Page 6 - Larsen & Toubro (l&t)

L&T wins Rs 5,000 crore major onshore gas pipeline project in West Asia

This is the largest cross-country pipeline EPC (Engineering, Procurement, and Construction) project awarded to us to date, said Subramanian Sarma, whole-time director and senior executive vice prez

L&T Fin to borrow $125 million from JICA for on-lending to women, others

L&T Finance Holdings on Tuesday said it will borrow USD 125 million (about Rs 1,038 crore) from the Japan International Cooperation Agency for on-lending to women and other segments. The two entities have signed a financing pact, under which 40 per cent of the money will be allocated to women borrowers, while the rest will support farmers, micro, small and medium-sized enterprises (MSMEs) and loans to purchase new two-wheeler vehicles, including electric two-wheelers. The loan is being raised from JICA as part of a co-financing agreement with Asian Development Bank (ADB) in addition to USD 125 million it had raised from ADB in November last year. LTFH's chief financial officer Sachinn Joshi said the agreement with JICA is a substantial step toward driving sustainability and positive business impact. "This long-term loan also helps us take forward our ongoing strategy of diversifying funding sources for the company," Joshi added. JICA said poverty alleviation is a "pressing issue"

L&T Tech, Intel partner to develop AI solutions for traffic management

Global tech firm L&T Technology Services on Tuesday said it will partner with American technology firm Intel Corporation to develop AI solutions for enhancing traffic management and emergency safety measures in smart cities and transportation sectors. LTTS is a technology partner for Intel's new Edge Platform, a modular, open software platform enabling enterprises to develop, deploy, run, secure, and manage edge and Artificial Intelligence applications at scale with cloud-like simplicity. The collaboration is "aimed at developing and providing scalable edge-AI solutions for a range of use cases, including Cellular Vehicle-to-Everything (CV2X) applications", the company said. Using the Edge Platform, including built-in AI runtime with OpenVINO, LTTS will enhance on-premises and hybrid AI scenarios for traffic management and emergency safety in smart cities and transportation. LTTS and Intel Corporation together will take this platform to businesses that are working in the smart ...

L&T fined Rs 500 cr over Pragati Maidan Tunnel, company files counter claim

PWD, Delhi has also asked construction major L&T, which executed the Pragati Maidan Tunnel project, to initiate the repair work

L&T wins contract for Assam bridge, to boost link to textile hub Sualkuchi

The foundation stone for the key infrastructure project was laid during Prime Minister Narendra Modi's visit to Assam during the festival of Bihu last year

L&T bags 'large' contract for hydrocarbon biz from IndianOil Adani Ventures

The scope of work includes engineering, procurement, construction, and commissioning of offsite tankages, bullets and other associated facilities on lump sum turnkey basis

Brokerages divided on L&T's new order prospects, exposure to West Asia

L&T's management indicated the pace of new orders in the domestic market had slowed and there would be weakness for the two quarters between now and June 2024 owing to the Lok Sabha elections

Stocks to Watch on Jan 31: TCS, L&T, Dr Reddy's, Policybazaar, Coromandel

Stocks to watch on January 31, 2024: Nova Agri Tech will make its debut today. The issue price is Rs 41

L&T Q3 results: Net profit rises 15% to Rs 2,947 crore, misses estimates

The company's consolidated net profit rose 15% to Rs 2,947 crore ($355 million) for the quarter ended Dec. 31, but fell short of analysts' estimate of Rs 3,304 crore, as per LSEG data

L&T Finance Q3 results: Net profit jumps 41% to Rs 640 crore, NII up 8%

L&T Finance Holdings on Tuesday reported a 41 per cent jump in net profit to Rs 640 crore for the December quarter, driven by retail loan sales. The Mumbai-based Non-Banking Financial Company (NBFC) had earned a net profit of Rs 454 crore in the year-ago period. The Net Interest Income (NII) of the NBFC grew 8 per cent to Rs 1,833 crore as compared to Rs 1,693 crore in the same quarter in the previous year, L&T Finance Holdings Ltd said in a statement. The company's retail disbursements grew 25 per cent to Rs 14,531 crore. The company completed the merger of L&T Finance Ltd, L&T Infra Credit Ltd, and L&T Mutual Fund Trustee Ltd with L&T Finance Holdings Ltd in the third quarter, it said.

Shri Ram Janmabhoomi Mandir to last over a thousand years, says L&T

Ayodhya Ram mandir stands as a symbol of endurance designed and constructed to last a thousand years, said Larsen & Toubro

A sense of collective achievement prevailed, says L&T's S V Desai

S V Desai, whole-time director & senior executive vice-president (civil infrastructure), L&T, talked about the challenges and learnings from executing India's longest sea bridge

No pre-election lull in execution, orders so far, say cement, steel firms

Cement dealers and executives from ratings agencies echo Acharya's view

L&T Construction bags contract for AMAALA project in Saudi Arabia

Larsen & Toubro (L&T) on Wednesday said its construction arm has bagged a contract to establish various systems related to green energy generation and utilities for an ultra-luxury tourism destination in Saudi Arabia. "The construction arm of Larsen & Toubro has been chosen as the turnkey engineering, procurement and construction (EPC) contractor....for the AMAALA project in the Red Sea region, Saudi Arabia," the company said in a filing to BSE. AMAALA is an ultra-luxury destination set in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia's northwestern coast. Spanning 4,155 square kilometer, the project features pristine landscape and diverse natural ecosystems, coupled with unique and intriguing heritage and local culture. "The award of this prestigious contract stands testimony to the synergistic strength of diverse offerings of L&T Construction in providing innovative solutions to customers keen on sustainable, clean and reliable electricity and ...

Tata group companies, Larsen & Toubro top mcap gainers in market boom

The construction and engineering major Larsen & Toubro (L&T), however, tops in terms of percentage gains as the company added an additional Rs 2.4 trillion, or 49.1 per cent

L&T Finance announces completing merger of 3 subsidiaries with itself

Merger will create "sustainable value" for stakeholders and help governance, says NBFC

L&T Finance Holdings completes merger of 3 of its subsidiaries with itself

LTFH also announced the appointment of Amresh Kumar as its chief risk officer for two years effective from December 4

L&T Tech, NVIDIA to unveil Gen AI & advanced software for medical devices

This collaboration provides a complete solution for customers looking to transition to a software-defined business model via real-time AI applications

Larsen & Toubro arm secures significant orders in Odisha, Madhya Pradesh

Larsen and Toubro (L&T) on Tuesday said its arm L&T Construction has bagged significant work orders from the governments of Odisha and Madhya Pradesh. The company did not disclose the order value. However, according to its classification, significant orders value in the range of Rs 1,000 crore to Rs 2,500 crore. "Water & effluent treatment business of L&T Construction has secured repeat orders from the Water Resources Department, Government of Odisha to execute cluster XXII & cluster XXV mega lift irrigation projects," L&T said in a statement. The scope of works includes the execution of 19 lift irrigation schemes comprising intake points spread across the Manjore reservoir, Brahmani river, Rengali left main canal, Rengali right main canal and lndravati reservoir to irrigate a culturable command area of 28,944 hectares in the districts of Angul, Dhenkanal and Nabarangpur on a turnkey basis. The scope additionally includes establishing a distribution network, ...

L&T Construction to build Bhogapuram International Airport, Andhra Pradesh

In a regulatory filing, L&T said that the project will be developed to handle 6 million passengers per annum initially