L&T wins an "ultra-mega" contract in the Middle East for its Hydrocarbon business

Scope of the current LoI comprises of engineering, procurement and construction for the gas processing plant consisting of inlet separation facilities, booster compression system and other works.

“This is a huge order that will not only strengthen our balance sheet but also provides impetus to our demonstrated credentials in the Hydrocarbon EPC space," L&T MD & CEO SN Subrahmanyan was quoted as saying.

On October 30, L&T's construction division bagged "large" orders in the Power Transmission & Distribution space in India and overseas. It classifies those orders which are valued between ₹2,500 crore and ₹5,000 crore as "large" orders.

Larsen & Toubro will also be reporting its September quarter results later today. A CNBC-TV18 poll expects the company's revenue to grow by 17% from last year, while net profit is likely to grow over 35%.

Brokerage firm Goldman Sachs believes that L&T may raise its 10-12% order inflow growth guidance for financial year 2024. While it expects revenue growth from strong execution, margins are likely to improve from the second half of financial year 2024.

Shares of Larsen & Toubro are trading 0.3% lower at ₹2,918.35.