L&T says construction arm bags 'significant' contracts

The transportation infrastructure business of L&T Construction has secured 'significant' order to extend the mainline corridor of the Mauritius Metro by 3.4 km from Metro Express (MEL), Mauritius.

The project involves the construction of a fully integrated light rail based Urban Transit System from Rose Hill Interchange towards Ebene reaching Reduit near the University of Mauritius.

The railways strategic business group of transportation infrastructure business has also secured an order from Uttar Pradesh Metro Rail Corporation Limited (UPMRCL). The scope of works includes design, installation, testing & commissioning of ballastless track of standard gauge in 4 corridors in elevated as well as underground sections of Kanpur and Agra Metro Projects along with supply of fastening systems and associated ballasted/ballastless tracks in 4 depots. This order has been secured against stiff competition from various local and major multi-national companies.

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 company's net profit surged 115.20% to Rs 5876.54 crore on 12.2% decline in net sales to Rs 31,034.74 crore in Q2 September 2020 over Q2 September 2019. L&T will announce Q3 FY21 result on 25 January 2021.

The scrip shed 1.30% to currently trade at Rs 1532.65 on the BSE.

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