L&T climbs on bagging orders

Larsen & Toubro (L&T) gained 0.87% to Rs 925.3 after the construction arm of the company secured 'large' orders from various clients.

The commercial and residential spaces arm of buildings & factories business has won orders from a reputed developer to construct a residential project and an office space in Mumbai.

The factories arm business has received an order from a leading global shipping & logistic company for the design and construction of warehousing logistics park at Mumbai. The factories arm has also secured a prestigious order for construction of 4000 TPD capacity clinker plant in Odisha.

Further, the business has also received add on orders for ongoing projects in Andhra Pradesh, Karnataka & Tamil Nadu.

The water & effluent treatment business has secured an order from Punjab Water Supply & Sewerage Board, for providing 24x7 surface-based water supply to Patiala town. Another order has been secured from Gujarat Water Infrastructure for design, construction, and operation of Navda to Chavand bulk water transmission pipeline project in Gujarat.

Meanwhile, a repeat order from Bangalore Water Supply and Sewerage Board has been secured by the business for the construction of ground level reservoirs with associated mechanical, electrical & instrumentation works, along western route (CP 13) of Bengaluru, Karnataka.

Moreover, railways strategic business of transportation infrastructure has won order from National Capital Region Transport Corporation (NCRTC).

As per the L&T's classification, the valuation of the 'large' order stands between Rs 2,500 crore and Rs 5,000 crore. The announcement was made during market hours today, 21 October 2020.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

On a consolidated level, L&T reported a 67.3% decline in net profit to Rs 645.07 crore in Q1 June 2020 from Rs 1,972.52 crore in the same period last year. Net sales stood at Rs 21,259.97 in Q1 FY21, declining 28.3% from Rs 29,635.95 crore in Q1 FY20.

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