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L&T Share Price: Construction unit wins multiple 'large' orders for heavy civil infrastructure business
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L&T Share Price: Construction unit wins multiple 'large' orders for heavy civil infrastructure business
Aug 1, 2023 2:03 AM

Engineering and Infrastructure conglomerate Larsen and Toubro Ltd. (L&T) on Tuesday announced that its subsidiary L&T Construction has won multiple orders for its heavy civil infrastructure business.

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The company didn’t disclose the exact value of the orders, but defined them as ‘large’ orders. All orders between Rs 2,500 crore and Rs 5,000 crore are classified under the ‘large’ category by L&T.

L&T said that the heavy civil infrastructure business vertical of L&T Construction has received an order from state-run Rail Vikas Nigam Ltd. (RVNL) for the design and construction of an underground metro project in connection with Joka – Esplanade Metro Corridor in the city of Kolkata.

Major scope of work for the project comprises of ‘design and construction of the ramp and underground metro railway works from Mominpur to Esplanade’, a 5.05 km track that includes four underground stations (viz. Khidderpore, Victoria, Park Street and Esplanade).

It would also include design and construction of tunnels by tunnel boring machine and cut and cover methods, architectural finishing works, track works, etc.

L&T Construction has also won another order from a client in the Middle East for a mandate to rehabilitate structures for strategic purposes.

“This package is the first of its kind for L&T in the Middle East market,” the company said in a press release. The scope of work includes feasibility study, concept design, detailed design, construction, and installation of special systems.

Last week, L&T reported a 46.5 percent year-on-year jump in consolidated net profit to Rs 2,493 crore for the quarter ended June 30, 2023.

This was primarily aided by the execution of a healthy opening order book in its projects and manufacturing portfolio.

The company said that it had received orders worth Rs 65,520 crore at the group level during the June quarter, registering a strong year-on-year growth of 57 percent.

Shares of Larsen & Toubro are trading 0.5 percent lower at Rs 2,666.95.

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