L&T rises on securing significant contracts for its various businesses

Larsen & Toubro Ltd, a leading construction engineering company, announced today that it has secured significant contracts from affluent clients for its various businesses. The aggregate value of all the contracts ranges from Rs 1,000 crore to Rs 2,500 crore.  

The first contract is secured by its water & effluent treatment business from Bangalore Water Supply & Sewerage Board (BWSSB). In this project, the company will engage in designing, building & operating sewage treatment plants as well as intermediate sewage pumping stations along with the construction of main sewers for 110 villages in the Mahadevpura & Bommanahalli region (K&C valley catchment) of Bengaluru city. This project will receive its funding from Japan International Cooperation Agency (JICA) and aims to benefit over 18 lakh people in Bengaluru.   

The second contract has been secured by its heavy civil infrastructure business from Bhabha Atomic Research Centre (BARC) for the construction of various facilities in Tarapur (Maharashtra) within 42 months.  

Besides, the third contract is secured by the company’s buildings & factories business from an affluent client for constructing sports infrastructure facilities at Kalinga Stadium in Bhubaneswar (Odisha). Along with this, it will also construct a new international hockey stadium with a seating capacity of 20,000 in Rourkela (Odisha) and a total built-up area of 8.45 lakh sq. ft, which will be constructed in time for Hockey World Cup to be held in 2023. These are fast-track projects, which are scheduled to be completed within 15 & 12 months at Kalinga Sports Complex (Bhubaneswar) and Rourkela, respectively.  

Reacting to this development, at 3.27 pm today, the share price of Larsen & Toubro Ltd was trading at Rs 1,557.50, up by 1.20 per cent from its previous closing price of Rs 1,537.60 on BSE.