L&T wins big projects to build homes in Mumbai, Bengaluru and Chennai

The total value of these projects is between Rs 1,000 crore and Rs 2,500 crore, covering the construction of high-rise luxury residential towers across three metros

Infrastructure major Larsen & Toubro (L&T) has won a number of projects to build residential towers in Mumbai, Bengaluru, and Chennai. The company shared this update on Wednesday. According to the announcement, L&T’s buildings and factories division will handle these projects. 

 

The total value of these projects is between Rs 1,000 crore and Rs 2,500 crore. Along with these new projects, L&T has also received extra orders for its ongoing work.

 

The Mumbai project comprises two luxury high-rise towers reaching heights of up to 273 meters. The Bengaluru project comprises 14 luxury towers on design and build basis, and the Chennai project comprises 25 luxury towers to be marketed on design and build basis.

   

Valued at $27 billion, Indian multinational L&T specialises in engineering, procurement, and construction projects, as well as high-tech manufacturing and services. 

 

L&T Financials

 

According to the media reports, for the fiscal year ending March 31, 2024, L&T reported consolidated revenues of Rs 2.21 trillion, marking a 21 per cent increase compared to the previous year. This growth was driven by strong execution across various projects and a robust order book.

 

L&T achieved a record order inflow of Rs 1.16 trillion during the third quarter of the fiscal year, with over half of these orders originating from international markets, particularly the Middle East.

 

The company reported a consolidated net profit of Rs 33.59 billion for the third quarter, reflecting a 14 per cent increase Y-o-Y. However, this figure fell short of market expectations, which had anticipated a profit of Rs 38.31 billion.

 

International operations contributed significantly to L&T’s performance, accounting for 52 per cent of the total revenue in the second quarter, with a 46 per cent growth in these markets.

 

[With inputs from PTI]