L&T bags contracts over Rs 1000 crore for its power transmission and distribution business

The cumulative value of all these orders wins falls within the range of Rs 1000 crore to Rs 2500 crore.

Larsen & Toubro Ltd (L&T), an Indian multinational engaged in engineering, procurement & construction (EPC) projects as well as hi-tech manufacturing & services, has secured significant contracts for its power transmission and distribution business.

On the domestic front, the renewable arm of this business segment has bagged an order that entails the construction of a 245 MW solar power project in the state of Rajasthan.

Similarly, this segment has also secured an order pertaining to the implementation of a solar photovoltaic cum storage project in the Kutch district of Gujarat.

As per the press release, this large scale, grid-interactive green energy storage project will have a 35 MW (AC) solar capacity and a 57 MWh Battery Energy Storage System (BESS).

On the international front, the company has also secured orders in the Middle East region. These orders pertain to the supply and construction of shunt reactors in 132 kV substations on a turnkey basis.

These reactive power compensation elements will be added to the 132kV network of Dubai's Electricity infrastructure. Apart from this, it will also provide voltage control to help in maintaining the highest standards of availability, reliability, and efficiency.

The company has also received additional orders from the ongoing transmission line projects.

All the above-mentioned deals are stated as significant wins, which means that the cumulative value of all the orders falls between the range of Rs 1000 crore and Rs 2500 crore.

On the revenue front, in Q3FY22, the company derived 50% of the revenue came from the infrastructure segment, 25% from the services segment, 16% from the hydrocarbon segment and the rest came from power, HE, defence, and others.

At 12.08 pm, the share price of Larsen & Toubro Ltd (L&T) was trading at Rs 1,755.95, which was an increase of 0.50% from the previous day’s closing price of Rs 1,747.30 on BSE.