L&T wins ₹15,000cr contract from Adani Power for 6,400MW project
What's the story
Larsen and Toubro (L&T) has bagged a major contract from Adani Power Ltd. The deal is worth over ₹15,000 crore and involves setting up eight thermal power units with a total capacity of 6,400MW. The project will be executed by L&T Energy - CarbonLite Solutions (LTECLS), the company's business vertical for advanced power and low-carbon technologies.
Strategic partnership
Deal strengthens our position as key partner: L&T President
The contract entails design, engineering, manufacturing, supply and commissioning of boiler-turbine-generator (BTG) packages and associated systems. Subramanian Sarma, L&T's Deputy MD and President, emphasized the importance of this deal in India's energy landscape. He said it strengthens their position as a key partner in developing the country's essential energy infrastructure amid rising demand for reliable and affordable power.
Financial growth
Financial performance and share movement
L&T recently reported a 29.9% rise in its net profit for the June quarter to ₹3,617 crore from ₹2,786 crore last year. The company's revenue also grew by 15.5% to ₹63,678 crore from ₹55,119 crore during the same period last year. Following this announcement, L&T shares were trading 1.53% higher at ₹3,662.5 apiece today afternoon.