L&T WINS 'MAJOR' EXPANSION PROJECT IN MIDDLE EAST WORTH UP TO ₹10,000 CRORE

Engineering and Infrastructure conglomerate Larsen & Toubro Ltd. announced that its Minerals & Metals (M&M) business won an order to set up a pellet plant and a Direct Reduction of Iron (DRI) plant for a client in the Middle East & North Africa (MENA) region.

The order is classified as a "major" order, which means the value of the order ranges between ₹5,000 crore to ₹10,000 crore.

The order pertains to a major order win earlier from the client, which is a major steel producer in MENA.

Scope of the work includes design-build pellet and DRI plants encompassing engineering, supply, erection and construction works based on globally acclaimed technologies.

“This reflects M&M’s leadership position in successful execution of complex iron & steel plant projects in the MENA region," L&T said in its exchange filing.

While releasing its December quarter earnings, L&T said it received highest-ever quarterly orders of ₹1.16 lakh crore at the group level during the quarter, registering a substantial year-on-year growth of 53%.

During the quarter, orders were received across multiple geographies and diverse sectors like Thermal Power, Renewable, Power Transmission, Precision Engineering, Minerals & Metals, Water, Commercial Buildings and Hydrocarbon Onshore. International orders at ₹62,059 crore during the quarter comprised 53% of the total order inflow.

On a cumulative basis, the order inflow for the nine months ended December 31, 2024 stood at ₹2.67 lakh crore, registering a growth of 16% y-o-y. International orders at ₹1.44 lakh crore during the nine months constituted 54% of the total.

The consolidated order book of the group as on December 31, 2024, is at ₹5.64 lakh crore registers a growth of 19% over March 2024, with the share of international orders at 42%.

"This quarter has ended on a strong note for us. We have achieved the highest ever quarterly order inflow in the company’s history, consequently our order book is at a record high," said SN Subrahmanyan, Chairman and Managing Director.

Shares of Larsen and Toubro Ltd. are trading 3.36% higher at ₹3,399.70. The stock has fallen over 7% on a year-to-date basis.

2025-02-04T06:14:52Z