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L&T wins large orders for PT&D business

Capital Market 

The power transmission & distribution (PT&D) business of Larsen & Toubro has won a slew of orders across its spectrum of offerings.

According to L&T's classification, the value of 'large' contract lies between Rs 2,500 crore to Rs 5,000 crore.

PT&D has secured two EPC orders to establish more than 400 MW solar photovoltaic projects in the state of Gujarat.

A 765kV double circuit transmission line package has been received through a project specific transmission company.

In West Bengal, orders have been received to supply and install high voltage distribution systems in certain districts on a turnkey mode. This grid modernization programme in semi-urban and rural areas is being implemented by the state with multilateral assistance. Another order to construct 220kV and 132kV transmission lines has been won from the state transmission utility.

Further, the business has won a 400 kV substation order in Tamil Nadu. In Qatar, the business has won an order to install line connected current limiting reactors for the first time in the country's network.

Commenting on the development, T. Madhava Das, whole-time director & senior executive vice president (utilities), L&T said, "These orders stand testimony to the fact that L&T is uniquely positioned as a dependable EPC player to deliver projects ranging from electrification to energy transition with speed and scale, to utilities and developers globally."

Shares of Larsen & Toubro (L&T) were down 3.61% at Rs 1453.35. Meanwhile, the BSE Sensex slumped 1001 points or 1.97% to 49,888.61.

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 infrastructure major's net profit rose 4.87% to Rs 2466.71 crore on 1.78% decline in revenue from operations to Rs 35,596.42 crore in Q3 December 2020 over Q3 December 2019.

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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, February 22 2021. 14:37 IST