Larsen & Toubro (L&T) during market hours today, 21 April 2020, informed that its construction arm has secured orders from clients for its varied businesses.
The metallurgy and material handling business secured an order from BHEL to manufacture and supply heavy material handling equipment with high end automation for its (5X800 MW) Thermal Power Plant at Yadadri, Telangana.Another EPC order has been bagged from Birla Copper, a unit of Hindalco to revamp its Copper Smelter complex at Dahej, Gujarat. The scope of work includes assessment, re-engineering, refurbishment of operating plant facilities.
The business has also secured an order to supply high-end manufactured equipment including add on jobs from its existing domestic and international contracts.
The smart world & communication business has bagged yet another smart city project for design, supply, installation, testing and commissioning with five year comprehensive operation and maintenance of an integrated command and control centre in Jhansi, Uttar Pradesh. The vision of this project is to empower Jhansi, the land of Great Veerangana-Rani Laxmi Bai to embark on a journey towards sustainable development while conserving its glorious culture and heritage.
The L&T GeoStructure business has secured an order from the State Project Management Unit, Government of West Bengal, for flood protection works and embankment strengthening of Damodar river in Purba Bardhhaman and Hooghly districts, West Bengal, using sheet piles and Bullah piles.
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As per the L&T's classification, the valuation of the 'significant' order stands between Rs 1,000 crore and 2,500 crore.
Meanwhile, L&T on 20 April 2020 allotted 12,500, 7.20% rated listed unsecured redeemable non-convertible debentures of Rs 10 lakh each aggregating to Rs 1250 crore which will mature on 20 April 2023. The said debentures are proposed to be listed on the National Stock Exchange of India. The interest on the said debentures will be paid on an annual basis.
On a consolidated basis, the firm's net profit rose 15.21% to Rs 2,352.12 crore on a 5.87% rise in net sales to Rs 36,242.68 crore in Q3 December 2019 over Q3 December 2018.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
Shares of Larsen & Toubro fell 1.56% to Rs 901.80 on BSE. The scrip hovered in the range of Rs 880.35 to Rs 906.30 so far.
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