L&T Construction bags 'significant' contracts for its various businesses

Larsen & Toubro (L&T) said that its construction arm has secured 'significant' orders for its various businesses.

The Water & Effluent Treatment Business of L&T Construction has secured a contract from the Rural Drinking Water & Sanitation Division, Karnataka to construct drinking water supply facilities for 396 rural habitations in the districts of Dharwad and Belagavi from the Renukasagar Reservoir (Navilutheertha dam) on a design, build, operate and transfer mode under the Multi Village Drinking Water Supply Scheme.

The business has already completed the Gadag Water Supply Project and is presently executing the Koppal Water Supply Project for the same client.

L&T GeoStructure (LTGS) has bagged a strategic order from Tata Chemicals, to commission a jetty-based marine outfall system and allied works including construction, procurement and installation of HT pumphouse, jetty mounted piping system (approx. 3.5 kms) and diffuser system in the Gulf of Kutch, at Mithapur, Gujarat.

L&T GeoStructure is a subsidiary of L&T that is focused on ground engineering business.

The power transmission & distribution business has secured a 500kV transmission line project in the Philippines, to be executed along with an onshore partner, that will form part of the transmission backbone to meet the growing demand for electricity in the western parts of Luzon, Philippines.

As per L&T's classification, the value of the said contracts lies between Rs 1,000 crore and Rs 2,500 crore.

L&T 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 fell 16.70% to Rs 2,054.74 crore on 11.14% increase in net sales to Rs 39,562.92 crore in Q3 FY22 over Q3 FY21.

The scrip fell 1.28% to currently trade at Rs 1828.25 on the BSE.

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