Larsen & Toubro (L&T)

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Infrastructure major Larsen and Toubro (L&T) on Thursday said its data centre business L&T-Cloudfiniti has on boarded the first major customer at its hyperscale data centre in Sriperumbudur near Chennai. The centre has a built-in capacity of 30 MW, of which 12 MW colocation-ready capacity is live across two floors, Larsen and Toubro (L&T) said in a stock exchange filing. The company's client, a leading cloud service provider, has rented as much as 6 MW IT Load capacity, consisting of high-density racks spread over an entire floor, and a bulk bandwidth, the filing said. The tenure of the contract is 10 years. "This deal marks the beginning of many such collaborations and acts a testament to our commitment to delivering world-class colocation and cloud services to businesses across the spectrum. In the days to come, we are confident of redefining India's data centre landscape with our fast scalable and reliable solutions," L&T-Cloudfiniti Chief Executive Seema Ambastha ..

The strategic investment helps expand the company's Cloud service offering as part of the data centre business

The rise in L&T share price came after the company reported a healthy set of September quarter numbers on October 30, 2024

Maintains guidance on order inflow and revenue generation for full-year

Infrastructure major Larsen and Toubro (L&T) on Wednesday posted a 5 per cent rise in consolidated profit after tax to Rs 3,395 crore in the September 2024 quarter on account of higher income. The company's consolidated profit after tax stood at Rs 3,223 crore in the year-ago period, L&T said in a regulatory filing. "The company for the quarter ended September 30, 2024, posted a consolidated Profit After Tax (PAT) of Rs 3,395 crore, registering a growth of five per cent compared to the corresponding quarter of the previous year," the filing said. During the period under review, its consolidated income rose to Rs 62,655.85 crore from Rs 52,157.02 crore in the year-ago period. Its expenses in the September quarter increased to Rs 57,100.76 crore against Rs 47,165.95 crore a year ago. "We have delivered yet another quarter of strong financial performance despite the continuing global macro economic volatility. The projects and manufacturing businesses of the company continue to ..

The orders are estimated to be valued between Rs 5,000 crore and Rs 10,000 crore

While the exact worth of the deal was not disclosed but the order was marked as 'significant', which the L&T uses to describe orders valued between Rs 1,000 crore and Rs 2,500 crore

BSE50 companies reported 8,468 complaints

L&T is developing these electrolysers in partnership with French company McPhy and has set up this factory at its Hazira facility

L&T DES will implement these Energy Management Systems across Andhra Pradesh, Kerala, Puducherry, Tamil Nadu, and Telangana

As of June, L&T had an outstanding order book of Rs 4.90 trillion, of which 35 per cent was from West Asia

Engineering and construction giant Larsen & Toubro has acquired 12.5 million equity shares in not-for-profit company Indian Foundation for Quality Management

Of the BSE-50 companies, two-year data of whistle-blower complaints were available for 14 companies

Flagship entities of groups such as L&T, Vedanta, Grasim & Adani reported double-digit employee turnover in FY24

After hitting an intraday high of 24,999.75, the 50-share blue chip company index closed at 24,836, up 1.25 points over its previous close

The company beat street estimates as in a Bloomberg poll, 13 analysts estimated revenue of Rs 53,600 crore and seven analysts estimated a net income adjusted of Rs 2,639 crore

"The biggest differentiator is the tax-free income there versus growing tax here," said R Shankar Raman, chief financial officer and whole-time director for L&T

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L&T also made headlines last month over the chairman's public comment that the company was facing a shortage of about 30,000 workers