According to The Economic Times, Larsen & Toubro (L&T) has secured a 'significant' order from Oberoi Realty for the construction of seven high-rise residential towers in Gurugram. The project has been awarded to L&T's buildings and factories business vertical, as disclosed in a filing to BSE. The deal size for the residential towers was not disclosed by the company, but as per The Economic Times, an order ranging between ₹1,000 crore and ₹2,500 crore is classified as 'significant' under L&T's business framework.
As reported by The Economic Times, the scope of the Oberoi Realty order includes RCC shell and core construction, along with earthworks and piling, all to be executed within 'stringent timelines'. The construction business has also secured an order for the construction of a proving ground (testing facility) from an unnamed 'reputed international company' in Haryana. The facility will enhance testing infrastructure for vehicles equipped with the latest technology, with the scope extending beyond the proving ground to include finishing works and external development relevant to the facility.
According to The Economic Times, L&T's buildings and factories vertical possesses domain knowledge, expertise and experience in delivering EPC solutions across various segments including hospitals, public spaces, airports, data centres, residential buildings, commercial spaces and factories. The company's capabilities extend to automobiles, proving tracks, new energy facilities like solar panel and battery storage plants, paint and chemical plants, glass plants, food processing units and other complex industrial structures. Larsen & Toubro operates as a USD 30 billion Indian multinational engaged in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing, and services across multiple geographies.
As reported by The Economic Times, the announcement was made on Thursday, with the contract details being disclosed through the company's regulatory filing. The project award represents L&T's continued expansion in the residential construction segment and highlights the company's strong position in the Indian real estate development market. L&T shares were trading at ₹4,033.00 per scrip after rising by ₹10.85 (+0.27%) as of 12:15 on April 23, according to market data from The Economic Times.
