Larsen & Toubro (L&T) rose 1.28% to Rs 1850.15 after the company's construction arm secured a 'significant' order for its buildings and factories business from a reputed developer.
According L&T's classification, the value of 'significant' contracts lies between Rs 1000 crore to Rs 2,500 crore.The residential business of buildings and factories division has secured this order to construct one of the largest residential townships in Bengaluru.
The project involves construction of 6,768 apartments spread across 39 Towers with 2 basements + ground + 27 to 31 floors. Additionally, the development entails 149 villas along with club houses, swimming pools and other amenity structures. The total built up area will be 13.43 million square feet. The project is scheduled to be completed in 42 months.
The scope of works includes design & construction of entire civil structure including waterproofing, masonry, plastering and electrical conduiting.
L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. The company's consolidated net profit fell 67.04% to Rs 1819.45 crore on 12.05% increase in net sales to Rs 34772.90 crore in Q2 FY22 over Q2 FY21.
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