Chairman and managing director of L&T, A M Naik told reporters at the conclusion of the company's 54th annual general meeting that the SPVs would be set up with a minimum capital base of Rs 100 crore each.

The company's fortunes in the current year and in the next few years would depend upon the general trend of cement prices and the demand for industrial products. The company has identified engineering and construction,cement, information technology and power as its major areas of focus.