L&T's construction arm wins orders worth Rs 1926 crore; shares down ahead of Q2

Larsen & Toubro's construction arm on Tuesday bagged orders worth Rs 1926 crore across its several business segments. 

The company received a major order from Odisha Power Transmission Corporation Ltd. (OPTCL) for operating in five circles of the WESCO utility area in Odisha. For the same, it also bagged order from Madhyanchal Vidyut Vitaran Nigam Ltd. (MVVNL), Lucknow in three tehsils of Unnao district in the state of Uttar Pradesh.

It also won orders from customers for turnkey construction of solar PV plants in the states of Uttarakhand and Rajasthan.

L&T Construction won order worth Rs 571 crore under its power transmission and distribution business. It bagged order worth Rs 514 crores  for the construction of a medical college and a 500-bed hospital from Bihar Medical Services & Infrastructure Corporation.

An engineering, procurement and construction order worth Rs 397 crore from Rural Water Supply & Sanitation Board, Government of Odisha was also in the list.

The company said that it also bagged order of Rs 298 crores from Steel Authority of India (SAIL) for integrated water circulation system of a Steel Melt Shop (SMS III) in the Bhilai Steel Plant.

Lastly, orders worth Rs 146 crore involved in development of the special bridges across the Durgam Cheruvu Lake from a prestigious client. 

Shares of Larsen & Toubro were trading at Rs 1323.50 per share on BSE Sensex, down by Rs 25 or 1.84%. 

Company will announce its second quarter result which is set to announce on November 22, 2016.