Rs 4.76 trillion order book and DIIs increase stake: This multibagger construction company bags new orders of about Rs 2,500 crore from ONGC!

Shares of the company have gained more than 40 per cent in the last one year.

Larsen & Toubro (L&T) has secured a significant offshore order from Oil & Natural Gas Corporation (ONGC) for the eighth phase of their Pipeline Replacement Project (PRPVIII Group B) on India's west coast. This EPCIC contract, awarded to L&T's Energy Hydrocarbon (LTEH) vertical, involves engineering, procurement, construction, installation, and commissioning of 129 kilometers of subsea pipelines and related modifications across ONGC's western offshore fields. This order is expected to be worth Rs 1,000 crore to Rs 2,500 crore.

L&T boasts over 30 years of experience in the hydrocarbon sector, offering integrated design-to-build solutions through their Offshore, Onshore EPC, Modular Fabrication, Advanced Value Engineering & Technology (AdVENT), and Offshore Wind Farm Business Groups. They are known for setting high standards in project management, corporate governance, quality, health, safety, environment, and operational excellence.

Recently, Larsen & Toubro's Buildings & Factories (B&F) business secured significant orders in India. One project involves building a super-speciality hospital for the Asian Institute of Gastroenterology in Hyderabad. This 1.1 million square foot project includes civil works, interiors, landscaping, and more. The other project involves constructing office space in Mumbai with a total area of 13 lakh square feet. This fast-track project will utilize composite steel technology and is expected to be completed in 20 months. This project is expected to be worth Rs 1,000 to Rs 2,500 crore.

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 4.76 trillion. The stock has also delivered multibagger returns of about 140 per cent in the last three years. DIIs have also increased their stake in the company in March 2024.

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.