- 06 Oct 2022
- ICICIdirect Research
L&T wins significant order in power T&D businessLT - 2166 Change: -40.50 (-1.84 %)
L&T has won significant (ranging from Rs1000-2500 crore) contracts for the power T&D business in UAE and India. L&T's construction business has secured an order to establish a 765 kV transmission line in Gujarat. The 'available power transfer capacity' from the inter-state transmission system will increase thanks to this network expansion. L&T has also won repeat orders to build a new 132 kV substations in the United Arab Emirates (UAE). Further, an order has been secured to establish a 380 kV overhead line in Saudi Arabia that will help strengthen the evacuation infrastructure and improve the reliability of the grid in the western region of the kingdom.
L&T has won a fifth significant order in the last two months. For Q1FY23, L&T registered strong order inflows at the group level worth Rs 41805 crore, which grew 57% YoY with Rs 363448 crore of order backlog, with international orders contributing 28%. L&T has targeted revenues and order inflow CAGR of 15% and 14%, respectively, in FY21-26 with a consolidated ROE of 18% named “Lakshya 2026”.