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Rs 4,75,800 crore order book: LIC-backed multibagger civil construction company bags offshore order between Rs 2,500 to Rs 5,000 crore from ONGC

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Rs 4,75,800 crore order book: LIC-backed multibagger civil construction company bags offshore order between Rs 2,500 to Rs 5,000 crore from ONGC

The shares of Larsen & Toubro Ltd. saw a 2.41 percent increase today, closing at Rs. 3,716.80 a share, up from Rs. 3,629.35 yesterday. The 52-week high and low for the stock are Rs 2,340 and Rs 3,948.60, respectively.

The Oil & Natural Gas Corporation (ONGC) has awarded an order to Larsen & Toubro Ltd (L&T)’s Hydrocarbon Vertical (L&T Energy) for the Daman Upside Development Project-Wellhead Platforms & Pipelines (DUDP-WP), which is located off the west coast of India. The engineering, procurement, building, installation, and commissioning of four wellhead platforms, a 140-kilometer pipeline, and related topside improvements at the Tapti Daman block in an offshore Western position are all included in the scope of work. Between Rs 2,500 and Rs 5,000 crore is the order.

The Buildings & Factories business section of Larsen & Toubro Construction previously won several contracts, one of which being a sizable order from the Institute of Neurosciences Kolkata to plan and construct a medical college and hospital campus in Rajarhat, Kolkata. Along with dormitories for residents, workers, and students, this 605-bed hospital complex will also house a 150-student medical college. The project will have a total area of 1.21 million square feet and be built in two parts over the course of five years. The work includes civil constructions, building finishes, paramedical facilities, mechanical, electrical, and plumbing (MEP) systems, and external development, such as landscaping. In addition, L&T got more orders from ongoing projects, increasing the contracts’ total value to over Rs 2,500 crore.

Large Indian conglomerate Larsen & Toubro (L&T) has its fingers in a lot of different pieties. Engineering, procurement, and construction (EPC) solutions for a variety of industries, including infrastructure, electricity, hydrocarbon (oil & gas), and defence, are their main business. They even have a real estate division in addition to producing specially made machinery for these sectors. With companies like L&T Infotech and Mindtree, L&T is a significant player in the IT services industry. Through L&T loans Holdings, the company offers financial services like housing and rural loans. They even supervise development projects that include power generating, toll collection, and infrastructure.

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With a market valuation of Rs 5 lakh crore, the company has been paying out a respectable dividend of 34.6%. The corporation is owned by Life Insurance Corporation of India (LIC) to the tune of 11.19%. As of March 31, 2024, the company has a healthy order book at Rs 4,75,800 crore. The company has gained 59% since its 52-week low and has produced multibagger returns of 150% over the last three years. This large-cap stock is a must-keep for investors.

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