L&T construction arm secures significant order

Larsen and Toubro (L&T) said that L&T Construction's Buildings & Factories (B&F) Fast Business has secured a significant repeat order from commercial developer to construct two towers with commercial office space in Hyderabad.

As per L&T's classification, the value of the contracts lies between Rs 1,000 crore and Rs 2,500 crore.

The company will construct two towers with commercial office space with approximate built-up areas of 28.91 lakh sq. ft and 28.53 lakh sq. ft respectively.

The scope of project includes civil work for the composite structure including Mechanical, electrical and plumbing (MEP), finishes & fade to construct the towers in 6B+G+22 floors and 6B+G+41 floors configurations. The project is scheduled to be completed in 18 months.

The B&F Fast unit had recently constructed a 7-storey, Flight Control System Integration Centre for DRDO in just 45 days.

M V Satish, whole-time director & senior executive vice president (Buildings), L&T said, B&F Fast is a specialised unit that focusses on using innovative methods and deploying technology for ultra-speedy construction, securing this repeat order is a testament to our longstanding relationship with the developer and our strong capabilities to build fast and smart in this fast-growing segment.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

The EPC major's consolidated net profit rose 22.5% to Rs 2,228.97 crore on 23% rise in net sales to Rs 42,762.61 crore in Q2 FY23 over Q2 FY22.

The scrip was down 0.33% to Rs 2,146.75 on the BSE.

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