Larsen & Toubro Ltd. has bagged multiple orders in the third quarter of the current financial year, with the majority of its ultra-mega and mega orders stemming from its hydrocarbon business in the Middle East.
The company's total order inflows are expected to be in the range of Rs 53,500–82,000 crore in the quarter ended December, according to NDTV Profit's calculations on the basis of L&T's press notes. It had reported order inflows of Rs 60,700 crore in the same quarter last fiscal.
In the first half of the current fiscal, the company reported an order inflow of Rs 1.55 lakh crore, while the order book stood at Rs 4.51 lakh crore. The order inflows in the first nine months of the fiscal are expected to be around Rs 2.08–2.37 lakh crore, compared to Rs 1.54 lakh crore in the year-ago period.
This includes orders from its transportation business for the Dahisar Bhayandar bridge project in Maharashtra, significant orders in its power business, multiple order wins in its buildings and factories and water and effluent treatment business, and a large order win to construct the Bhogapuram international airport in Andhra Pradesh.
The management expects to outperform its guidance for order-inflow growth of 10–12% in 2023–24. L&T's order inflows stood at Rs 2.31 lakh crore in the last fiscal, which means the company expects to close the current fiscal with a cumulative order inflow of Rs 2.54–2.58 lakh crore.
On Tuesday, the company said it secured an order to construct a new All India Institute of Medical Sciences in Rewari, Haryana, on a design, engineering, procurement and construction basis.
Shares of L&T were trading 0.24% higher at Rs 3,547.40 apiece compared to a 0.02% decline in the benchmark Nifty 50 at 10.33 a.m.
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