 "Larsen & Toubro wins major power transmission orders in India, overseas")
Larsen & Toubro’s (L&T) Power Transmission & Distribution (PT&D) vertical has secured multiple significant contracts for infrastructure projects in India and international markets, the company said in an exchange filing on Monday. The new orders reinforce its role in developing global power networks.
L&T's domestic orders
In India, L&T has been awarded a contract to build 765kV and 400kV transmission lines linked to a Renewable Energy Zone in Uttar Pradesh. Additionally, the company has secured an order for the turnkey construction of a 400kV transmission line in southern India, intended to evacuate power from a non-fossil fuel-based power plant.
L&T's international orders
Internationally, L&T has received an order in Saudi Arabia for a 380kV Gas Insulated Substation (GIS), which will include the installation of associated reactors and hybrid GIS bays. In Abu Dhabi, the company has been contracted to develop a new 220/33kV grid station along with other related infrastructure.
These contracts highlight L&T’s continued partnerships with key clients and its contribution to the expansion of power infrastructure across various regions. The company emphasised that these projects will facilitate the accelerated growth of renewable energy generation by strengthening transmission networks.
According to L&T’s internal classification, these new contracts fall into the "large" order category, indicating a value between Rs 2,500 crore and Rs 5,000 crore.
L&T profits rise 14 per cent in Q3
L&T reported a 14 per cent rise in net profits for October-December quarter, reaching Rs 3,358.8 crore, up from Rs 2,947.36 crore last year. Net sales grew 17 per cent to Rs 64,667 crore. The results missed analyst estimates which had predicted an adjusted net income of Rs 3,771 crore and revenue of Rs 64,742 crore.
L&T’s order backlog reached a record Rs 5.64 trillion by December 2024, with new orders totaling Rs 1.16 trillion, a 53 per cent increase from last year.
L&T maintained its FY25 guidance for 15 per cent revenue growth, 10 per cent higher order flows, and core margins at 8.25 per cent, though management noted they are well-positioned to exceed these targets.