L&T construction arm bags significant orders

The construction arm of Larsen & Toubro (L&T) has secured 'significant' orders from its prestigious client for two businesses.

The water & effluent treatment business of L&T Construction has secured EPC orders from the Rural Water Supply and Sanitation Department, Odisha to execute individual rural water supply projects in the Kendrapada & Khorda Districts of Odisha.

The business is already executing several other rural water supply projects for the same client.

The business has also secured a repeat order from the Water Resources Department of Odisha to construct an intake structure and pressure main along the right bank of Bargarh Main Canal of the Gangadhar Mehar Lift Irrigation Project in Bijepur, Odisha on EPC-turn key basis.

Further, the factories arm of buildings & factories business has secured an order from a leading cement manufacturer in India to construct a 10000 tons per day (TPD) integrated cement plant in Pali, Rajasthan. The scope involves civil, mechanical and equipment installation works.

According to L&T's classification, the value of the contract lies between Rs 1,000 crore and Rs 2,500 crore.

L&T is an Indian multinational engaged in engineering, procurement and construction projects, manufacturing, defence and services with over $21 billion in revenue.

On a consolidated basis, the infrastructure major's net profit rose 4.87% to Rs 2466.71 crore on 1.78% decline in revenue from operations to Rs 35,596.42 crore in Q3 December 2020 over Q3 December 2019.

The scrip shed 0.56% to Rs 1475.85 on the BSE.

Powered by Capital Market - Live News