L&T Secures Multi-Crore Contracts for High-Rise Projects in Hyderabad & Chennai: Shares Jump 3%

Engineering giant Larsen & Toubro Ltd. (L&T) announced on Friday, March 21, that it has secured "large" orders from Brigade Group to construct high-rise residential and commercial towers in Hyderabad and Chennai. The orders, awarded to L&T's Buildings & Factories vertical, mark the largest residential project the company has received from a private customer.

Project Details and Significance of the Order

The Buildings & Factories (B&F) division of Larsen & Toubro has secured a major contract from Brigade Group for the construction of high-rise residential and commercial towers in Hyderabad and Chennai.

Brigade Gateway Residences at Neopolis, Kokapet, Hyderabad: This luxury residential project will feature two high-rise towers, including one of the tallest buildings in Hyderabad.

Brigade World Trade Centre, Kokapet, Hyderabad: A commercial tower exceeding 200 meters in height, comprising over 50 floors, retail spaces, and a five-star hotel named Brigade Neopolis.

Brigade Altius, Chennai: A residential complex featuring three signature towers.

Brigade Morgan Heights, Chennai: Another high-rise residential development in Chennai.

L&T has confirmed that all these projects will be executed on a design-and-build basis, ensuring efficient project delivery. L&T classifies orders ranging between ₹2,500 crore to ₹5,000 crore as "large." which signifies this recent order.

L&T Shares Today: Stock Market Reaction

Following the announcement of these orders, shares of L&T surged to the day's high, climbing 3% to trade at ₹3,455. L&T shares closed with gains today at Rs. 3,415, 1.91% higher. The stock has gained 5.85% in last five days however so far this year L&T shares have dropped 6.88%. The market company's market capitalization stood at Rs. 4.70LCr

About Larsen & Toubro (L&T)

Larsen & Toubro Limited (L&T) is a leading engineering and infrastructure conglomerate with a strong presence across multiple industries, including construction, technology, manufacturing, and defense. Headquartered in Mumbai, India, the company is recognized globally for its expertise in executing large-scale, complex projects.

L&T operates through various business verticals, including Buildings & Factories (B&F), Transportation Infrastructure, Power, Heavy Engineering, and IT Services. Its Buildings & Factories division has delivered several iconic residential, commercial, and industrial projects, making it a key player in India's real estate and infrastructure sector.