Profit before tax (excluding exceptional items) from:
Non-controlling interests 1,338.35 1,345.25

Continuing operations 12,235.80 13,430.95
12,921.28 10,894.28
Other comprehensive income for the year attributable
Discontinued operations 10,790.50 883.25
to: Profit before tax including discontinued operations (excluding exceptional items) 23,026.30 14,314.20
Owners of the Company 1,129.49 (1,032.83)

Adjustments for:
Non-controlling interests 324.88 (281.83)

Dividend received (28.47) (101.60)
1,454.37 (1,314.66)
Total comprehensive income for the year attributable
Depreciation, amortisation, impairment and obsolescence 2,904.21 2,462.27
to:
Exchange difference on items grouped under financing/investing activities (75.47) 5.69
Owners of the Company 12,712.42 8,516.20

Effect of exchange rate changes on cash and cash equivalents 74.98 (88.14)
Non-controlling interests 1,663.23 1,063.42
14,375.65 9,579.62
Unrealised (gain)/loss on finance leases (14.55) -
Earnings per share (EPS) of ` 2 each from
Finance costs 3,913.44 2,796.66
continuing operations:
Interest income (1,377.66) (829.78)
Basic earnings per equity share (`) 55 23.82 63.38

(Profit)/loss on sale of fixed assets (net) (528.81) 33.28
Diluted earnings per equity share (`) 55 23.80 63.29
(Profit)/loss on sale/fair valuation of investments (net) (1,118.77) (733.84)
discontinued operations:
(Gain)/loss on disposal of discontinued operations (10,707.92) -
(Gain)/loss on derivatives at fair value through profit or loss - (13.19)

Employee stock option-discount forming part of employee benefits expense 137.67 190.84
continuing operations & discontinued
Non-cash items related to discontinued operations 3.13 49.44
operations:
Business combination expenses - 84.28

Impairment of debt instruments 151.26 350.59
Face value per equity share (`) 2.00 2.00
Impairment recognised on non-current assets held for sale 0.23 3.93
NOTES FORMING PART OF THE FINANCIAL
(Gain)/loss on de-recognition of lease liability/right-of-use assets (15.78) (1.85)
STATEMENTS 1 to 64

Interest expenses/(income) related to discontinued operations 1.16 1.33
Operating profit before working capital changes 16,344.95 18,524.11
In terms of our report attached
For DELOITTE HASKINS & SELLS LLP S. N. SUBRAHMANYAN
Adjustments for :
Chartered Accountants Chief Executive Officer & Managing Director
(Increase)/decrease in trade and other receivables 2,783.81 (11,278.12)
Firm’s Registration No.117366W/W-100018 (DIN 02255382)
by the hand of
(Increase)/decrease in inventories 348.90 353.19

Increase/(decrease) in trade payables and customer advances 2,219.78 3,134.23
R. SHANKAR RAMAN M. M. CHITALE
Whole-time Director & Chief Financial Officer Independent Director Cash generated from operations before financing activities 21,697.44 10,733.41
(DIN 00019798) (DIN 00101004)
(Increase)/decrease in loans and advances towards financing activities 4,617.71 6.92

Cash generated from operations 26,315.15 10,740.33
Direct taxes refund/(paid) [net] (3,471.01) (4,046.45)
Membership No. 39826 Membership No. FCS3939
Net cash (used in)/from operating activities 22,844.14 6,693.88
Financial Capital
Consolidated Statement of Cash Flows

for the year ended March 31, 2021
` Crore ` Crore
Particulars 2020-21 2019-20 Particulars 2020-21 2019-20
B. Cash flow from investing activities: Notes:

Purchase of fixed assets (1,807.70) (3,436.82) 1.
Statement of Cash Flows has been prepared under the indirect method as set out in the Indian Accounting Standard

Sale of fixed assets (including advance received) 885.36 137.39 (Ind AS) 7 “Statement of Cash Flows” prescribed in the Companies (Indian Accounting Standards) Rules, 2015.

Purchase of non-current investments (1,873.24) (1,870.64) 2.
Fixed assets include property, plant and equipment, investment property and intangible assets adjusted for movement of

Sale of non-current investments 240.19 2,245.29 (a) capital work-in-progress for property, plant and equipment and investment property and (b) Intangible assets under

(Purchase)/sale of current investments (net) (16,841.55) 2,065.74 development during the year.

Change in other bank balance and cash not available for immediate use 915.13 1,439.82 3.
Cash and cash equivalents included in the Statement of Cash flows comprise the following:

Deposits/loans given to associates, joint ventures and third parties (151.59) (115.21)
(a) Cash and cash equivalents disclosed under current assets [Note 14] 13,373.52 11,324.57

Deposits/loans repaid by associates, joint ventures and third parties - 17.69
(b) Other bank balances disclosed under current assets [Note 15] 2,867.98 3,793.21

Interest received 1,275.45 837.54
(c) Cash and bank balances disclosed under non-current assets [Note 9] 283.91 273.82

Dividend received from joint ventures/associates 175.05 12.53 Total cash and cash equivalents as per Balance Sheet 16,525.41 15,391.60

Dividend received on other investments 28.47 101.60
Add: (i) Unrealised exchange (gain)/loss on cash and cash equivalents

Settlement of derivative contracts related to current investments - 13.19 (reflected in Statement of Profit and loss) (41.41) (116.39)

Consideration received on disposal of subsidiaries (including advance received) 295.78 - Add: (ii) Unrealised exchange (gain)/loss on cash and cash equivalents

Net proceeds from transfer of discontinued operations (net of tax) 11,530.82 - (reflected in Other comprehensive income) (75.10) (90.23)

Consideration received on disposal of joint venture - 43.16 Less: (iii) Other bank balances disclosed under current assets [Note 15] 2,867.98 3,793.21

Consideration paid on acquisition of subsidiaries (121.77) (9,895.93) Less: (iv) Cash and bank balances disclosed under non-current assets [Note 9] 283.91 273.82

Cash and cash equivalents acquired pursuant to acquisition of subsidiaries 7.07 210.72
Total cash and cash equivalents as per Statement of Cash Flows 13,257.01 11,117.95

Cash and cash equivalents (of subsidiaries) classified as held for sale (other than discontinued 13.69 (14.34)
4. Previous year’s figures have been regrouped/reclassified wherever applicable.
operations)/reclassified from held for sale

Consideration paid on acquisition of additional stake in a joint venture - (48.00) In terms of our report attached
Net cash (used in)/from investing activities (5,428.84) (8,256.27) For DELOITTE HASKINS & SELLS LLP S. N. SUBRAHMANYAN
Chartered Accountants Chief Executive Officer & Managing Director
C. Cash flow from financing activities: Firm’s Registration No.117366W/W-100018 (DIN 02255382)

Proceeds from issue of share capital (including share application money) [net] 15.85 17.56 by the hand of

Proceeds from non-current borrowings [Note 50] 35,737.52 42,587.43
R. SHANKAR RAMAN M. M. CHITALE

Repayment of non-current borrowings [Note 50] (38,318.78) (33,685.03) Whole-time Director & Chief Financial Officer Independent Director

Proceeds from/(repayment of) other borrowings (net) [Note 50] (6,151.20) 4,915.20 (DIN 00019798) (DIN 00101004)

Payment (to)/from non-controlling interest (net) - including sale proceeds on divestment of 796.02 (60.05)
part stake in subsidiary companies

Settlement of derivative contracts related to borrowings 66.73 308.29 Membership No. 39826 Membership No. FCS3939

Dividends paid (3,650.89) (3,929.61)

Additional tax on dividend - (621.72)

Repayment of lease liability [Note 50] (381.64) (258.03)

Interest paid on lease liability (203.57) (162.79)

Interest paid (including cash flows on account of interest rate swaps) (3,184.42) (2,739.70)
Net cash (used in)/from financing activities (15,274.38) 6,371.55
Net (decrease)/increase in cash and cash equivalents (A + B + C) 2,140.92 4,809.16
Cash and cash equivalents at beginning of the year 11,117.95 6,460.23
Cash and cash equivalents for discontinued operations (classified as held for sale) (1.86) (151.44)
Cash and cash equivalents at end of the year 13,257.01 11,117.95
I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D 1 2 3 4 5 G OV E R N A N C E 7
Governance Process
At L&T, our core values The widely dispersed nature of L&T’s shareholdings Board of Directors Executive Committee (ECOM)
as well as the far-reaching impact that the business
revolve around the principles has on various stakeholders necessitates strong
The Board’s composition conforms to the provisions This group represents a top management review and
of the Companies Act 2013 and SEBI regulations. At decision-making body, which collectively evaluates
and ideals based on equity, norms of governance. This is one of the key tenets
this apex level, the Board formulates strategy through both strategic and operational functioning of the
followed in letter and spirit by the Company in the
transparency, accountability, course of conducting its affairs. A robust governance
a consultative process, and reviews the affairs of the various businesses. The members usually meet at least
Company regularly. For further details, please refer to once a month, and more frequently in case of matters
responsibility, compliance, charter enables the organisation to conduct its affairs
the Board Report to the Shareholders of the Company requiring attention at this level. All important matters
in a trustworthy manner, while creating value for
ethics and trust. Many all stakeholders.
on pages 70 to 181 of the Annual Report. including economic, environmental, and social topics
requiring collaborative guidance and direction across
governance practices that Governance in the conduct of business is achieved
During FY21, the Board met on eight occasions. It
the enterprise are reviewed by this body.
also functions through different Board Committees
we follow today were through a formal management structure and a set of
who oversee specific areas of operations on behalf Independent Company (IC) Boards
policies, procedures and guiding principles that are
voluntarily adopted before designed to ensure system-based compliance with
of the Board - the terms of reference of different
These are apex bodies at the business level and
committees are either governed by statute or defined
they were mandated by governance standards. These governance standards
by the Board. The Board Committees are chaired by primarily focus on strategic, tactical and operational
have evolved and matured over time. matters related to the business verticals. While most
law. Our business is run Independent Directors except for the Stakeholders
verticals are not legal entities, they are expected
Relationship Committee, which is chaired by a Non-
by professionals with rich Governance architecture executive Nominee Director of LIC. For further details to operate in an independent manner so that each
business functions in a Board-managed manner.
expertise in their respective Our Company operates through a 4-tier management of Board Committees, please refer pages 98 to 107 of
Each IC has a Board comprising Members from the
structure, which enables functioning of the business the Annual Report.
areas of operations – in an orderly manner with two-way feedback and Parent Board, 2 or 3 Independent Members from the
The following Board Committees are currently Industry and 2-3 Senior Executives of the IC. The IC
and they are required to communication methods established between
in force: Board helps the Business Head in bringing outside-in
different levels. The governance structure helps
continually demonstrate high ensure greater management accountability and Number of view and assessing the business performance.
Name of Board Committee meetings in FY21
governance standards. credibility, and facilitates enhanced business
Strategic Business Groups (SBG)/Strategic
autonomy, performance discipline and development
Business Units (SBU)
of business leaders.
Audit Committee 8 These represent the fourth tier of the governance
structure and are designed to function in an
Nomination and Remuneration autonomous manner. Each SBG/SBU is expected to
Committee 5 function independently and is periodically reviewed
for outcomes on all key performance parameters –
Stakeholders’ Relationship both financial and non-financial.
Committee 3
Board Board of Directors
of Executive directors, non-executive directors, Corporate Social Responsibility
Directors independent directors & Sustainability Committee 4
Apex Risk Management

ECom Committee 3
Executive Comprises CEO & MD, executive directors, senior
Committee executives
IC Board
Not necessarily legal entities; comprises
Independent executive directors, independent directors
Company Boards (industry experts), senior executives
SBG/SBU
Autonomous functioning units; comprising SBG/
Strategic Business Groups and SBU Company
Strategic Business Units
158 GRI Disclosures 102-5, 102-16, 102-18, 102-22, 102-23, 102-25, 102-26, 102-33 GRI Disclosures 102-16, 102-20, 102-29, 102-33, 102-22, 102-25, 102-31, 102-32 159
Noteworthy policies, procedures and directives are summarised below:
Governance Process Director’s familiarisation - Regular communication with Board members takes place
programme through circulation of newsletters and press releases,
augmented by site/factory visits that are arranged periodically.
Our Company has a structured
- Presentations are regularly made to the Board as well as the
mechanism to familiarise
Policies, procedures and guiding Independent Directors
various sub-committees of the Board, where Directors get an
principles about the fiduciary roles and
opportunity to interact with the senior managers within the
Company on relevant matters of business, strategy, performance
Formalisation and operation of the governance model L&T Policies Pillar
responsibilities of Directorship.
parameters, policies and processes.
is achieved through a wide-ranging set of policies, - During FY21, a total of 47 training hours were collectively
Sustainability Policy E,S,G
procedures and process-driven systems that have imparted to Independent Directors.
been institutionalised across the Company EHS policy E,S
We support, follow and demonstrate our commitment Board evaluation - The evaluation programme is led by an Independent Director
Green Supply Chain Policy E
to the following initiatives: in his capacity as the Chairman of the Nomination and
Performance evaluation of the
- GRI Sustainability Reporting Standards HR Policy S Remuneration Committee.
Board, Committees, Chairman
- Each Director is given relevant feedback and the overall
- United Nations Global Compact Network CSR Policy S
and the individual Directors
evaluation outcome is discussed at a Board Meeting once every
India (GCNI) is done through a process
Policy for Protection of Women’s Rights at year (refer page 77 of the Annual Report).
- Applicable International Labour Organization (ILO) S whereby all Board Members
Workplace take part in the evaluation
conventions
Whistle Blower policy G procedure using an external
- The National Voluntary Guidelines (NVG), India
third-party IT tool (owned and
- Sustainable Development Goals (SDGs) Risk Management Policy G administered by a specialist
- Other United Nations (UN) directives that comprise: external agency).
Related Party Transactions Policy G
∙ Statutory and regulatory compliance
∙ Business ethics Quality Policy G Whistle-blower policy - Our Company has a Whistle Blower Investigation Committee
∙ Fair and equal opportunity to all employees (WBIC) comprising 5 senior executives (Chief Financial Officer,
∙ Employee development through training This policy was formulated
Company Secretary, Corporate HR Head, Chief Internal
∙ Labour camps at construction sites in 2004 and has matured
Auditor and a senior executive) to manage both identified and
∙ Medical facilities at units, offices and and evolved, based on
anonymous complaints.
project sites experience as well as statutory
- The WBIC is responsible for investigation and resolution of all
∙ Steps to measure, monitor and conserve requirements of the Vigil
complaints and uses external agencies with forensic expertise
materials and energy Mechanism introduced by the
wherever required.
Companies Act, 2013.
- Under the policy, whistle-blowers are assured of protection from
any type of harassment or victimisation.
- During FY21, a total of 48 complaints were received through by the
Anti-Corruption and Anti-Bribery: Covenanted
WBIC, of which 46 complaints were resolved through appropriate
employees undergo mandatory training for anti-
action, and 2 complaints are in the process of being resolved.
corruption and anti-bribery practices. It is also a part
- A separate whistle blower policy has been extended to suppliers
of staff rules for covenanted employee staff which is
and channel partners – these policies are available for download
signed annually. Anti-corruption and anti-bribery is a
at https://investors.Larsentoubro.com/CorporateGovernance.aspx.
part of tender declaration.
- For further details on the whistle blower policy and its
implementation, please refer to pages 78, 79 and 108 of the
Annual Report.
Protection of women at - The policy is administered by two Committees whose jurisdiction

the workplace is demarcated by geographical areas that the Company
operates in.
Our Company has
- Awareness programmes are conducted across the Company
formulated a policy on
to sensitise employees on the importance of treating women
‘Protection of Women’s
colleagues with respect and dignity, and to inculcate awareness
Rights at Workplace’ in line
about the ambit of the term ‘sexual harassment’.
with statutory provisions
- During FY21 around 13,400 employees had undergone training
covering sexual harassment
through programmes/workshops on digital platforms.
of women at offices and
other establishments, where
employees are located.
160 GRI Disclosures 102-17, 102-11, 102-16, 102-25, 102-33, 103-1, 103-2, 103-3, 205-1 GRI Disclosures 102-16, 102-17, 102-24, 102-25, 102-28, 103-1, 103-2, 103-3, 412-3, 418-1 161
Governance Process
Code of Conduct - Another detailed CoC applicable to all Supervisors, Executives Internal controls - This framework ensures that adequate safeguards are built into
and Management personnel is in force, which includes a detailed processes through a control system that embeds governance into
Our Company has a The Company has a robust
escalation matrix and procedures to deal with breaches of the multitude of transactions that take place in a decentralised
formal Code of Conduct framework of internal
the Code. manner across the organisation.
(CoC) applicable to Board controls at the entity level
- The Code has also been extended to all unlisted - The framework is documented and covers both operational and
members and senior officers as well as the process level,
Group Companies. financial controls (including IT and Cyber Security controls) and
(please refer to https:// which is largely designed on
- The CoC incorporates principles of ethical behaviour and all spans the whole range of processes across the organisation.
investors.Larsentoubro.com/ the COSO model.
designated people are required to give annual declarations on - The design and efficacy of these controls are regularly tested by
CodeOfConduct.aspx).
compliance. the Corporate Audit Services Department, the Corporate Internal
- Periodic training is conducted for relevant stakeholders. Controls Department and the Statutory Auditors.
- Our Company is committed to such behaviour that is in - Reports on processes, exceptions and remedial measures are
consonance with the principles of honourable and fair business placed before the Audit Committee on a quarterly basis.
practices and affirms that it will not be party to any acts that - Please refer to page 334 and 335 in the Management’s
compromise ethical values. Discussion and Analysis portion of the Annual Report for
- Please refer to the Annual Business Responsibility Report on further details.
page 26 of the Annual Report for further details.
Prevention of insider - This includes systems for orderly disclosure of Unpublished
Code of Conduct for - It covers the need for compliance with environmental trading Price Sensitive Information (UPSI) in accordance with statutory
vendors regulations, health and safety, labour practices, human rights regulations.
The Company complies with
aspects, minimum wages, freedom of association, collective - Periodic emailers are sent across all units of the Company
Our Company has extended guidelines issued by SEBI
bargaining, prohibition of child labour, forced and compulsory highlighting the salient features of the SEBI Regulations as well
a separate CoC for vendors on the prevention of insider
labour, ethical behaviour, transparency in business processes and as the L&T Securities Dealing Code.
and service providers. trading.
environment conservation. - Internal norms relating to disclosure practices are disseminated
- All new vendors/service providers need to sign this combined to all ‘Designated Persons’ and appropriate disciplinary action is
COC as part of the initial empanelment process. taken even for minor infractions.
- There were around 183 procedural violations of the L&T
- During FY21 29,407 suppliers have signed the Code of Conduct.
Securities Dealing Code by designated employees during
2020-21. These violations were reported to SEBI and penalties
Stakeholder - The Investor Relations department has a structured process of amounting to ` 10.21 Lakh recovered from the employees were
engagement engaging regularly with capital market participants. remitted to SEBI Investor Protection & Education Fund (IPEF). In
- In FY21, the department engaged in 306 such meetings addition, an amount of ` 10.02 Lakh was recovered towards
Our Company engages
(covering 497 institutions) through a combination of one-on- profits made from contra-trade and also remitted to SEBI IPEF
with multiple stakeholders
one and group meetings in investor conferences, non-deal
(Shareholders, Customers,
roadshows, meetings at the Company’s offices and through
Employees, Vendors, Annual Business - The BRR essentially covers, inter alia, aspects of sustainability and
audio-video channels.
Government bodies, Responsibility Report various features of governance including ethics, transparency,
- Our Company has consistently won global accolades over
Communities, NGOs, (BRR) accountability, stakeholder grievance redressal mechanisms,
the last 10 years consecutively for its best-in-class Investor
Debt Financiers, among well-being of employees and human rights.
Relations programme. The annual BRR, which
others) on an ongoing basis - The BRR also affirms that the policies are aligned with the
- The Company also has a dedicated Corporate Brand was introduced through
through multiple business/ principles of NVG (National Voluntary Guidelines) and conform
Management & Communications department, which facilitates legislation in 2015,
official channels as well to international standards of ISO 9001, ISO 14001, OHSAS
an ongoing dialogue between the Company, media channels embodies the essence of
as structured stakeholder 18001 and ILO principles.
and citizens. Further details on communication channels with governance practices across
engagement programmes. - For details refer to Pages 22 to 43 of the Annual Report.
external and internal stakeholders are elaborated on page 31 of the organisation.
the Annual Report.
Governance Process
Related Party - To ensure that there is no conflict of interest and such business Risk management - The policy has subsequently evolved and matured over the
Transactions (RPT) is conducted on arms-length basis, all such transactions years into a strong framework that cuts across business,
Our Company first
are authorised through formal authorisation matrices operational, financial, geographical, IT and Cyber Security,
Our Company engages with formulated a Risk
designed at an apex level and also documented in line with brand and reputation protection, geopolitical, and talent
Related Parties (as defined Management policy in 2005,
statutory requirements. management risks.
under different statutes) following the issuance of
- The Audit Committee gives prior approval for all proposed - The Company’s risk policy and administration rests within a
in the normal course of statutory amendments
and probable RPT and subsequently reviews the actuals on a pyramid comprising a Board Risk Management Committee (a
business. to listing agreements
quarterly basis. Board level Committee with two Independent Directors and one
prescribed by SEBI.
- Statutory auditors also comment on RPT compliance in their Non-Executive Director); an Apex Risk Management comprising
annual Audit Report. the CEO, CFO and a Non-Executive Director; a Corporate Risk
- The monetary quantum and nature of all RPT (including Department headed by the CRO, and Risk Committees at the
transactions with Subsidiaries and Joint Ventures) are also Business Vertical (IC) level.
disclosed in the annual Financial Statements. (Please refer to - A feedback mechanism has been institutionalised which extends
Note 47 of the Financial Statements on pages 422 to 439 of the to the Board level.
Annual Report for further details). - The Company’s Corporate Risk Management initiatives have won
- The RPT policy is also available for download on the Governance recognition and accolades in multiple forums over the years.
and Compliance section of the Company’s website (https:// - Further details on risk management have been elaborated in a
investors.Larsentoubro.com/CorporateGovernance.aspx). separate section of this report.
Governance certification - The CEO and the CFO periodically certify to the Board (on
(CEO/CFO, Independent quarterly basis) that both of them jointly accept responsibility
Review Mechanism
Auditors), Compliance for establishing and maintaining Internal Controls on Financial Corporate Reviews
System Reporting (ICFR), that no instances of fraud have occurred in
- Compliance reporting - Monthly ECom meetings
the period under reporting, that the Financial Statements do
not contain any materially untrue statements and that those - Quarterly Business Review - Monthly HR council meetings
statements present a true and fair view of the state of affairs of - Quarterly EHS council meetings - Quarterly labour management
the Company.
- A similar certification system has been institutionalised and
Business/IC Reviews
cascaded to all levels where quarterly financial statements that
undergo audit/limited review by Statutory Auditors are also Review area Scope Periodicity
signed by Business Heads and Finance Heads.
- The Statutory Auditors also furnish an annual ‘Independent Business review Business Monthly
Auditors Certificate’ on compliance with Governance norms
PRM Operations Monthly
prescribed by SEBI. For details, refer to Page 120 of the
Annual Report. Risk Management Prebid/execution As per schedule
- The Company has also institutionalised a formal compliance
system whereby business heads and heads of corporate CSTI Budget/financial Monthly/real time
departments certify compliance with the various statutes
applicable to them. CSR Social audit/budget Monthly/real time
- A summary of the compliance certifications is also presented to
Digital Initiatives Product launch and enhancements Monthly
the Board quarterly.
SCM Online dashboards Live
Business Segments Project/progress Quarterly
HR Staff details Training Monthly/real time
Safety Online, risk etc. Live/annual
O&M Project & performance Quarterly/Monthly/real time
Finance Progress update Monthly
Labour Management Update Weekly
164 GRI Disclosures 102-16, 102-17, 102-25, 103-1, 103-2, 103-3, 206-1, 419-1 GRI Disclosures 102-16, 102-17, 102-25, 102-33 165
Organisation
Hierarchy
166 GRI Disclosures 102-18, 102-19, 102-23 GRI Disclosures 102-18, 102-19, 102-23 167
Business Review
Construction
Construction
Construction Equipment & Others
PAGE 169 PAGE 180
Heavy
Power Engineering
PAGE 187 PAGE 189
Hydrocarbon
Defence Engineering
PAGE 189 PAGE 192
L&T Valves L&T Realty

PAGE 196 PAGE 198
Riyadh Metro Line -3 Kingdom of Saudi Arabia
168 169
I N T E G R AT E D R E P O R T 2 0 2 0 - 21 L A R S E N & T O U B R O L I M I T E D 1 2 3 4 5 6 BUSINESS -WISE PERFORMANCE
Business Review
Buildings and Factories

We continue to lead in the engineering, Attempted 3D printing in
procurement and construction (EPC) of FY21 and built a single-storey
airports, hospitals, stadiums, retail spaces, building as a pilot project, in a
educational institutions, IT parks, office quest towards the use of high-end
buildings, data centres, residential buildings, technology in the process. Further
high-rise structures, mass housing complexes, research enabled us to complete
cement plants, industrial warehouses and India’s first 3D printing of a G+1
other factory structures in India and other building with reinforcement.
focused international markets. We are Both the modular facility for
recognised across the globe for creating iconic hospitals and the 3D printed
structures and engineering marvels. structure were done at L&T’s
Kancheepuram facility.
Use of 3D printing in construction
ICC Towers, Mumbai
MAJOR ACHIEVEMENTS
Landmark executions
IIT HYDERABAD
Significant Initiatives
- Under B&F Fast, a business initiative
Environment, Health and Safety
The business has been continuously improving
430
Virtual training sessions
was undertaken for construction time safety standards by introducing various training
conducted in FY21
Three-dimensional in-situ folded roof slab with reduction, using the latest technologies programmes, digital/VR training and awareness
huge span varying from 42-56 m was cast in such as DfMA (Design for manufacturing sessions. An integrated training module has been
the IIT Hyderabad project and assembly) and PPVC (Prefabricated, rolled out as part of the WISA (Workforce Induction Diagnostically Evolved Site Intervention (DESI) was
Prefinished Volumetric Construction). and Skills Application) digital app. The module implemented through Training Need Analysis at the
∙ Promoted factory-based, off-site enables the project teams to identify the training project site level and a tailor-made training session
construction, reducing the overall needs for specific trades of workmen, allows effective was designed for 18 project sites across India.
IICC, DWARKA timeline of the project and ensures scheduling of the training, build worker profile, track The learning edge platform (LEDGE) was made to
high quality individual worker competence levels and maintain improve the engagement of the engineering trainees
Erection of roof truss modules weighing
∙ A modular set-up for setting up quick training records that are inducted every year by providing them with a
1,000 MT using the new innovative hybrid
hospital buildings has already been structured learning plan and hands-on experience of
methodology was executed in 5 stages –
4 modules each weighing 200 MT in IICC,
established as a trial Human Resources the various functions involved in a project.
- Developed “L&T Buildings Occupational
Dwarka project To nurture the psychological well-being of staff Buildings and Factories digital skill inventory comprises
Standards” (LTBOS) in line with National
during the COVID-19 crisis, an Online Behavioural employees’ knowledge, experience and skills. A
Occupation Standards (N.O.S) by NSDC to
Intervention, encompassing anxiety and fear database of profiles of 6,000 staff was built through
help screen workmen for their designated
management, the importance of positive thinking and a digital solution which structures, categorises and
trade and skill before deployment.
MAHINDRA, TAMIL NADU managing change during turbulence, were designed. stores up-to-date skill information under 40 major
Employees were also encouraged to attend VILT skills and 540 sub-skills with proficiency levels from
First to build a parabolic asphalt high-speed (virtual instructor-led training) sessions to maintain the Basic to Role Model.
test track with a unique 44-degree curvature, pace of learning. About 430 virtual training sessions
at Mahindra test track project, Tamil Nadu were conducted during the year. Through these
initiatives, four training man-days per staffer were
achieved, with coverage of 79% of staff.
170 171
Business Review
Transportation Heavy Civil Infrastructure

Infrastructure L&T enjoys undisputed market leadership in
the Heavy Civil Infrastructure (HCI) business
It is one of the oldest, largest business of ours. with EPC projects across core civil infrastructure
We feature among the most reputed EPC segments (metros, special bridges, hydel and
contractors in India in the road, railway and tunnels, ports and harbours and defence). We
airport sectors. It has two Strategic Business are involved in the construction of metro rail
Groups (SBGs), namely, Roads, Runways systems in almost all the major Indian cities.
and Elevated Corridors (RREC) and Railways We have established a position of leading in
Business Group (RBG). bolstering the country’s defence. Dedicated
design and technical centres, competency cells,
specialised training centres, digital project
A section of Mauritius Metro Project management and a talented pool of employees
help us sustain a leading role, attract marquee
Significant Initiatives such as use of fog cannons, water sprinklers for clients, penetrate new geographies and secure
dust suppression, proper disposal of C&G and major orders.
Further to full range railway system integration hazardous wastes and use of renewable energy
projects such as the Dhaka and Mauritius LRTs, the (solar power) are being followed.
Railway business is gearing up to assimilate newer
technology skills to address some of recent projects, Human Resources Kakrapar Atomic Power Project Package 3 & 4
such as the RRTS Slab Track and Mumbai Metro
LVT Track. Following the nation-wide lockdown, the HR team
proactively started various initiatives to keep the staff Significant Initiatives
Environment, Health and Safety motivated and engaged at their homes by conducting Digitalisation has become a way of life and has - British Safety Council (BSC)-accredited 1-day BBS
various awareness programmes, training programmes, been integrated into the project delivery process. (Behaviour Based Safety) awareness certification
- Transportation Infrastructure projects are typically webinars and personal connect to check on their well- The business digitally monitors, in real-time, courses were organised for projects. A total of
spread across hundreds of kilometres, with a being and offer any help required. To keep the staff the productivity of the 3M – Men, Material and eight training programmes were conducted during
multitude of discrete safety risks that are both motivated, the business introduced Hi5 – an online Machinery – factors critical to project success. For the year.
location and task-specific, and oversight of portal for recognising staff members who have done effective project delivery, the business leverages - The business provides control measures for
adherence to safety norms at each work-front extraordinary work amidst the lockdown. contemporary digital technologies and drone-based emission control, wastewater treatment and
simultaneously poses a major challenge. To
The business has taken a significant step to enhance project monitoring, 5D BIM and innovative digital waste management at construction sites in line
overcome this, various initiatives were undertaken
the safety culture by instituting the LIFE (Loss and platforms such as WISA (Workmen Induction and with regulatory requirements and ISO 14001 EMS
to enforce and monitor EHS protocols across all
Injury Free Environment) Awards to recognise and Skills Application) for workmen mobilisation and requirement. Wastewater from the labour colonies
work-fronts.
reward project teams that demonstrated excellence in induction and Virtual Reality (VR) based training of and site offices is being treated by STP. Bio-toilets
- Periodic virtual training by means of SPARSH workforce in EHS (Environment Health and Safety)
safety practices. are also being used for sewage treatment at
(Standard Precautions using Augmented Reality aspects. project sites.
for Safety and Health) and virtual reality devices To ensure learning and development of the staff,
- Various projects across the business have received
at various work locations for workmen have two comprehensive Competency Developmental Environment, Health and Safety EHS awards:
been introduced. In FY21, 27,587 trainings, Programmes were designed and initiated this year
corresponding to 272,261 man-hours, were – ‘NPL – Nurturing Potential Leaders’ for senior - Committed to the mission of ‘Zero Harm’ the ∙ Gold Award from RoSPA (The Royal Society for
conducted across all sites. potential leaders and ‘PEDP – Planning Engineers’ business clocked 343 Million safe man-hours in the the Prevention of Accidents) – UK, has been
Development Programme’ for Planning staff in year, and 16 thousand man-hours were invested conferred upon KKNPP 3 & 4 MPCW projects
- Inspection and verification are done online
junior cadres. in EHS awareness and training. The EHS app was ∙ The Prestigious Golden Peacock Environment
through a Digital App – RtR (Reverse the Risk)
launched to ensure compliance with corporate Management Award for 2020
and Dome 360 Degree that allow safety officers
SOPs on restarting projects. The supervisor EHS ∙ In October 2020, Kakrapar Atomic Power Project
to remotely inspect and monitor safety measures
Recognised for our efforts checklist was developed to ensure activity risk won the ‘Sarvashreshtha Suraksha Puraskar
and ground conditions before giving the go-ahead
During FY21, the business was control by the supervisor. The Artificial Intelligence Award’ (Gold Trophy) from National Safety
for execution.
conferred 17 international platform was implemented which improves Council of India (NSCI)
- The Green Card System is implemented across the awards, 7 of which were from construction safety through hazard spotting at ∙ Kakrapar Atomic Power Project 3 & 4 bagged
business for fitness verification of P&M equipment RoSPA (Royal Society for the construction stages and suggests the applicable the ‘Best Safe Contractor Award (Winner)
before deployment through the IB4U digital app. Prevention of Accidents) and requirements for the hazards identified. – 2020-21’ from NPCIL (Nuclear Power
- The Environment Management System (EMS) has 10 from the BSC (British Safety Corporation of India Limited)
been implemented in the business and various Council). The business has also
control measures to reduce environmental impact won 3 prestigious safety awards
are being followed across sites. Good practices from NSC (National Safety
Council), India.
172 173
Business Review
Human Resources Power Transmission and

- The business has always been focusing on
employees and innovative initiatives towards
- During the lockdown and thereafter, various
employee engagement and well-being
Distribution
employee development. programmes such as awareness on COVID-19, The Power Transmission & Distribution (PT&D) business
- Leadership interventions, such as Global Leadership mental health, on-line cultural programmes vertical is a leading EPC player in the Transmission and
Development Programme (GLDP), Frontline Rock Off and Rave On, talent shows and various Distribution (T&D) and solar energy segments. We offer
Leadership Programme (FLLP), and Project competitions were organised, with continuous integrated solutions and end-to-end services – ranging from
Leaders Assessment and development (PLDP), are employee reach-out initiatives. design, manufacture, supply, installation and commissioning
held regularly. - The HR Talent Acquisition function has been of transmission lines, substations, underground cable
accredited with ISO 30405 : 2016, endorsing its networks, distribution networks, power quality improvement
- The initiative of Trainee Engagement and
transparent recruitment process. projects, infrastructure electrification and fibre optic
Development Center (TEDC) for Graduate Engineer
backbone infrastructure, to solar PV plants, including floating
Trainees (GETs) is well institutionalised. - Further, the business has been conferred
solar, battery energy storage systems and mini-/micro-grid
- A 360-degree feedback has been introduced for prestigious awards such as the Golden Peacock HR
projects. We are present in India as well as in the Middle East,
Project Directors, followed by rigorous coaching Excellence Award and ATD Best Award for Talent
Africa and ASEAN markets.
based on the ‘GROW’ (Goal, Current Reality, Development from the internationally acclaimed
Options and Way Forward) model. Association of Talent Development body of USA.
Rajpura project at the cusp of completion in

December 2013
Significant Initiatives
- A specialised team of top-notch experts has
been created to develop and deliver smart digital
solutions worldwide, leveraging the engineering
2.75 Lakh
Man hours of safety training
know-how and integration abilities.
were provided in FY21
- The first international battery energy storage
system order secured in Thailand has achieved
substantial progress. The 52 MWh system is meant Human Resources
to provide grid stability in a region with a large, - HR has conducted several awareness sessions for
inherently intermittent renewable generation. employee health and wellbeing.
- A special thrust was given on Stakeholder Connect, - A wide range of virtual learning activities and
a drive through which the supply chain team digitally collaborated tools were created. Several
reached out to different levels of vendors to learning opportunities and knowledge-sharing
deliberate on challenges and mitigation measures. sessions for skill upgradation were provided.
- As part of employee development and talent
Environment, Health and Safety build-up, the business continues to create a
The implementation of ‘Vision Zero Harm’ related talent pipeline across the levels through bespoke
initiatives and enforcing of appropriate SOPs were development programmes and coaching.
pursued with vigour and enthusiastic participation. - A framework named ‘REACH’ has been rolled
Helmets with in-built Bluetooth devices were deployed out, with year-long activities, designed to elevate
to improve communication amongst workmen engaged employee engagement experience.
in height work. The analytics generated through the
improvised SHEiLD application were helpful in identifying
root causes and associated behaviours, thereby enabling
implementation of suitable interventions. Various digital
and technical initiatives such as One Time Password-
based approval for shutdown works, deployment of
safety kiosks and biometric access for forklift operation
in factories were implemented. More than 2.75 Lakh
manhours of training were provided to staff and
Four-lane road from Krishnagiri to Thopurghat on NH-7 in Tamil Nadu workmen to enable them to imbibe the safety culture.
174 175
Business Review Business review
Water and Effluent Metallurgical and

Treatment Material Handling
The Water & Effluent Treatment (WET) The business offers its global clients
business specialises in the water infrastructure comprehensive EPC solutions for the
construction for efficient usage, conservation metal (ferrous and non-ferrous) sectors.
and treatment of water. It is a leading player It undertakes end-to-end engineering,
in the domestic market and has significant procurement, manufacture, supply,
success globally. construction, erection and commissioning,
spanning the complete spectrum from
mineral processing to finished metal products.
48 MLD Water Treatment Plant, Gadaj, Karanataka Blast Furnace, JSW, Dolvi
Patents Sustainability Initiatives The comprehensive product solutions includes MAJOR ACHIEVEMENTS
mineral crushing equipment and plants,
In a constant endeavour towards achieving self- - The business works with local communities, NGOs, surface miners, premium sand plants, material
sufficiency in treatment processes and transforming schools and colleges to enhance green cover and handling equipment (stackers, reclaimers, JSW STEEL, BELLARY
into a ‘Technology Driven EPC’, the business has spread awareness about the environment. Over eight wagon tipplers, ship unloaders, multipurpose 5 MTPA blast furnace and steel melt shop
developed, incubated and patented a new technology Lakh saplings were planted across the country during cranes and other mining equipment) as well projects for JSW Steel, Bellary
for domestic wastewater treatment. the year. as steel plant machinery catering to cement,
- ‘Go Green’ campaign was conducted across project mining, power, construction, steel, fertilisers
Environment, Health and Safety sites to encourage reuse and recycle of waste and chemical plants.
- Achieved 117 Million safe man-hours for the year materials. 12,000 MT of waste was recycled so far. VEDANTA, LANJIGARH
- 600+ Virtual EHS audits conducted to monitor EHS - ‘Ulta Chatha’ initiative was curated to facilitate Marquee projects 3 MTPA Alumina Refinery project for Vedanta
implementation across project sites ground water recharge by rainwater harvesting in all
Marquee projects commissioned/at an at Lanjigarh
project sites.
- Proactive risk mitigation through patented ViewEHS advanced stage of completion in FY21 are:
app for centralised reporting, documentation and - Solar panels were installed across project sites to
reduce dependence on non-renewable energy sources. - Slab caster, Bokaro Steel Plant – first slab
EHS performance measurement
casted
- 5.6 Lakh manhours spent on training staff and Human Resources - Coke oven project, JSW Steel, Dolvi –
VEDANTA, LANJIGARH
workmen at project sites. Training modules are
- Thrust on leadership development, competency Completion of first coke push of Battery D In-house design, development and
tailor-made project-wise for identified hazards that
development and succession planning with focused - Blast furnace, JSW Steel, Dolvi – manufacturing of launching girder for high-
could lead to major incidents
competency development programmes, coaching Commencement of stove heating up speed railway project
- Development of ATL (Any Time Learning) Modules
programmes and capability building courses - SK Mines PH III – Commissioning of Phase III
on ISO 45001:2018 and ISO 14001:2015 Standards
for designing and implementing safe, healthy and - Employee Recognition Programmes, such as PRAISE graphite package
environmentally friendly workplaces across offices and RAVE, to spark the innovative spirit of our - 12 Surface miners commissioned across
and sites employees and ensure continued excellence at work India for various clients
- EHS Climate Survey to evaluate the maturity level - Development Week 2020: A unique learning
of the EHS culture in the organisation initiative to create awareness about the training and
development offerings available for all the employees
to upskill themselves
117 Million - Learner’s Corner: An internal website which serves as

an easy-to-access and user-friendly platform to host
Safe man-hours achieved in FY21 Learning & Development offerings
- ‘WET IC Radio’: A new medium of internal
176 communication with employees using podcasts 177
Business Review Business review
Significant Initiatives Human Resources Smart World &

The business has formed strategic alliances with
leading global technologists to offer comprehensive
Focus was laid on creating a robust talent pipeline by
identifying future and potential leaders. The impetus
Communication
EPC solutions across various sectors of mineral was on all-round development of business leaders L&T’s Smart World & Communication (SWC)
beneficiation, steel processing units and various by providing challenging opportunities, job rotation, vertical was created in 2016 to address the
by-product plants of mega size. Technical active handholding, and mentoring/grooming by emerging need of a safe, smart and digital
collaboration has been strengthened with Kemco, senior leaders. Across the cadres, key high-potential India.
Japan for the addition of new products for the talent is identified right from ‘Talent in Cradle’ for
construction industry. staff in S&E Band to ‘Leaders on the Go’ for senior
Tier 3 staff. Leaders for senior key positions are
The business has embarked on significant modularised
identified as part of succession planning. A host of
and mechanised construction approaches to improve Smart cities and Smart
specific competency-based programmes are organised
efficiency and the speed of delivery. infrastructure
to shape and fine-tune their leadership skills.
Environment, Health and Safety Despite the pandemic business continued with
talent acquisition activities through virtual mode, Safe cities
The EHS roadmaps were launched based on
right from interviewing until onboarding. For the
organisation-wide policies. To combat the COVID-19
first time, onboarding and orientation of GET/PGETs
pandemic at sites and offices, proactive initiatives Communication and
was successfully executed using the digital platform.
were taken, such as strict implementation of SOPs, Telecom infrastructure
Learning and Development went totally virtual during
adequate quarantine/isolation rooms, recording
the lockdown, in view of all SOPs/Covid protocols.
attendance through facial recognition, and webinars/
training programmes for resumption of work A wide range of technical and behavioural Integrated Command Control Centre for NDMC
post lockdown. programmes was conducted, ranging from Data
Analytics, Construction 4.0, Smart EDMS system, Major Achievements Human Resources
Increased implementation of digital technologies
Primavera, Aveva, Building Agile Teams, Creativity
helps to regulate safe working conditions. Various - BharatNet Phase-II Active Electronics in Tamil Nadu, - The business continues to attract expert technical
and Innovation, Analytical Thinking and Situational
digital tools include Virtual Reality (VR) based training Package-C project through TANFINET talent and industry leaders in the areas of Safe,
Leadership. ATL Next has also played an important
modules for ‘Safe Material Handling’ and the IB4U Smart and Communication domains.
role in meeting the training needs of staff members, - Real Time Information System through Centre for
app for tracking the inspection of various equipment
being an effective virtual mode of imparting training. Railway Information System for Indian Railways - Inducted young technical talent from leading
and PPE, EHS Training integrated through the WISA
campuses, such as IITs and NITs. ‘Udaan’ – the
app and Chatbot for health monitoring. During the lockdown, initiatives focused around
‘Wellness’ of the staff as well as their availability
Environment, Health and Safety entry-level training and mentoring programme,
3,700+ EHS Training Programmes were conducted has played a pivotal role in getting fresh
for business through ‘Work from Home’. Flexi-time - Conducted ~200 EHS campaigns to raise
during the year, covering 0.43 Million training man- graduate engineers ready to perform in diverse
was introduced to make it easy for staff to attend awareness and to engage staff and workmen.
hours. Various projects and factories received 7 RoSPA functional roles
office. Dedicated medical support, doctor on call, ~19 external trainings were conducted through
Health and Safety awards during the year. - The ‘Covid Heroes’ programme showcased some
counselling sessions through TISS and COVID-19 experts and health care professionals to educate on
Environmental initiatives undertaken are as follows: SPOC across the locations were key interventions to COVID-19, mental stress, personal hygiene, among of the star employees whose stellar contributions
maintain staff health and morale. At sites, as per the others. The business completed 4.26 Million supported local and state governments in
- Recycled plastic plywood extensively deployed monitoring and managing the COVID-19 crisis,
SOP, arrangements were made for stay, food and site safe man-hours during the year. 952 trainings
along with plastic formwork to reduce while ensuring the safety and well-being of staff.
commute to ensure staff availability and wellness. were conducted, clocking over 17,159 training
the dependence on natural hardwood or
man‑hours. - Digitalisation provided an excellent opportunity,
treated plywood A series of Town Hall Leadership Speak sessions for
- The inhouse digital application ‘VIEW EHS’ was during the lockdown period, for employees to
- Dust-suppression through bio-based solution the business, Call to Staff and Joy @ WFH established
effectively utilised to monitor, track and analyse invest in their skill development. Experts across
implemented at a project site effective communication channels for clarity amongst
EHS observations, safe execution cards, trainings, the Company shared their expertise through daily
staff on the way forward during such challenging
- Occupancy sensors at office buildings (EWL facility) audits, inspections, forms and other activities, technical webinars on topics such as Cloud, Data
times.
to optimise power consumption resulting in an incident free year. Centre, Surveillance, Cyber, Network Security, GIS,
- Usage of spillage tray implemented at several Broadband, TETRA, Platform, among others. As
project sites part of development plans, over 150 employees
4.26 Million
achieved technical certifications in areas such as
Cyber Security, Cloud Computing, Networking,
Data Science and Project Management.
Safe man-hours in FY21 Leadership mentors helped shape careers
and provide developmental opportunities for
high‑potential talent.
178 179
Construction
Construction and
Equipment & Mining Equipment
Business Unit (CMB)
Others CMB focuses on distribution and after-sales
service for hydraulic excavators and
dump trucks manufactured by Komatsu India
The Construction Equipment & Others Private Limited (KIPL) and other
(CE&O) business pertains to manufacturing mining and construction equipment
and marketing of construction equipment, manufactured by Komatsu worldwide. It
mining equipment and equipment for the is also responsible for the distribution and
tyre industry, broadly segregated into two providing after-sales support for a range
business segments - Construction & Mining of construction equipment including wheel
Machinery (CMM) and Rubber Processing loaders, compactors and hydraulic
Machinery (RPM). Also, in this entity is a excavators manufactured by LTCEL and
Product Development Centre (PDC), based Mining Tipper Trucks manufactured by
at Coimbatore, that renders engineering Scania India.
and product development support for the
businesses under CMM and RPM. Further
CMM comprises Construction & Mining
Equipment business unit (CMB) and L&T
Construction Equipment Limited (LTCEL), Stacker-Reclaimer
a wholly owned subsidiary of L&T.
In addition, the division handles distribution
and after sales support for the equipment viz. MAJOR ACHIEVEMENTS
sand plants, surface miners, mobile crushers
and apron feeders manufactured by L&T’s - Four units of 250 Tonne 16 CuM largest Komatsu
Metallurgical & Material Handling business Electric Shovel PC3000 commissioned in India at
(MMH), Kansbahal, Odisha. SECL site
CMB has sold 55,000+ machines with an - Timely supply, erection and commissioning
active machine population at around 30,000. of 43 units of various machines at Coal India
CMB with six state-of-the-art service centres subsidiaries during the pandemic
across the country with a contemporary central - Komatsu PC210-M0 excavator became the fastest
warehouse at Nagpur, provides maintenance selling model in the industry to reach 1,000
contract support currently to 160+ sites across in number
India. Besides this infrastructure, there are - 1st HD785 dump truck deployed at Tata
additionally about 130 service support locations Steel crossed 60,000 hours of usage with
and dealer touchpoints, thus providing 94% availability
comprehensive solutions for the construction
- Major single order won from Tata Steel for indirect
and mining sector customers.
supply of dump trucks with maintenance contract
- L&T’s Crushers enjoy 90% market share in
cement sector
- Highest-ever sales of L&T’s Surface Miners in
coal sector
L&T’s Crushers enjoy

90% market share in
Piling work at Panki, Kanpur cement sector
180 181
Business Review
Significant Initiatives Safety Initiatives and Awards L&T Construction

Innovative initiatives were launched under the - The business has continuously and successfully
Machine Care Programme (MCP) during the year. implemented EHS initiatives and is moving towards Equipment Limited
- Suraksha-10000: a unique MCP with value-added
‘Zero reportable accident‘ and ‘Zero loss of
man‑days’.
(LTCEL)
services and Extended Power Train Warranty
- CMB’s EHS programmes comprise – PPP - (P)roduct LTCEL, located in Doddaballapura, near
(Covering Engine, Hydraulic Pump, Control Valve,
Safety, (P)eople Safety and (P)lace Safety at service Bengaluru, manufactures vibratory
Swing Machinery, Swing Motor, Final Drive and
centres and customer sites. compactors, wheel loaders, hydraulic
Track Motors) for a period of 4 years/10,000 hrs,
excavators, asphalt paver finishers, pneumatic
for Komatsu PC210/PC210LC-M0, PC300LC-8M0 - Suraksha Mithra and other such safety awards from
tyred rollers, skid steer loaders, hydraulic
and PC350LC-8M0 models Corporates like Tata Steel, Ambuja Cements and
power packs, cylinders, pumps and other
- Suraksha-Kavach: an enhanced MCP with Ultratech Cement.
components. The construction equipment
Suraksha-10000 and Kavach-7500/WEW-7500 and road building machinery manufactured
(Work Equipment Warranty) covering Boom, Arm, Training and Skill development by LTCEL are marketed and distributed
Revolving Frame and H-Frame for a period of initiatives exclusively by L&T’s CMB, while the marketing
3 years/7,500 hrs, for Komatsu PC210/PC210LC- of the hydraulic components and systems is
- CMB’s Central Training Centre (CTC) completes
10M0 models taken care by the sales team at Hydraulics
25 years of operations
New machine attachments, such as super long front Works in LTCEL.
- Innovative technologies deployed for training, viz.,
arm with reach up to 21 m, tunnelling attachment,
VR simulators
pile driving attachment, breaker booms, mining
breakers among others, were also introduced. - Partnering with State Governments for training
initiatives (MoU with DTET Odisha and NAC
Hyderabad) Komatsu PC210-10M0 Hydraulic Excavator – the truly efficient
and fastest selling equipment in the construction segment in India
- Best IESC training partner – Yellow Dot award for
five consecutive years
∙ Last 5 years: 2,700+ training programmes;
The plant, spread over 62,400 Sq. mts., Major Product Developments
is accredited with Environment Management
48,000+ participants system ISO 14001:2015, Occupational Health &
in FY21
∙ Women empowerment – operators and Safety Management System ISO 45001:2018 and - Product developed with CEV IV Emission Norm
mechanics Quality Management system IS0 9001:2015. compliant Engines
The construction equipment sector had witnessed - Products with safety features as per CMVR rules
a huge contraction across all segments and the - Introduced contemporary design Asphalt
Wheel Loader segment had been impacted by Compactor Model L&T 990 HFi
about 28% and Compactor segment had been - Introduced attachments such as slope compactors
impacted by about 7%. Despite such market and rock splitter for use on Excavators
conditions, the Company has been able to
maintain its market share across all its products. Environment, Health and Safety
The Company has undertaken several cost control
measures and optimised the inventory during the - Achieved more than 500 accident-free days of
year under review. operation in one of the production units of the
factory
- Conducted tree plantation on World
Environment Day
- Zero discharge factory
- Distributed groceries, PPE kit for the neighbouring
villages as part of CSR activities
- Customised COVID-19 protection kit for operators
of equipment being supplied
Stacker cum Reclaimer – 22 Mtr. – JSW- Dolvi, Maharashtra
182 183
Business Review
Human Resources Awards & Accolades

Rubber Processing
During COVID-19 pandemic, the health of employees, In this financial year, the Company has won the
their families and all other stakeholders was closely following awards Machinery Business
monitored for business continuity.
- Task force constituted for COVID-19 Case
- Gold Award for Morale Boosting Innovative HR
practices during COVID-19 from CII Institute
Unit (RPM)
management and prevention of Quality L&T’s RPM division, located in Kancheepuram
near Chennai, is a leading market player with
- Programmes on awareness on COVID-19 organised - Gold Award in Quality Circle competition from
five decades of experience, manufacturing
for all stakeholders QCFI – Bangalore Chapter
and marketing rubber processing machinery,
- Vaccination drive at workplace for all employees i.e. mechanical and hydraulic tyre curing
and their families presses, tyre building machines, conveyor
- Work from home during full/partial lockdown systems and tyre automation systems for the
- Regular interaction with employees for monitoring tyre industry globally.
the wellbeing
- Received CII best practice award for COVID-19
management
Rubber Processing
The factory spans about 19.28 acres and

houses a facility for research and development,
manufacturing including fabrication, machining and
MAJOR ACHIEVEMENTS
assembly, with an electronic panel building shop.
Some of the initiatives introduced by the
The R&D facility that is recognised by DSIR focusses business are:
on innovation and backed by decades of industry
- A ‘Technology Centre initiatives’ cell has been
expertise to offer continuously improved machinery
set up to discuss and initiate action towards cost
to tyre majors around the world. The RPM
reduction, process and product improvements for
plant is a zero-discharge unit and conforms
the tyre industry. 20 such initiatives were launched
to ISO 9001:2015, ISO 14001:2015, and
during the year
ISO 45001:2018.
- Implemented a B2B commerce platform ‘e-RPM’
for handling customer enquiries and offers online
- Developed of Induction type Platen Heating
System in tyre curing presses towards commitment
to the environment, which is likely to see good
customer acceptance
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Business Review
Major Product Developments Human Resources

Significant achievements were accomplished in
bringing out new products in the Hydraulic Tyre
Curing Presses and Tyre Building Machines segments.
- Employee health, their well-being and COVID safe
practices were prioritised this year
- ATL (Any Time Learning) training programmes have
Power
Some notable introductions were in the following provided good opportunities for the employees to
product segments – New generation Truck and grow their knowledge and improve their technical
Bus Hydraulic Tyre Curing Presses, Floor mounted L&T is one of the leading EPC players in the
skills to become more effective and efficient in
Hydraulic Tyre Curing Presses for Passenger Car Radial, power plant business in India. We are trusted
the workplace
New range Off Highway Tyre (OHT) building machines for delivering complete turnkey business
- Various improvement initiatives were solutions from concept to commissioning to
including both first and second stages.
conducted through virtual mode to engage and the thermal power industry.
motivate employees
Intellectual Property Generation Our strong competency has made us a
RPM Business Unit has a very strong process in place Training & Skill development dominant player in emerging technologies
such as Flue Gas Desulphurisation (FGD) in the
for registering and protecting its intellectual property. initiatives thermal power plant industry and we now
32 applications for grant of patents are in various
stages of being processed across India, USA and RPM is supportive of the National Employability have a sizeable presence in the FGD business.
Thailand. Enhancement Scheme, a pioneering initiative
of Government of India, wherein it provides an
Environment, Health and Safety opportunity for learning various skills on the job for
many students immediately after their curriculum
- The business unit has successfully implemented completion. This helps the nation at large in
safety initiatives that result in zero loss of man-days developing an employable skilled workforce. RPM
during the year has provided such opportunities to more than 100
- Scrupulous Covid safety protocol (SOP) students to receive on the job training during the year.
implementation with social distancing at every
place in the unit including offices, shop floor,
canteens and meeting places, and ensured business
continuity. All meetings were conducted through
virtual teleconference tools
- Continued focus on tree plantation and increased
in green cover by adding 51 trees and increased the
cover to 1,425 trees till end-March 2021
- Reduced water consumption by biologically
recycling wastewater for use in the lawns and
garden in the factory estate
Ultra-supercritical/supercritical turbine manufacturing facility at Hazira, Gujarat
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Business Review

Heavy
MAJOR ACHIEVEMENTS
- Completion of facilities of India’s first
ultra supercritical power project for
- Liaison/tie-ups with nearby COVID-19 treatment
hospitals/facilities
- Augmenting medical facilities and resources to take
Engineering
Central Utility in Madhya Pradesh care of the employees
- Final take-over of 2nd Unit in a project in - Regular sanitisation of all facilities and vehicles The business ranks among the top-three
Rajasthan for a state utility - Provision of isolation facilities and conducting of global fabricators to supply engineered-to-
- Received provisional acceptance for a gas regular inspections of labour colony and bachelor order critical equipment, piping and systems,
project in Bangladesh accommodation including critical revamp and upgradation
- Continuous health monitoring (temperature as well projects, for core sector industries.
- Performance guarantee test of a gas
project in Bangladesh as SpO2) of all employees
- Commercial operation of a central - Regular training/counselling of all employees
utility project in Uttar Pradesh where regarding precautions. Provided essential supplies
the supercritical boilers are supplied by in labour colony during lockdown.
boiler JV The business continues to focus on safety awareness
- A dominant player in the FGD market, weekly and monthly initiatives. Specialised external
with over 20% of the market share trainings were conducted in welding and gas cutting
operations, safe usage of PPEs and a demo on
work-at-height rescue, fire safety and fire-fighting
techniques at all project sites. An external virtual
Significant Initiatives training programme was conducted on ‘Scaffolding
The business is strategically focusing on new and Lifting and Rigging’ for various sites for frontline
energy areas having significant potential such as engineers, contractor supervisors, foreman and
energy storage, carbon capture, among others. It is scaffolders and riggers. Detailed sessions regarding
working on a business plan for technology selection implementation of the EHS Council’s ‘Mission Zero
and finalisation of Go-To Market strategy. Harm’ roll-out plan for each site were organised.
It continues to focus cost reduction initiatives Leveraging digitalisation for safe work environment:
on procurement, manufacturing, logistics, value
- Developed and implemented Online App STARRT
engineering, overheads, among others to improve
(Safety Task Analysis Risk Reduction Talk) card for
competitive edge. The business also enhanced
multiple or simultaneous or multi-level activities
its focus on initiatives to achieve quality and EHS
excellence and expand its global footprint. - Cameras installed across sites/facilities for real-time
monitoring and capturing of unsafe acts/conditions
It is strengthening its business development efforts and communicating the same to site safety
to expand its international footprint. personnel for immediate and long-term corrective
action
- Conducted six monthly online Internal EHS audits
on the Teams platform with a virtual tour of site
operations and interviewing of contractor and
operations’ employees
20%
Market share in the FGD
market
MRU - HEML Bhatinda Turnaround
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Business Review
MAJOR ACHIEVEMENTS
- Secured breakthrough orders of acrylic acid - In the Nuclear business, good performance in Significant Initiatives Environment, Health and Safety
reactors for Indian refineries, breaking the the execution of the ITER cryostat was rewarded - Weathered the challenges posed by the pandemic The business has developed and implemented
monopoly of European manufacturers with a contract for assembly integration work by adopting safe working practices, encouraging SOPs complying with COVID-19 protocols for social
- Received an order for supply of titanium heat of the vacuum vessel at Cadarache, France. The work from home, increasing virtual meetings, distancing, PPEs and hygiene.
exchangers for IOCL’s PTA plant business team flagged off the most complex and virtual audits and inspections, online approvals, etc
final assembly of the cryostat, the world’s largest As a part of the energy conservation drive, installation
- World’s heaviest LC-MAX reactor, weighing - Launched the ‘Knowledge Management’ initiative of magnetic resonators in all furnaces was carried
stainless-steel, high-vacuum pressure chamber
2,313 MT, was dispatched to HPCL’s with the aim of being a ‘one stop solution’ for out. Magnetic resonators maximise the specific
Vizag Refinery - Secured an order for 12 Steam Generators (SGs) young engineers seeking information on core contact area between fuel molecules and inlet
from NPCIL for the prestigious 3 x 700 MWe product, process and functional knowledge
- Secured orders for the supply of 11 hydro air for complete combustion, which results in less
Pressurised Heavy Water Reactor (PHWR)
processing reactors for renewable diesel projects - The Mentoring Wave III initiative was launched, consumption of input gas.
in the EU and the USA - Created a new global benchmark in nuclear wherein senior colleagues help in competency
manufacturing by delivering the first out of four Safety is monitored with both ‘proactive’ indicators –
- In the Petrochemical sector, secured four PO development of young colleagues through their
700 MWe steam generators for the Gorakhpur Reported Safety Concerns (RSCs), near miss reporting
reactors from Thyssenkrupp Industrial Solutions, guidance and support
Haryana Anu Vidyut Pariyojana (GHAVP) 1 & 2 – and ’reactive’ indicators – dangerous occurrences,
a VAM reactor from Sheng Hong, China and an - The Quality at Root initiative was embarked lost-time injuries and fatalities. The business
project in 36 months (12 months in advance) and
ethylene oxide reactor from Sibur, Russia upon by the business to reduce the cycle time of launched a major initiative, the Behavior Based Safety
also dispatched three Ti steam generators for
- Ensured uninterrupted customer supplies manufacturing by eliminating duplicate activities programme (BBS) to internalise the concept of a safe
ATVP (three months in advance of the schedule)
throughout the pandemic year by dispatch of - The business was named the ‘Most Digitally workplace as a core value.
- LTSSHF JV has received orders for the supply of
four ARDS reactors to Takreer, Abu Dhabi; four Enabled Manufacturing Plant in L&T’ amongst
steam generator forgings for six units, end shield The business team achieved 3,207,932 safe man
coke drums to DUQM, Oman; two EO reactors non-construction businesses. Initiatives include
plates for four units and forgings for pressuriser hours in last year. During the year, 49 webinars on
to Lianyungang, China and the ITER top lid IOT-enabled smart welding stations in welding and
and bleed cooler for four units, to be set up in various safety modules were organised by the Safety
assemblies to France overlay operations
fleet mode. In the Defence sector, the JV has Innovation School, Hazira.
been certified as the only indigenous producer of - Digitalisation in office areas includes automation of
large and heavy forgings and thick plates for the design & procurement, supply chain management Human Resources
prestigious submarine programs and estimation system. Other digital initiatives
such as virtual 3D layout simulation and Digi-Eye The business was quick in adopting digital platforms
– for real-time project progress monitoring were for use during the lockdown period to upskill
undertaken the talent pool. It effectively utilised Facebook at
Workplace to keep employees engaged during
- In the MRU area, the digital initiatives include coke
lockdowns and reduce pandemic fatigue. ‘Baatcheet’
drum life cycle management using IOT stations,
sessions were organised to strengthen connect and
remote safety surveillance using IOT cameras,
communication with female employees. Digitalisation
remote welding monitoring, manpower tracking
of the entire talent acquisition processes – from
in confined spaces, detection of hazardous gases
sourcing to hiring and onboarding to placement –
in confined spaces, VR bases execution and
was implemented, resulting in process efficiencies,
safety training
and realising virtual hiring. Cultural transformation
programmes, designed with the help of internal and
external experts, focus on driving the culture of Seven
32 Million+
Core Values, i.e. Safety, Quality, Customer‑centricity,
Trust, Transparency, Action Orientation and
Boundaryless Team. The ‘Abhivyakti’ platform is used
Safe man-hours achieved in FY21 for regular interaction with young engineers.
LC-Max Reactor
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Business Review
MAJOR ACHIEVEMENTS
Defence - New benchmarks set up by work centres in

terms of deliveries of OPVs, K9 Vajra-T and
Combat Engineering Systems, to name few,
- Delivery of three interceptor boats to the Indian
Coast Guard, all ahead of contracted schedule,
completing the contract of 54 Nos. Delivered
and maintenance of safety operations aided by OPV-6 to the Indian Coast Guard. With this, L&T-
digitalisation and automation built Coast Guard Vessels account for ~40% of
L&T has been associated with the Defence
- Delivery of 45 K9 Vajra-T self-propelled howitzers Indian Coast Guard’s operational fleet.
Research and Development Organisation
(DRDO) and Naval Indigenisation programmes during the year and completing the contract for - The R&D and Design and Engineering teams
since the ‘80s, much before the sector was 100 Nos. All the howitzers were delivered ahead have developed a range of new technologies,
opened for private participation. of schedule with zero non‑conformities products and solutions with a focus on emerging
Its integrated portfolio comprises - Successful delivery of multiple land and naval technologies, such as unmanned systems across
technologies, products, systems, platforms weapon launch systems, engineering systems domains, Augmented reality (AR) and Virtual
and solutions. L&T Defence today offers and missile systems to the Indian Armed forces Reality (VR), emphasising on the uniqueness of
solutions across the project lifecycle. offerings, innovation and presence across the
value chain.
The business does not manufacture any
explosives or ammunition of any kind,
including cluster munitions or anti-personnel
landmines or nuclear weapons. The business
also does not customise any delivery systems Significant Initiatives It has achieved significant y-o-y reduction in
water and energy consumption, in line with L&T’s
for such munitions. The business has identified and signed MoUs/ sustainability focus.
agreements with strategic partners to enhance
business opportunities both in domestic and The Shipbuilding team has received the prestigious
international markets. The business continues to Award of Honour 2021 from National Safety Council
invest in R&D to develop new-age technologies of India, Tamil Nadu Chapter. The Coimbatore facility
and products such as unmanned systems (all four excelled in very high percentage usage (>80%) of
domains), robotics, additive manufacturing and green energy in operations.
Artificial Intelligence.
Human Resources
It has been building a strong position in digital design
since the mid-90s and has attained proficiency in the The HR initiatives have been aligned to identify and
elements of Industry 4.0 in its multiple R&D, Design groom high-potential talent, critical for maintaining a
& Engineering centres and Production work centres competitive advantage, through various management
that extend from equipment and systems to the and technology leadership programmes. The business
building of complete platforms, such as warships and has implemented unique initiatives, such as Lead Next
submarines. and D-mentors, for the young talent at the middle
management level. Attention to leadership and talent
The business resorted to digital inspection for the development continues as a business imperative.
first time and institutionalised the same in the
Indian defence industry to overcome the pandemic The business has also received the HR SCORE Award
challenges. To achieve business continuity and meet 2021 conferred by FICCI in association with IIM,
key deadlines, innovative digital technologies and Trichy. Further, with renewed emphasis, the business
processes were adopted to provide through life has embarked upon employee engagement initiatives
support, training, digital Quality Assurance, trial to retain and grow talent and continue to be an
evaluation and acceptance. employer of choice.
Change in Segment Reporting

The Military Communication Business of Defence
The safety track record across work centres, customer
Engineering Segment has been transferred with
locations, and business partners’ premises continued
effect from April 1, 2020 to Smart World and
to be exemplary. The business implemented RFID-
Communication business and reclassified to the
based tracking especially in confined spaces e.g.
‘Others Segment’.
submarines and warships, as well as tagging of assets
Modular Bridging System for online tracking and workmen tracking.
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Business Review
Significant Initiatives Environment, Health and Safety
Hydrocarbon - LTHE has taken a three-pronged approach to

better handle the COVID-19 pandemic together
with many business challenges, such as oil price
LTHE had taken preventive control measures to
overcome the effect of COVID-19 and safely delivered
more than 32 Million man-hours at a stretch across
Engineering volatility, reduced investment cycle, energy transition.

Christened the PIO (Protect-Innovate-Opportunise)
programmes – there are three pillars to sustain long-
various projects in domestic and international markets,
including the modular fabrication yards.
For effective implementation of the HSE management
term growth initiatives and identified as ‘SHIELD’,
system uniformly across the business verticals and
‘DREAMS’ and ‘DHOW’.
L&T Hydrocarbon Engineering Limited (LTHE) strengthening the safety culture, LTHE consolidated all its
- Programme ‘SHIELD’ is aimed at protecting the operations under a single ISO Certification for ISO 14001
is a wholly-owned subsidiary of L&T and
existing business, prioritising its products and services and 45001.
provides integrated ‘design-to-build’ turnkey
currently on offer and identifying products and
solutions for the hydrocarbon industry The digital platform is used to facilitate online incident
services that can be quickly developed and scaled to
globally. reporting and investigation, pilot electronic permit to work
satisfy the transforming market. It aims to attract new
customers and geographies with innovative ideas and at four locations and remote HSE assurance audit.
deep focus on stepping-up the business development To strengthen compliance to the HSE system and raise
activities, and developing localisation plans in the awareness, LTHE conducted management walkthroughs,
countries which are core to LTHE’s growth agenda by both virtual and physical, to emphasise monitoring
offering smart solutions. performance at fabrication yards and project sites, HSE
- Programme ‘DREAMS’ focuses on efficiency and audit reporting, mock drills, safety meetings, continuous
speed in operations. The most significant action training in HSE practices and webinars.
under DREAMS is the initiative called SESA (Simplify,
Eliminate, Standardise and Automate) which drives Human Resources
digital solutions, productivity enhancement measures
L&T Hydrocarbon Engineering focuses on acquiring and
at fabrication yards and construction sites and
grooming a unique and diverse set of talent, with the
knowledge management and capability development.
right attitude.
- LTHE continues to focus on Smart Collaboration &
Augmented Reality, Industrial Internet of Things, LTHE has initiated a career planning architecture for
Enterprise-wide Project Lifecycle Management the sustainable growth of its employees, with more
program (EPSILON) and Predictive Analytics to emphasis on the top talent. Specific programmes for
enhance efficiency in operations. Resident Construction Managers (RCM) and Young
Fabrication Professionals (YFP) are designed to develop
- It has embraced the culture of productivity and
construction and yard professionals. As a commitment
quality enhancement at yards as well as construction
to create a highly engaged workforce, LTHE actively
sites. These include automated welding, extensive
communicates through multiple forums such as Town
use of jigs and fixtures as well as assembly line
Hall sessions and Fireside chats. LTHE always tries to
concept, full kitting, and serial production technique
inculcate a culture of appreciation through various
for fabricating multiple jackets concurrently, which
reward and recognition interventions. The ‘I-TOO’
helped in the fabrication of a jacket in a record time
recognition framework, annual ICONS, Long Service
of just 98 days at the Sohar Fabrication Facility.
Awards, Talent Champions, counselling and well-being
- As part of improving safety and productivity, LTHE support, and a bouquet of custom-designed calendared
is maximising work on the ground rather than at a interventions are cascaded across the organisation to the
height for the fabrication of modules. To address most remote sites with the aim of enhancing employee
construction challenges for onshore projects that are motivation. LTHE is committed to improve the gender
at remote locations or at congested plants, LTHE is balance across all functions and levels.
maximising the modularisation at yards.
As the COVID-19 pandemic brought uncertainties
- Programme ‘DHOW’ focuses on transforming the
and extra stress in both personal and professional
organisation to attract clients to support their efforts
lives of employees, LTHE engaged with employees at
in the upcoming energy transition in areas such as
various levels by frequent interventions from senior
green hydrogen, decarbonisation, biofuels and the
leadership the CEO and across leadership strata to
circular economy. Digitally-enabled O&M is also
ensure engagement. LTHE ensured medical assistance
identified as an adjacency to its existing business
on 24x7 basis by arranging for doctors and ambulances
capability to be one of the future growth engines.
for about 25,000 staff and workmen. Also, LTHE
- LTHE is also actively engaging with various R&D made arrangements in co-ordination with Government
Centres and start-up companies to develop emerging departments and embassies to evacuate employees
Fully Integrated Gas platform installed for Saudi Aramco project (CBMC) technologies and create differentiated solutions. stranded in foreign countries.
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Business Review
MAJOR ACHIEVEMENTS
L&T Valves - Kuwait Oil Company’s 11 pattern

project from SHBC
- Mabrouk North East Development
Leveraging six decades of manufacturing Project from Petrofac
excellence, L&T Valves serves key sectors - Kandla Gorakhpur Pipeline Project
nationally and internationally. The business from IHB (JV of IOCL, HPCL and BPCL)
offers products for oil & gas, defence, nuclear - Remotely-operated shut-off valves,
and aerospace, power, petrochemicals, tank farm terminals, IOCL
chemicals, water and pharmaceuticals across
- Hawiyah Unayzah Gas Reservoir
the globe.
Storage Project from ARAMCO
The vast product portfolio includes gate,
globe, check, ball, butterfly, plug and control
valves, as well as automation solutions.
The business also runs a global after-market
business to support its installed base with
service and spares.
Significant Initiatives Human Resources

- Taskforce formed for liquidation of overdue orders Employee health, well-being and safety were
and improved on-time delivery priorities, along with training and development during
- Introduction of lean concepts to improve machine this year. The business has evolved its competency
utilisation and productivity building programmes and focused on soft skills and
leadership development.
- Vendor consolidation in casting supplies to
implement kitting strategy plan Various engagement initiatives were undertaken
- Vendor development for special castings and gear during the lockdown to motivate the employees and
box to realise cost benefits maintain a healthy work-life balance when they were
in remote working mode. The change-management
- Geographical diversification of supply chain with
flagship programme ‘DISHA’ strives to make the
focus on cost and quality
organisation a better place to work in and improve
the effectiveness of the employees at the workplace.
Environment, Health and Safety Developmental initiatives through training, mentoring
The business has successfully implemented initiatives and coaching programmes were organised to upskill
in health, safety and environment, continuing to high-potential employees.
achieve a ‘zero man-days lost’ record during the year.
- Tree plantation drive at Coimbatore plant and 100
trees planted in the plant area
- Reduction of water consumption in the plant by
utilising biologically-treated domestic waste-water
for gardening
Cryogenic Valves
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Business Review
MAJOR ACHIEVEMENTS
L&T Realty - Launched new phase at Seawoods

Residences in November ’20 and sold
over 80% of the inventory
Human Resources
Appropriate measures were taken during business
resumption to ensure employees’ health and safety
- Workplace merges with home, large-size within the site and at the office premises. The
L&T remains one of the renowned real units gained momentum. Traction is seen business makes every effort to generate a never-
estate players. L&T’s edge is derived from in large format premium units in Crescent ending desire to collaborate, learn and build a
a mix of out-of-the-box designs, advanced Bay, Parel, placing the business amongst talent pool to stay relevant to customers’ needs
technologies and industry leading project the most-sold projects in the premium at all times. The business is focused on creating a
management. South Mumbai market young and vibrant organisation. With emphasis on
- Completion of an iconic digitally gender diversity, L&T Realty has one of the highest
advanced office space tower percentage of women employees in the Indian real
- Completed sale of commercial space estate sector.
through transactions with Blackstone The Company has been providing avenues for
Group and Max Life capability building and continuous learning, and
this year the business clocked 7,552 man-hours of
dedicated personnel training.
Crescent Bay, Mumbai L&T Innovative Campus, Chennai
198 199
Awards
Corporate Water & Effluent Treatment (WET) L&T Hydrocarbon Engineering Limited Defence
I. L&T was conferred the prestigious HR Excellence I. AEC Excellence Award from Autodesk for an advanced I. Ranked second among the top 30 EPC I. Teams from L&T Defence Won Gold Trophy-
Award by The Economic Times’ HRWorld. water treatment plant at Chandrawal, Delhi. Contractors by the Oil & Gas Middle East Highest Category Award and one ‘Best of Best’
magazine. Award In the state level Chapter Convention on
II. L&T’s Integrated Report has been declared a II. Received 15 awards from Construction Industry
Quality Concepts (CCQC 2020-21).
winner in the Best Integrated Report category by Development Council under the categories of II. Received the ‘EPC-Company of the Year’ award
the Social and Business Enterprise Responsible Corona Warriors and EHS Implementation. by Federation of Indian Petroleum Industry (FIPI). II. L&T Defence Teams won Par-Excellence,
Awards (SABERA), supported by Grant Excellence and Distinguished Awards in National
III. Received 12 Awards from British Safety
Thornton Bharat.
Council and 11 CII Awards for Safety, Health
Power Convention on Quality Concepts (NCQC 2020-21).
III. L&T was conferred the prestigious CSR Shining and Environment. I. Special award for Best Safety Practice received III. L&T Defence received ‘Special Award’ from The
Star Award in the ‘Skills’ category by Wockhardt from NTPC by Tandasite. Southern Gujarat Chamber of Commerce &
IV. Received 10 Water Digest Awards including Best
Foundation. Industry (SGCCI), Golden Jubilee Memorial Trust.
Water Company and Best Complete Domestic II. Client Project Safety Award received from NPCIL
Water Solutions provider. by RAPP, Kotasite for FY20. IV. L&T Defence secured Innovative Digital Award
Business & Factories (B&F) 2020 in Vizag on Dynamic Weight Measurement
III. Won 8th FICCI Quality System Excellence Award
I. Narendra Modi Cricket Stadium, Motera was Power Transmission & Distribution for Quality System Excellence in Construction.
of Marine Platform.
declared the Overall Excellence Award Winner
I. Power transmission & distribution projects
(First Place) by ACI India Chapter in Infrastructure
in KSA and UAE bagged four Middle East
IV. Won CII Customer Obsession Award 2020 for Realty
Category. Customer Centricity.
Economic Digest (MEED) awards in different I. Winner of ‘Swatch Bharat Mission’ by Navi
II. GCA Cricket Stadium, Motera received ‘ICI- categories. Received the Dossier Award for the Mumbai Municipal Corporation for Seawoods
Outstanding Concrete structure Award 2020’. Best Contractor for Infrastructure Projects for the
Heavy Engineering Residences.
400/132 kV Al Qabel project. I. Mr. Pemmaraju Raghavendra has been accorded
III. Emerald Isle Phase-2 project declared Best II. Royal Society for the Prevention of Accidents
with National NDT Award for ‘International
Residential Luxury Project of the Year at ET NOW II. The transmission line tower manufacturing facility (ROSPA) Gold award for Emerald Isle, Powai and
Recognition in the field of NDT’ by Indian Society
Real Estate Awards 2020. at Kancheepuram won the DL Shah Quality AM Naik Tower.
for Non-Destructive Testing (ISNT) at National
Award, the Quality System Excellence Award from
IV. AIIMS, Gorakhpur was awarded by ICI (Varanasi) NDE conference. III. Raintree Boulevard Project received Birla
FICCI and the EHS Excellence Award from CII
- Ultratech Outstanding Concrete structure Award Super Endowment award presented by ICI
Southern Region. II. Won three Awards in Gujarat Rajya Shram
2020 for Best Architect and Structural Engineers. (Bengaluru Centre).
Purashkar.
III. The transmission line tower factory at Pithampur
V. Wipro IT SEZ Project, Bengaluru was awarded
‘ACI Excellence in Concrete Construction
was awarded the Golden Peacock Award for III. Two Anubhuti teams from Hazira won Awards at Heavy Civil Infrastructure
Occupational Health & Safety performance. Surat Chapter’s Virtual e-Convention on Quality
Awards 2020’. I. ICI ‘Outstanding Concrete Structure of
Circles and Other Allied Quality Concepts.
IV. Our 11 projects emerged as winners, each for Telangana-2020’ Award for Durgam Cheruvu.
VI. Prestige Song of the South Project, Bengaluru
National Safety Council of India Awards 2020 and IV. The Southern Gujarat Chamber of Commerce
won the ‘ACI Excellence in Concrete Construction II. KAPP 3 & 4 - Excellence in Concrete Construction
British Safety Council International Awards 2021. and Industry (SGCCI) has awarded L&T Heavy
Awards 2020’. Award Infrastructure 2020 - Indian Chapter
Engineering, Hazira for outstanding contribution
of ACI.
VII. Prestige Song of the South Project, Bengaluru Smart World & Communication in Productivity, Safety and Quality Improvements.
won the ‘ACCE (I) BILLIMORIA AWARD-
I. Received the Golden Peacock Award 2020
Excellence in Construction in High Rise Category’.
for Innovation in recognition of the Artificial
VIII. FORD Global Technology and Business Centre was Intelligence based Crowd Management solution
awarded Best Use of Technology and Best Project implemented in Prayagraj Smart City.
Management by The Estatesmen.
II. Nagpur Smart City Communications Technologies
IX. FORD Global Technology & Business Centre has and Physical Security bagged FICCI Smart Urban
been awarded Best Architect – Shared spaces/Co Innovation Award.
working/Co living award by The Estatesmen.
III. Two RoSPA Gold Awards for Telecommunication
Systems for Gujarat Metro Rail Corporation
Limited and Allahabad Smart City.
IV. Positioned as a runner up for ISGF Innovation
Awards 2021.
V. Won Digital Award 2020 in SWC BU for
developing NMS-Incident Management System.
200 201
Sustainability Development
Goals (SDGs)
SDGs define global priorities and aspirations for 2030, with objectives to achieve conservation and ecological
balance.
The following demonstrate our alignment with SDGs and our initiatives towards climate change mitigation,
environmental conservation and corporate social responsibility.
Goals Initiatives Page number(s) Goals Initiatives Page number(s)
- Skilling programmes for youth and migrant labour enables higher wage PAGE 123-143 - School infrastructure development for creating conducive learning PAGE 123-143
earning capacity environment, including construction of school sanitation facilities
- Vocational, life-skills training and job placements for skilled youth, women - Making schools accessible by providing bicycles for students staying in
End poverty in all its and differently abled Ensure inclusive and remote tribal areas
forms quality education, and - Technology enabled education (e-learning facilities) in Government
- Encouraging entrepreneurship among youth, women and differently
promote lifelong learning schools
abled through training and promoting Self Help Groups (SHG)
opportunities for all
- Increased agricultural income and multi-cropping due to water adequacy - Miniature science centres and laboratories to develop interest in scientific
subjects
- Created agro-based livelihood, increasing household incomes
- Introducing and strengthening STEM (Science, Technology, Engineering
- Formation of farmer groups and market linkages for better crop prices
and Math) Education programme in Government schools to unlock
- Training communities in better nutrition practices PAGE 123-143 scientific and technological potential of children and encourage their
curiosity, scientific vigour and creativity
- Encouraging families to grow and use vegetables from kitchen gardens
- Teacher training programme to impart effective pedagogy
and revival of traditional foods including millets
End hunger, achieve
- Enhancing curriculum and impacting classroom learning through
food security, improve - Encouraging sustainable agricultural practices by use of zero budget
nurturing talent
nutrition and sustainable natural farming, drip irrigation, indigenous pesticides, seed treatment,
agriculture balanced dose of fertilisers, discouraging plantation of water-intensive - Promoting girl child education
crops, and introducing horticulture through farm field schools and - Life skills and extra-curricular activities for overall development of
demonstrations students
- Nutrition awareness campaign and counselling for women, pre-school - Community-based learning centres with parent involvement to prevent
teachers and school children from the community dropouts and prepare children for board exams
- Addressing malnutrition among children by providing services related to - Specific interventions to integrate children at risk of dropping out and out
Prevention, education to mothers, early detection and treatment in ICDP of school children into school
areas
- Prepare indigenous students for admission to various public schools
- Daily distribution of multi-vitamins/milk at Anganwadis/schools
- Mitigating digital divide by either providing the gadgets to the
- Livestock management and training in dairy and poultry business underprivileged children or visiting students at their homes to provide
- Provide food and ration in disasters and crisis situations study material in print form
- Multi-specialty community health centres providing access to maternal, PAGE 123-143

family welfare, paediatric and general healthcare
- Health centres offering mental health services, child guidance clinic and
Ensure healthy lives and counselling
promote wellbeing of - Mobile health vans and camps for school children, women and elderly
people from underprivileged communities
of all ages
- Health awareness for adolescents
- Care and counselling programmes for differently-abled children
- Blood donation camps
- Training of frontline healthcare workers
- Infrastructure support to Anganwadis, PHCs and hospitals
- Integration with national health programmes
- Health infrastructure strengthening during COVID-19
- Welfare teams at the workplace
202 GRI Disclosure 102-12 GRI Disclosure 102-12 203

Sustainability Development Goals (SDGs)
Goals Initiatives Page number(s) Goals Initiatives Page number(s)
- Making water available at the doorstep and drudgery reduction activities PAGE 123-143 - Embolden automation with focus on application for patents/Intellectual PAGE 18, 51, 64,
- Awareness on women’s health and menstrual hygiene Property Rights (IPR) to inspire innovation 71, 95, 143
- Toilet facilities in schools for girls - Resilient infrastructure creation and sustainable industrialisation for our
Achieve gender equality Build resilient clients, through our offerings – green products and service portfolio
- Motivate parents to encourage girls to participate in STEM activities and
and empower all women infrastructure, promote - Focus on ‘Make in India’ initiatives to create employment opportunities
exposure visits
and girls inclusive and sustainable and import substitution
- Creating livelihood opportunities and encouraging entrepreneurship industrialisation and
among women through skill development, vocational training programs foster innovation
and market linkages
- Merit-based hiring with emphasis on equal opportunities PAGE 115-116,
- Formation of women’s Self-help Groups (SHGs), ensuring participation 124-127
- Established policies to empower employees irrespective of gender, age,
and decision making in development and school management
disability, race and religion
committees across villages
Reduce inequality within - Encouraging participation of vulnerable groups like women and the
- Increasing women employees in the organisation and among countries deprived, in rural development committees of developmental projects
- Achieving water adequacy for drinking, sanitation and agriculture through PAGE 123-143
supported
watershed projects, as part of Integrated Community Development (ICD) - Fairness in distribution of resources within villages under ICDP to circulate
programmes the benefit to the most needy and vulnerable in the community
Ensure availability - Supplementing water bodies to increase ground water level with - Prioritise needs of marginal and poor farmers in rural development
and sustainable water participation from communities programmes
management and - Constructing water harvesting structures with contribution from the
sanitation for all - Create comprehensive and smart technology solutions for critical PAGE 30, 71, 79, 109
community and ensuring their maintenance
infrastructure, spanning airports, power plants, metro rails and IT parks
- Developing community-based groups like Village Development Committees,
- Offer specialised turnkey GIS-based network management solutions for
Farmers groups for maintaining the water structures, judicial use of common
Make cities and human city surveillance, traffic monitoring and analysis
water resources and ensuring the villages remain open defecation free
settlements inclusive, - Road barriers and guards to control traffic areas at project sites, especially
- Demonstration of rainwater harvesting system in schools and households safe, resilient and busy junctions in the city, along with road safety awareness campaigns
- Training farmer groups in water estimation and budgeting, and to sustainable
- Garden maintenance in cities and flood relief interventions
measure water levels and in GIS based water management
- ICD programme for water-stressed rural settlements
- Sanitation awareness campaigns followed with construction of Household
toilets and school toilets, to make rural India open defecation-free - Implement material conservation initiatives, energy efficiency PAGE 58-69
- Supporting Swachh Bharat Abhiyan advancement projects and sustainable production practices
- Our cumulative energy conservation over the years is more than 128 Mn
- Providing solar lamps to the underprivileged communities and off-grid PAGE 51, 58-60, Ensure sustainable KWH.
solar system with back-up for communities and schools 64, 71
consumption and - We proactively utilise Fly Ash, Granular Blast Furnace Slag and Crushed
- Increasing renewable energy use within campuses and project sites production patterns sand in our construction projects and recycled steel and zinc wherever
Ensure access to - Green products and services portfolio for customers permissible.
affordable, reliable,
- Demonstration of solar agricultural fences in villages - Discouraging plantation of water-intensive crops encouraging use of
sustainable energy
for all - Demonstration of bio-gas plants indigenous pesticides, seed treatment, balanced dose of fertilisers
- Multi cropping among farmers on the increase
- Employable skill training and placements for youth from underprivileged PAGE 111, 125
communities, physically and mentally challenged persons
- Construction Skills Training Institutes for skilling youth
Promote inclusive and - Transform fresh ITI candidates to multi-skilled workers
sustainable economic
- Skilling youth through training institutes
growth, full and
productive employment - Certified computer courses for students
and decent work for all - Television and digital media workshops for youth empowerment
- Empowering workforce through learning, development and welfare initiatives
- Training rural youth in ethno-veterinary care and Natural Resource
Management

Sustainability Development Goals (SDGs) GRI Content Index

Goals Initiatives Page number(s) This report has been prepared in accordance with the GRI Standards
- Climate change mitigation and adaptation initiatives: GHG intensity PAGE 58-69 ‘Comprehensive’ option.
reduction projects, promoting the use of renewable energy, green
buildings and tree plantation Page Numbers/ Reason for
GRI Standard Disclosure Description
Reference Link Omission
Take urgent action to - Measurable targets for reducing energy and carbon intensity
GRI 101: FOUNDATION 2016
combat climate change - Carbon footprint mapping at the organisational level
and its impacts GRI 102: GENERAL DISCLOSURES 2016
- Discourage overexploitation of ground water
ORGANISATIONAL 102-1 Name of the organisation 6
- Alignment with National Action Plan on Climate Change (NAPCC), PROFILE 102-2 Activities, brands, products, and services 6, 8-15
Government of India
102-3 Location of headquarters Back Cover
- Evaluate business process risk to ensure that negative impacts are PAGE 62, 67, 102-4 Location of operations 14-15
avoided/minimised/controlled 127-131 102-5 Ownership and legal form 6, 158
102-6 Markets served 14-15
Conserve the oceans, seas 102-7 Scale of the organisation 8-13, 111, 146
and marine resources for
102-8 Information on employees and other workers 111
sustainable development
102-9 Supply chain 35, 124, 142
- Building soil conservation to prevent soil erosion in the ICD Programme PAGE 62, 65, 127, 102-10 Significant changes to the organisation and its 14-15
- Village level committee to regulate the use of common resources 131, 176 supply chain
- Rainwater harvesting in schools and households 102-11 Precautionary Principle or approach 45, 160
Protect, restore and 102-12 External initiatives 202-206
- Lake clean-up and reserve forest clean-up drives alongside de-silting of
promote sustainable use 102-13 Membership of associations Annual Report 41
water bodies
of terrestrial ecosystems,
STRATEGY 102-14 Statement from senior decision-maker 4-5, 20-29
manage forests, combat - Planted 800,000+ saplings in FY21 and many fully-grown trees are
nurtured across major campuses 102-15 Key impacts, risks, and opportunities 42-45
desertification, and halt
land degradation and ETHICS AND 102-16 Values, principles, standards, and norms of 6-7, 158-165
- Sustaining Miyawaki forests in 6 Locations with 65,000+ saplings INTEGRITY behavior
biodiversity loss
- In-house guidelines on scientific tree plantation and maintenance 102-17 Mechanisms for advice and concerns about ethics 160-165
- Felicitation of guests with a Tree Certificate, instead of a floral bouquet GOVERNANCE 102-18 Governance structure 158, 166-167
102-19 Delegating authority 166-167
- Optimising the use of natural resources
- Afforestation by creating fast growing sustainable forest 102-20 Executive-level responsibility for economic, 159
environmental, and social topics
- Village level committee and democratic process formulated for PAGE 34-36 102-21 Consulting stakeholders on economic, 34-36
maintenance, usage and monitoring the sustainability of ICDP environmental, and social topics
interventions 102-22 Composition of the highest governance body and 158-159
Promote peaceful and - Encourage democratic functioning and financial transparency in conduct its committees
inclusive societies for of SHG business 102-23 Chair of the highest governance body 158, 166-167
sustainable development, - Associating with industry forums like: 102-24 Nominating and selecting the highest governance 161,
provide access to justice body Annual Report 105-107
• Confederation of Indian Industry – Centre of Excellence for Sustainable
for all and build effective 102-25 Conflicts of interest 158-165
Development (CII-CESD)
as well as accountable 102-26 Role of highest governance body in setting 158
institutions at all levels • CII – Green Business Centre (GBC) and Government bodies for purpose, values, and strategy
promoting sustainable development 102-27 Collective knowledge of highest governance 116
- Collaboration and partnership with state and national Governments, body
PAGE 122-133,
NGOs and ITIs. 160, 207-214 102-28 Evaluating the highest governance body’s 161
performance
- In keeping with the United Nations Global Compact, and following
Strengthen the means 102-29 Identifying and managing economic, 34-39, 42-45, 159
GRI Sustainability Reporting Standards
environmental, and social impacts
of implementation - Sharing best practices with stakeholders 102-30 Effectiveness of risk management processes 42-45
and revitalise global
associations for
sustainable development For the GRI Content Index Service, GRI Services reviewed that the GRI content index is clearly presented and the references for all disclosures
included align with the appropriate sections in the body of the report.

GRI Content Index
Page Numbers/ Reason for Page Numbers/ Reason for

GRI Standard Disclosure Description GRI Standard Disclosure Description
Reference Link Omission Reference Link Omission
GOVERNANCE 102-31 Review of economic, environmental, and social 159 GRI 103: 103-1 Explanation of the material topic and its 124-125
topics MANAGEMENT Boundary
102-32 Highest governance body’s role in sustainability 159 APPROACH 2016 103-2 The management approach and its components 124-125
reporting 103-3 Evaluation of the management approach 124-125
102-33 Communicating critical concerns 158-160,165 GRI 203: INDIRECT 203-1 Infrastructure investments and services supported 124-143
102-34 Nature and total number of critical concerns 34-35 ECONOMIC 203-2 Significant indirect economic impacts 124-143
102-35 Remuneration policies Annual Report 105-107 IMPACTS 2016
102-36 Process for determining remuneration Annual Report 105-107 GRI 103: 103-1 Explanation of the material topic and its 142, 146-149
MANAGEMENT Boundary
102-37 Stakeholders’ involvement in remuneration Annual Report 106-107 APPROACH 2016 103-2 The management approach and its components 142, 146-149
102-38 Annual total compensation ratio Annual Report 144-145
103-3 Evaluation of the management approach 142, 146-149
102-39 Percentage increase in annual total compensation Annual Report 145
ratio GRI 204: 204-1 Proportion of spending on local suppliers 142, 146-149
PROCUREMENT
STAKEHOLDER 102-40 List of stakeholder groups 34-36 PRACTICES 2016
ENGAGEMENT 102-41 Collective bargaining agreements 110-116,
GRI 103: 103-1 Explanation of the material topic and its 160
Annual Report 34 MANAGEMENT Boundary
102-42 Identifying and selecting stakeholders 34-36 APPROACH 2016 103-2 The management approach and its components 160
102-43 Approach to stakeholder engagement 34-36 103-3 Evaluation of the management approach 160
102-44 Key topics and concerns raised 34-36 GRI 205: ANTI- 205-1 Operations assessed for risks related to 160,
REPORTING 102-45 Entities included in the consolidated financial 2-3, 145 CORRUPTION corruption Annual Report 32-33
PRACTICE statements 2016 205-2 Communication and training about anti- Annual Report
102-46 Defining report content and topic Boundaries 2-3 corruption policies and procedures 32-33
102-47 List of material topics 2-3 205-3 Confirmed incidents of corruption and actions Annual Report
102-48 Restatements of information 2-3 taken 32-33
102-49 Changes in reporting 2-3 GRI 103: 103-1 Explanation of the material topic and its 160
MANAGEMENT Boundary
102-50 Reporting period 2-3 APPROACH 2016 103-2 The management approach and its components 160
102-51 Date of most recent report 2-3
103-3 Evaluation of the management approach 160
102-52 Reporting cycle 2-3
GRI 206: ANTI- 206-1 Legal actions for anti-competitive behavior, anti- 160,
102-53 Contact point for questions regarding the report 2-3 COMPETITIVE trust, and monopoly practices Annual Report 48-49
102-54 Claims of reporting in accordance with the GRI 2 BEHAVIOR 2016
Standards GRI 300: ENVIRONMENT
102-55 GRI content index 207-214 GRI 103: 103-1 Explanation of the material topic and its 63
102-56 External assurance 215-219 MANAGEMENT Boundary
GRI 200: ECONOMIC APPROACH 2016 103-2 The management approach and its components 63
GRI 103: 103-1 Explanation of the material topic and its 144 103-3 Evaluation of the management approach 63
MANAGEMENT Boundary GRI 301: MATERIALS 301-1 Materials used by weight or volume 63
APPROACH 2016 103-2 The management approach and its components 144 2016 301-2 Recycled input materials 63
103-3 Evaluation of the management approach 144 301-3 Reclaimed products and their packaging materials - Not
GRI 201: ECONOMIC 201-1 Direct economic value generated and distributed 146-157 applicable;
PERFORMANCE since
201-2 Financial implications and other risks and 45
2016 we are a
opportunities due to climate change
technology
201-3 Defined benefit plan obligations and other 148 and
retirement plans engineering
201-4 Financial assistance received from government 149 company,
there are no
packaging
or product
recall
related
issues

GRI Content Index

GRI 103: 103-1 Explanation of the material topic and its 59-60 GRI 103: 103-1 Explanation of the material topic and its 62
MANAGEMENT Boundary MANAGEMENT Boundary
APPROACH 2016 103-2 The management approach and its components 59-60 APPROACH 2016 103-2 The management approach and its components 62
103-3 Evaluation of the management approach 59-60 103-3 Evaluation of the management approach 62
GRI 302: ENERGY 302-1 Energy consumption within the organisation 59 GRI 306: EFFLUENTS 306-1 Waste generation and significant waste-related 62-63
2016 302-2 Energy consumption outside of the organisation 59 AND WASTE 2016 impacts
302-3 Energy intensity 60 306-2 Waste by type and disposal method 62-63
302-4 Reduction of energy consumption 60 306-3 Significant spills 62-63
302-5 Reductions in energy requirements of products 60 306-4 Transport of hazardous waste 62-63
and services 306-5 Waste directed to disposal 62-63
GRI 103: 103-1 Explanation of the material topic and its 62 GRI 103: 103-1 Explanation of the material topic and its 63
APPROACH 2016 103-2 The management approach and its components 62 APPROACH 2016 103-2 The management approach and its components 63
103-3 Evaluation of the management approach 62 103-3 Evaluation of the management approach 63
GRI 303: WATER 303-1 Interactions with water as a shared resource 62 GRI 307: 307-1 Non-compliance with environmental laws and 63
AND EFFLUENTS 303-2 Management of water discharge-related impacts 62 ENVIRONMENTAL regulations
2018 COMPLIANCE 2016
303-3 Water withdrawal 62
303-4 Water discharge 62 MANAGEMENT Boundary
303-5 Water consumption 62 APPROACH 2016 103-2 The management approach and its components 142
GRI 103: 103-1 Explanation of the material topic and its 65 103-3 Evaluation of the management approach 142
MANAGEMENT Boundary
APPROACH 2016 GRI 308: SUPPLIER 308-1 New suppliers that were screened using 142
103-2 The management approach and its components 65 ENVIRONMENTAL environmental criteria
103-3 Evaluation of the management approach 65 ASSESSMENT 308-2 Negative environmental impacts in the supply No negative impacts
GRI 304: 304-1 Operational sites owned, leased, managed in, 65, 68-69 2016 chain and actions taken came to notice in
BIODIVERSITY or adjacent to, protected areas and areas of high 2019-20
2016 biodiversity value outside protected areas GRI 400: SOCIAL
GRI 103: 103-1 Explanation of the material topic and its 112-121
304-2 Significant impacts of activities, products, and 65, 68-69 MANAGEMENT Boundary
services on biodiversity APPROACH 2016 103-2 The management approach and its components 112-121
304-3 Habitats protected or restored 65, 68-69
103-3 Evaluation of the management approach 112-121
304-4 IUCN Red List species and national conservation 65, 68-69
list species with habitats in areas affected by GRI 401: 401-1 New employee hires and employee turnover 116
operations EMPLOYMENT 2016 401-2 Benefits provided to full-time employees that 112-121
GRI 103: 103-1 Explanation of the material topic and its 61 are not provided to temporary or part-time
MANAGEMENT Boundary employees
APPROACH 2016 103-2 The management approach and its components 61 401-3 Parental leave 116
103-3 Evaluation of the management approach 61 GRI 103: 103-1 Explanation of the material topic and its 110-121
MANAGEMENT Boundary
GRI 305: EMISSIONS 305-1 Direct (Scope 1) GHG emissions 61 APPROACH 2016
2016 103-2 The management approach and its components 110-121
305-2 Energy indirect (Scope 2) GHG emissions 61
305-3 Other indirect (Scope 3) GHG emissions 61
GRI 402: LABOR/ 402-1 Minimum notice periods regarding operational 110-121
305-4 GHG emissions intensity 61 MANAGEMENT changes
305-5 Reduction of GHG emissions 61 RELATIONS 2016
305-6 Emissions of ozone-depleting substances (ODS) 61
305-7 Nitrogen oxides (NOX), sulfur oxides (SOX), and 61
other significant air emissions

GRI Content Index

GRI 103: 103-1 Explanation of the material topic and its 117-121 GRI 103: 103-1 Explanation of the material topic and its 142, 161-163
APPROACH 2016 103-2 The management approach and its components 117-121 APPROACH 2016 103-2 The management approach and its components 142, 161-163
103-3 Evaluation of the management approach 117-121 103-3 Evaluation of the management approach 142, 161-163
GRI 403: 403-1 Occupational health and safety management 117-121 GRI 407: FREEDOM 407-1 Operations and suppliers in which the right to 142, 161-163
OCCUPATIONAL system OF ASSOCIATION freedom of association and collective bargaining
HEALTH AND 403-2 Hazard identification, risk assessment, and 117-121 AND COLLECTIVE may be at risk
SAFETY 2018 incident investigation BARGAINING 2016
403-3 Occupational health services 117-121 GRI 103: 103-1 Explanation of the material topic and its 161-163
MANAGEMENT Boundary
403-4 Worker participation, consultation, and 117-121 APPROACH 2016
communication on occupational health and 103-2 The management approach and its components 161-163
safety 103-3 Evaluation of the management approach 161-163
403-5 Worker training on occupational health and 117-121 GRI 408: CHILD 408-1 Operations and suppliers at significant risk for 161-163
safety LABOR 2016 incidents of child labor
403-6 Promotion of worker health 117-121 GRI 103: 103-1 Explanation of the material topic and its 161-163
403-7 Prevention and mitigation of occupational health 117-121 MANAGEMENT Boundary
and safety impacts directly linked by business APPROACH 2016 103-2 The management approach and its components 161-163
relationships 103-3 Evaluation of the management approach 161-163
403-8 Workers covered by an occupational health and 117-121 GRI 409: FORCED 409-1 Operations and suppliers at significant risk for 161-163
safety management system OR COMPULSORY incidents of forced or compulsory labor
403-9 Work-related injuries 117-121 LABOR 2016
403-10 Work-related ill health 117-121 GRI 103: 103-1 Explanation of the material topic and its 115
GRI 103: 103-1 Explanation of the material topic and its 112-117 MANAGEMENT Boundary
MANAGEMENT Boundary APPROACH 2016 103-2 The management approach and its components 115
APPROACH 2016 103-2 The management approach and its components 112-117 103-3 Evaluation of the management approach 115
103-3 Evaluation of the management approach 112-117 GRI 410: SECURITY 410-1 Security personnel trained in human rights 115
GRI 404: TRAINING 404-1 Average hours of training per year per employee 111 PRACTICES 2016 policies or procedures
AND EDUCATION 404-2 Programs for upgrading employee skills and 112-117 GRI 103: 103-1 Explanation of the material topic and its 6-7
2016 transition assistance programs MANAGEMENT Boundary
APPROACH 2016 103-2 The management approach and its components 6-7
404-3 Percentage of employees receiving regular 100%
performance and career development reviews 103-3 Evaluation of the management approach 6-7
GRI 103: 103-1 Explanation of the material topic and its 115 GRI 411: RIGHTS 411-1 Incidents of violations involving rights of 7, no such incidents have
MANAGEMENT Boundary OF INDIGENOUS indigenous peoples occurred in FY21
APPROACH 2016 103-2 The management approach and its components 115 PEOPLES 2016
103-3 Evaluation of the management approach 115 GRI 103: 103-1 Explanation of the material topic and its Boundary 161-163
MANAGEMENT 103-2 The management approach and its components 161-163
GRI 405: DIVERSITY 405-1 Diversity of governance bodies and employees 115
APPROACH 2016
AND EQUAL 405-2 Ratio of basic salary and remuneration of women 116 103-3 Evaluation of the management approach 161-163
OPPORTUNITY to men GRI 412: 412-1 Operations that have been subject to human Annual Report 32
2016
HUMAN RIGHTS rights reviews or impact assessments
GRI 103: 103-1 Explanation of the material topic and its 115 ASSESSMENT 412-2 Employee training on human rights policies or 115
MANAGEMENT Boundary 2016 procedures
APPROACH 2016 103-2 The management approach and its components 115 412-3 Significant investment agreements and contracts 161-163
103-3 Evaluation of the management approach 115 that include human rights clauses or that
underwent human rights screening
GRI 406: NON- 406-1 Incidents of discrimination and corrective actions 115
DISCRIMINATION taken GRI 103: 103-1 Explanation of the material topic and its 122-139
2016 MANAGEMENT Boundary
APPROACH 2016 103-2 The management approach and its components 122-139
GRI 413: LOCAL 413-1 Operations with local community 122-139
COMMUNITIES 2016 engagement, impact assessments, and
development programmes

GRI Content Index Assurance Statement

Page Numbers/ Reason for
GRI Standard Disclosure Description
Reference Link Omission
MANAGEMENT Boundary
APPROACH 2016 103-2 The management approach and its components 142
GRI 414: 414-1 New suppliers that were screened using social 142
SUPPLIER SOCIAL criteria
ASSESSMENT 2016 414-2 Negative social impacts in the supply chain and 142
actions taken
GRI 103: 103-1 Explanation of the material topic and its Annual Report 41, 430
MANAGEMENT Boundary
APPROACH 2016 103-2 The management approach and its components Annual Report 41, 430
103-3 Evaluation of the management approach Annual Report 41, 430
GRI 415: PUBLIC 415-1 Political contributions Annual Report 430
POLICY 2016
GRI 103: 103-1 Explanation of the material topic and its Since we are an
MANAGEMENT Boundary engineering and
APPROACH 2016 103-2 The management approach and its components construction company,
our product or services
103-3 Evaluation of the management approach do not have direct
GRI 416: CUSTOMER 416-1 Assessment of the health and safety impacts of impact on customer
HEALTH AND product and service categories 7 health and safety;
SAFETY 2016 416-2 Incidents of non-compliance concerning the however, through our
health and safety impacts of products and focus on developing
services green portfolio, we
ensure public well-being
GRI 103: 103-1 Explanation of the material topic and its There were no incidents
MANAGEMENT Boundary of non-compliance
APPROACH 2016 103-2 The management approach and its components concerning products,
service, information,
103-3 Evaluation of the management approach labeling and marketing
GRI 417: 417-1 Requirements for product and service information communication
MARKETING AND and labeling
LABELING 2016 417-2 Incidents of non-compliance concerning product
and service information and labeling
417-3 Incidents of non-compliance concerning There were no incidents
marketing communications of non-compliance
concerning products,
service, information,
labeling and marketing
communication
MANAGEMENT Boundary
GRI 418: CUSTOMER 418-1 Substantiated complaints concerning breaches of 161
PRIVACY 2016 customer privacy and losses of customer data
MANAGEMENT Boundary
GRI 419: SOCIO- 419-1 Non-compliance with laws and regulations in the 164
ECONOMIC social and economic area
COMPLIANCE 2016

Assurance Statement
216 GRI Disclosures 102-56 GRI Disclosure 102-56 217

Assurance Statement
218 GRI Disclosures 102-56 GRI Disclosure 102-56 219

United Nations Global Compact Case Studies

Communication on progress Manufactured Capital
Principle Category Description Page Multi-functional remote system to operate Individual Hoist Locally in Ship-
1 Human Rights Businesses should support and respect the protection of
38, 39, 69, 115, 143, 162 lift Platform
internationally proclaimed human rights.
2 Human Rights Businesses should make sure that they are not complicit in The multi-functional remote system plays a major role when Individual hoists of the ship-lift platform need to
38, 39, 69, 115, 143, 162 be operated locally for various activities like Bottom Sheave removal, Wire rope NDT checks, Rope replacement,
human rights abuses.
3 Labour Businesses should uphold the freedom of association and the Maintenance activities, position adjustment, etc. This device has drastically reduced component failure and
142, 162 manpower requirement.
effective recognition of the right to collective bargaining.
4 Labour Businesses should uphold the elimination of all forms of forced
and compulsory labour.
38-39, 142, 160, 162 The Objective Key Benefits Achievements
5
6
Labour
Labour
Businesses should uphold the effective abolition of child labour
Businesses should uphold the elimination of discrimination in
38-39, 142, 160, 162
Our task was to develop a system
to reduce manpower requirement
Using this kit, damage of
electronic components is reduced. 92 man-days
38-39, 115, 142, 160, 162 and component failure. Thereby maintenance costs Saved per year of skilled
respect of employment and occupation.
and components wastage are technical manpower
7 Environment Businesses should support a precautionary approach to
56-69 Initiatives Undertaken
environmental challenges drastically reduced.
- Developed new method for
8 Environment Businesses should undertake initiatives to promote greater
56-69 the system operation Improved - Easy accessibility, portable & ` 141,200
environmental responsibility operational accuracy Avoided complete safe operation with
9 Environment Businesses should encourage the development and diffusion of
Cost savings per year in
56-69 components failure & damages emergency stop
environmentally friendly technologies. components replacement
- Maintained the panel cooler - Need for highly skilled electrical
10 Anti-Corruption Businesses should work against corruption in all its forms,
160 efficiency and thereby avoided technician to operate system is
including extortion and bribery
causes of drive failure avoided. The same operator can
- Ramp Up/Down & direction operate both the Hoist system &
selections are made simple with Wire rope reeling drum
the multi-stage selector switch
- Ignored direct interactions with
the VFD, Contactors & live wires
inside the VFD panel
Suspended platform for pile cap construction in water mode

The construction of pile cap underwater requires watertight access and shutter. A suspended platform
emerging from the pile
The Objective Benefits Derived Achievements

Developing methods for - The system resulted significant Time cycle reduced by
minimising cycle time and cost, saving in material and labour
as well as optimising labour and
machines for pile cap construction
Improved productivity, safety
and ease of handling
20 days
in the underwater mode, with for pile cap construction
- Elimination of liner/sheet pile
700 of pile cap concrete and 85
MT of rebar.
driving in deep river, thus saving
assembly and dismantling time 500 MT
Initiatives Undertaken - No sacrificial structural element Structural steel saved
For effective construction of pile involved, thus no wastage
cap underwater, we suspended
a platform from the trestles
- Dewatering system eliminated ` 6 Crore
emerging from the piles, which Savings in value
is held by stress bars. The system
is made waterproof using rubber
packing and bitumen seal
220 GRI Disclosures 102-56 221

Case Studies
Manufactured Capital Manufactured Capital
C-Value, pump performance and hydrotesting of pipeline for west Developed an App Incident Management System (INMS)
segment projects-LWS-1 It is very tough to monitor field engineers and devices. Take those difficulties into account the, Project Director
discussed with the Digital Team and decided to make a Digital platform. The project team and Digital team
C-Value & Hydrotesting of pipeline are very critical activities from the design, execution, and testing points of
together formulated an APP, INMS (Incident Management System).
view. In general, we depend on an external agency to carry out of C -Value testing of water pipelines.
Designing of C-Value and Hydro
setting pipeline for energy and cost
- Time saved for testing
arrangements, reworks, water 10,400 KW-Hrs
To develop an app which can help
us identify and rectify any issues in
We can easily monitor the
attendance of field engineers and 5,937
the devices we installed in different their daily school visits with lat/ incidents raised in the app, of
savings. cost etc. intangible benefits for Energy saved schools of Tamil Nadu. long details. Moreover, we can which 5,717 were resolved
best practices.
Initiatives Undertaken easily monitor, rectify and replace
We took initiatives to formulate - Direct Saving of 10,400 KW-Hrs
for sectional hydrotesting of
` 52 Lakh Initiatives Undertaken
We have implemented the Hi-Tech
the defective devices.
` 96.29%
procedures and formats to
pipeline subjected to passing of Cost savings labs project in Tamil Nadu which is In INMS app, once the field
get approvals from Customer Efficiency of the system for
pipeline in 1st attempt. installation of server, thin clients, engineer raised any ticket about
and project consultant, shared closing raised tickets
projector, printer, IP Phone and device failure, it will automatically
knowledge, demonstrated testing - Employees earned knowledge
UPS and internet connectivity in be routed to the OEM team.
at site and measured Training through training programme.
6,029 schools in 38 districts of If the OEM is not attended
effectiveness. - Total cost saving was ` 52 Lakh Tamil Nadu wherein we deployed within the stipulated time, it
for FY21. 76 field engineers for O&M will be automatically escalated
activities. to their higher officials. In
addition to that, we can store
numerous data in cloud storage
for future review purpose with
downloadable feature.
Reinforcement bar scrap using in house service connection slab RCC
Our objective was to conserve Considerable reduction in - Total 4.5 MT steel saved
energy by utilising reinforcement steel consumption leading to - More than 180 manhours saved
bar scrap for cost savings which reductions of CO2 emissions,
- 90GJ of energy saved
also reduces CO2 emissions. energy consumption and waste
generation helping to keep up with
Initiatives Undertaken Total savings up to now
sustainable development goals.
The reinforcement bar scrap that
was being left after concreting
in major structures like OHSR
Steel, energy as well as manpower
saving thereby saving in costs.
9 Lakh
and WTP was utilised in minor for 10,000 HSCs
structures such as House Service
Connections (HSCs) which require Potential savings up to
bars of lengths up to 0.6 m only
for project Satna MVRWSS. 2.7 Crore
for 3 Lakh HSCs
Reduction of CO2
9,000 kg
222 223
Case Studies
Manufactured Capital Natural Capital

(Defence engineering)
Bihar Campus Wi-Fi Project Successful recycling of wooden scrap
Campus Wi-Fi Project, is one of the dream projects of Hon’ble CM of Bihar under Viksit Bihar Ke Saat Nischay. Recycling the scrap wooden boxes conserves natural resources and saves cost. We were able utilise wooden
The project, had been awarded to L&T’s Smart World and Communication Business by BSEDC on August 16, scrap material by recycling and dispatching the recycled boxes through a packing agency.
2016. Department of IT.
The Objective and the Benefits Derived Achievements
The Objective Initiatives Undertaken Project Benefits Challenge
` 18.15 Lakh
The activity led to conserving
The aim is to provide internet We ensured the following Learning beyond the Our objective was to conserve and natural capital thereby savings
facility using free Wi-Fi network operational excellence and best classroom walls reduce the usage of new wooden cost. Around 80% of the boxes Saved from recycling of
in the campuses of government practices in the Bihar Campus: boxes for every component at were recycled from scrap. wooden scrap
- Increased engagement
universities and their constituent Hazira. For that, we required to
- Uninterrupted internet - Admin work
colleges of the state of Bihar to recycle the scrap boxes for reuse.
connectivity
give impulse to the digital India - Digital initiatives
- Video conferencing Initiatives Undertaken
project and to facilitate and the - Multimedia study guides During FY21, our team refurbished
“Digital India Initiative” among - CCTV surveillance
- Personalised instruction around total 200 boxes of various
students. - Biometric attendance system
- Group study sessions dimensions, totalling 300 CBM
The objective of this exercise is - Online classes & admission (cubic meter) of boxes.
- Pocket library
to provide Campus wide Wi- system
Fi so that the students, faculty - Easier collaboration
- Live webinars
and administrative staff of the
university can access NKN and
thus get connected to the internal
resources such as MOOCs courses,
Wi-Fi Network Usage Saving electricity cost and enabling renewable energy through solar power
NDL and the Internet. Installing solar power plant offers several benefits, such as saving electricity consumption bill, reduction of
800,000 carbon emission, noise reduction, etc.
600,000 The Objective Benefits Derived Achievements
400,000
Our task was to reduce the
electricity energy consumption
After installation of the Solar
Power Plant, electricity energy 121,748 KWH
bill by using solar energy at CSTI consumption bill has reduced Energy saved per year
200,000 Campus, Hyderabad. to 40%.
0 Initiatives Undertaken 113,956 kg
2017-18 2018-19 2019-20 2020-21
- To reduce the electricity energy
CO2 emission control per year
consumption bill, a 113.9 kW
` 9.5 Lakh
Registered User Active User Data Consumption Solar Power Plant was installed
- The plant was constructed with
different types of modules, like Savings in electricity cost
54 kW polycrystalline modules,
32.3 kW thin film modules,
27.6. kW mono crystalline
modules
- The periodical preventive
maintenance is carried out;
hence the Solar Power Plant is
working in good condition
- Net meter is provided, thereby
excess power is exported to
the grid, which resulted in
financial savings
224 225
Case Studies
Natural Capital Intellectual Capital
Reuse of concrete cubes discarded from QA/QC Operational excellence and best practices in first Integrated Nagpur Safe &
Cost saving by reusing discarded concrete cubes for temporary boundary wall and other small concrete Smart City
projects.
A 6-km ‘Smart Strip’ from Japanese Garden Square to Orange City Hospital Square is an avant-garde
endeavour to showcase all the smart solutions which will be controlled by our state-of-the-art-Command &
The Objective Initiatives Undertaken Key Benefits
Control Centre.
To reduce wastage of material Every day approx. 90-98 concrete Saved cost by using discarded
(discarded concrete cubes) cubes are discarded by QA/QC concrete cubes instead of PPC for
The Objective Benefits Derived From Key Benefits
department after load bearing different projects and saving in
The objective was to make - The efforts are very useful in - More than 1,300 offences
test. We reuse the cubes for floor transportation cost
Nagpur a safer, smarter and more monitoring and maintaining were resolved using CCTV
making, temporary boundary wall,
` 207,000
connected city to live in, equipped law & order in the city using surveillance feeds
barrier along the sewage drain.
with a whole gamut of smart CCTV footage for effective - ~ ` 11 Cr e-challans generated
Savings in total cost solutions ranging from surveillance investigation from traffic violations till date
cameras to environmental sensors, - Online access to various - 46% energy saved due to smart
smart traffic to smart lighting, citizen services lighting system
variable messaging systems to
- Effective monitoring of - 28,000 citizens per month
smart bins, Wi-Fi hot zones to
emergency situations through benefitted from free Wi-Fi
smart kiosks.
special smart surveillance facility
Initiatives Undertaken solutions like drones
We implemented various
Sustainability in oil and gas industry through fuel monitoring system operational excellence and best
- Integrated GIS for monitoring
the availability of Hospital
Using smart fuel oil monitoring system could result substantial overall fuel oil consumption figures in practices in the first Integrated beds, RTPCR testing centres,
hydrocarbon engineering projects, at Powai, Mumbai. Nagpur Safe & Smart City in the Primary Health Centres, etc.
following aspects: during COVID
The Objective Initiatives Undertaken Achievements
- Surveillance
Our task was to implement a smart
fuel monitoring system for efficient
- Monitoring of construction
barge LTB300 was done 650 KJ - Fiber Rollout
fuel consumption. - IoT based Digital Solution ‘Real Saving in energy (direct/ - New Technologies
Time Vessel Fuel Monitoring indirect) - Software
System’ was implemented to - EHS
automate the entire process
- Quality
Saving of potable water

Initiatives Undertaken Achievements
In the laboratory, during COD test, distillation process, etc, water runs
to cool down the distillation column, which is wasted. To save water, a 90,000 litres
bucket is filled, and a small cooler pump is installed which will be the water saved per month
inlet of distillation column. The hot water is sprayed in the last bucket,
through which a water is conveyed to the first bucket, with a series of
more buckets in between. During the process, water is cooled down to
~1,095 KL
room temperature. water saved per annum
226 227
Case Studies
Intellectual Capital Intellectual Capital
Solid waste management through IoT solutions Artificial Intelligence based crowd management system
The IoT-based solid waste management system offers smart solutions for smart cities. The system ensures
proper dumping of wastes, real time tracking of compactor, field staff attendance monitoring using biometric
` 4,156,700
To develop a AI based system for - Real-time video analysis for
solution, bin volume sensor for bin level monitoring, etc.
crowd management. crowd management along with
detection and alert algorithm Penalty collected for red-light
The Objective Initiatives Undertaken Benefits Derived Initiatives Undertaken
in overcrowding circumstances violation FY 2020-21
Our task was to set up a smart We developed a mobile app Monitoring & tracking of vehicle We developed a AI-based global
through thresholds and
system that ensures proper through which driver and and real-time management of crowd management system that
management of bins through
volume sensor installed & real time
personnel can get the information
(location, bin fill status) along with
10 garbage collection points
is enabled with two smart bin
proactively interprets crowd
dynamics and provides timely
benchmarking
- Identification of uni/bi-
126,588
bin-fill status at the control room. the fuel consumption of the vehicle sensors per location. Through alerts by taking into account directional wrong-way Challans generated
to track real time data. this solution, garbage-fill status head count and people density at movements and movements in
Smart Bin Analysis Report is monitored from a central
location and drivers are directed
mega events restricted areas
- Dashboard for crowd
73
In Hours
accordingly through SMS, email & management with graphical Traffic incidents resolved/
recorded
10
alert in mobile application. representation of crowd levels

of the areas under coverage, Awards
trend analysis for peak and off- - ISAC Awards 2021 – Top 5
6
peak days, alerts for excessive

- ISGF Innovation Awards 2021 –
crowds etc.
Runner up
- Out of 112,926 calls attended,
- Excellence e-governance
70,340 calls have been resolved
initiative at ‘FICCI’
AVERAGE BIN FILLED TIME AT AVERAGE BIN COLLECT TIME AT on COVID-19 awareness, ration,
10 LOCATIONS 10 LOCATIONS food, doctors, utility services
during the pandemic.
Best Smart Solutions (India) of the Year

Prayagraj Smart City is North India’s first Integrated Smart City project which leverages Artificial Intelligence
based Crowd Management technology to ensure enhanced safety and help city administrators to seamlessly
manage the mega religious convergence, the largest gathering of its kind across the world held during Kumbh
Mela 2019 at one of the four sacred cities, Prayagraj.

To provide smart solutions for the
first integrated smart city project
Reduced traffic congestion and
waiting time. Proper channelisation 1,000+ cameras
of North India (Prayagraj). of solid waste through smart installed at more than 250+
dustbin facilities. locations in Prayagraj city
Initiatives Undertaken
- Developed AI-based global Awards
crowd management system. - ISAC Awards 2021 – Top 5 500 dustbins
- Developed adaptive traffic - ISGF Innovation Awards 2021 – with GPS tracking system at 48
management systems Runner up dumping locations
- Implemented integrated - Excellence e-governance
surveillance system initiative at ‘FICCI’
- Smart solid waste management
system with GPS tracking
system
- 1,920 numbers of 24x7 contact
centre for better pilgrimage
experience
228 229
Case Studies
Intellectual Capital Intellectual Capital
Travel time saving through Adaptive Traffic Control System Crime investigation using the smart surveillance system
Deployment of Adaptive Traffic Control System (ATCS) help the citizens of Raipur to save the travel time. ATCS By using the smart surveillance system police Raipur policemen are solving many cases giving the people a safe
uses VAC (Vehicle Actuated Controller) mode which generally works on real-time basis and as long as there is and crime free environment.
any vehicle movement, it will keep the green light on and if it doesn’t detect any vehicle, it will terminate the
green light immediately within the constraints of maximum and minimum time. The Objective Achievements In a kidnapping case, the culprits
To deploy smart surveillance Total no. of cases solved using the demanded a ransom of `25 Crore
The Objective Benefits Derived system for policemen Raipur. surveillance system are 214 (Mar- and the police were able to arrest
Initiatives Undertaken Column 1 Max. Time Phase Time Saved 20 to Mar-21). Cases like Theft, the kidnapper without giving
24x7 real-time monitoring of city (Sec.) Utilisation (Sec.) (Sec.) Snatching, Fighting, Accidents, any ransom. The case was within
Deployed smart surveillance system
junctions and sensitive locations. 1st Cycle 136 80 56 Kidnapping, Murder, Missing 14 days.
for policemen for investigation and
2nd Cycle 136 89 47 baggage/mobile were solved.
- IPC section 144 - violation resolution of crimes.
monitoring 3rd Cycle 136 104 32
4th Cycle 136 104 32
- Over crowd monitoring
5th Cycle 136 99 37
- Surveillance of supplies 6th Cycle 136 113 23 Benefits Derived
of nonpermitted items to 7th Cycle 136 122 14 Sr. No. Locations observed with poor AQI >200 Time Period
individuals (like alcohol) 8th Cycle 136 129 7 1. Railway Station January, September, October,
- Sanitisation area monitoring 9th Cycle 136 89 47 November, December
across cities 10th Cycle 136 107 29 2. Pachpedi Naka January, October, December
- Raipur CCC turned out to be Total 1,360 1,036 324 3. Inter State Bus Stand January, November, December
COVID-19 Control Centre and 4. NH6 VIP Road, Saheed Smarak, RMC Garden, Telibandha Marine Drive, January, December
attended 16,984 calls from the Nalanada Parisar
general public from March 28,
2020 to December 31, 2020
Securing IT Infrastructure
- Key notices or messages
precisely communicated across
Achievements
At least 24% of time is being saved
17,506 challans TNSDC is one of the backbones of entire IT Infrastructure of the Government of Tamil Nadu, ensuring cyber
the city through the Variable for commuters by using VAC mode generated for wrong -way/ no- security through integration of back-bone network.
Messaging Displays/Billboards. over fixed time mode. entry violation
- Audio messages from city Objective Initiatives Undertaken Achievements
administrations announced 6,696 challans 15,303 To ensure maximum cyber security
for IT infrastructure of Tamil Nadu
- Citizen service is fully available
24 X 7 230
through Public Address systems
to provide awareness regarding
preventive measures to be
generated for stop-line
violations
COVID-related calls addressed Government. - Integration of back-bone
network
IT-applications
followed during COVID-19 are live and running 24 X 7 at
- Compliance related to Backup,
TNSDC Perungudi
SSL certificate and Security
Audit during hosting
Applications Hosting Trend

250
200
150
100
50
0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
No. of Applications Cloud Applications
230 231
Case Studies
Intellectual Capital Human Capital
Forecasting seasonal diseases - Vizag Smart City Sensitising employees on safety

A seasonal disease forecasting algorithm can help the government take proactive action in health risk mitigation.
Objective Initiatives Undertaken Benefits Derived
Number of cases from Jun 2020 to Dec 2021 (month and ward wise) was forecasted by the algorithm.
To sensitise employees on work- - Immersive Learning: - Workmen were able to visualise
related hazards and risks. EHS team developed and degrees of risk, site conditions,
Objective Benefits Derived Achievements
implemented state-of-the-art etc., and the consequences of
Forecast outbreak of seasonal
diseases Visakhapatnam for
- Predicted number of cases
ward wise for the year of 180 VR (Virtual Reality) based Safety
Induction modules on ‘Critical
doing things unsafely.
proactive implementation of 2020 and 2021 for proactive - Employees can better
incidents solved using CCTV to Safety’ themes.
preventive measures. implementation of preventive understand the hazards and
surveillance
measures - Realistic Learning: easily assimilate the safety
` 47,900 Conducted theme-based skits measures in a practical way.
- We collected historical data - High-risk areas plotted on
demonstrating hazards and They can explore the risk
with respect to three seasonal Geo view for prioritisation
Logins per month on associated risks and safety associated without risk to
and management. This has
- Diseases viz. Dengue, Malaria e-governance application measures to be followed themselves or equipment.
enabled the city administration
and Chikungunya from public through plays involving staff
in effective handling of the
health department GVMC. and contractor workmen at
seasonal diseases
- The data ranges from Jan project sites.
- Average air quality index
2016 to May 2020 for a total
observed – 102
77 wards (Ward1-Ward 72,
Anakapalli, Bheemili, Rail, - Total data consumed –
Naval, NT). 270.55 TB
- An algorithm was built based - On an average 300+ calls
on the historical data from received through ECB
Jan 2016 to May 2020 - Smart waste management –on
- A web application with data an average 50+ ‘bin-full’ alerts WINSPIRE
was developed and designed addressed Our corporate HR has been working to channelise its efforts to further the Diversity & Inclusion (D&I) agenda
for viewing and accessing in L&T. WINSPIRE is one such initiative that was recently launched. It is a collection of various interventions to
the data celebrate the contribution of L&T’s women employees.
Women employees at various career stages shared their challenges and experiences through a series of
interviews and panel discussions. Corporate HR collaborated with the Corporate Brand Management &
Communications team to produce a short film titled ‘Celebrating the Daughters who build the Motherland’ and
a coffee table book showcasing stories revolving around the various facets of professional and personal lives of
L&T’s Women employees. Both of these were unveiled on March 8th (International Women’s Day) by our CEO &
MD Mr. S. N. Subrahmanyan.
The WINSPIRE initiative will be grow into a full-fledged D&I initiative in FY22
232 233
Case Studies
Social and Relationship Capital Social and Relationship Capital
Plantation of Fruit Saplings at Talasari and Jawhar Migrant labourers return home to farming livelihood
This green initiative is a step towards creating an alternate but sustainable source of income for deserving Providing livelihood to migrant labourers returning.
families, launched with the support of LTPCT and Vrutti as implementing agency
Objective Impact Achievements
Objective Achievements
period as they are now aware To provide solar-based lift irrigation • For the first time, farmers
50 acres
To provide 2,000 families in
Talasari and Jawhar block of
about plantation of orchards,
nurturing horticulture plants, 2,000 systems to help farmers who
never grew vegetables during
cultivated tomato, lady’s finger,
bottle gourd and brinjal Land came under irrigation
Palghar district in Maharashtra preparing bio input, indigenous Families benefitted with summertime. covering 62 farmers
• LTPCT helped form a farmers’
with an additional source of type of fencing and management additional income group, open a collective bank
income. practices to keep the plants
account and register the
healthy. We also gave them
Initiatives group. Every month, each
periodic direct and indirect
The families covered under this farmer contributes ` 100 to
information on how to plant
initiative were supplied with 3-7 the bank account. Repairs and
saplings, and dig the pits, what
saplings of mango and 4 varieties maintenance of the irrigation
material should be placed to
of cashew. Around 8,769 pits were system is met through the
fill pits, how frequently plants
dug and the plants planted. collected money
needs to be watered, which
Impact input fertiliser to give and how to
Our focused guidance helped protect the plants with fencing.
the farmers during this six-month
Creating livelihood opportunities during the pandemic Helping a hamlet with a water distribution system
In the difficult pandemic circumstances, LTPCT provided livelihood for more than 55 Self - Help Group members Constructing a water distribution to a water starved area.
of Talasari through mask making activity.
Objective Impact
Objective Impact Achievements To provide respite to 50 families by • All households have water
` 12 Lakh
To motivate SHG and Producer The programme helped generate constructing a water distribution available close to their homes
Group (PG) members to make livelihood opportunities for system.
• Five stand posts provided water
masks in the lockdown period to 55 families with total revenue Worth of orders received for twice a day
support their livelihoods and help from mask making reaching 1.5 Lakh masks
provide safety equipment during around ` 14 Lakh. The PGs have • A committee has been formed
the pandemic. been developed as professional to manage, maintain and repair
entrepreneurs. It has helped in the system, An amount of ` 50
increased communication and per month has been decided
coordination skills of all members. per household for this purpose
234 235
Case Studies ESG Performance of Listed group

Social and Relationship Capital subsidiary companies
Promoting poultry farms in project intervention areas Larsen & Toubro Group’s listed subsidiary companies include
Promoting poultry for 10 selected beneficiaries with an aim to increasse the beneficiaries’ household income by Mindtree Limited, Larsen & Toubro Infotech Limited (LTI),
selling male birds, increasing the share of protein consumption, promoting the sale of eggs, and expanding the
range of demo activities.
L&T Technology Services Limited (LTTS) and L&T Finance Holdings
Limited (LTFH). The combined carbon emissions of these companies
Objective Impact Achievements
has reduced by 35% y-o-y and water consumption has reduced
` 24,120
Project Uddyam has sought • Of the 1,000 birds initially given,
to promote backyard poultry 532 are alive. Of these 521, 44 by 45% y-o-y. In addition, Mindtree, LTI, LTTS and LTFH have
by setting up demo farms have been self-consumed by the
among the tribal community of beneficiaries, and 167 sold in
Total revenue generated by all contributed ` 80 crore towards CSR initiatives for FY21.
10 beneficiaries
Talasari. 100-day-old chicks of local and nearby markets.
dual-purpose birds were then
• The rate at which the birds are
distributed to the beneficiaries.
sold ranges between ` 100 to For your Company, it has been a
`200. The average rate is `162 Larsen & Toubro Infotech year of persevering and adapting.
per bird
Limited (LTI) We continued to build on our
solid fundamentals, drive growth
Larsen & Toubro Infotech Limited (LTI) momentum and reinforced our
headquartered in Mumbai, India was founded partnerships – to help clients recover.
in 1997 as a wholly-owned subsidiary of Larsen
Mr. Sanjay Jalona
& Toubro Limited. L&T Infotech (LTI) is a global
CEO & MD
technology consulting and digital solutions
company helping over 400 clients succeed in a
converging world. With operations in 31 countries,
Creating linkage between farmers produce and big brands we go the extra mile for our clients and accelerate
Promoting local mango flavour through project uddyam. their digital transformation. LTI crossed the
34,000-employee mark in FY21.
Objective Impact
One of the key objectives of • The team helped in procure Achievements
Project Uddyam is to create robust
linkages with the big brands
mangoes from the farmers
• By selling through the
3.3 tonnes
for increasing price margin for Mangoes were procured from
procurement centre to Big
farmers. In this regard, the CMS 11 farmers
Basket, these 11 farmers got a
team has worked on backward
premium of ` 17.39 per kg as
and forward linkages.
compared to if they had sold
locally through middlemen. Our Product Our Service
Offerings Offerings
Digital Cloud Data & Application ADM and Infrastructure Enterprises
Consulting Analytics Management Testing Management Integration &
Services Mobility
Enterprise RPA IoT Enterprise Analytics, AI Platform-based

Solutions Solutions and Cognitive Solutions
236 237
Our Sustainability Framework CASE STUDY CASE STUDY
Solar Power Plant Green Buildings

At our campus in Bengaluru, we have installed We have undertaken significant steps towards
Business Right Planet Right People Right an off-grid 100 kWp Rooftop Solar Power plant. developing and designing offices adhering
We conducted a feasibility study along with a to Green building standards, implementing
- Client Centricity and - Resource Efficiency - Stakeholder Engagement
Load Bearing test to determine the capacity of measures to ensure energy efficiency, green
Operational Excellence - Adopting a Low Carbon - Employee Wellbeing the solar power plant required according to the power and water conservation besides enabling
- Disclosures and Transparency Strategy - Diversity and Inclusion Space and Feasibility Study. The initiative has daylighting and steps for waste reduction.
- Ethics and Code of Conduct - Green Cover - Human Rights reduced CO2 emission by average 400 Units Per LTI Headquarters at Powai is a Platinum rated
- Risk Management - Green Products and Services Day (121 tons of CO2 reduced per annum) and Green Building by USGBC and was awarded the
- CSR
also reduced cost to zero for generated units. We ‘Excellence Award’ by IGBC in the ‘Performance
- Volunteerism have a similar off-grid 10 kWp Plant at another Challenge 2020 for Green Built environment’.
leased space in Airoli in Navi Mumbai. Our Bangalore campus is an IGBC Platinum rated
Awards and Accolades Green Building.
- Certificate of Membership by FTSE4Good - Ranked among the top 50 companies (Rating ‘A’)
- AA rating by MSCI ESG Ratings in the BW Business World India rankings for Most
Sustainable Companies 2020
- LTI, Mumbai, Maharashtra, received LEED
PLATINUM by the US Green Building Council for - Won IGBC Performance Challenge Award 2020 for
operations and maintenance Green Built Environment for Powai HQ
- LTI, Bengaluru, Karnataka, received PLATINUM rating - Signatory to UN Women Empowerment Principles
for achieving Green Building Standards by IGBC - CDP supporter 2021
- Topped the list of ‘IT Services Challenger 2021’ in
CASE STUDY
Everest Group’s PEAK Matrix Service Provider of
the Year Awards
Energy Conservation Initiatives
ESG Highlights The Energy Conservation Initiative reduces campus-wide energy consumption and helps our India operations to
Environment: Green Buildings, Renewable Energy, Green Weeks, Energy Conservation and Tree meet the target goal of carbon neutrality by 2030. Some of the initiatives undertaken during FY21 are:
Plantations are major steps in our Carbon Neutrality 2030 roadmap.
- Electricity consumption reduced by 63.2% - 2,000 acres of land irrigated through water - Heating, Ventilation - Uninterrupted - Replacement of - At our Pune Office,
- Renewable Energy share increased to 26.4% conservation programmes and Air-Conditioning Power System (UPS) Conventional Lighting we have started to
- 70% of office area covered under green building norms. (HVAC) system Optimisation Systems use resources of one
- Emissions due to travel reduced by 92.8%
optimisation - Reducing losses within - Initial focus on fittings location to meet the
- Mitigated 4,116 tonnes CO2 through energy - 9.65 ML water recycled
- Reducing main Chiller a UPS system by with fastest payback requirement of other
conservation and green power procurement - 180 farm ponds constructed locations by bearing
operations by using managing connected (CFL to LED). We are
- Planted 152,025 trees alternative low energy load and reducing the gradually moving only the logistics cost
sources during non- number of devices older T5 fittings
Social - Reached 126,649 beneficiaries, including women,
peak hours - Replacement of to LED which has
children and youth from low income communities
- Workforce – 35,000+; Attrition Rate reduced to - Replacement of old old and obsolete marginally longer
and special abilities
12.77% in FY20-21 from 16.55% in FY19-20 equipment with equipment with payback
- 51% beneficiaries of our CSR programmes are women
- 30.23% women representation in workforce with newer energy-efficient efficient modular UPS - Sweating of Assets
12.5 % women representation in senior management - 14,000+ children received happiness kits comprising chillers with newer systems and lesser
nutritional food, immunity-boosting items, and technologies losses at lower loads
- 2,500+ Learning programmes and 344+
hygiene-related goods and stationery
Competency-based programmes
- Zero work-related accidents
Governance
Type of Grievance Recd in FY21 Resolved in FY21 Pending
Whistle Blower 6 4 2
Sexual Harassment 2 2 0
238 239
Performance Highlights
L&T Technology Services Revenue

` (in Million)
Cost of Sales
` (in Million)
EBITDA
` (in Million)
EBIT
` (in Million)
Net Income
` (in Million)
L&T Technology Services Limited (LTTS) is a leading
global pure-play Engineering Research & Development
56,191
(ER&D) services company. It offers consultancy, design,
54,497
8,186
9,276
11,104
38,115
development and testing services across the product and
37,708
10,074
7,891
process development life cycle. LTTS provides services and The world needs sustainable solutions, and it needs
6,633
solutions in the areas of product software, mechanical them now. At LTTS, we are driving the creation
and manufacturing engineering, embedded systems, of a cleaner, greener, and more prosperous future
engineering analytics and plant engineering. through our focus on 6 strategic areas – Electric,
Autonomous and Connected Vehicles (EACV), 5G,
Our technologists work with global firms to offer smart MedTech, Digital Manufacturing, AI/ML-driven FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21
solutions and services that can accelerate new product Smart Offerings, and Sustainability.
development, facilitate remote asset management and
Mr. Amit Chadha
enable virtual product design and prototyping. The key
differentiators for LTTS’ business are its customer-centric
CEO & MD Awards and Accolades
industry innovations, domain expertise and multi-vertical
presence spanning major industry segments. - Most Innovative Tech Company of the Year 2020 - LTTS’ Chest rAI & i-BEMS recognised with the
- Most Exemplary Employer (COVID Response 2021 BIG Innovation Award
Category) - India Digital Enabler Awards 2020 in ‘Best
- Awarded the Gold Stevie for Brand Experience of Technology for Healthcare’
the Year 2020 - Frost & Sullivan Global Customer Value
- Awarded the Golden Peacock National Quality Leadership Award 2020 for i-BEMS
Award - ‘Highly Commended’ by 2020 Transform Awards
- Brandon Hall HCM Award 2020 for Excellence in Nordics
Best Advance in Employee Engagement - Best Company for Excellence & Innovation in
Digital Engineering Services by Dataquest
Our ER&D services offered Achievements

A leading global pure play
Products Operations ESG Highlights
engineering services company
- Mechanical Design - Sourcing
Environment
- Security
- Cloud & Analytics
- Robotic Process
Automation
306 650 - We installed solar panels for public street lighting and helped optimise HVAC with VRF and occupancy sensors.
- DevOps Global Clients Patents - Besides enabling STP and rainwater harvesting, we installed pressmatic taps and aerators to reduce water
- Intelligent Building usage at our facilities.
- Immersive Experiences
- Embedded Systems
Management 69 17 - Significant energy savings were achieved during FY21.
- VLSI - Integrated Content R&D Innovations Global Design Centers
- Testing and Validation Management
- Wearables Engineering - Connected Service 16,400+ 25+ Energy savings during FY21
Comparison FY21 FY20
Manufacturing Support Employees Countries
Unit Consumed per Annum (in KWH) 1,340,508 2,643,108
- Plant Engineering Consultancy
- Digital Factory - Industry 4.0 Top 25 53 of Global 100 Saving in terms of power consumption (KWH) 1,754,692 68,223
- Line Expansions and - Smart Factory Best Employees R&D Spenders as clients AVG per unit rate per Annum in INR 9.49 7.90
Transfer Globally
- Product Strategy
- Asset Care Savings in terms of INR (` Lakhs) 123.6 5.4
- Accelerated - Security
Our client coverage
Operations
- Mfg. Automation Plant engineering HI-tech
- Agile Supply Chain 7 of top 10 8 of top 10
- Smart PLM Medical and life sciences Transportation
3 of top 5 8 of top 10
Industrial products Media & entertainment
7 of top 10 4 of top 5
*Data as of March 31, 2021
240 241
Social Governance CASE STUDY
- CSR spend (FY21): ` 157.19 million as against a

budget of ` 156 million.
- All major policies such as whistle-blower, POSH,
anti-bribery, and anti-corruption have been
Withstanding Nature’s Fury with
- 22,359 elderly people benefited from our Mobile implemented Disaster-Resistant Homes
Health Unit (MHU). - Women employees comprises 21% of our total
workforce as on March 31, 2021. Dangerous and unpredictable natural disasters to rebuild the lost homes of those affected by the
- 8,550 students of all ages were covered under
affect millions of people every year. Events such as destructive cyclone.
various educational programmes. - LTTS has created an online platform ‘Ethics Line’ as
cyclones and floods can completely destroy As of March 2021, we built and handed over 51
- 307 rural youth benefitted from our skill a part of its whistle blower mechanism. Ethics Line
thousands of houses and force people to evacuate cyclone- resistant houses. Although the COVID-19
development projects. offers an independent, multi-channel interface for
their homes. According to UNICEF, about 25 million pandemic played its part in delaying construction
employees to report unethical conduct/malpractice
- Corporate Volunteering Programme (CVP): people around the world were displaced due to activities, the progress of this project has been
they may see around them, which are then
1,221 hours towards volunteering work across LTTS natural disasters in 2019. quite remarkable. After the government relaxed its
addressed by the competent authority. Complete
locations during the year. lockdown restrictions, the shortage of labour was
anonymity is ensured by the management of those Building cyclone-resistant homes in Puri,
∙ Various employee well-being and equal who raise concerns. compensated with locals who were not able to go
Odisha, with Habitat for Humanity, India
opportunity programmes viz., Accelerated out for regular employment. This helped the locals to
During Resolved
Leadership Programme (ALP), Young Leadership When Cyclone Fani made landfall on India’s eastern earn livelihood and ensured that the project activities
FY 21 during FY21
Programme (YLP), CEO Club, Gladiate, coastline on 3 May 2019, Odisha faced the brunt of the carried on without any major delays.
Illuminate, Glocal, Prism, and Global Engineering POSH 3 3 impact. Although more than a million people were Moreover, considering Odisha lies in a cyclone prone
Academy were implemented during the year. Whistle-Blower 5 5 evacuated from the state’s vulnerable coastal areas, 64 area, we have also undertaken disaster management
mechanism via Ethics Line people died due to this natural disaster which wreaked and survival training for the local communities.
` 5.25 billion worth of infrastructural damage.* This has helped provide the people with the means
The cyclone ravaged several thousand homes in and knowledge to protect themselves during any
Odisha’s Puri district. In response to this crisis, LTTS future calamities.
launched Project Neelachala – an initiative to provide
CSR performance at a glance disaster-resilient homes to 150 affected families in Puri.
*https://www.hindustantimes.com/india-news/cyclone-fani-causedrs-
525-crore-infrastructure-damage-says-odisha-government/story-
Environment Water Health As part of this initiative, we are working with Habitat BVt5V5R8c0xvyvhvqHRU0I.html#:~:text=The%20 Housing%20and%20
Urban%20Development,267%20 culverts%20have%20been%20
for Humanity, India and the Government of Odisha
488 1,068 22,359 damaged
people benefited from our people benefited from healthcare treatments

solar project various socio-economic provided CASE STUDY
programmes
51 446 Beautifying Public Spaces, Creating
cyclone-resistant houses 4,635 locations where primary care Sustainable Urban Oases
handed over to beneficiaries agro forestry saplings was given
planted As part of the green ethos objective, LTTS has been Last year, the pandemic prevented us from
undertaking various green and clean initiatives in engaging in any labour-intensive activities. However,
35,000 many parts of the country. These projects focus on the project continued with strict adherence to
sq. ft of space maintained 4,634 improving the environmental sustainability of public government norms. This included conducting non-
cubic metre of clearance places and making them eco-friendly. labour-intensive activities such as basic maintenance
28,886 channel constructed
A road median project on Thane-Belapur
and plant watering throughout the year.
kgs of (dry + wet) waste Road, Navi Mumbai, with Meta Design 42,365 flowering
collected plants, shrubs and
Since 2018, LTTS collaborated with Meta Design
creepers maintained
to develop and maintain a road median project
between Koperkhairane and Rabale. The project 100 signage poles,
Education Skill Development
covered an area of about 6 ½ kilometers on Thane- 50 solar mashals
8,550 247 Belapur Road, Navi Mumbai. and 76 spike lights
maintained
As part of this project, the road median was
students benefited from our youth benefited from digital
populated with flowering plants, shrubs, and creepers 180 warli paintings
education programmes literacy courses
to absorb carbon dioxide and aid in cleansing the and 535 social
Infrastructure support air. The LTTS and Meta Design teams also installed messages maintained
provided to women research 60 signage poles, solar lamps, and spike lights. Besides
Involved a mixed use
scholars youth benefited from Office this, the railings along the road divider were painted
in VIBGYOR themes with social messages. of tanker water and
Assistantship training
drip irrigation
242 243
Mindtree Ltd. Awards and Accolades

About the Company - Winner of 1st NHRDN People First Ace Awards - Winner of SHRM HR Excellence Awards 2020 in the
Mindtree, a global technology solutions and 2020 in the category ‘Workforce Planning & category ‘Excellence in HR Analytics’
consulting Company with 21 years of legacy in the Staffing Solutions’ - Winner of ‘Business World People HR Excellence
space of Information Technology. The company - First Runner up in NHRDN People First Ace Awards Awards 2021’ under the category ‘Employee
has been a part of L&T Group since mid-2019. 2020 in the category ‘Organization Design’ Welfare Initiatives’
Keeping the short, medium, and long-term sustainability
Mindtree delivers digital transformation and - In L&T Annual HR Excellence Award (AHA) - 1st - Second Runner up in ASSOCHAM Diversity &
risks and opportunities in mind, our strategy continues
technology services from ideation to execution, prize in ‘Young Achievers,’ 2nd prize in ‘Making a Inclusion Excellence Awards & Conclave 2020 in
to pursue people engagement, resource conservation,
enabling Global 2000 clients to outperform Difference,’ 3rd prize in ‘Leading Change’ the category ‘Best Employer for Women’
renewables, and community care, focusing on the
the competition. ‘Born digital,’ Mindtree takes
material aspects identified by us. FY21 has been a year - Winner - ATD Best Award 2021 in ‘Learning &
an agile, collaborative approach to creating
of transformation for us in many ways—to realise our Development’
customized solutions across the digital value
resilience and have it validated is heartening.
chain. The Company’s deep expertise in
infrastructure and applications management Mr. Debashis Chatterjee ESG Highlights
turns IT into a strategic asset. CEO & MD
We are committed to creating long-term value for our stakeholders through ESG practices that minimise our
Across global operations, the Company helps environmental impact and promote the well-being and prosperity of Mindtree Minds and our communities.
the world’s leading companies use cutting- Aligned with our sustainability vision, Mindtree has embarked on its own sustainability journey, adopting global
edge digital and IT solutions as a competitive best practices and, in turn, augmenting long-term value creation for all its stakeholders. The expectations of
advantage and get them to the future ahead of our internal and external stakeholders are factored into our sustainability strategy, which is also aligned with
schedule. Leveraging emerging technologies, the the UN SDGs. ESG parameters are integrated into all our business decisions.
Company has garnered immense client trust by
redefining their success to higher levels. Mindtree Driving growth together
has 270 enterprise clients across 24 countries.
This is enabled by a 23,814 strong group of
Environment Social Governance
entrepreneurial, collaborative and dedicated
‘Mindtree Minds’. - Energy efficiency and Scope - Supporting education and - Diverse and inclusive
1,2,3 emissions reductions growing digital talent (employees and Board)
- Optimal water and - Community empowerment - Strong corporate ethics and
wastewater management (Disability, Livelihood) risk management policies
- Green Tech Innovation - Work ethos and culture - Data privacy and security
Some of the highlights include The artificial lake that we Go green

constructed at our Kalinga campus
Environment Digitisation of processes
fed our construction requirement
iProcure, our supplier portal
on the site with 6,695 kl water
198,965 kWh from the pond.
launched at the end of FY20, has
evolved this year and is globally
of energy saved through
spreading its reach, bringing
battery optimisation,
complete supplier visibility. The
VFD installation, UPS
traction was accentuated by the
Industry Groups Service Lines Geographies optimisation, Split AC
pandemic, and we are already
installation, LED lights etc.
- Retail, CPG and - Customer Success - North America witnessing the early benefits in
Manufacturing (RCM) terms of time and efficiencies.
- Banking, Financial Services
- Data & Intelligence - UK & Ireland
74.8% ALL PO invoice transactions are
- Cloud and Enterprise IT - Continental Europe
and Insurance (BFSI) Renewable Energy
- APAC & Middle East now virtual globally under our
component in our total mix
- Travel and Hospitality (TH) Supplier360 Portal and we have
achieved our ‘Go Green’ concept
- Communications, Media
and Technology (CMT)
2,745 KL though this initiative.
of water saved pan India
Waste recycling has improved
from 80% in 2014-15 to
94.6% in 2020-21 by
reducing incineration and
landfills.
244 245
For India, a sustainable future

is contingent upon financial
inclusion, and NBFCs like LTFH
Social L&T Finance Holdings Ltd. have a crucial role to play in this
mission.
About the Company
` 80 million L&T Finance Holdings (LTFH) is the holding
Mr. Dinanath Dubhashi
CEO & MD
spent on CSR initiatives company for the Larsen & Toubro Group’s financial
- 23 high potential children services business headquartered in Mumbai. The
supported to pursue their Company has 111 lakh+ customers across India
ambitions and highest credit rating for an NBFC -AAA- by
- 1,000 computers donated by four rating agencies. LTFH is regarded as one of
Mindtree Minds to domestic India’s leading and well-diversified NBFCs with a
CSR – Volunteering – Mindtree Minds CSR – Education - Mindtree strong presence across lending and investment
helpers’ children
volunteered under the guidance of the Foundation’s Gubbachi Project – who management business. L&T Finance Holdings was
- 7,350 prison inmates benefitted
Mindtree Foundation Team in creating works with migrant children, where incorporated in 2008, and in 2011, it went on to
through radio stations
study play and learn material for Nalli they do bridge courses as they are become a publicly listed company (BSE & NSE).
supported at the central prison.
Kalli children of Gubbachi Project. from different states and enroll them It is registered with the RBI as a Non-Banking
Promoted prisoners’ talents,
to Govt., schools and continue to Financial Company and Core Investment Company
creating positivity through - 6.05/7 – Customer satisfaction work with them through Nalli Kallli (NBFC‑CIC).
storytelling survey score (1st to 3rd standard) on Fundamental
- 1,417 beneficiaries supported in - Women in the workforce have Numeracy, Literacy and Basic English
education grown from 16% in 2004 to
- 979 beneficiaries skilled from 32% in 2020
rural/urban India - Vision 40x30 (FY30): We
- 18,087 beneficiaries of CSR aim to have 40% of women
projects representation
- Young Leaders Programme with
320 participants and average Services offered by the Company Awards and Accolades
learner rating of 4.32
Types of Business
In February 2021, L&T Finance Holdings received
Governance Lending Business: an ESG Risk Rating of 28.2 and was assessed
by Sustainalytics to be at MEDIUM risk of
- Board level review on ESG compliance at regular intervals
Rural Finance experiencing material financial impacts from
- All major policies such as anti-bribery and anti-corruption policy in place
ESG factors.
- The ERM framework has been designed by aligning with leading risk management frameworks/standards
including COSO, ISO 31000 and the IRM Risk Management Standard Farm Equipment
Two-Wheeler Finance
- 97% - Average attendance rate in Board meetings Finance In 2020, L&T Finance Holdings received a rating
- Compliance to policies: of A (on a scale of AAA - CCC) in the MSCI ESG
Ratings assessment.
No. of New Cases Micro Loans Consumer Loans
Opening no. of Cases No. of Cases Resolved Outstanding Cases as
Registered during the
as of April 1, 2020 during the Year of March 31, 2021 FTSE Russell confirms that L&T Finance Holdings
Year
Housing Finance has been independently assessed according
Whistleblower 4 12 14 2
to the FTSE4Good criteria, and has become a
POSH 0 0 0 0 constituent of the FTSE4Good Index Series.
Home Loans Loan Agent Property
Board Balance Chart Board Demographics
In July 2020, L&T Finance Holdings received
- Non-Executive Director: 03
Renewable Energy Acquisition Financing Deal
- Independent Directors Real Estate Finance
Board Experience Board age profile Board diversity of the Year & Utility Deal of the Year by Asia
(Including 2 women % % % Infrastructure Awards.
Directors): 06 Infrastructure Finance
- Executive Directors: 03
In 2020, L&T Finance Holdings received IDC
Infra Finance Infra Debt Fund Digital Transformation Award by IDC DX Awards.
- Median Director age: 63
- Average tenure of Independent
Directors: 3 Non-Lending Business:
33 21-30 years 33 36-55 years 83 Male
- Average attendance in Board 67 >30 years 50 56-70 years 17 Female Investment Management
meeting: 97% 17 >70 years
246 247
LTFH ESG Journey: A Sustained Commitment CASE STUDY
Digital Sakhi Seva Kendra

2018 2019 2020 2021
One More Milestone in Tanuja’s Life
May May Apr Apr
- Gap Assessment - 1st Sustainability Report - ESG Targets adopted - Setting up of Board Mrs. Tanuja Jawale was amongst the initial set of Digital Sakhis who had joined LTFH Digital Sakhi
Sustainability readiness Jul Jun level ESG Committee Maharashtra programme in 2017.
Sep - S&P Global Corporate - Certified FSTE4Good Jun During her three-years tenure as a Digital Sakhi, she was ever enthusiastic about talking digital
- Sustainability task force Sustainability indices - Certified for finance, through here regular door to door visits and campus in and around her village.
Oct assessment invitation Jul FTSE4Good indices for
second consecutive On successful completion of two years of programme, she underwent an aspirational exercise conducted by LTFH to ensure
- 1st Materiality - 2nd Sustainability
year sustainability of the programme. Mrs. Tanuja was keen on helping the larger community and more precisely in the domain of
Assessment Report (IIRC framework)
digital finance and government entitlement schemes. This was the beginning of her jouney of running a Digital Sakhi Seva Kendra.
- External assurance by Jul
She underwent a specialised training on usage of government gateways like Aaple Sarkar, different online applications and a
E&Y - 3rd Sustainability
three-month state government authorised computer literacy programme.
Report (IIRC framework)
Dec
- External assurance by Digital Sakhis like Mrs. Tanuja were supported by LTFH with a partly funded seed capital to start her own Digital Sakhi Seva Kendra
- Inclusion in CDP ratings
E&Y which served as a hub of digital finance related services in the villages.
CASE STUDY
Financial Performance Highlights
Product Co-creation with Stakeholders
` 94,013 Cr. ` 1,155 Cr. 7.35% ` 2,999 Cr. ` 15,629 Cr. ‘AAA’ Co-created ‘sabse khas loan’ with business stakeholders (dealers) in
Lending PAT Before RoE Before Capital raised Raised long- rating reaffirmed two-wheeler finance business
Portfolio Exceptional Exceptional through rights term borrowing by CRISIL, ICRA,
Items Items issue CARE and India An outcome of LTFH’s regular dealer interaction to crowd source ideas and gather feedback on
Ratings various aspects of the business.
A first in the industry, the scheme not only provides hassle-free and low-cost finance for
ESG Highlights: two-wheelers, but also eliminates the need for hypothecation of vehicles to the financier over the tenure of the loan. The
borrowers can choose from three different EMI tenures — 6, 12 and 18 months — with interest rates between 7.99% and 8.99%.
LTFH is committed to delivering long-term stakeholder ∙ Ex-gratia payment - ` 2 Lakhs Currently, two-wheeler financiers transfer the title of the vehicle to the customer only when the entire loan amount is repaid. This
value and, accordingly, it focuses on future proofing and ∙ Financial support by paying 2 years’ salary leads to additional paperwork and puts financial burden on the customer.
embedding sustainability in service of its people, business and
∙ Sponsorship of education of children till graduation Positive outcome/benefits:
community. The business bounce back that LTFH witnessed
in the second half of the year, despite the pandemic led crisis, ∙ Spouse’s education assistance till graduation for - Removes the financier’s charge on the vehicle, thereby saving time, effort and money of the customer.
reflects the success of the sustainable business model. enhancing employability
- Appreciate and reward borrowers who are financially responsible and spend their money wisely. They not only receive hassle-
Environment: Committed to financing India’s energy Governance: Institutionalised structures and guide lines free and quick disbursements of the loan, but also get lower interest rates and save on fees.
transformation, both at the business as well as entity for adherence to ethical codes of behaviour - The aim is simple, make their experience seamless. Like we say, ‘Your bike, your papers, your pride.’
level - Diversified Board – Expertise, Skills and Gender - Algorithm-based credit decisioning, paperless on-boarding and fast turnaround time have been key differentiators for LTFH’s
- Financed 1,560 MW of green energy in FY21 through - Mr. Shailesh Haribhakti, Non-Executive Chairman Two-Wheeler Finance business.
Renewable Finance business (Independent Director) conferred the Global Competent
- 49 Lakh+ tonnes of CO2e GHG emissions avoided in Boards Designation (GCBD). CASE STUDY
financed portfolio - Stakeholder Relationship Committee addresses Flexible Coupon
- Received LEED-Gold Certification for LTFH’s shareholder’s concerns and grievances and reviews policies
L&T IDF has developed a product referred to as ‘flexible coupon and
Corporate HQw and procedures to ensure their speedy disposal
self-adjustable redemption premium’ where the coupon of the project is
- Introduced several technological solutions to save - Ensuring continued operations to support customers, aligned to the road traffic
electricity and increase efficiency many of whom depend on our services for their livelihoods
such as farm equipment loan; especially in under-served l&T IDF provides coupons with a floor of 5% and ceiling of 10%. The actual coupon in any year would be
Social: Facilitating Financial Inclusion and Individual segments higher or lower based on the project’s ability to pay i.e., cash flows. L&T IDF gets a fixed yield which is a
Prosperity especially in unserved and under-served combination of the coupon and redemption premium. As the coupon move up and down every year, the
segments premium also gets adjusted accordingly.
- Serve over 59 lakhs micro loan customers
This product was developed in consultation with a customer (Global Infrastructure Partners), one of the largest global funds which has
- Empowering women in rural communities through digital become an infrastructure project developer in India.
literacy: cadre of over 860 ‘Digital Sakhis’ and up-skilled
4,500 women entrepreneurs Positive outcome/benefits:
- 13.79 lakhs community members reached through - Evidence of enhanced project viability through higher debt service coverage ratios.
CSR efforts - Upgradation in credit ratings of the project.
- CSR spend of ` 23.15 crore - Lower cost of debt for the project due to higher credit rating.
- Committed to employee care: Initiatives for people who - Repeat business for L&T IDF from the client.differentiators for LTFH’s Two-Wheeler Finance business.
lost lives due to COVID-19
248 249
Notes Notes
250 251
Notes
252
pg 44
back cover
Headquarters
L&T House, Ballard Estate,
Mumbai-400 001
www.Larsentoubro.com
GRI Disclosures 102-3

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INTEGRATED REPORT 2020-21

Making meaningful choices today is pivotal to building a better world. At

FY21 GROUP HIGHLIGHTS 30-45 168-199

` 3,273.54 billion 196

` 115.83 billion 221 Case studies

* Includes profit on discontinued operations net of exceptional items ` 46.18 billion

About the report STRATEGIC OBJECTIVES

Integrated Report SE5

Our Products/Projects Our Product/Projects Our Product/Projects Our Product/Projects

Setting us Apart Setting us Apart Setting us Apart Setting us Apart

PAGE 170 PAGE 173 PAGE 172 PAGE 175

8 GRI Disclosures 102-2, 102-7 GRI Disclosures 102-2, 102-7 9

10 GRI Disclosures 102-2, 102-7 GRI Disclosures 102-2, 102-7 11

Power L&T Hydrocarbon Engineering Realty L&T Valves Construction

12 GRI Disclosures 102-2, 102-7 GRI Disclosures 102-2, 102-7 13

Offices Registered Office

Rewari-Madar Railway, DFCC Al Rayyan Stadium

Changing the dynamics Gigantic stadium that upholds

700 MWe Steam generators for GHAVP Bharatpur Pump House

Bridging the world Supporting India’s

Message from the CEO & MD

20 GRI Disclosures 102-14 GRI Disclosures 102-14 21

Mr. Subramanian Sarma

22 GRI Disclosures 102-14 GRI Disclosures 102-14 23

Messages from the Senior Leadership Team

Messages from the Senior Leadership Team

Mr. Jayant D. Patil Mr. T. Madhava Das

26 GRI Disclosures 102-14 GRI Disclosures 102-14 27

Messages from the Senior Leadership Team

Excelling in construction practices in a bid to improve the control

Mr. Sudhindra Vasantrao Desai Dr. Hasit Joshipura

Whole-time Director and Sr. Vice President &

Value creation model

Engineering Construction Technology Manufacturing

PAGE 56 PAGE 70 PAGE 94 PAGE 110 PAGE 122

Value creation process

Identify key risks and

of material issues Sound corporate

1 External environment 3 Stakeholder engagement 5 Capitals 7 Governance

Shareholders and Investors Employees

Stakeholder Engagement Materiality Assessment

Material sourcing We focus on enhancing local sourcing of materials

Climate change We believe business sustainability and competitiveness are

Community Talent attraction Adoption of

Supply chain Suppliers are our strategic partners in delivering timely

Labour management Our comprehensive CoC ensures that we follow best-in-class

labour, and so on). In addition to sensitising our workforce

Perspective plan 5 year strategic plan Annual plan

- Business portfolio - 5 year Business plan - Annual budget

Complementing the mature businesses Well-balanced and geographically

Strategy Reviewing our Performance

Pursue Value Accretive Incubate new businesses Enable business

TARGET TARGET TARGET TARGET

TARGET TARGET Safety Corporate social initiatives

STATUS TARGET STATUS

Managing Capital Trade-offs

Managing the COVID-19 Divesting non-core Ensuring judicious Focusing on

Human Capitals deployed Capitals deployed Capitals deployed

Social and Relationship

KEY HIGHLIGHTS OF FY21

1 External environment 3 Stakeholder engagement 5 Capitals 7 Governance