L&T power business win major orders
L&T Construction’s Power Transmission & Distribution business has bagged significant orders in India and abroad. The estimated cost of these orders is worth Rs 1,000-2,500 crore.
The order’s scope includes modernising the power distribution network in a subdivision of Bengaluru Metropolitan Area Zone. With the scope involving conversion of high voltage overhead lines into underground cables and creation of additional feeders for load bifurcation, the project will enhance the reliability of the power system. Similar distribution network strengthening orders have been received in the northern and western parts of the subcontinent as well.
It has also bagged orders to establish 220kV, 132kV substations and 132kV cable networks in India, Middle East and Africa. In a consortium, another order has been secured for the rehabilitation of substations and transmission lines associated with hydropower plants in Myanmar.
Additional orders have been received in the ongoing substation, transmission line and renewable energy jobs in India.
L&T’s order book as on December 2019 stood at Rs 3,06,300 crore translating book to bill a ratio of 2.2x, considering its FY19 consolidated revenue. Of this order book, power segment contributes six per cent.
On Monday, the stock of L&T opened 1.3 per cent higher at Rs 945 from its previous close of Rs 933.15 on BSE.