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India's L&T looks beyond infrastructure in turn to tech

Company chairman targeting software development, data centers for growth

As Larsen & Toubro shifts its strategy to include more modern sectors, it has also been looking to offload some of its lower-profit businesses.   © Reuters

MUMBAI -- India's biggest construction company, Larsen & Toubro, is increasingly branching into high-tech sectors such as operating data centers and developing software as it pushes beyond the infrastructure-building that has fueled its growth over the past few decades, the 80-year-old chairman of the group told Nikkei Asia.

Founded by Danish engineers Henning Holck-Larsen and Soren Kristian Toubro in 1938, the Mumbai-based company, commonly known as L&T, is now one of the big names in corporate India and has attracted attention from a range of international investors. Its current shareholders include giant asset manager BlackRock, Norway's Norges Bank and the Indian asset management unit of Japan's Nippon Life.

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