- 23 Mar 2023
- ICICIdirect Research
Larsen & Toubro wins multiple orders
LT - 2236 Change: 17.05 (0.77 %)News: The construction arm of L&T has secured significant orders (ranging from Rs 1,000 - Rs 2,500 crore) for its water & effluent treatment and buildings & factory businesses. L&T Construction has secured a repeat order from the Drinking Water & Sanitation Department, Government of Jharkhand to execute a raw water transport system on a turnkey basis from the proposed intake at Neghra, Rajmahal in Sahibganj district to Sundar Dam in Godda district. The project will provide bulk raw water to villages in Sahibganj, Godda and Dumka districts of Jharkhand. The building & factories business of L&T Construction has won an order from a reputed developer to construct residential towers in Bengaluru. The project is to be executed within stringent timelines
Views: L&T’s total ordering prospects/pipeline for Q4FY23E is at Rs 487000 crore, comprising Rs 382000 crore of domestic and Rs 105000 crore of international pipeline. With a strong order inflow of Rs 154429 crore for 9MFY23 with order backlog of Rs 386588 crore and improving margins we are expecting L&T will achieve revenues and EBITDA CAGR of 15.1% and 16.6%, respectively, over FY22-25E
Impact: Positive