Larsen & Toubro has announced the execution of a Business Transfer Agreement for the transfer of its e-commerce platform business to a wholly owned subsidiary. The transaction, executed on February 24, 2026, involves the transfer of the SuFin business pertaining to industrial and construction goods to SuFin Limited through a slump sale arrangement.

Transaction Details

The business transfer involves several key parameters that highlight the scope and financial implications of the deal:

The transaction is structured as a related party transaction and is being carried out at arm's length, ensuring compliance with regulatory requirements.

Financial Performance of SuFin Business

The SuFin business being transferred represents a relatively small portion of Larsen & Toubro's overall operations. The financial metrics for FY 2024-25 demonstrate the business unit's contribution:

These figures indicate that while the SuFin business maintains a positive net worth, it constitutes a minimal percentage of the company's total revenue and net worth.

Entity Details and Business Areas

SuFin Limited was incorporated on January 2, 2026, as a newly formed company specifically to carry on the e-commerce platform business for industrial and construction goods. The company currently has nil revenue as it was recently incorporated.

Larsen & Toubro Limited, with standalone revenue of ₹1,42,509.01 crore for FY 2024-25, operates as a diversified industrial conglomerate. The company's business spans multiple sectors including:

• Construction and engineering
• Manufacturing and technology
• Global infrastructure and industrial machinery
• Precision engineering and hydrocarbon
• Heavy engineering and energy
• Ship building, aerospace, mining and minerals

Regulatory Compliance

The proposed transaction is undertaken through a Business Transfer Agreement and falls outside the Scheme of Arrangement. According to the company's disclosure, the SuFin business does not meet the threshold requirements for an "Undertaking" under Section 180(1)(a) of the Companies Act, 2013, and Regulation 37A of SEBI LODR Regulations.

The transaction has been structured to ensure full compliance with SEBI Listing Regulations and the master circular requirements. The company has provided comprehensive disclosures as mandated under Regulation 30 of SEBI LODR, ensuring transparency for stakeholders and regulatory authorities.

Larsen & Toubro has announced a groundbreaking strategic partnership with NVIDIA to build India's largest gigawatt-scale AI factory under the India AI Mission. The venture aims to establish sovereign, scalable AI infrastructure that will reinforce India's position as a global AI powerhouse, serving both domestic and international requirements.

Strategic Partnership Details

The partnership integrates L&T's engineering, infrastructure development, and execution capabilities with NVIDIA's comprehensive AI infrastructure. This includes NVIDIA GPUs, CPUs, networking solutions, NVIDIA-accelerated storage platforms from leading providers, the NVIDIA AI Enterprise software stack, and reference architectures designed to enable rapid and secure AI adoption.

Infrastructure Development and Capacity

The venture will deploy AI-ready datacenter infrastructure and advanced computing platforms to support large-scale AI workloads across priority sectors. The partnership plans to scale NVIDIA GPU cluster deployment significantly across two key locations.

Market Applications and Services

The AI factory model is designed to deliver advanced AI services to multiple stakeholders including global off takers, hyperscalers, and Indian enterprises. The infrastructure will support various sectors in moving from experimentation to production-scale deployment.

Target Sectors:

• Manufacturing
• Infrastructure
• Energy
• Financial services
• Healthcare
• Public services

The venture will provide standardized, enterprise-grade AI capabilities, enabling predictable performance, security, and time-to-value for industrial and services use cases.

Leadership Perspectives

Mr. S. N. Subrahmanyam, Chairman & Managing Director L&T, emphasized the readiness of Indian enterprises to transition from AI pilots to production-scale deployment. He highlighted that the investment establishes the secure, scalable, and sovereign infrastructure foundation required to power various sectors and deliver measurable economic impact through AI.

Mr. Jensen Huang, Founder and CEO of NVIDIA, described AI as driving the largest infrastructure buildout in human history. He praised Prime Minister Modi's vision to democratize AI access across the Global South and position India as a global hub for digital infrastructure, noting L&T's 88-year legacy as an engineering and nation-building leader.

Innovation and Internal Applications

The partnership will enable L&T and its group companies to deploy live AI agents on Sovereign Cloud, fostering a self-sustaining innovation hub. This includes LTTS's Lights-Out Factory framework leveraging NVIDIA Omniverse libraries, LTM's Blueverse, LTFS's agentic AI deployment, and L&T's internally developed AI agents.

Strategic Vision

The venture aligns with the India AI Mission's vision of "Making AI in India and Making AI Work for India." The infrastructure is designed to be sovereign by design, optimized for accelerated computing, and ready to serve both global and domestic AI demand at national scale. This initiative represents a significant step toward establishing India as a strategic AI hub with interoperability to global ecosystems while maintaining data sovereignty.