L&T starts FY19 on strong note as arm bags order worth Rs 3,376 cr; stock up 2%

Larsen & Toubro started off the financial year 2018-19 on a strong note as its construction arm has won orders worth Rs 3,376 crore. The stock gained nearly 2 percent intraday Thursday.

Its power transmission & distribution business segment has secured orders worth Rs 1,226 crore while water & effluent treatment segment secured an order worth Rs 1,200 crore.

"In India, the Power Transmission Corporation of Uttarakhand Limited (PTCUL) has awarded orders for supply, erection, testing & commissioning of a 220kV double circuit transmission line from Srinagar to Rudrapur. Another order has been secured from a reputed utility customer in South India to build substations," L&T said.

Urban electrification orders have been received from the Brihanmumbai Electric Supply & Transport Undertaking (BEST) and the New Delhi Municipal Council (NDMC) which are for the strengthening of sub-transmission and distribution networks under the Integrated Power Development Scheme (IPDS), it added.

In the Middle East, Africa and ASEAN countries, orders for the construction of substations and transmission lines have been secured from utility customers, it said.

Its water & effluent treatment business has secured an EPC order from the Water Resources Department, Government of Madhya Pradesh for the execution of Kundalia Irrigation Project – Left Bank.

L&T's buildings & factories business has bagged orders in health and automobile sector worth Rs 950 crore from two prestigious clients.

announced an award for three gas production deck modules by Saudi Aramco.

This is the fourth award for the consortium of LTHE with Subsea 7.

There are three offshore contracts currently under execution by the consortium for Saudi Aramco under the Long Term Agreement, the company said.

In the quarter ended March 2018, it had received orders worth more than Rs 32,000 crore.