Jayant D Patil spearheaded L&T’s foray into the defence industry in 1986, at a time few other private companies saw any promise in the heavily regulated industry. Patil, who joined the infrastructure heavy weight straight after passing out from IIT Mumbai in 1978, developed long-term relationships with the DRDO, and the Navy, among other defence establishments.
The early start is now helping the engineering giant. In 13 years since its debut in the market, L&T has become the largest private defence company in the country, and is bigger than most of the government-owned defence enterprises.
In an exclusive interview with Moneycontrol, Patil – Member of the Board & Whole-Time Director (Defence Business) at L&T – says that defence is one of the fastest growing businesses in the company.
To reflect the growing importance of the vertical, the defence business is now an ‘independent company.’ And starting from this financial year, L&T will report the defence segment as a separate entity within its core businesses. Read More…