Larsen & Toubro secures major orders across multiple sectors

Larsen & Toubro (L&T) the Buildings & Factories business secured a range of orders valued between Rs 2,500 and 5,000 crore. These contracts span various business units and encompass diverse projects.

 

In Bengaluru, the business will oversee the construction of a residential township, comprising 3,627 apartments across 19 towers, each ranging from 3 Basements to Ground + 23 to 41 Floors, in addition to 88 Villas. The development will also feature clubhouses, swimming pools, and other amenities, boasting a total built-up area of approximately 9.7 million sq.ft.

 

Additionally, the Indian Institute of Technology, Kanpur, has commissioned L&T to construct a Super Specialty Hospital and an Academic Block as part of the Gangwal School of Medical Sciences and Technology. The project encompasses a 500-bedded hospital block (G+5 floors) and an academic block (G+5 floors).

 

Foreign broking house CLSA has maintained a buy rating on L&T stock and raised the target price to Rs 3,600 per share, citing a robust outlook for the company. L&T recently secured an additional $1.5 billion in orders for Mumbai infrastructure, demonstrating strong momentum.

 

CLSA has also increased its estimates for the E&C segment's CY25-26 EPS by 4-5 percent, buoyed by a 5 percent rise in the CY24 inflow forecast. Furthermore, L&T's power business arm recently secured an order worth up to Rs 2,500 crore from the West Bengal Power Development Corporation Limited, involving the establishment of wet Flue Gas Desulphurisation (FGD) systems for a Thermal Power Plant in Sagardighi, West Bengal.

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