L&T Secures Major Order for Agra Metro Phase 1 Construction

16 Oct 2024 , 04:01 PM

Larsen & Toubro (L&T) has secured a ‘significant’ contract from the Uttar Pradesh Metro Rail Corporation for the Agra Metro Phase 1, Line-2 project. The project involves the construction of a 15.09 km elevated viaduct and 14 stations from Agra Cantonment to Kalindi Vihar.

L&T classifies ‘significant’ orders in the range of ₹1,000 Crore to ₹2,500 Crore. The contract also includes a 2.61 km depot, architectural finishes, electrical, and mechanical works.

The scope of work extends from Sadar Bazar to the PAC Depot, incorporating both metro line and depot construction. Project completion is targeted within 30 months.

At the time of writing on October 16, 2024 at 12:59 pm, shares of Larsen & Toubro (L&T) is trading at ₹3531 which is a 0.59% sip than the previous close. Larsen & Toubro (L&T) has gained 13.83% in the last one year, and 0.16% since the beginning of the year.

SV Desai, whole-time director and senior executive VP at L&T, highlighted the company’s strong engineering and execution capabilities for the project.

Last week, L&T’s president R Shankar Raman expressed optimism about reaching the company’s target of ₹3.33 lakh Crore in orders for the year. While L&T is aiming for a 10% growth, Shankar Raman acknowledged that global economic challenges could impact project orders.