L&T rises after construction arm bags 'significant' orders

Larsen & Toubro (L&T) added 1.07% to Rs 2,232 after the EPC major announced that its construction arm has secured 'significant' orders for its Water & Effluent Treatment and Buildings & Factories business.

As per L&T classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore.

The EPC company said that the Water & Effluent Treatment Business of L&T Construction has secured a repeat order from the Drinking Water & Sanitation Department, Government of Jharkhand to execute a raw water transport system on turnkey basis from the proposed intake at Neghra, Rajmahal in Sahibganj district to Sundar Dam in Godda district.

The project will provide bulk raw water to villages in Sahibganj, Godda and Dumka districts of Jharkhand. The aggregate scope of work includes 209 MLD intake system, raw water main system comprising MS pipeline of 87 km and DI pipeline of 30 km, 6 ground level service reservoirs of 163 ML aggregate capacity and 5 pumping stations along with associated electrical, mechanical, instrumentation & automation works including operation & maintenance.

The business has executed the Sahibganj and Dhanbad water supply projects for the same customer.

Further, L&T stated that the Building & Factories Business of L&T Construction has also won an order from a developer to construct residential towers in Bengaluru.

The scope of the work involves design and build of civil structure including waterproofing, masonry and plastering for 10 towers comprising two basements, ground and varying configurations of 26, 31 & 32 floors. The project is to be executed within stringent timelines.

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

The company posted a consolidated net profit of Rs 2,553 crore in Q3 FY23, registering a growth of 24% from Rs 2,055 crore recorded in Q3 FY22. Net sales rose 17.3% year on year to Rs 46,389.72 crore in Q3 FY23.

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