Engineering and construction major Larsen & Toubro (L&T) has missed business worth ₹12,000 crore and has an order backlog of ₹3.1 lakh crore, CNBC-TV18 reported on Friday quoting company’s CEO SN Subrahmanyan.
The company has spent about ₹500-550 crore on maintaining labour colonies at construction sites, and is expected to incur a cost between ₹1,600 crore and ₹1,800 crore cumulatively on safety measures during the lockdown, Subrahmanyan reportedly told the employees.
While some projects of the company will be resumed as per the original schedule, L&T expects projects in Middle Eastern countries to be delayed following a steep fall in the crude oil prices.