Larsen and Toubro wins fresh orders worth up to ₹10,000 crore in Bengaluru and Mumbai

Larsen and Toubro Ltd. (L&T) on Friday, October 3, said its buildings and factories vertical recently won 'major' orders in India.

L&T classifies orders in the ₹5,000 crore to ₹10,000 crore range as 'major'.

The company said it won an order from a renowned multinational company for of the largest proposed IT parks with a development potential of 5.9 million square feet on a lumpsum turnkey basis at Bengaluru and will be delivered in two phases.

The key features include office space development in warm shell basis with USGBC new building - platinum rating towards LEED certification for sustainability, L&T said.

The warm shell construction includes developing six towers, it added.

The major scope of works include civil structure work, unitised facade glazing, architectural lighting, finishes, electromechanical services, a GIS substation, solar PV system, LPG gas bank, among others as well as extensive scope of hardscaping, landscaping and irrigation in external development areas, L&T said.

The company's buildings and factories vertical has also won an order from a renowned developer to construct a mixed-use development project in Mumbai, which is to be completed within 45 months, it said.

Last week, shares of L&T were double downgraded by brokerage firm BofA Securities to "underperform" from its earlier rating of "buy" citing limited upside potential after the recent run-up.

L&T shares were up 0.4% at ₹3,682.9 apiece around 11.45 am. The stock has gained 7.7% in the last six months.

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