L&T bags mega civil infra orders

The company's Heavy Civil Infrastructure business has bagged new orders worth Rs. 7,489 crores.
 

The Municipal Corporation of Greater Mumbai (MCGM) has given an order for the construction of the Mumbai Coastal Road Project (MCRP), Packages 1 and 4. The project involves the construction of a 7.75 km coastal road from Princess Street Flyover to Baroda Palace including an underground tunnel passing below Girgaum Chowpatty, Malabar Hills and Priyadarshini Park.

The Package 4 of the contract includes the construction of a 3.93 km stretch of coastal road from Princess Street Flyover to Priyadarshini Park. While the Package 1 of the contract involves the construction of a 3.82 km long, 8-lane highway from Priyadarshini Park to Baroda Palace including interchanges at Amarson Garden and Haji Ali.

The said project involves seafront development to ease traffic congestion which will be first of its kind in India. It will provide seamless connectivity between South and North Mumbai and widen the scope for recreational and tourism activities in Mumbai.

Another order has been received from the Irrigation and Command Area Development Department (I&CAD), Government of Telangana for the Medigadda Barrage Project.

Also, Heavy Civil Infrastructure business’s subsidiary, L&T Geostructure has received an order from BHEL. The order is for piling, pile test, pile cap and pedestal work for a 1x660 MW Panki Thermal Power Plant near Kanpur, UP.

Over the last 6 to 8 months, the stock of L&T has been trading at a consolidated level ranging between Rs. 1,240-1,400. On Monday, it opened at Rs. 1,272.10 per share and made intra-day high of Rs. 1,274.80 per share. However, it has corrected by making intra-day low of Rs. 1,238.90 per share.