Larsen & Toubro advanced 2.07% to Rs 3,460 after the civil construction firm's construction arm secured a 'significant order' for its Railways Strategic Business Group, to construct the Jakarta Mass Rapid Transit (MRT) project (phase 2A).
As per Larsen & Toubro's (L&T) classification, the value of the significant' contract lies between Rs 1,000 crore and Rs 2,500 crore.The order is received for construction of Jakarta MRT project (Phase 2A) (contract package CP205) through L&Ts long-term Japanese partner, Sojitz Corporation.
The company stated that this contract marks the first EPC Railway Systems Order for L&T in the ASEAN (Association of Southeast Asian Nations) region.
The Jakarta MRT Phase 2A is an extension of the existing Jakarta MRT line for the section between Bundaran HI up to and including Kota with a total length of approximately 12.5 km and 7 underground stations.
This package involves procurement and delivery of multiple systems across various domains on a design and build basis including overall system integration.
The project scope includes trackworks, overhead contact system, substation system, power distribution system, signaling system & telecommunication systems, SCADA facility, platform screen doors, and modification of the equipment installed in the existing OCC and the stations/train sets (Phase-1).
Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer focused approach and the constant quest for top class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.
The company reported 15.45% jump in consolidated net profit to Rs 2,947.36 crore on 18.84% increase in revenue from operations to Rs 55,127.82 crore in Q3 FY24 over Q3 FY23.
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