Larsen & Toubro 1(L&T) advanced 1.09% to Rs 3,828.75 after the company's power transmission & distribution (PT&D) vertical secured 'Mega' order in the Middle East for expanding and strengthening the electricity grids at high voltage level.
As per Larsen & Toubro (L&T) classification, the value of the mega contract lies between Rs 10,000 crore to Rs 15,000 crore.
The different operating regions in Saudi Arabias national electricity network are being interconnected through High Voltage Direct Current (HVDC) links that enable exchange of power between regions and enhanced system resilience. The company has secured orders to establish 500kV HVDC Transmission Links associated with these interconnections.
The company has also won orders for three more packages involving two 380kV overhead transmission lines and a bulk supply 380kV Gas Insulated Substation. These elements contribute significantly to the renewable generation interconnection and fortification of the grid.
In Abu Dhabi, L&T has received an order to build two major 400kV Gas Insulated Substations. In addition to civil works, the scope also involves Series Current Limiting Reactors, Auto Transformers, related control, protection, substation monitoring & alarm systems including fault and power quality monitoring, telecommunication systems and integration with the Load Dispatch Centre.
T. Madhava Das, whole-time director & senior executive vice president (Utilities) Larsen & Toubro, said, The fortification and modernization of transmission systems is the foremost step in establishing a secure, resilient grid capable of handling variable renewable generation in an evolving energy market. We thank our customers for entrusting these projects with us.
L&T Finance offers financing for two-wheelers, consumer goods, homes, farm equipment, women entrepreneurs, rural groups, real estate, and infrastructure. It provides financing for small and medium enterprises through term loans and overdraft facilities.
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The company had reported 29.11% increase in consolidated net profit to Rs 685.51 crore on 12.08% rise in total income to Rs 3,784.61 crore in Q1 FY25 over Q1 FY24.
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