2:24 am - Sunday September 23, 2018

L&T gets Rs1,630 crore EPC order in Uttar Pradesh

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Mumbai: Larsen and Toubro Ltd’s construction unit has received an engineering, procurement and construction (EPC) order worth Rs.1,630 crore in Uttar Pradesh, the company said in a statement on Tuesday. L&T Construction has won the order from the Expressways Industrial Development Authority, for the construction of a six-lane access controlled expressway from Unnao district to Lucknow. L&T’s role in the project includes design, engineering and construction of the 63 km expressway, including building service roads, the statement said. The project is scheduled to be completed within 36 months. L&T, India’s largest engineering and construction conglomerate, is betting on a pick up in domestic orders as the infrastructure sector shows some signs of revival. Earlier, the management was focusing more on international projects in markets like the Middle East to counter the lull in the domestic economy. More domestic orders may bode well for L&T’s margins, as foreign projects generally come with lower margins due to intense competition from overseas players. At 9:24am, shares of L&T were trading at Rs.1,451 a piece, 0.38% higher than its previous close on the BSE, while the benchmark Sensex index fell 0.19%.

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