NAIK 2 LAST (BCM3)

Accordingly, Naik said the company has "identified select Accordingly, Naik said the company has "identified selectgrowth businesses in L&T’s broad portfolio. These include IT,technology services, defence, smart world and watermanagement. "Our strategic plan involves re-allocation of resources -both talent and capital – to businesses with visible valuecreation potential. As most of these are also asset-lightbusinesses, the initiative will be in line with our largerobjective of building an asset-light organisation". He also said this growth will be a technology-drivenleadership drive and the mission is profitable growth throughtechnology leadership. "Since 2000, we have developed and rigorously implementeda five-year strategic planning process. We are now in thefourth wave of this programme," he said, adding that toachieve the set objectives, the company has partnered with twoglobal strategic consultancies. Naik, who will turn 75 in 2017, has pledged nearly 75 percent of his wealth for philanthropy. "I was motivated by my grandfather and father to give backsomething to the society. In 1995, I donated Rs 4 lakh forconstructing one floor to a hospital in my village. I am alsobuilding a CBSE school and a hospital close to L&T’s Powaicampus," he said. Apart from this, Naik is also keen on developing a vedicschool. "I keep donating to marriage halls, thread ceremony halls,etc. I want to promote Vedic education and I’ve alreadydonated for a school which is coming up in an ashram inGujarat for the purpose," he added. He already runs two charitable trusts – The NaikCharitable Trusts for Education & Skill Training and theNirali Memorial Medical Trust, named after his granddaugther,who died of cancer in 2007. PTI PSK BEN ARSSARDS