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L&T construction business bags significant orders

Capital Market 

Larsen & Toubro (L&T) said that its construction arm had secured significant orders from clients for its varied businesses.

The buildings & factories business of L&T Construction had secured a design & build lump sum Turnkey order from a client in India to construct a grade - A office space in two locations in Bangalore.

The water & effluent treatment business of L&T Construction had bagged an order from Punjab Water Supply & Sewerage Board to provide surface-based bulk drinking water supply to Jalandhar town on design, build, operate and transfer basis.

L&T GeoStructure had been awarded projects to construct down and up lines of a bypass grade separator in Katni district, Madhya Pradesh. The announcement was made during market hours today.

According to the company's classification, the valuation of the said projects lies between Rs 1,000 crore to Rs 2,500 crore.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

On a consolidated level, L&T reported a 67.3% decline in net profit to Rs 645.07 crore in Q1 June 2020 from Rs 1,972.52 crore in the same period last year. Net sales stood at Rs 21,259.97 in Q1 FY21, declining 28.3% from Rs 29,635.95 crore in Q1 FY20.

The scrip shed 0.12% to currently trade at Rs 916.50 on the BSE. It had traded in the range of 914.60 and 924 so far during the day.

Shares of L&T have tumbled 32.82% in the past one year while the benchmark S&P BSE Sensex rose 4.69% during the same period.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 14 2020. 11:16 IST