Now Reading: L&T bags Rs 15,000 crore gas project and three BESS contracts in West Asia
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L&T bags Rs 15,000 crore gas project and three BESS contracts in West Asia
L&T bags Rs 15,000 crore gas project and three BESS contracts in West Asia
Larsen & Toubro closed at Rs 4,119 on the NSE on Tuesday, up 0.71 per cent, after announcing two large West Asia orders on consecutive days. The LTEH Onshore division signed a…
Larsen & Toubro closed at Rs 4,119 on the NSE on Tuesday, up 0.71 per cent, after announcing two large West Asia orders on consecutive days. The LTEH Onshore division signed a contract valued above Rs 15,000 crore for ultra-mega gas compression facilities, including two 230 kV substations. L&T's Renewables business separately won a major order worth Rs 5,000, 10,000 crore for three Battery Energy Storage System projects totalling 6 GWh capacity with liquid cooling and grid interconnections.
The stock touched an intraday high of Rs 4,125.30. L&T is a $32 billion Indian multinational with eight decades in EPC, hi-tech manufacturing and services. The buyer of the BESS projects and the client for the gas compression facility have not been named by the company.
Indian Opinion Analysis
The contract classification used by L&T, ultra-mega (over ₹15,000 crore) and major (₹5,000, ₹10,000 crore), follows its own internal thresholds, not a formal government category. West Asia has become L&T's fastest-growing geography for hydrocarbon and renewable energy EPC work. The company's renewables order book has expanded sharply since 2023 as Gulf states push battery storage to back up solar capacity. At Rs 4,119, L&T trades at roughly 30 times trailing earnings, a premium that reflects its execution record on large international projects. The next milestone to watch is the client's payment schedule and any subsequent disclosure of the client identity, which L&T has not yet named.
Source: thehindubusinessline.com
This brief was synthesised by AI from the source linked above.
