Consolidated revenue stood at ₹67,942 crore, rising 6.7% year-on-year from ₹63,678 crore, driven by progress across several businesses. Revenue was also above the CNBC-TV18 poll estimate of ₹66,500 crore.
The company reported earnings before interest, tax, depreciation and amortisation (EBITDA) of ₹6,116 crore, down 3.2% from ₹6,318 crore in the corresponding quarter last year. EBITDA was below the CNBC-TV18 poll estimate of ₹6,410 crore.
The EBITDA margin stood at 9% in the quarter, compared with 9.9% a year ago and the CNBC-TV18 poll estimate of 9.6%.
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L&T secured orders worth ₹1,08,014 crore during the quarter, a 14% year-on-year increase. The company received significant order wins across businesses, including residential and commercial buildings, transportation infrastructure, ferrous metals, offshore wind and heavy engineering.
International revenue stood at ₹34,393 crore, contributing 51% to the company’s total revenue. International orders stood at ₹60,702 crore, contributing 56% of the total order inflow.
The group’s consolidated order book stood at ₹7,78,954 crore as of June 30, 2026, registering a 5% growth over March 2026. International orders accounted for 52% of the overall order book.
Energy – Conventional
Larsen & Toubro’s Energy – Conventional segment secured orders worth ₹3,053 crore during the quarter ended June 30, 2026, registering a 90% year-on-year decline. The decline was due to deferment of certain anticipated orders and the high base effect from an ultra-mega order secured in the CarbonLite Solutions business in the corresponding quarter last year.
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International orders contributed 77% of the total order inflow during the quarter. The segment’s order book stood at ₹2,21,541 crore as of June 30, 2026, with international orders accounting for 63% of the total order book.
Customer revenues for the quarter stood at ₹14,239 crore, registering a 14% year-on-year growth, driven by improved execution in the Hydrocarbon business and CarbonLite Solutions business. International revenues contributed 68% of the segment’s total customer revenues.
The segment reported an EBITDA margin of 7.6% during the quarter, compared with 7.5% in the corresponding period last year.
Energy – Green
L&T’s Energy – Green segment secured orders worth ₹33,042 crore during the quarter, registering a 58% year-on-year growth. The increase was driven by the receipt of ultra-mega orders in the Offshore Wind business.
International orders accounted for 98% of the total order inflow during the quarter. The segment’s order book stood at ₹1,46,700 crore as of June 30, 2026, with international orders contributing 97%.
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Customer revenues for the segment stood at ₹5,607 crore, declining 11% year-on-year. The decline was largely due to supply chain disruptions arising from the West Asia conflict in the Solar business.
International revenues contributed 87% of the segment’s total customer revenues during the quarter. The segment reported an EBITDA margin of 6.0% in Q1 FY27, compared with 6.1% in the year-ago quarter.
Manufacturing & Products
The Manufacturing & Products segment reported order inflows of ₹5,535 crore during the quarter, registering a 74% year-on-year growth. The increase was driven by multiple refinery equipment package orders in the Heavy Engineering business.
Export orders contributed 59% of the segment’s total order inflow during the quarter. The segment’s order book stood at ₹42,476 crore as of June 30, 2026, with export orders accounting for 19% of the total.
Customer revenues increased 9% year-on-year to ₹4,486 crore, supported by improved execution progress in Precision Engineering & Systems, Construction Equipment & Mining Machinery and Rubber Processing Machinery businesses.
International revenues contributed 16% of total customer revenues. The segment’s EBITDA margin stood at 15.2%, compared with 17.5% in the corresponding quarter last year, due to changes in the sales mix within the portfolio.
Technology, Platforms & Services
The Technology, Platforms & Services segment reported customer revenues of ₹14,627 crore for the quarter, registering a 15% year-on-year growth, driven by continued engagement across the information technology and technology services (IT&TS) sector.
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International billing contributed 92% of the segment’s total customer revenues during the quarter. The segment delivered an EBITDA margin of 19.2% compared with 19.5% in the year-ago quarter. The marginal decline was due to higher manpower costs and foreign exchange variations impacting hedged portfolio positions.
Financial Services Segment
Larsen & Toubro’s Financial Services segment reported income from operations of ₹5,042 crore for the quarter ended June 30, 2026, registering a 27% year-on-year growth, driven by focused and higher disbursements in the retail business.
The segment’s total loan book stood at ₹1,29,634 crore as of June 30, 2026, registering a 6% growth compared with ₹1,21,728 crore as of March 2026. Retail loans accounted for 98% of the total loan book.
The segment reported profit before tax (PBT) of ₹1,236 crore during the quarter, compared with ₹943 crore in the corresponding period last year. The improvement in profitability was supported by loan book growth, healthy asset quality and operating performance.
Realty Segment
L&T’s Realty segment reported order inflows of ₹1,299 crore during the quarter ended June 30, 2026, registering a 32% year-on-year growth driven by higher bookings from new launches. The segment’s order book stood at ₹17,330 crore as of June 30, 2026.
Customer revenues for the quarter stood at ₹1,009 crore, registering growth of more than 100% year-on-year, supported by higher handover of residential apartments. The segment reported an EBITDA margin of 36.9% during the quarter, compared with 48.8% in the year-ago period. The decline in margin was due to changes in sales composition.
Development Projects Segment
The Development Projects segment includes operations of Nabha Power Limited up to the date of its divestment on June 25, 2026, Hyderabad Metro till April 30, 2026, in line with the Share Purchase Agreement with Hyderabad Metro Rail Limited (HMRL), and the Green Energy business.
During the quarter ended June 30, 2026, the segment reported customer revenues of ₹1,074 crore and earnings before interest and tax (EBIT) of ₹124 crore.
S N Subrahmanyan, Chairman and Managing Director, said, “The financial year has commenced against the backdrop of geopolitical uncertainties. The Company has managed to maintain momentum by rotating its focus across sectors and geographies while maintaining robust cash flows. The performance for the quarter reflects our portfolio resilience.
During the quarter, we successfully concluded the sale of Nabha Power Limited, consistent with our stated strategy of exiting the concessions portfolio. Further, we have signed the share purchase agreement with Hyderabad Metro Rail Limited (HMRL), a Government of Telangana Enterprise, to divest 100% of our stake in Hyderabad Metro SPV.”
Shares of Larsen and Toubro Ltd ended at ₹3,832.75, up by ₹28.45, or 0.75%, on the BSE.
