L&T Construction wins building & factory business contracts

On Wednesday, Larsen & Toubro Construction announced that its buildings and factory business secured significant orders from various clients in India. Though the company did not specify the exact value of the contracts but a significant contract as per its specification ranges between Rs 1,000 crore and Rs 2,500 crore.

The said contracts comprised of an order to design and construct an integrated resort complex project at Goa and another to construct a technology park in Trivandrum over a total built-up area of 2.3 million sq. ft, which will be a Gold leadership in energy and environmental design (LEED) Certification Park upon completion.

Earlier this month, the company had raised 12,500, 7.20 per cent rated listed, unsecured, redeemable, non-convertible debentures (NCDs) of Rs 10 lakh each, aggregating to Rs 1,250 crore, which will mature on April 20, 2023. The debentures are proposed to be listed on National Stock Exchange of India. 

Larsen & Toubro Ltd manufactures engineering equipment, undertakes large-scale engineering projects and acts as Indian representative for a number of overseas manufacturers of heavy machinery. Its products include bulldozers, road rollers, dairy machinery, chemical and pharmaceutical plants, switchgear, food processing machinery and feed milling plants.

At 1 pm on Wednesday, the stock was trading at Rs 879.4, up by 1 per cent or Rs 8.75 per share. The 52-week high is recorded at Rs 1,606.70 and the 52-week low is Rs 661.05 on BSE.