- 06 Dec 2022
- ICICIdirect Research
L&T bags large order in Mumbai-Ahmedabad bullet train project
LT - 2175 Change: -32.80 (-1.49 %)News:
L&T Construction's subsidiary has bagged a large (Rs 2500–5000 crore) order from the National High-Speed Rail Corporation (NHSRCL) for the Mumbai-Ahmedabad high speed rail project. Under the contract, L&T will construct the Sabarmati Depot (MAHSR - D-2) in Gujarat for the Mumbai-Ahmedabad High Speed Rail (MAHSR) project through a consortium led by Sojitz Corporation, Japan. The scope of the MAHSR -D-2 package project involves design, supply, construction & testing and commissioning of the depot spread over ~82 hectares including various specialised equipment required to inspect and maintain the rolling stock based on the proven Shinkansen technology. Upon completion, it will be the biggest depot in India for this purpose. L&T is already executing civil viaduct and station packages C4, C5 & C6, special steel bridges packages P4(X) & P4(Y) and ballastless trackworks (Package No: T3) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) project
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The entire acquisition of land for the project has been completed except a patch owned by Godrej in Vikhroli. L&T’s order inflow momentum looks set to continue with a strong Rs 6.3 trillion-prospects pipeline with better conversion ratio. In H1FY23, L&T announced an order inflows of ~Rs 93,719 crore. L&T retained its 12-15% order inflow growth guidance for FY23E
Impact:
Positive