A momentous event took place at the Jio World Convention Centre in Mumbai as A M Naik, the esteemed leader of Larsen & Toubro (L&T), stepped aside from his role as Group Chairman, entrusting the reins of the US$ 23 billion conglomerate to S N Subrahmanyan. At the age of 81, Naik’s new role will see him as the chairman of L&T’s IT companies and the employees’ trust. However, his primary focus remains on scaling up the numerous philanthropic initiatives that he has passionately undertaken in recent years.
The ceremony, attended by approximately 1,500 senior employees and several former directors of L&T, marked a significant transition in the corporate world. In recognition of Naik’s immense contributions, India Post honored him by unveiling a postage stamp. Additionally, L&T’s former directors and Naik’s family members unveiled the cover of his forthcoming biography, ‘The Man Who Built Tomorrow,‘ which is set to be published by Harper Collins.
Looking ahead, Naik’s unwavering dedication will be directed towards his diverse philanthropic endeavors, including the Naik Charitable Trust, which focuses on education and skill-building for the underprivileged, and the Nirali Memorial Medical Trust, dedicated to providing super specialty healthcare at subsidized costs.
Under the auspices of these two trusts, Naik has spearheaded the construction of five hospitals, six schools, and three wedding/thread ceremony halls in Gujarat and Mumbai. Moreover, he has adopted and transformed 40 schools, dramatically upgrading their infrastructure and learning environments.
As a result of Naik’s consistent efforts over the years, the Edelgive Hurun India Philanthropy list has recognized him as the country’s most generous corporate professional for three consecutive years. In the fiscal year 2021-22 alone, Naik committed a staggering Rs 142 crore to philanthropic causes.
Hailing from a family of educators in Gujarat, Naik began his journey with L&T in 1965 as a junior engineer. Over nearly three decades in leadership roles, he played a pivotal role in helping L&T achieve its present size and stature. Here’s a glimpse of his remarkable achievements across the decades:
1985 – 1995: Naik established a world-class heavy engineering and manufacturing facility at Hazira, now known as the A M Naik Heavy Engineering Complex.
1995 – 2005: He founded the L&T Employees’ Trust to safeguard L&T’s unique professional character.
2005 – 2015: Naik’s visionary IT strategy paid off handsomely with the exponential growth of L&T’s IT and Technology Services business. He aligned L&T with India’s national priorities, transforming it into a dependable partner for major national endeavors.
A M Naik’s journey from a junior engineer to a transformative leader, coupled with his unwavering commitment to philanthropy, continues to inspire generations of corporate professionals and showcases the profound impact one individual can have on business and society alike.