Rs 4,50,700 crore order book: This multibagger civil construction company bags new orders worth approx. Rs 2,500 crore from Ministry of Health & Family Welfare!

The company's robust order book, valued at Rs 4,50,700 crore as of September 2023, underscores its strong market position and future growth prospects.

Larsen & Toubro Ltd (L & T Ltd) informed that the buildings & factories (B&F) business of L&T Construction has secured an order from HITES (A Mini Ratna PSU) under the Ministry of Health and Family Welfare.  HLL Infra Tech Services Limited, known as 'HITES' is a 100 per cent subsidiary of HLL Lifecare Limited (A Mini Ratna PSU) under the Ministry of Health and Family Welfare, Government of India. The order is worth approx. Rs 2,500 crore.

The health business unit of the HRC SBG has secured an order to construct a new AIIMS at Rewari (Haryana) on a design, engineering, procurement and construction (EPC) basis in Q3FY24. The facilities will include a 720-bed Teaching Hospital, a 30-bed AYUSH Hospital, a 100 students’ annual intake medical college, nursing college, 500-seat auditorium, hostel & residential facilities to be executed within stringent timelines. The total built-up area is 1.5 million sq. ft.

The scope of work involves civil structure, finishes & allied MEP services including built-in furniture, supply, installation, testing & commissioning of medical gas piping, modular OT, pneumatic tube system, nurse call system, central sterile supply department & external development works including landscaping work.

Earlier, L&T's construction arm is making waves in the Middle East, landing a mammoth Rs 10,000 crore contract to build sustainable energy and utility systems for AMAALA, a luxury Saudi Arabian mega-project, while their Power Transmission & Distribution arm secured another Rs 5,000 crore in orders for UAE and Kuwaiti infrastructure, solidifying their regional dominance in both luxury and essential sectors.

The company's robust order book, valued at Rs 4,50,700 crore as of September 2023, underscores its strong market position and future growth prospects. This order book represents a 22 per cent increase from September 2022, with a well-balanced domestic and international mix, with 65 per cent of the orders coming from domestic clients and 35 per cent from international clients.

Today, the shares of Larsen and Toubro Ltd plunged 0.66 per cent to Rs 3,542.50 per share with an intraday high of Rs 3,605.55 and an intraday low of Rs 3,537.45. The stock also made a fresh new 52-week high of Rs 3,605.55 per share.

The company has been maintaining a healthy dividend payout of 37.20 per cent. The stock is up by 65 per cent in 1 year and gave multibagger returns of 165 per cent in the last 3 years. Investors must keep this Large-Cap stock. 

Disclaimer: The article is for informational purposes only and not investment advice.