Infrastructure and Engineering conglomerate Larsen &Toubro Ltd. has announced a “significant” order for the Noida Metro Aqua Line Extension.
As per L&T’s order classification terminology, orders valued in the ₹1,000 crore – ₹2,500 crore range are termed as “significant.”
In an exchange filing issued on Monday, November 9, the infrastructure giant said the Heavy Civil Infrastructure business vertical of L&T has bagged an order from Noida Metro Rail Corporation Ltd. for part design and construction of the Noida Metro Aqua Line Extension Project.
Scope Of Project
The Mumbai-based company says that the project entails part design and construction of a 15.1 km elevated viaduct. This line will emerge from the Botanical Garden to Noida Sector-142, and from Depot Station to Boraki. The project also involves the construction of 10 elevated metro stations.
Earlier this week, the company was in focus after its residential, commercial buildings and factories (RCF) vertical bagged multiple orders worth up to ₹2,500 crore. This particular order covers the construction of two residential developments in Mumbai and Bengaluru, as well as a commercial development in Hyderabad.
How Did L&T Fare In Q2?
Larsen & Toubro (L&T) reported its September quarter results on October 27. In these results, the company reported a 32.5% year-on-year jump in consolidated net profit for the September quarter. Looking at the top-line figure, revenue rose by increased 16% year-on-year to ₹78,750 crore.
When it comes to operational profitability, the Earnings before interest, taxes, depreciation and amortisation (EBITDA) went up 0.6% to ₹6,845 crore from ₹6,806.5 crore in the year-ago quarter. Furthermore, the margin shrunk to 8.7% from 10% a year earlier.
Stock Performance
Shares of L&T is recovering from the lows of the day and are up 0.5% after the order win announcement at ₹4,130. The stock is completely flat on a year-to-date basis, having gained 11.5% over the last one month.
The stock has gained in seven out of the last 10 trading sessions. It was also among the top Nifty 50 performers in the week gone by, during which the index had gained 7.5%.
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