The Business Bytes
TBB BUREAU
BHUBANESWAR, MAY 26, 2022
Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, has been named as the ‘Second Strongest Brand’ among the top 50 Global Engineering and Construction (E&C) companies – by Brand Finance, the world’s leading brand valuation consultancy.
L&T has also been ranked as the ‘Third Fastest Growing Brand’ by the London-based consultancy in its ‘Engineering & Construction 50 – 2022’ report. It is the only Indian company among the ‘Most Valuable Global E&C Firms’. L&T with its footprint across 50 countries has gained 44% in its Brand Value over last year.
Commenting on this achievement, an L&T spokesperson, said: “Brand is about so much more than just a name or a logo. It’s about trust, reputation, value systems and credibility. We are honoured to be recognized as the Second Strongest Global Brand in the Engineering and Construction space by Brand Finance. This recognition is a testament to our team’s commitment to excellence and our clients’ trust in our ability to deliver on our promises.”
“We are excited to see what the future holds for our brand and our business. With continued growth and expansion into new markets and new sectors, we are confident that we will continue to build on our strong foundation and solidify our position as a leading player in the global industry.”
L&T achieved a significant improvement in its brand strength, with its Brand Strength Index (BSI) increasing by 7.1 points, to 83.9 out of 100, with a corresponding rating of AAA. Among the ‘Most Valuable E&C 50 2022’ brands L&T is the only Indian brand present there.
Brand L&T is known for providing technological impetus for key sectors such as infrastructure, construction, hydrocarbon, heavy engineeringand defence engineering. The company’s reputation for delivering on difficult projects has earned L&T a spot in the industry’s elite. It has some of the largest, longest and tallest construction projects around India and the world to its name – proof that the technology-driven E&C brand can tackle any challenge with ease!
Every year, Brand Finance puts 5,000 of the world’s biggest brands to the test, and publishes around 100 reports, ranking brands across all sectors and countries. The Engineering and Construction industry’s top 50 most valuable and strongest brands in the world are included in the annual Brand Finance Engineering & Construction 50 ranking.
In its sixth consecutive study, Brand Finance has covered 36 countries and 29 sectors with over 100,000 respondents surveyed annually. The brand valuation consultancy defines Brand Value as the present value of earnings specifically related to brand reputation, while Brand is described as a marketing-related intangible asset.
Each brand is assigned a Brand Strength Index (BSI) score out of 100 by Brand Finance, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format like a credit rating by the valuation consultancy.
