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News: L&T’s buildings & factories (B&F) business has bagged significant EPC orders (ranging from | 1,000-2,500 crore) from the domestic market. The business has won an order from a reputed developer to construct residential towers in Thane, Mumbai. The scope of the work includes construction of core and shell works for five towers comprising ground, 5 podiums, 54 floors and allied parking areas. Further, the business has secured an order from a prestigious client to construct commercial office space in Bengaluru with an approximate built-up area of 16 lakhs sq. ft. The scope of work includes civil works for the composite structure, warm shell finishes to construct 3B+G+15 floors. The project is scheduled to be completed in 18 months.
Views: In FY23, L&T’s order inflow was at | 2.30 lakh crore vs. |1.92 lakh crore. L&T’s total ordering prospects/pipeline for FY24E was at | 9.73 lakh crore. Order book was at | 3.99 lakh crore in FY23 with domestic orders contributing to 72% and international orders contributing to 28%. The company has given order inflow guidance of 10-12%, and revenue guidance of 12-15% for FY24.
Impact: Positive