New Delhi, May 8 -- A surge in international business, particularly from the Middle East, helped India's largest engineering and infrastructure company Larsen & Toubro (L&T) grow its order book at a compounded annual rate of over 15% between FY21 and FY25, even as growth in domestic orders chugged along at a slower pace.

The company believes that growth in international business will once again outpace domestic business expansion in FY26. It sees a business prospect pipeline of Rs.12 trillion from international markets compared to Rs.7 trillion from the domestic market during the year. This includes upcoming contracts that the company has identified for bidding. L&T usually wins 20-25% of the contracts it bids for.

"There is a massive i...