Construction Industry News
Larsen & Toubro Q3 consolidated sales grew 11% at Rs 39,563 crore The increase reflects improving momentum for project execution and robust growth in the IT&TS portfolio Stable group margin performance despite raw material headwinds in the EPC and manufacturing businesses L&T's consolidated net profit after tax for the quarter ended December 31, 2021 was Rs 2055 crore with a decrease of 17% In the corresponding quarter of the prior year, there was a sale of commercial real estate in the Realty business and gains on the disposal of discontinued electrical and automation businesses.
L&T order book stands at record levels of Rs 340,365 crore, provides multi-year revenue visibility The company collected orders worth Rs 50,359 crore during the quarter ended December 31, 2021, registering a 31% decline from the corresponding period of the previous year. The corresponding year had secured the largest ever EPC order for the Mumbai Ahmedabad High Speed Rail Robust order announcements and tendering activities continued at a rapid pace in the current year. With improved public finances, expect strong activity levels in Q4
During the quarter, the company reaffirmed its commitment to integrate its ESG goals with corporate objectives and is working towards becoming a 'Net Zero' company; aims for carbon neutrality by 2040 and water neutrality by 2035.
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