L&T gains on winning significant orders

Larsen & Toubro (L&T) rose 1.19% to Rs 1414 after the company said its construction arm secured 'significant' orders for its various businesses.

The heavy civil infrastructure business of L&T Construction has secured an EPC order to construct a new four-lane bridge across river Ganga on the newly declared NH-131B at Bhagalpur in the state of Bihar. The project is scheduled to be completed in 48 months.

The water & effluent treatment business of L&T Construction has bagged a design, build and operate order from Municipal Corporation, Amritsar for engineering, procurement & construction of bulk water supply system in the city of Amritsar.

The project is part of Punjab Municipal Services Improvement Project (PMSIP) and is funded by the International Bank for Reconstruction and Development (IBRD), the lending arm of World Bank Group. The project aims to migrate from rapidly depleting and contaminated decentralized ground water sources to centralized surface water source to supply potable water to the city, to achieve sustainability.

The buildings & factories business of L&T Construction has secured an order from a prestigious client to construct a commercial office space at Gurgaon with a built-up area of 1.2 Mn sq. ft. The scope of works includes civil/structure works & common area finishes.

The factories arm of the business has secured an order from a leading Indian paint manufacturer to construct a paint manufacturing plant in Sandila, Uttar Pradesh. The scope of work involves civil, structural and piling works.

According to L&T's classification, the value of the said orders lies between Rs 1,000 crore to 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.

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