L&T wins a significant contract
9 March 2022 • Parikshit Singh
The Heavy Civil Infrastructure business vertical of L&T Construction has won a significant order from the prestigious Delhi Metro Rail Corporation Limited (DMRC), to design and construct the Underground Metro Project of Phase IV of Delhi MRTS.
The major scope of work for the project comprises Design and Construction of 5 Km of Twin Tunnel (Up & Down Line) by Shield Tunnel Boring Machine (TBM), Cut and Cover Tunnel box, Underground Ramp and four Underground stations namely Chhattarpur, Chhattarpur Mandir, IGNOU and Neb Sarai with associated works of Aerocity to Tughlakabad Corridor of Phase IV of Delhi MRTS.
A major part of works is in South Delhi and must be completed within the duration of 42 months. The project is funded by JICA and L& T takes pride to be reassociated with DMRC for this prestigious project. L&T has significantly enhanced its capability of building faster and reliable mass transit systems and this project is in line with our strategic goals.
L&T has a strong order book which is almost 1.5x higher than its market cap. The order will add a feather to the same. The current order book is around Rs 3.5 lakh crore and this order will add Rs 1,000 – 2,500 crore to it. Further, the stock has corrected significantly and is cheap. The company has entered the e-commerce and green hydrogen space which is expected to open new opportunities.
Source: BSE Filings