L&T shares price rises 3% on order wins
Its residential arm has won an order from a Bengaluru-based developer for a residential complex.
April 17, 2020 / 02:17 PM IST
Contracts from domestic clients lifted the share price of Larsen & Toubro 3 percent intraday on April 17.
The stock was trading at Rs 924.05, up 1.32 percent, on the BSE at 1354 hours.
"The buildings & factories (B&F) business of L&T Construction has secured significant orders from prestigious clients in India," the engineering and construction major told BSE.
As per the company's classification, “significant orders” range between Rs 1,000 and Rs 2,500 crore.
"The factories arm of B&F business has secured a design and build order from a leading cement manufacturer to execute and commission a 9,500 TPD cement plant at Ametha, Katni, Madhya Pradesh," L&T said.
Its residential arm won an order from a Bengaluru developer for a residential complex with a built-up area of 5 million square feet.
The company's IT office spaces arm has secured an order from a government organisation to construct smart data centres at Hyderabad and Chennai, with a total built-up area of 2.68 lakh square feet.
"The scope of work includes engineering, procurement, construction, commissioning, operation and maintenance for both the locations," L&T said.