L&T wins Rs 340cr order in Dubai

Larsen & Toubro (L&T) has bagged an order from Nakheel, UAE, to build a residential property in Dubai.

According to a release issued by L&T to the BSE today, the company's value of work will be Rs 340 crore out of the total project cost of Rs 450 crore.

"The project involves construction of Mogul Gardens-2 at Discovery Gardens located on Shaikh Zayed Road, Dubai," the release added.

To be completed in 560 days from the date of signing, the project involves construction of 27 residential blocks with a total built-up area of 1,78,050 square metres. "In all, there will be 18, four-storied and nine five-storied buildings containing 1,908 apartments. The project will be executed by the company's construction division," the release said.

The company and its Oman-based subsidiary had recently secured five contracts, cumulatively valued at Rs 467 crore, to provide water supply distribution system to Saham and Khaburah towns in Oman, and construction of two 39-storied commercial & office buildings, and two towers of 35-storied and 25-storied luxury condominiums in Dubai, the release said.