Larsen & Toubro (L&T), India’s largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don’t possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T.
But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said. “Today, L&T does 60 per cent of its work outside India but here we have lost 14 of 14 …
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