Larsen & Toubro (L&T) rose 1.77% to Rs 1,904.60 after the company said that the buildings & factories business of L&T Construction has secured an order from a leading automobile major to construct a state-of-the-art manufacturing facility in Haryana.
As per L&T's classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore.
The scope involves design & execution of civil, structural & architectural works including external development works. This win is on the back of a prestigious order from Reliance Life Sciences, a leading bio-tech major to construct their state-of-the-art life sciences products manufacturing facility in Maharashtra, India, the company stated in the press release.
The EPC major said that the business has also won an order from the Government of Assam, Public Works Department to construct a Police reserve campus in Guwahati. The scope of works includes design and construction of accommodation facilities for Police, office space, multi-level car parking and allied buildings in all aspects including structure, finishes, MEP, and related external development works. This project is to be executed in 36 months, it added.
Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.
The EPC major's consolidated net profit surged 44.9% to Rs 1,702.07 crore on 22.2% jump in net sales to Rs 35,853.20 crore in Q1 FY23 over Q1 FY22.
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