On Wednesday, Larsen & Toubro reported that the Middle East has given it significant orders for its Power Transmission & Distribution Business in the region of Rs 2500 crore–Rs 5000 crore. According to reports from the United Arab Emirates, a reputable service provider to the energy sector has given the company a contract to build a 220 kV gas-insulated substation and related transmission lines.
A public services infrastructure business in Dubai has placed orders for the establishment of two new 132 kV substations, and another contract has been gained for the construction of a 220 kV overhead transmission line in the area, according to L&T.
Additionally, a contract has been obtained for the turnkey building of 4 new 132kV substations in Kuwait’s Al Sabah Medical District. In a regulatory filing, L&T stated that further orders had been received for the existing projects in Qatar and Saudi Arabia, in addition to the accompanying control, protection, automation, and communication systems, and related civil & mechanical works.
The company estimates that the size of a significant order is between Rs 1000 crore and Rs 2500 crore, a large order is between Rs 2500 crore and Rs 5000 crore, a major order is between Rs 5000 crore and Rs 7000 crore, and a mega order is over Rs 7000 crore.
L&T reported its fiscal first-quarter earnings earlier in July, with a profit of Rs 2,493 crore, up 46.5 percent from Rs 1702.07 crore at the same time last year. It reported operating revenue of Rs 47,882.37, an increase of 33.6% from Rs 35,853.20 crore in the first quarter of FY23.
