Asked about the future investment plans, Nayak said a major portion of the company's capital expenditure - Rs.2,000 crore - will go for its two power equipment joint ventures with Japan's Mitsubishi.

L&T, which has 6.9 percent stake in Satyam Mahindra - formerly Satyam Computers - has approached the market regulator, Securities and Exchange Board of India (SEBI), for permission to sell that stake to raise resources.

At present there is a six-month lock-in period for selling stake in the fraud-hit Satyam Mahindra.

Nayak added that L&T was also planning to set up a separate division to attract more business from the railways.

'The current order book from the railways business is Rs.3,000 crore. We have set up marketing and design teams,' Nayak said.