L&T slips despite bagging contract of supplying 28 steel bridges for bullet train project

Larsen & Toubro Limited (L&T) informed on Friday during the market hours that its construction arm has secured a contract to supply 28 bridges for Mumbai-Ahmedabad High-Speed Rail Corridor.  

The project would include procuring, fabricating, assembling, painting all the 28 bridges, which are steel truss superstructures. Once the work has been completed, the company also has to transport these huge bridges to various sites, which would be used as crossovers over roads, rivers, railway lines, and other structures.   

The project has been secured by L&T and IHI Infrastructure Systems (IIS) of Japan through a consortium. The value of the project is estimated to be anywhere in the range of Rs 1,000 to Rs 2,500 crore.   

Larsen & Toubro is an Indian multinational, engaged in EPC projects, hi-tech manufacturing & services with revenue over USD 21 billion. The company operates in more than 30 countries worldwide. A strong, customer-focussed approach and the constant quest for top-class quality have helped L&T to gain and sustain its leadership in its line of business for over 8 decades.  

At around 3 pm on Friday, the company’s stock was trading at Rs 1,333.30, down by 0.87 per cent. Meanwhile, it had touched an intraday high of Rs 1,369 during the early morning hours.