Larsen & Toubro (L&T) advanced 1.06% to Rs 1,925.10 after the company's construction arm bagged a 'significant' contract for its heavy civil infrastructure business.
The construction arm of L&T has secured an order in the Mumbai Ahmedabad High Speed Rail Project. The contract has been awarded by the National High Speed Rail Corporation (NHSRCL).
L&T is already executing two other projects of the high-speed corridor.
The major scope of work for the project comprises the design & construction of civil and building works for a double line high-speed railway of a length of 8.198 km. The scope also includes the major station of Vadodara, confirmation car base, viaduct and bridges, crossing bridges, architectural, MEP and other associated works.
The project alignment passes through Vadodara, Gujarat and the project is scheduled to be completed within 49 months.
The construction major has classified the contract as 'significant', implying that the project value was between Rs 1,000 crore to Rs 2,500 crore.
L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services.
The company's consolidated net profit fell 67% to Rs 1,819.45 crore on 12% increase in net sales to Rs 34,772.90 crore in Q2 FY22 over Q2 FY21.
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