Larsen & Toubro Ltd.’s construction unit has received significant orders for its water and effluent treatment (WET) division, the company said in an exchange filing.
Larsen & Toubro Ltd, abbreviated as L&T, is an Indian multinational conglomerate firm based in Mumbai that has commercial interests in engineering, construction, manufacturing, technology, information technology, and financial services.
The corporation is ranked among the top five construction firms in the globe. Henning Holck-Larsen and Sren Kristian Toubro, two Danish engineers seeking asylum in India, formed the company.
While L&T does not publish the size of the orders it receives, it characterizes them as “significant,” with order values ranging from 1,000 crore to 2,500 crore.
The Odisha government’s water resources department has issued repeat orders to the business to complete the Cluster XXII and Cluster XXV Mega Lift Irrigation Projects.
“The aggregate scope of works includes execution of 19 Lift Irrigation Schemes comprising intake points spread across the Manjore reservoir, Brahmani River, Rengali Left Main canal, Rengali Right Main Canal, and Indravati Reservoir to irrigate a culturable command area of 28,944 hectares in the districts of Angul, Dhenkanal, and Nabarangpur on a turnkey basis,” the exchange filing said.
It went on to say that the scope of work also involves creating a distribution network, connecting the power system, and operating and maintaining the complete commissioned infrastructure for 15 years.
The water and effluent treatment division also received an add-on order from the Madhya Pradesh government’s water resources department to execute turnkey pressurized piped lift irrigation projects for the irrigation of approximately 34,942 hectares of culturable command area in MP’s Dewas district.
Significant orders announcement on Tuesday comes only one day after the business announced a ‘big’ contract for the construction, engineering, and procurement of the greenfield Bhogapuram International Airport in Andhra Pradesh via its construction unit.
Orders worth between 2,500 and 5,000 crore come within the ‘big’ category, according to L&T’s categorization.
GMR Vishakapatnam International Airport Ltd awarded L&T this ‘big’ deal. L&T received a letter of intent from a Middle Eastern customer this week for an ‘ultra-mega’ onshore project.
L&T recorded a net profit of 3,222.6 crore for the September quarter, which was better than the 3,048 crore predicted by CNBC-TV18. The company’s bottom line increased by 44.6% year on year.
In its results call, management said that revenue growth guidance of 12% to 15%, as well as order inflow guidance of 10% to 12%, are anticipated to be “outperformed” in the current fiscal year.