Larsen & Toubro (L&T) shares continued their upward momentum for the third consecutive day, trading 1% higher on Wednesday, 5 March, following the announcement that the company’s Buildings & Factories division secured ‘significant’ orders from a reputed developer for residential tower construction in Mumbai, Bengaluru, and Chennai.
L&T categorizes orders valued between Rs 1,000 crore and Rs 2,500 crore as ‘significant.’
- Mumbai Project: Involves the construction of two ultra-luxury high-rise towers, reaching up to 273 meters with 57 floors.
- Bengaluru Project: Comprises 14 luxury residential towers, built on a design-and-build basis, each spanning 28 floors.
- Chennai Project: Includes 25 luxury towers, also on a design-and-build basis, with 14 floors.
Additionally, the Buildings & Factories division secured multiple add-on orders for ongoing projects.
Earlier this week, L&T’s Power Transmission & Distribution vertical announced it had won ‘large’ orders both domestically and internationally. The company classifies orders in the Rs 2,500 crore to Rs 5,000 crore range as ‘large.’
During the quarter, L&T reported its highest-ever quarterly order intake of Rs 1.16 lakh crore at the group level, marking an impressive 53% year-on-year growth.
At 3:30 pm, the shares of L&T closed 0.93% higher at Rs 3,243 on NSE.
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