The Water and Effluent Treatment Business of L&T Construction has secured significant orders from Tumakuru Industrial Township Limited (TITL) under the Chennai-Bengaluru Industrial Corridor (CBIC).

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The L&T arm also bagged repeat orders from the Tamil Nadu Water Supply and Drainage Board (TWAD Board), Government of Tamil Nadu, funded by the Asian Development Bank (ADB).

L&T defines a "significant order" that ranges between Rs 1,000 crore to Rs 2,500 crore range.

The order from TITL envisages designing, constructing, testing, commissioning, operating, and maintaining infrastructure works at the Tumakuru Node, Karnataka, on an engineering, procurement, and construction (EPC) basis.

This project is part of the Government of India’s flagship project, Development of Industrial Corridors, under the National Industrial Corridor Development and Implementation Trust (NICDIT), the apex body overseeing the integrated development of all industrial corridors across the country.

Larsen and Toubro Ltd. is engaged in EPC projects in over 50 countries. Recently, L&T signed an agreement to divest its 51 percent stake in L&T Infrastructure Development Projects Ltd (L&T IDPL) to a portfolio company of Infrastructure Yield Plus II, an infrastructure fund managed by Edelweiss Alternatives.

With this, L&T will divest its entire stake in the concession subsidiary L&T IDPL, a JV between L&T Ltd and Canada Pension Plan Investment Board (CPP Investments) holding 51 percent and 49 percent stakes respectively.

This is in line with L&T’s strategy of reducing its exposure to the non-core asset-heavy developmental projects portfolio, according to DK Sen, whole-time director and senior executive vice-president (developmental projects).

Shares of Larsen & Toubro ended 1.2 percent higher at Rs 2,088.