Larsen & Toubro will hold a meeting of the Board of Directors of the Company on 8 May 2024.Powered by Capital Market - Live News

Larsen & Toubro (L&T) has announced the completion of divestment of L&T Infrastructure Development Projects (LTIDPL), a joint venture between Larsen & Toubro and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively. LTIDPL has been a pioneer in PublicPrivate-Partnership (PPP) model of Infrastructure development in India. Both L&T (51%) and CPP Investments (49%) stakes have been acquired by Epic Concesiones, an investee company of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors (EAAA). This deal is in line with L&T`s strategy to exit non-core businesses for reducing its exposure to the asset heavy developmental projects portfolio thereby enhancing its Return on Equity.Powered by Capital Market - Live News

L&T GeoStructure wholly owned subsidiary has recently secured multiple orders from across India. According to the company`s project classification, the value of the orders ranges between Rs 1,000 crore to Rs 2,500 crore. The business has secured an order from the Paradip Port Authority (PPA), to construct a South Breakwater Extension, Groynes and a Breakwater Toe Protection Wall at Paradip Port, Odisha. The major scope of work includes extension of the existing south breakwater by 500 mtr, construction of 10 Groynes on the northside of North Breakwater for a cumulative length of 1650 mtrs, breakwater toe protection works using steel/sheet piles to deepen the draft of the approach channel. The business has also secured an order from the Hindustan Shipyard Limited (HSL), to augment the Slipway-4, Visakhapatnam, Andhra Pradesh. The major scope of work includes upgrading the slipway, constructing the crane track and allied services such as gas utilities, firefighting system and supply and erecting a 300 MT Goliath crane. Further, the business has secured an order from a reputed real-estate developer to construct substructure works in Chennai. The major scope of the work includes construction of a retention system involving anchoring works and deep excavation. Powered by Capital Market - Live News

The Buildings & Factories (B&F) vertical of Larsen & Toubro Construction (L&T) has won multiple orders in the domestic and international markets. According to the company`s project classification, the value of the orders ranges between Rs 2,500 crore to Rs 5,000 crore. The Business has secured a contract to construct the Al Namaa General Hospital from the Ministry of Health, Sultanate of Oman. The scope of works includes construction of a 165- bed hospital building (G+4) including basement and ancillary buildings like substations, STP, etc. The project is to be executed in 30 months involving civil structures, finishes, MEP services, medical equipment, and external development, including landscaping. In the domestic market, the Business secured an order for �Construction of Maa Kamakhya Temple Access Corridor, Assam� on a Design & Build Turnkey Basis from the Assam PWD. The scope of work includes a Multi Utility Building, Pilgrim Management Block, Chinnamasta Block, Siddheshwar Block and Access Corridor for the temple. The other scope of work involves finishes & allied MEP services along with external development within the site premises. Further, the Business received an order from a subsidiary of a leading Paint Manufacturing Company to construct a polymer manufacturing plant in Gujarat. The scope involves Civil, Structural & Architectural works including External Development Works. Lastly, the Business got an order for a Solar Glass Manufacturing Plant in Gujarat. The scope involves Civil, Structural & Architectural works. Powered by Capital Market - Live News

The Board of Larsen & Toubro will meet on 26 March 2024 to consider a proposal for fund raising. Powered by Capital Market - Live News