- 04 Jan 2023
- ICICIdirect Research
L&T CONSTRUCTION ARM BAGS MAJOR ORDERS
LT - 3551 Change: -37.60 (-1.05 %)News: L&T Construction's arm has bagged major orders (ranging from Rs 5000-7000 crore) from the Madhya Pradesh government for its water & effluent treatment business. L&T has bagged repeat orders from the Government of Madhya Pradesh to execute two lift irrigation projects to irrigate 2,05,000 hectares (Ha) of culturable command area covering more than 500 villages of Dewas & Dhar districts on a turnkey basis. The automation system with field instruments and automated valves will ensure round the clock supply of water during the Rabi season. The scope includes survey, design EPC of pump houses, laying of rising & gravity mains, distribution network and supervisory control and data acquisition (SCADA) for controlling & regulating the entire system
Views: The 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 order inflows of ~Rs 93,719 crore. The management is confident of achieving full year guidance of ~Rs 2,21,899 crore for FY23E, which is 15% growth YoY and retained its 12-15% revenue growth guidance for FY23E
Impact: Positive