L&T arm wins "significant" orders

The construction arm of Larsen & Toubro (L&T) has secured orders for its businesses in India.

The Metallurgical & Material Handling (MMH) business has been awarded an engineering, procurement & construction (EPC) order for 12 MTPA dry circuit systems on a turnkey basis for a screening plant (SP-Ill) from NMDC at their Kirandul Complex, Chhattisgarh. The scope of work includes tertiary crushing, 2-stage screening, stacking, reclaiming and dispatch of iron ore along with the associated civil, structural, E&l and other auxiliary facilities.

The buildings & factories (B&F) business has secured a prestigious order from DRDO to construct their flight control system facility at ADE, Bengaluru. The project involves construction of a 1.2 lakh square feet facility consisting of Ground + 6 floors in a timeline of 4 months.

According L&T's classification, the value of 'significant' contracts lies between Rs 1000 crore to Rs 2,500 crore.

L&T's consolidated net profit fell 67.04% to Rs 1819.45 crore on 12.05% increase in net sales to Rs 34772.90 crore in Q2 September 2021 over Q2 September 2020.

The consolidated order book of the group was at Rs 330,541 crore as on 30 September 2021, at near record levels, with international orders having a share of 23%.

L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services.

Shares of L&T were up 0.59% at Rs 1920. The stock hit a high of Rs 1951.30 and a low of Rs 1913.25 so far during the day.

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