Larsen & Toubro wins significant city projects

Larsen & Toubro Limited has secured significant orders for residential and commercial developments in Mumbai, Bengaluru and Hyderabad. The company classifies significant orders in the ₹1,000 crore to ₹2,500 crore range. Larsen & Toubro The projects include nine high-rise residential towers in Mumbai, nine residential towers in Bengaluru and a commercial tower in Hyderabad. Add-on orders were also received for ongoing projects. My view is that the order win adds visibility to L&T’s urban construction pipeline across three major markets. However, the exact value of these individual contracts has not been disclosed, so the impact on annual revenue should not be overstated. The next trigger is the pace of execution and order inflow from the company’s Residential, Commercial Buildings & Factories business. Stance: Constructive, with execution as the key monitor. LT