L&T Secures Large-Scale Construction Contracts Worth Up To Rs 10,000 Crore

Larsen & Toubro Ltd.'s Buildings & Factories vertical has bagged orders for large-scale construction projects in Bengaluru and Mumbai. The orders are in the range of Rs 5,000-10,000 crore.

In Bengaluru, the company has secured a major contract from a multinational corporation to develop one of the largest proposed IT parks in the country, the company informed exchanges. 

The project spans 5.9 million square feet and will be executed on a Lumpsum Turnkey basis in two phases. It includes the construction of six towers, each with 14 storeys (three-level common basement, ground floor, ten upper floors, and terrace), designed as A-grade office spaces on a warm shell basis. The development targets a USGBC Platinum rating under LEED certification, as per the information disclosed by the company.

The scope of work includes civil structures, unitised facade glazing, architectural lighting, interior finishes, and comprehensive electromechanical services such as electrical systems, HVAC, fire protection, plumbing, elevators, escalators, and ELV systems. Additional infrastructure includes a GIS substation, solar PV system, LPG gas bank, water and sewage treatment plants, underground tanks, stack parking, and extensive landscaping and irrigation.

In Mumbai, L&T has also won an order from a developer for a mixed-use development project, which is scheduled to be completed within 45 months.

The scrip rose as much as 0.92% to Rs 3,704.20 apiece. It pared gains to trade 0.65% higher at Rs 3,694.10 apiece, as of 12:25 p.m. This compares to a 0.04% decline in the NSE Nifty 50 Index.

It has risen 5.62% in the last 12 months. The relative strength index was at 57. 

Out of 33 analysts tracking the company, 27 maintain a 'buy' rating, four recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 10.4%