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Friday, November 27, 2009

L&T says Dubai exposure at $20-$25 mln

Indian engineering conglomerate Larsen & Toubro's exposure to Dubai is in the range of $20 million to $25 million, a senior company official told a television channel on Friday.

Developer DLF and Punjab National Bank said they had no current exposure to Dubai.a

"The expopsure is somewhere between $20 million to $25 million in terms of several retention amounts which are due, which if things go from bad to worse can become suspect receivables," L&T's executive vice president, Shankar Raman, told .

"We have no exposure as yet," R.I.S. Sidhu, chief general manager at Punjab National Bank, said over the telephone.

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GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jun 30
06:30 ANZ Activity Outlook 1 34.8
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06:30 TD-MI Inflation Gauge (MoM) 1 -0.4%
06:30 TD-MI Inflation Gauge (YoY) 2 2.6%
07:00 Private Sector Credit (MoM) 1 0.7% 0.7%
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