Rs 4.5 trillion order book & DIIs increase stake: This multibagger construction stock bags new order of about Rs 17,500 crore for railway and international projects!

Shares of the company have gained more than 60 per cent in the last one year.

Larsen & Toubro's Buildings & Factories business is scoring big with recent orders in India and Oman. In India, the company bagged a significant repeat order from the Maharashtra government to build 14 EWS housing towers with complete infrastructure in Navi Mumbai, showcasing its expertise in affordable housing projects.

Meanwhile, L&T Oman has secured a contract for a prestigious mixed-use development in Muscat. This project will encompass a 3-star hotel, serviced apartments, residential apartments, offices, and landscaped areas, demonstrating their versatility in handling complex mixed-use structures. Both orders are expected to be worth Rs 2,500 crore.

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Recently, L&T Construction's Railways arm has scored a historic win, bagging a massive contract to build the electrification system for the Mumbai-Ahmedabad Bullet Train project. This 508 km project marks the first time India will utilize Japan's Shinkansen high-speed technology, propelling trains to 320 km/h speeds. The project is expected to be worth approximately Rs 15,000 crore, this order marks a major push towards India's high-speed rail ambitions.

Moreover, L&T's financial performance reflects its strong momentum. The Q2FY24 witnessed a robust 19.32 per cent increase in net sales and a 15.11 per cent jump in operating profit. This financial stability further reinforces their ability to deliver on these ambitious projects and contribute to India's infrastructure revolution.

Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing, and financial services conglomerate, with global operations. The company has an order book of Rs 4.5 trillion. The stock has also delivered multibagger returns of about 160 per cent in the last three years. DIIs have also increased their stake in the company in December 2023.

The stock has shown impressive growth, and investors should keep a close eye on this stock.    

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