L&T management said that the company leveraged the debt 5.5-6x and added Rs 9000 crore debt to consolidated balance sheet. The company is looking at long-term solution to separate the finance business from the balance sheet.

The management sees L&T Finance candidate for value unlocking ahead of L&T Infotech. The company is working on structuring of L&T Finance which is today is diversified business. The company targets 2010-11 for possible listing of L&T Finance. The company will raise Rs 500 crore for L&T Finance via NCDs, the management added.