New Delhi, March 8 -- Larsen & Toubro (L&T), India's leading infrastructure and defence conglomerate, is expanding its footprint in the aerospace sector, focusing on launch vehicle and satellite manufacturing.

This move aligns with India's efforts to reduce dependency on imports and increase private participation in the space industry.

L&T, the largest private-sector defense manufacturer in India by revenue, reported a significant 41 per cent increase in revenue for its Precision Engineering and Systems unit, reaching 46.10 billion rupees (USD 548.3 million) in the 2024 fiscal year.

At its Coimbatore facility in Tamil Nadu, L&T is spearheading the assembly of India's first privately built Polar Satellite Launch Vehicle (PSLV) through a...