L&T construction arm bags 'significant' contract

The EPC major on Thursday (15 September 2022) announced that its construction arm has secured a 'significant' contract for its water & effluent treatment business.

As per Larsen & Toubro's (L&T) classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore.

The water & effluent treatment business of L&T construction has secured a repeat order from the Department Of Water Resources, Government of Odisha, to execute a pressurized underground pipeline irrigation network system for the Right Command of Lower Suktel Irrigation project.

The company said that the project envisages to provide water to irrigate 27,000 hectare (Ha) of Culturable Command Area (CCA) in the Balangir district of Odisha. The project scope involves survey, design, engineering, supply, laying, installation & commissioning of MS, DI & high-density polyethylene (HDPE) pumping main & distribution network with all allied electromechanical & automation works, it added.

The order from the irrigation sector reiterates the customer's confidence in L&T's business capability to meet the requirements of farmers and help in the development of agriculture across the state, the company stated.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

The EPC major's consolidated net profit surged 44.9% to Rs 1,702.07 crore on 22.2% jump in net sales to Rs 35,853.20 crore in Q1 FY23 over Q1 FY22.

Shares of Larsen & Toubro were up 0.38% to Rs 1,962.50 on the BSE.

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