L&T Contraction bags significant contracts

19 Apr 2022 , 02:51 PM

The contract has been awarded for the construction and the commissioning of water supply schemes for various towns in Tanzania.

The project is being funded by the EXIM Bank of India.

In addition, the business has also secured add-on domestic orders from the Uttar Pradesh State Water &. Sanitation Mission to implement various rural water supply projects under the Jal Jeevan Mission to provide functional house tap connections (FHTC) in the state.

As per L&T classification, the value of the significant contract lies between Rs 1,000 crore and Rs 2,500 crore.

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

The EPC majors consolidated net profit fell 16.70% to Rs 2,054.74 crore on 11.14% increase in net sales to Rs 39,562.92 crore in Q3 FY22 over Q3 FY21.

The scrip fell 1.04% to currently trade at Rs 1719.80 on the BSE.

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