Larsen & Toubro Ltd. has bagged an 'ultra-mega' order worth over Rs 15,000 crore for a client in the Middle East, according to the company's press release on Monday.
The order involves development of multiple offshore facilities and will be carried out by L&T Energy Hydrocarbon Offshore (LTEH Offshore)
LTEH Offshore will execute the project scope encompassing engineering, procurement, construction, installation and commissioning (EPCIC) of offshore facilities. A significant portion of the fabrication activities will be carried out at L&T's integrated, the release outlined.
"The award reinforces LTEH Offshore's long-standing presence in the Middle East and reflects the confidence placed by customers in its ability to deliver large and complex offshore projects safely, on schedule and to the highest quality standards," the company stated.
T Madhava Das, Whole-time Director, Senior Executive Vice President & Head - Energy Hydrocarbon Division, Larsen & Toubro, addressed the order win and said that it represents one of the most significant offshore developments currently underway in the Middle East and underscores the growing investments being made to meet future energy demand.
"The scale and complexity of the project call for deep engineering expertise, integrated project execution capabilities and flawless coordination across multiple workstreams. We are proud to contribute to the development of critical energy infrastructure that will support the region's long-term growth ambitions," Das added.
L&T Share Price
Shares of L&T traded 0.2% higher at Rs 4,065 apiece on the NSE on Monday. The scrip has fallen 0.5% year-to-date, but risen 10.5% in the last 12 months.
L&T Q1 FY27 (Consolidated, YoY)
- Net profit up 14% to Rs 4,123 crore from Rs 3,617 crore (versus estimate of Rs 3,985 crore)
- Revenue up 6.7% to Rs 67,942 crore from Rs 63,679 crore (versus estimate of Rs 67,545 crore)
- Ebitda down 3.2% to Rs 6,117 crore from Rs 6,318 crore (versus estimate of Rs 6,535 crore)
- Margin down 90 basis points to 9% from 9.9% (versus estimate of 9.7%)
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