L&T bags significant order; third of its kind in April 2020

The third significant order secured by L&T, in the current month, helped its stock price to surge more than two per cent at the first tick of the trading session on Friday. The significant order that it has secured is for the building and factories business of the company.

L&T is one of the largest engineering, technology, construction and financial services conglomerate. It classifies its order book in four major categories such as significant, large, major and mega, which distinguishes order value in the range of Rs 1,000 crore to more than Rs 7000 crore order secured.

The company reported that the factories arm of building and construction business has secured ‘design and build’ order for executing and commissioning of 9,500 TPD cement plant at Madhya Pradesh. Further, its residential arm secured order in Bengaluru for constructing a residential complex for a total built up area of 5 lakh square feet. The IT office spaces arm received order from a government organisation for the construction of ‘smart data centres’ in Hyderabad and Chennai with a total built up area of 2.68 lakh square feet.

L&T has shown strong order booking momentum for the month of April 2020. As per its exchange filing from the company, for each month since January 2020, it has won at least one order. For April 2020 (till date), it secured as many as seven orders, having an approximate total value in the range of Rs 22,000 crore to Rs 30,000 crore in the current month.