Larsen & Toubro has won mega orders worth up to Rs 15,000 crore across India, Saudi Arabia and the UAE. L&T shares gained in trade with investors tracking
the impact of the new order wins. In a statement to the stock exchanges, L&T said, "the Power Transmission & Distribution (PT&D) business vertical of L&T has secured multiple EPC orders in India and abroad, for strengthening power transmission infrastructure and enabling renewable energy evacuation. In Saudi Arabia, the Power Transmission & Distribution vertical has won orders in the 380 kV transmission and substation segments. The projects will support transmission capacity augmentation and renewable energy evacuation, thereby strengthening Saudi Arabia's power transmission network and facilitating integration of renewable energy into the grid. In the United Arab Emirates, the business has won an order for constructing 132/11 kV substations and associated cabling works. Then, in the domestic market in India, it has secured an order from a leading private sector developer for setting up a transmission system-comprising transmission lines and substations-in Visakhapatnam." Joji Sebastian, Executive Vice President & Head-Power Transmission & Distribution of L&T said, "these order wins demonstrate the breadth of the Power Transmission & Distribution vertical's engineering and execution capabilities and the ability to deliver complex power infrastructure solutions across geographies. With the growing demand for grid strengthening, renewable energy integration and associated infrastructure, we are leveraging our technology, project execution expertise and global presence to deliver value for our esteemed clients." Analysts believe the latest order wins strengthen L&T’s order book visibility and highlight the company's power transmission and renewable energy vertical. While they acknowledged the diversified geographic mix across India, Saudi Arabia and the UAE could support revenue growth they cautioned that execution timelines, cost pressures, margin risks and geopolitical uncertainties in overseas markets remain key challenges going forward.
