L&T wins Rs 1,015 cr order in second quarter

Engineering and construction major Larsen & Toubro (L&T) has bagged new orders worth over Rs 1,015 crore in the building and factories segment during the second quarter.

In an exclusive interview with CNBC-TV 18, N Subramaniam, senior executive vice-president and board member said these orders have taken the total order book of the company to Rs 90,500 crore.

The construction arm of the $11.7-billion group secured orders worth Rs 692 crore for developing IT campuses and construction of a commercial establishment, the company said in a statement issued here today. The company did not name the clients.

On margins, Subramaniam said with tightening of interest rates and the price hike on petrol , “there is a tightening that is seen as we go by.”

In the residential buildings and factories segments, L&T won new orders valued at Rs 323 crore for constructing a residential tower and additional orders from on-going projects in the factories segment, it said.

“These orders further augment the order book of the company, which has already secured major design and build contracts in the sectors of airports, IT parks, commercial and residential buildings,” the statement said.

Subramaniam added that the company will continue to book for more orders, and will continue to look for new ways to grow.

Watch video:

With inputs from agencies