Rs 4,13,000 crore order book: This multibagger civil construction company receives order worth Rs 7,000 crore from Mumbai Metropolitan Region Development Authority!
The stock is up by 70 per cent in 1 year and gave multibagger returns of over 240 per cent in the last 3 years.
The major scope of work for the project comprises of design & construction of twin road tunnels, using Tunnel Boring Machines (TBMs), connecting these tunnels to the existing elevated Eastern Freeway at Orange Gate near its southern terminal through transition ramps and to the Marine Drive at Mumbai.
The project alignment will run primarily under the Sardar Vallabhbhai Patel Road and is to be completed within 54 months. L&T Ltd has significantly enhanced its capability of building faster and reliable mass transit systems and this project is in line with our strategic goals.
Overall, the L&T Construction-MMRDA underground road tunnel project is a major development that will benefit the Mumbai metropolitan region and the Indian construction industry.
On Friday, the shares of Larsen and Toubro Ltd surged 1.50 per cent to make a new 52-week high of Rs 3,057 per share from its previous closing of Rs 3,011.85. At the closing bell, shares of the company were trading at Rs 3,021.95 per share with a spurt in volume by more than 2.07 times on BSE.
Larsen & Toubro Ltd. is a multinational conglomerate primarily providing EPC solutions in key sectors. 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 4,13,000 crore.
According to the annual results, the net sales increased by 17.1 per cent to Rs 1,83,341 crore and the net profit increased by 20.3 per cent to Rs 12,531 crore in FY23 compared to FY22.
The company has been maintaining a healthy dividend payout of 37.20 per cent. The stock is up by 70 per cent in 1 year and gave multibagger returns of over 240 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.
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