Larsen and Toubro (L&T) added 1.67% to Rs 3,768 after the EPC major announced that its wholly owned subsidiary, L&T GeoStructure has secured 'significant' multiple orders from across India.
As per L&T classification, the value of the significant contract lies between Rs 1,000 crore and Rs 2,500 crore.
The business has recieved an order from Paradip Port Authority (PPA) to construct a south breakwater extension, Groynes and a breakwater toe protection wall at Paradip Port, Odisha.
The major scope of work includes extension of the existing south breakwater by 500 meter, construction of 10 Groynes on the northside of north breakwater for a cumulative length of 1,650 meter, breakwater toe protection works using steel/sheet piles to deepen the draft of the approach channel.
The business has also secured an order from the Hindustan Shipyard (HSL), to augment the Slipway-4, Visakhapatnam, Andhra Pradesh. The work includes upgrading the slipway, constructing the crane track and allied services such as gas utilities, firefighting system and supply and erecting a 300 MT Goliath crane.
Lastly, the business has bagged an order from a reputed real-estate developer to construct substructure works in Chennai. The order includes construction of a retention system involving anchoring works and deep excavation.
Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer focused approach and the constant quest for top class quality has enabled L&T to attain and sustain leadership in its major lines of business for eight decades.
The EPC company reported 15.45% jump in consolidated net profit to Rs 2,947.36 crore on 18.84% increase in revenue from operations to Rs 55,127.82 crore in Q3 FY24 over Q3 FY23.
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