Indian Laurel is an entirely different species from bay laurel used in cookery, it is a hard, but very lightweight timber with fine interlocking grain. In Hawaii it is known as Kamani wood, and is used in the construction of canoes.  It is also a tonewood and can be used for making instruments. 

Usually grown as a decorative garden species, or commercially for the high quality oil that can be pressed from its seeds, it isn't widely available as timber.