L&T share price jumps 3% after construction arm bags large contracts; key things to know

Shares of infrastructure major Larsen & Toubro jumped on Thursday morning, after its construction arm bagged “large” contracts from multiple clients in the domestic market. L&T shares jumped by more than 3% to Rs 1,357.30 in the morning trade on Thursday, to emerge among the biggest gainers in the Sensex.

The buildings and factories business has secured an order for the construction of campus development of IIT Hyderabad at Kandi, Telangana, L&T said in BSE filing. L&T said its buildings and factories business has received another order from an Indian Real Estate development company for the construction of “Asset 13 project” at Aerocity, New Delhi. The project consists of hotel building, office complex, international conference and business centre as well as multi-level car parking spaces.

The project has to be completed in 22.5 months, L&T added. The company further said that the business has secured add-on orders from some of its existing projects. Its metallurgical and material handling business has secured an order from BHEL for Ash Handling Plant (AHP) to be installed at NTPC, Patratu Thermal Power Plant located in Jharkhand. While the firm has not provided an exact value of the contract; but according to its project classification, the value of the contracts were in “large” category which is in the range of Rs 2,500 to Rs 5,000 crore.

Notably, Heavy Civil Infrastructure Business of L&T Construction has secured orders from Bangalore Metro Rail Corporation Limited for the design and construction of the Phase – 2 works. The scope for Package No. 2 includes under-ground structures (tunnels Et stations) 2.76 Km (approx.) long from Vellara Junction station to Shivajinagar station and three UG Metro Stations at Vellara Junction, MG Road and Shivajinagar on the Reach-6 line, according to a statement by L&T.

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