LT Construction secures mega contract for major airport

L&T Construction has secured a mega-contract (>7,000cr) for design and construction of a major airport.

The scope of work includes design, engineering, procurement and construction of Passenger Terminal Building, a new runway, rehabilitation of a runway, taxiways and aprons, a new elevated eastern cross taxiway, landside roads, utility infrastructure, drainage and modifications for the existing Terminal.

The project involves baggage handling systems, passenger boarding bridges, airport security systems, visual docking guidance systems, vertical horizontal transportation, airfield ground lighting, mechanical, electrical and plumbing works. This will increase the existing capacity to 40 million passengers per annum.

The company has now come up with a range of the order wins rather than giving the exact amount of order win, a practice adopted to protect its competitive interests, reported a leading business daily.

For Q3FY19, Larsen and Toubro registered a jump in revenue and PAT up by 24 and 37 per cent, respectively on YoY basis. The consolidated order book stood at Rs. 2,84,049 crore as on December 31, 2018, up by 5 per cent.

On Monday, the stock opened at Rs. 1,243.25 and made an intra-day high of Rs. 1,258.55. The stock had hit its 52-week high of Rs. 1,459.10 on December 21, 2018 and its 52-week low of Rs. 1,183.40 on October 23, 2018 on the BSE. At 11:25 hours, the stock was trading nearly Rs. 1,245.40 per share.