L&T wins ₹10,000cr orders in Bengaluru, Mumbai
What's the story
Larsen and Toubro (L&T) has bagged major orders worth up to ₹10,000 crore in India. The company's buildings and factories vertical will be constructing one of the largest proposed IT parks in Bengaluru and a mixed-use development project in Mumbai. The Bengaluru project is for a leading multinational company and has a development potential of 5.9 million square feet.
Project details
Bengaluru IT park to be developed in 2 phases
The Bengaluru IT park will be developed on a lump-sum turnkey basis and delivered in two phases. The project includes office space development on a warm shell basis with USGBC new building: platinum rating toward LEED certification for sustainability. It involves constructing six towers and extensive works such as civil structure work, unitized facade glazing, architectural lighting, finishes, electromechanical services, among others.
Construction timeline
Mixed-use development project to be completed within 45 months
The mixed-use development project in Mumbai is being constructed for a renowned developer and is expected to be completed within 45 months. The latest order wins come after L&T's shares were downgraded by brokerage firm BofA Securities from "buy" to "underperform." Despite the downgrade, L&T's shares were trading at ₹3,742.9 apiece at the time of writing, marking a 9.44% gain over the last six months.