LARSEN & TOUBRO LIMITED (L&T) Chairman and Managing Director AM Naik on Thursday said the company is seriously thinking of selling its entire stake in the Bangalore International Airport, in which it is a minority partner. The engineering and construction major has 17 per cent in the Bangalore airport, which was built at a cost of Rs 24.7 billion (US$537 million). Naik said L&T does not want to be a minority partner, hence mulling to exit the airport. The total order book of the company would swell to Rs 1 lakh crore in this fiscal year, a 35 per cent increase from the Rs 850 billion last year, Naik, who was in Coimbatore to commission a casting manufacturing unit to cater to wind power said on Thursday.
Source: Trading Markets