Shares of Larsen and Toubro Ltd (L&T) were trading in the green and 3% higher on 2 July after the country’s largest infrastructure company secured an order worth over $4 billion from Saudi Aramco. 

The company has secured an order from Saudi Aramco for the expansion of its gas projects. This order is a part of Saudi Aramco’s $25 billion worth contracts for engineering, procurement and construction (EPC) related works for two of its expansion programmes. 

Earlier on 1 July, the company secured another offshore order from Oil and Natural Gas Corporation (ONGC) worth Rs 2,500 crore for the eighth phase of the Pipeline Replacement Project (PRPVIII Group B) off India’s west coast. 

In its regulatory filing, the company said, “The order involves engineering, procurement, construction, installation & commissioning (EPCIC) of 129-km subsea pipelines and associated modification works across India’s west coast offshore fields of the ONGC.”

In its quarterly earnings for January-March, the company reported a 10.3% year-on-year increase in its consolidated net profit to Rs 4,396.12 crore and a 15% YoY increase in its revenue from operations to Rs 67,078.68 crore for the quarter under review. 

At 1:02 pm, the shares of Larsen and Toubro were trading 1.86% higher at Rs 3,592.15 on NSE.