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L&T Construction wins orders worth Rs 1,060 crore in domestic market

BusinessToday.In     January 3, 2019

Engineering and construction major Larsen & Toubro (L&T) said on Thursday that its construction arm has bagged orders worth Rs 1,060 crore in the domestic market.

"The smart world and communication business has secured a major order from the Andhra Pradesh State FiberNet Limited (APSFL) for Bharatnet Phase-II works to establish an IP/MPLS Infrastructure covering the 13 districts of Andhra Pradesh," L&T said in a BSE filing.

The scope of the work involves the creation of a digital infrastructure-including-implementation, end to-end integration and commissioning of Internet Protocol/Multiprotocol Label Switching (IP/MPLS) Network, network operating centre, disaster recovery and cloud-based data centre, the company informed the exchange.

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L&T said it has bagged another order from Pimpri-Chinchwad Smart City for the creation of a city network backbone and implementation of smart elements such as Wi-Fi, smart kiosks and variable message displays across the city.

This is the eleventh Smart City Project being implemented as a master system integrator, it added.

Last week, the power transmission and distribution business of L&T Construction had secured EPC orders worth Rs 2,084 crore.

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Following the announcement, shares of the company were trading at Rs 1,401.50 apiece, down 1.75 per cent, against the previous closing price of Rs 1,426.40 on the BSE.

In a similar trend, stocks of the firm were trading 1.69 per cent lower at Rs 1,401.35 on the National Stock Exchange.

Meanwhile, the benchmark index BSE Sensex was trading lower by 314.41 points, or 0.88 per cent, at 35,577.11.

Edited by Chitranjan Kumar

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