L&T's construction arm bags 'large' contracts for its buildings & factories business

The business has secured an order to construct a residential township in Bengaluru involving the construction of 3,627 apartments spread across 19 towers having configuration of 3 basements, ground, 23 to 41 floors, 88 villas along with club houses, swimming pools and other amenity structures. The total built up area will be approximately 9.7 million square feet.

The business also secured orders from a reputed developer to construct Commercial Towers in Hyderabad. The scope of work includes construction of 2 buildings with a combined built-up area of 4.2 million square feet.

In addition, the business has bagged an order from the Indian Institute of Technology, Kanpur to construct a super specialty hospital & academic block as part of the Gangwal School of Medical Sciences and Technology. This will be the first super-specialty hospital with a medical college campus in India.

This campus will play an important role in IIT Kanpur's medical research and help train next generation medical personnel. The project involves construction of a 500 bedded hospital block & academic block.

As per L&T's classification, the value of the said contracts lies between Rs 2,500 crore and Rs 5,000 crore.

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 have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

The company's consolidated net profit climbed 46.47% to Rs 2,493 crore on 33.55% rise in revenue from operations to Rs 47,882.37 crore in Q1 FY24 over Q1 FY23.

Shares of Larsen & Toubro were up 0.87% to Rs 3052.50 on the BSE.

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