Companies

L&T Heavy Engineering bags orders worth Rs 1,600 crore

Our Bureau Mumbai | Updated on July 20, 2018 Published on July 20, 2018

The heavy engineering business of infrastructure major Larsen & Toubro (L&T) has bagged orders worth Rs 1,600 crore since the beginning of the current financial year.

According to a company statement, majority of the orders that include reactors and heavy equipment to refining, petrochemical and liquified natural gas (LNG) industries, came from international markets.

Orders worth Rs 1,470 crore are from international clients from the US, Europe, West Asia, CIS and China. These orders will be executed at company’s coastal manufacturing facility at Hazira, Gujarat.

“With firming up of the oil prices, we are witnessing good traction in global greenfield and brownfield hydrocarbon projects,” Shailendra Roy, Whole-Time Director (Power, Heavy Engg. & Nuclear), L&T, said.

The heavy engineering arm of L&T had recorded an order inflow of Rs 2,097 crore during the January-March quarter. Revenue stood at Rs 1,148 crore, recording a y-o-y growth of 23 per cent.

The unit had secured fresh orders valued at Rs 5,848 crore during the year ended March 31, 2018. Total order book of the business increased by 13 per cent to Rs 13,523 crore as on March 31, 2018.

Published on July 20, 2018
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