- 12 Oct 2022
- ICICIdirect Research
L&T WINS SIGNIFICANT ORDER IN WATER, EFFLUENT TREATMENT BUSINESS
LT - 3704 Change: -20.75 (-0.56 %)News:
L&T Construction has won significant orders (ranging from Rs 1000-2500 crore) in its water and effluent treatment business. Its repeat orders from the water resources department, Government of Odisha to execute Cluster XIX & Cluster XX Mega Lift Irrigation Projects. The aggregate scope of work includes execution of 23 lift irrigation schemes consisting of intake points spread across Anandapur Left Main Canal, Bidydharpur Barrage, Hadagarh Reservoir, Anandapur Barrage & Kharsua, Kani & Baitarani Rivers, with the objective of irrigating a culturable command area of 29,914 hectares in the districts of Keonjhar, Jajpur & Kendrapada on a turnkey basis.
View:
Given the healthy order prospects and order book, L&T is on track to maintain its revenue and order inflow guidance of 12-15%, with core EBITDA margin of ~9.5%, for FY23.
Impact:
Positive.