Shares of Larsen & Toubro Ltd were trading 2% higher on 22 February after the company announced that they had received a significant order.

In its regulatory filing, the company said that they have received an order from a real estate developer for constructing multi-storeyed residential towers in Thane in the Mumbai Metropolitan Region (MMR).

The company did not specify the order value but has classified it as ‘significant’, which ranges from Rs 1,000 crore to Rs 2,500 crore.

As a part of the order, the company will construct core and shell works for five towers that will have 62 floors, comprising basements, allied parking areas, five podiums, and ground.

MV Satish, the whole-time director and senior executive vice-president (buildings) of L&T, said, “We have executed some unique structures over the past few years and recently have been introducing new technologies and advanced methods to fast-track construction that is becoming increasingly green and sustainable and, at the same time, reflecting the spirit of Atma Nirbhar Bharat.”

Earlier last week, the company’s hydrocarbon business vertically bagged a ‘significant’ onshore and offshore order from a Middle Eastern client.

At 3:30 pm, the shares of Larsen and Toubro closed 2.02% higher at Rs 3,363 on NSE.