Shares of infrastructure conglomerate Larsen & Toubro (L&T) gained about two percent on Wednesday, December 22, after the company secured “significant” orders ranging from Rs 1,000 to Rs 2,500 crore for its buildings and factories. On Wednesday, L&T opened on the BSE at Rs 1,839, with an intraday high of Rs 1,861 and an intraday low of Rs 1,830.55, so far in the trading session.
Larsen & Toubro’s construction arm has won a major order for its building and factory business from a leading developer, according to a regulatory filing from L&T with the exchanges today. The residential affairs of buildings and factories have landed this contract to build one of the largest residential townships in Bengaluru.
The project involves the construction of 6,768 apartments spread over 39 towers with two basements and the ground floor, along with 27 to 31 floors. In addition, the development includes 149 villas, clubhouses, swimming pools and other structures. The total built area will be 13.43 million square feet and the project is expected to be completed in 42 months.
The scope of the works includes the design and construction of the entire civil structure, including waterproofing, masonry, plastering and electrical conduction, according to the statement.
On the NSE, L&T opened at Rs 1,827.55 and hit an intraday high of Rs 1,861.95 and an intraday low of Rs 1,827.55 in the session to date. It last traded 1.32 percent higher at Rs 1,851.75 on the NSE.
At 1:51 p.m., shares of L&T traded 1.49 percent higher at Rs 1,854 apiece on the BSE.