citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . january 2016 learn how and when to remove this template message larsen & toubro limited type public traded as nse lt bse 500510 bse sensex constituent industry conglomerate founded mumbai products real estate construction heavy equipment electrical equipment power shipbuilding financial services it services revenue 102 631.69 crore us 15 billion 2016 1 profit 5 537.99 crore us 820 million 2016 2 total assets 227 524.72 crore us 34 billion 2016 2 number of employees 84 027 mar 2014 3 divisions real estate realty technology engineering construction manufacturing subsidiaries l & t technology services l & t infotech l & t mutual fund l & t infrastructure finance company l & t finance holdings l & t mhps website www.larsentoubro.com larsen & toubro limited also known as l & t is an indian multi national conglomerate headquartered in mumbai maharashtra india . 4 it was founded by danish engineers taking refuge in india as well as an indian financing partner . 5 the company has business interests in engineering construction manufacturing goods information technology and financial services and also has an office in the middle east and other parts of asia . 6 l & t is india s largest engineering and construction company . 7 8 described by ndtv in 2013 as a bellwether of india s engineering & construction sector 8 l & t was recognised as the company of the year in economic times 2010 awards . 9 contents 1 history 2 operating divisions 2.1 l & t realty 2.2 l & t technology services 2.3 l & t solar 2.4 electrical and automation 2.5 information technology it 2.6 machinery and industrial products 2.7 ewac alloys limited 3 major subsidiaries and joint ventures 4 corporate re structuring 5 listing and shareholding 6 employees 7 awards and recognition 8 allegations of bribery 9 see also 10 gallery 11 references 12 external links history edit prior to indian independence a company was founded in 1938 bombay mumbai british india by two danish engineers henning holck larsen and s ren kristian toubro . the company began as a representative of danish manufacturers of dairy equipment . however with the start of the second world war in 1939 and the resulting restriction on imports the partners started a small workshop to undertake jobs and provide service facilities . 10 germany s invasion of denmark in 1940 stopped supplies of danish products . 10 the war time need to repair and refit ships offered l & t an opportunity and led to the formation of a new company hilda ltd to handle these operations . 10 l & t also started to repair and fabricate ships signalling the expansion of the company . 10 the sudden internment of german engineers in british india due to suspicions caused by the second world war who were to put up a soda ash plant for the tata s gave l & t a chance to enter the field of installation . 10 in 1944 ecc was incorporated by the partners ; the company at this time was focused on construction projects presently ecc is the construction division of l & t . l & t began several foreign collaborations . by 1945 the company represented british manufacturers of equipment used to manufacture products such as hydrogenated oils biscuits soaps and glass . 10 in 1945 the company signed an agreement with caterpillar tractor company usa for marketing earth moving equipment . at the end of the war large numbers of war surplus caterpillar equipment were available at attractive prices but the finances required were beyond the capacity of the partners . this prompted them to raise additional equity capital and on 7 february 1946 larsen & toubro private limited was incorporated . 10 after independence offices were set up in kolkata calcutta chennai madras and new delhi . in 1948 55 acres of undeveloped marsh and jungle was acquired in powai mumbai . a previously uninhabitable swamp subsequently became the site of its main manufacturing hub . 10 in december 1950 l & t became a public company with a paid up capital of 20 lakhs 2 million rupees 2 000 000 . the sales turnover in that year was 1.09 crore 10.9 million rupees . 10 in 1956 a major part of the company s mumbai office moved to ici house in ballard estate mumbai ; which would later be purchased by the company and renamed as l & t house its present corporate office . 10 during the 1960s ventures included utmal set up in 1960 audco india limited 1961 eutectic welding alloys 1962 and tengl 1963 . 10 operating divisions edit l & t has formed a joint venture with sapuracrest petroleum berhad malaysia for providing services to the offshore construction industry . 11 the joint venture will own and operate the lts 3000 a crane vessel for heavy lifting and pipe laying . l & t power has set up an organisation focused on coal based gas based and nuclear power projects . 12 l & t has formed two joint ventures with mitsubishi heavy industries japan to manufacture super critical boilers and steam turbine generators . 13 l & t is among the largest five fabrication companies in the world . 14 l & t has a shipyard capable of constructing vessels of up to 150 metre long and displacement of 20 000 tons 15 at its heavy engineering complex at hazira gujarat . the shipyard constructs specialised heavy lift ships cng carriers chemical tankers defence & para military vessels submarines and other role specific vessels . the design wing of l & t ecc is edrc engineering design and research centre which provides consultancy design and services . it carries out basic and detailed design for both residential and commercial projects . l & t realty edit main article l & t realty lnt realty is the real estate development arm of larsen & toubro . 16 17 the company operates in western and southern india constructing residential corporate office retail leisure and entertainment properties with 35 million sq ft under various stages of development . 18 l & t technology services edit l & t technology services a subsidiary of larsen & toubro is an engineering services company that operates in the global engineering research and development er & d space . l & t technology services offers design development and testing services for the industrial products medical devices transportation aerospace telecom and process industries . the company serves customers across the product engineering life cycle from product conceptualization to implementation . services include consulting design development testing maintenance and to market integration services.l & t technology hits the indian capital marets with its ipo offering 10.4 million share at a price band of rs .850 to rs .860 19 l & t solar edit l & t construction a subsidiary of larsen & toubro undertakes solar energy projects . in april 2012 l & t commissioned india s largest solar photovoltaic power plant 40 mwp owned by reliance power at jaisalmer rajasthan from concept to commissioning in 129 days . 20 in 2011 l & t entered into a partnership with sharp for epc engineering procurement and construction in megawatt solar project and plan to construct about 100 mw in the next 12 months in most of the metros . 21 l & t infra finance promoted by the parent l & t ltd is also active in the funding of solar projects in india . 22 23 electrical and automation edit l & t is an international manufacturer of electrical and electronic products and systems . the company also manufactures custom engineered switchboards for industrial sectors like power refineries petrochemicals and cement . 24 in the electronic segment l & t offers a range of metres and provides control and automation systems for industries . medical equipment . 25 information technology it edit main article larsen & toubro infotech larsen & toubro infotech limited a wholly owned subsidiary of l & t offers information technology software and services with a focus on manufacturing bfsi and communications and embedded systems . it also provides services for embedded intelligence and engineering . machinery and industrial products edit l & t manufactures markets and provides service support for construction and mining machinery including surface miners hydraulic excavators aggregate crushers loader backhoes and vibratory compactors ; supplies rubber processing machinery and manufactures and markets industrial valves and allied products along with application engineered welding alloys . citation needed ewac alloys limited edit ewac alloys limited is a wholly owned subsidiary of larsen & toubro india . the company is engaged in design & development manufacture and supply of special welding electrodes gas brazing rods and fluxes welding torches and accessories atomised metal powder alloys flux cored continuous wires & wire feeders polymer compounds & wear resistant plates . prof wasserman founder of eutectic castolin and henning hock larsen founder of larsen & toubro founded the eutectic division in india in the year 1962 . eutectic castolin was later merged into the messer group of companies germany and referred as messer eutectic castolin mec . in 2010 larsen & toubro limited bought the entire stake from messer to become the wholly owned subsidiary of it . the current headquarters is in ankleshwar gujarat india and the products are sold under the name ewac . major subsidiaries and joint ventures edit l & t has over 130 subsidiaries and 15 associate companies . 26 l & t kobelco machinery private limited this is a joint venture of l & t and kobe steel of japan to manufacture internal mixers and twin screw roller head extruder s for the tyre industry . the company has a factory at karai village kanchipuram that manufactures internal mixers and twin screw roller head extruder s for the tyre industry which commenced commercial operations on 1 december 2012 . l & t construction equipment limited having its registered office at mumbai india and focusing on construction equipment and mining equipment l & t komatsu limited 27 was a joint venture of larsen and toubro and komatsu asia pacific pte limited singapore a wholly owned subsidiary of komatsu limited japan . komatsu is the world s second largest manufacturer of hydraulic excavators and has manufacturing and marketing facilities . 28 the plant was started in 1975 by l & t to manufacture hydraulic excavators for the first time in india . in 1998 it became a joint venture . the bengaluru works comprises machinery and hydraulics works with a manufacturing facility for design manufacture and servicing of earth moving equipment . the hydraulics works has a precision machine shop manufacturing high pressure hydraulic components and systems and designing developing manufacturing and servicing hydraulic pumps motors cylinders turning joints hose assemblies valve blocks hydraulic systems and power drives as well as allied gear boxes . in april 2013 l & t bought the 50 % stake held by komatsu asia & pacific . the company s name was changed to l & t construction equipment limited . 29 30 l & t finance larsen & toubro financial services financial services is a subsidiary which was incorporated as a non banking financial company in november 1994 . 31 the subsidiary has financial products and services for corporate construction equipments etc. this became a division in 2011 after the company declared its restructuring 32 a partnership between l & t finance and sonalika group farm equipment maker international tractors ltd in april 2014 provided credit and financing to customers of sonalika group in india . 33 l & t mutual fund is the mutual fund company of the l & t group . its average assets under management aum for the quarter jul 2013 to september 2013