L&T Construction awarded large contractsLT - 1610 Change: 62.15 (4.02 %)
News: L&T Construction has been awarded a large contract ( ranging between Rs.2500 and Rs.5000 crore) for its buildings & factories business by the Government of Odisha to construct clinical blocks & allied infrastructure for a state-of-the-art hospital in Cuttack. The duration of this EPC project is 30 months.
Views: Overall, L&T has won orders worth 68700 crore for H1FY22. Further, continued momentum to win large/mega complex orders/ projects would substantially improve L&T's order intake for FY22E despite a challenging environment. This will further strengthen its order book and enhance its revenue visibility in the medium term. We expect standalone revenue, EBITDA CAGR of 12.1%, 12%, respectively, in FY21-23E.