L&T bags 'large' order for Transportation Infrastructure biz

As per Larsen & Toubro's (L&T) classification, the value of the 'large' contract lies between Rs 2,500 crore and Rs 5,000 crore.

The order involves integrated infrastructure development project in Town Planning Schemes 2 to 7 under the Navi Mumbai Airport Influence Notified Area (NAINA) project in Maharashtra.

The project has been awarded by City and Industrial Development Corporation (CIDCO) for integrated infrastructure development of 60m & 45m wide roads, construction of various major & minor structures and allied electrical works.

The project will have 4 approach roads of 13.28 km having major structures (09 Nos) including 3 steel bridges over Kalundre river and Mumbai-Pune Expressway, minor bridges (12 Nos), underpasses (27 Nos) and approaches to structures. The project also involves the construction of utility works and allied electrical works, it added.

Meanwhile, L&T informed that the Bombay High Court has quashed and set aside the show-cause notice and Rs 2,237-crore demand issued by the GST authorities.

'The company had filed a Writ Petition in the Bombay High Court against the show cause notice issued by the Principal Commissioner of GST and Service Tax, Mumbai towards Service tax demand of Rs 2,237 crore, on an erstwhile subsidiary, in respect of Tax already paid by the Company with respect to certain transactions undertaken post demerger,' L&T stated in the press release.

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer'focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

The EPC major's consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24.

Shares of Larsen & Toubro rose 0.74% to Rs 3,600.65 on the BSE.