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Larsen & Toubro Announces Divestment of L&T Infrastructure Engineering Limited

Delhi, November 3, 2023:  Larsen & Toubro (L&T), announced divestment of its 100% stake in L&T Infrastructure Engineering Limited (LTIEL), a provider of standalone engineering consultancy services for the infrastructure sector. The stake has been acquired by STUP Consultants Private Limited, a subsidiary of Assystem SA of France.

LTIEL, formerly known as L&T-Ramboll Consulting Engineers Limited, reported Rs 92 crore revenue for FY23.

DK Sen, Advisor to Chairman and Managing Director, L&T and Chairman, LTIEL, said “This is a step to exit the non-core standalone consulting engineering practice and focus energy and attention on our core businesses. It not only benefits L&T but also allows LTIEL and its employees greater avenues of growth.”

The transaction is currently pending completion of customary closing conditions and is expected to be concluded before January 15, 2024.