L&T Secures Contracts Exceeding ₹1,000 Crore, Stocks Surge

In a recent stock exchange filing, Larsen & Toubro (L&T) revealed that its Buildings and Factories (B&F) business has successfully secured orders ranging from ₹1,000 crore to ₹2,500 crore in both India and Oman.

The Indian conglomerate has secured a repeat order from the Government Planning & Development Authority in Maharashtra. The contract entails the construction of Economically Weaker Sections (EWS) Housing, comprising 14 towers and associated infrastructure works in Navi Mumbai. The project is set to be completed within a timeframe of 42 months, showcasing L&T's commitment to delivering quality construction projects in a timely manner.

Simultaneously, L&T Oman has been awarded a contract for a mixed-use development project in Muscat. This contract involves the construction of a 3-star hotel, featuring 80 hotel rooms, 101 serviced apartments, a 23-key residential apartment and office block, along with a common basement, associated service buildings, external works, and services.

The successful acquisition of these orders further solidifies L&T's position in the construction and infrastructure sector, both domestically and internationally. As a result of these developments, L&T's stock witnessed a surge, reflecting positive market sentiment towards the company's continued success in securing significant projects.

HBL