Larsen & Toubro Ltd., the engineering and infrastructure conglomerate announced that it has won a 'large' offshore order from ONGC for its Daman Upside Development Project - Wellhead Platforms & Pipelines (DUDP-WP) off India's West coast.
L&T has classified the order as 'large' which means that the order value ranges between ₹2,500 crore to ₹5,000 crore.
The scope of the work includes engineering, procurement, construction, installation and commissioning of four wellhead platforms, a 140-km pipeline and associated topside modifications at the Tapti Daman block at a western offshore location.
Towards the end of March this year, L&T Construction's buildings and factories vertical had won multiple orders in the range of ₹2,500 crore to ₹5,000 crore in the domestic and international markets.
For financial year 2025, L&T expects to win 10% more orders than it did in financial year 2024. It also expects its topline to grow by 15% from the year gone by. However, the company guided for margins to be at 8.25% for financial year 2025. The guidance estimate among analysts ranged from 9% to 9.5% for the year.
Shares of Larsen & Toubro surged to the day's high post the order win, currently trading 1.9% higher at ₹3,700. The stock is up 5% so far on a year-to-date basis.
Also Read: L&T Bankruptcy Petition: A ₹200 crore pipe producer sues infra giant for non-payment of dues
L&T has classified the order as 'large' which means that the order value ranges between ₹2,500 crore to ₹5,000 crore.
The scope of the work includes engineering, procurement, construction, installation and commissioning of four wellhead platforms, a 140-km pipeline and associated topside modifications at the Tapti Daman block at a western offshore location.
"This order demonstrates ONGC’s confidence in L&T forged through execution of multiple complex offshore projects and also reinforces L&T’s commitment to contribute towards India’s energy security," said Subramanian Sarma, Whole-time Director and President (Energy) of L&T was quoted as saying.
Towards the end of March this year, L&T Construction's buildings and factories vertical had won multiple orders in the range of ₹2,500 crore to ₹5,000 crore in the domestic and international markets.
For financial year 2025, L&T expects to win 10% more orders than it did in financial year 2024. It also expects its topline to grow by 15% from the year gone by. However, the company guided for margins to be at 8.25% for financial year 2025. The guidance estimate among analysts ranged from 9% to 9.5% for the year.
Shares of Larsen & Toubro surged to the day's high post the order win, currently trading 1.9% higher at ₹3,700. The stock is up 5% so far on a year-to-date basis.
Also Read: L&T Bankruptcy Petition: A ₹200 crore pipe producer sues infra giant for non-payment of dues
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