L&T secures large deals from Chennai Metro Rail Corporation

The construction arm of Larsen & Toubro (L&T) has secured large orders for its heavy civil infrastructure business in India.

The business has secured an order from Chennai Metro Rail Corporation (CMRC) to construct nearly 12 km twin bored tunnels from Kellys station to Taramani Road Junction station. It also involves construction of diaphragm walls of station box and entry/exit structures of Chetpet Metro, Royapettah Govt. Hospital, Thiruvanmiyur Metro Stations and part diaphragm wall of Greenways Road Metro Station, including launching and retrieval shafts in these stations.

The business has also secured another order from CMRC to construct approx 8 Km of elevated viaduct with 9 elevated metro stations starting from Power House to Porur Junction including other associated works.

These projects are the first packages of Phase-II which have been awarded by CMRC.

According to Larsen & Toubro (L&T)'s classification, the value of the said orders lies between Rs 2,500 crore to Rs 5,000 crore.

On a consolidated basis, L&T's net profit rose 5.4% to Rs 2,849.06 crore on 1.8% decline in revenue from operations to Rs 35,596.42 crore in Q3 December 2020 over Q3 December 2019.

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

Shares of L&T skid 0.47% to Rs 1,378.40 on BSE. The stock hovered in the range of Rs 1,374.95 to Rs 1,404.50 so far.

Powered by Capital Market - Live News