L&T wins construction orders worth up to Rs 5,000 crore, check stock reaction

Larsen and Toubro (L&T) has announced the acquisition of substantial construction orders both in India and abroad, amounting to a value between ₹2,500 crore and ₹5,000 crore, which it categorises as 'large'. The orders include a contract for building residential towers in Mumbai, involving the construction of RCC shell and core structures for two 200-metre luxury towers.

Additionally, in Oman, L&T's buildings and factories division secured a repeat order for constructing a premium office space in Muscat, featuring three identical towers above a shared two-level basement, with a central landscaped plaza. This project also encompasses civil, architectural, and MEP works, ensuring comprehensive development.

The company has also secured orders from the Andhra Pradesh Capital Region Development Authority, entailing the design and construction of an integrated Andhra Pradesh State Secretariat and HOD offices in Amaravati. This project involves the construction of two towers and an amenities building. Concurrently, L&T aims to establish India's largest green hydrogen plant at Indian Oil Corporation Ltd’s Panipat refinery in Haryana, under a build-own-operate model, supplying 10,000 tonnes of green hydrogen annually for 25 years. This initiative marks a significant step towards sustainable energy solutions.

Despite these developments, L&T's stock experienced a slight decline, trading at ₹3,477.7 apiece, down by 0.21% as of Thursday morning. So far this year, the stock has witnessed a 5.2% drop. The company's classification of orders ranging from ₹2,500 crore to ₹5,000 crore as 'large' underscores the scale of these recent contracts.

The ongoing projects and efforts to venture into green hydrogen reflect L&T's strategic expansion in diversified sectors aimed at sustaining growth amid fluctuating market conditions. The company's commitment to innovation and sustainability is evident in its recent endeavors.