Rs 4.13 lakh crore order book: This multibagger civil construction receives orders worth Rs 5,000 crore from Rail Vikas Nigam Ltd & Middle East!
The stock is up by 50 per cent in 1 year and gave multibagger returns of over 190 per cent in the last 3 years.
The Heavy Civil Infrastructure business vertical of L&T Construction has won multiple orders from prestigious clients. An order has been received from Rail Vikas Nigam Limited (RVNL), for the design and construction of an underground metro project in connection with Joka – Esplanade Metro Corridor in the city of Kolkata.
The major scope of work for the project comprises “Design and Construction of the Ramp and Underground Metro Railway Works from Mominpur (Excl.) to Esplanade, 5.05 Km (from chainage 9063.00m to 14113.00m) including four underground stations (viz. Khidderpore, Victoria, Park Street and Esplanade), tunnels by Tunnel Boring Machine and Cut & Cover methods, architectural finishing works, track works, etc”.
Another order has been bagged from a reputable client in the Middle East for a mandate to rehabilitate structures for strategic purposes. This package is the first of its kind for L&T in the Middle East market. The scope of work includes a feasibility study, concept design, detailed design, construction, and installation of special systems.
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Recently, the company announced its Quarterly Results ended June 30, 2023 wherein the net sales increased by 33.55 per cent to Rs 47,882 crore and net profit increased by 39 per cent to Rs 3,096 crore in Q1FY24 over Q1FY23. As of June 30, 2023, the company order book stands at Rs 4.13 lakh crore.
On Wednesday, the shares of Larsen and Toubro Ltd plunged 1.68 per cent to Rs 2,621.40 per share with an intraday high of Rs 2,645 and an intraday low of Rs 2,603. The company has been maintaining a healthy dividend payout of 37.20 per cent
The stock is up by 50 per cent in 1 year and gave multibagger returns of over 190 per cent in the last 3 years. Investors must keep this stock on their watch list.
Disclaimer: The article is for informational purposes only and not investment advice.