L&T lost business worth ₹12,000 cr amid lockdown: CEO reportedly tells staff

Engineering and construction firm Larsen & Toubro (L&T) lost revenue worth ₹12,000 crore during the lockdown, CEO SN Subrahmanyan reportedly told employees. He added the firm has an order backlog of ₹3.1 lakh crore. The company is reportedly spending ₹500-550 crore on maintaining labour colonies at construction sites and expects to incur costs of ₹1,600-1,800 crore cumulatively on safety measures.