L&T shares gain after its subsidiary bags multiple orders in the 'significant' range

Larsen and Toubro on Thursday, March 28, said its wholly-owned subsidiary L&T GeoStructure recently secured multiple orders across the country in the ₹1,000 crore to ₹2,500 crore range.

As per L&T's classification, orders in the ₹1,000 crore to ₹2,500 crore range are termed as 'significant'.

Of these, the company bagged one order from the Paradip Port Authority to build a south breakwater extension, groynes and a breakwater toe protection wall at the Paradip Port in Odisha. "The major scope of work includes extension of the existing south breakwater by 500 metre, constructing 10 groynes on the north of the north breakwater for a cumulative lenght of 1,,650 metre, breakwater toe protection works using steel/sheet piles to deepen the draft of the approach tunnel," the company said in a stock exchange filing.

The other order is from Hindustan Shipyard Limited to augment the slipway-4 at Vishakapatnam in Andhra Pradesh. The scope of work includes upgrading the slipway, constructing the crane track and allied services such as gas utilities, firefighting system and supply and putting up a 300 MT Goliath crane.

Lastly, the company secured an order from a real estate developer for substructure works construction in Chennai. The work involves constructing a retention system, which will include deep excavation and anchoring works.

Just a day prior, on March 27, the company informed the stock exchanges that it had bagged multiple orders in the ₹2,500 crore to ₹5,000 crore range. The 'large' range of orders included building a 165-bed hospital in oman, a temple corridor in Assam, a polymer manufacturing unit and a solar glass manufacturing plant in Gujarat.

Earlier this month, L&T won its largest ever cross-country pipeline EPC project in the Middle East. Earlier this month, L&T also bagged 'significant' orders twice. The first was on March 7, 2024, when it won an order from the ONGC for an offshore project off India's west coast. The second was on March 13, 2024,  when the company's buildings and factories vertical bagged an order from the All-India Institute of Medical Sciences (AIIMS) Madurai.

L&T shares were trading in the green for the seventh day on Thursday, March 28, up 1.3% at ₹3,755 apiece at 11 am. The stock has gained 75.86% in the past year.