L&T gains after construction unit bags 'significant' orders

Larsen & Toubro (L&T) rose 1.47% to Rs 1661.75 after the company's construction arm won 'significant' orders in India and abroad for its various businesses.

L&T Construction's buildings & factories business has secured an order to construct multilevel parking and advocates chamber for the High Court at Allahabad with an approximate built-up area of 20 lakhs sq. ft. The project is scheduled to be completed in 27 months.

The power transmission & distribution business has bagged an order for the turnkey construction of a substation in Saudi Arabia. The scope of the gas insulated substation project involving four different voltage levels up to 380kV comprises the associated control, protection, automation, telecommunication systems and civil & electromechanical works.

 

The smart world & communication business has bagged yet another smart city project. The project has been awarded by the Moradabad Smart City to design, develop, implement, and manage the operations & maintenance of a command-and-control centre (CCC), CCTV surveillance, smart traffic solutions, and to integrate various ICT components with an integrated command and control center platform (ICCC) for Moradabad, Uttar Pradesh.

According L&T's classification, the value of the said contracts lies between Rs 1,000 crore to Rs 2,500 crore.

L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 30 countries worldwide.

The company's consolidated net profit soared 141.2% to Rs 1,556.18 crore on a 38% jump in revenue from operations to Rs 29,334.73 crore in Q1 June 2021 over Q1 June 2020.

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