L&T bags projects worth Rs 1, 672 crore

Indian conglomerate Larsen & Toubro (L&T) Tuesday said its construction arm had won several contracts across various business verticals. The projects are worth Rs 1,672 crore.

The company received Rs 967 crore order from Uttar Pradesh Avas Vikas Parishad (UPAVP) for the construction of a multi-storey residential property in Lucknow. Another order was received from a leading real estate developer in Mumbai for the construction of a multi-storey residential building and retail space, the company said in a regulatory filing to the BSE.

In addition, L&T also received new order worth Rs 580 crore in international markets. It won an engineering, procurement, construction (EPC) project from Ethiopian Electric Power for the construction of sub-stations in various locations in Ethiopia. The project will be funded by a French company.

L&T’s Power Transmission and Distribution business also received an order from a Southeast Asian country to build a sub-station, which would be executed on EPC basis.

“Additional orders worth Rs 125 crore have also been received from ongoing jobs of L&T construction’s water and effluent treatment business,” the company added.

Last month, the company won a construction project worth about Rs 800 crore from DLF to build an office complex in Gurgaon, Haryana. The 12-acre project, which has a leaseable area of two million sq.ft, would reportedly be worth Rs 1,100 crore.

The Larsen & Toubro stock closed at Rs 1,181.10 Tuesday, up 0.22 percent from its previous close.

Source- International Business Times

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