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L&T signs MoU with Tamil Nadu government to build data centre at Kanchipuram

News: L&T has signed an MoU with the Tamil Nadu government to build a data centre at Kanchipuram. L&T will establish 90 MW capacity data centres and associated units in a phased manner over the next five years. The Tamil Nadu government will supply uninterrupted power and other infrastructure support.

View: L&T will be stablishing hyper scale data centres at Kanchipuram to provide comprehensive solutions and end to end data centre services, with multi-cloud managed and cyber security services, digital transformation integration services and application integration services.  L&T is using technology and innovation for diversified and sustainable growth. Going forward, we expect the strong order book to enhance its revenue visibility in the medium term. We expect standalone revenue, EBITDA CAGR of 12.1%, 12%, respectively, over FY21-23E

Impact: Positive