L&T’s construction arm has won another order worth Rs2,265cr from Andhra Pradesh Capital Region Development Authority (APCRDA).
L&T Construction has bagged Rs2,265cr under its transportation infrastructure and water & effluent treatment businesses from APCRDA. The scope of the order includes investigation, design & construction of roads, drains, culverts, water supply, sewerage, sewerage treatment plants, utility ducts for power & ICT, reuse waterline & avenue plantation for land pooling schemes in zones – 6, 7 and 10 areas of Amaravati capital city.
This order strengthens L&T’s presence in the Amaravati capital region of Andhra Pradesh.The project will provide state-of-the-art infrastructure to the city of Amaravati, including wide trunk roads with flexible and rigid pavements, along with multiple facilities like cycle track, sidewalks & smart street lighting, ICT etc.
L&T’s H1FY18 inflows declined 14% yoy to Rs42,400cr, thereby leading to a cut in inflow guidance from 12-14% to flat for FY18. However, order inflows have seen significant momentum in Q3FY18 with L&T announcing orders of ~Rs24,000cr during the quarter. We are positive on the stock on account of uptick in the investment cycle. Further, its industrial driven businesses have also become more competitive and are likely to benefit from revival in corporate capex.
L&T is currently trading at Rs1,331.45, up by Rs16.95 or 1.29% from its previous closing of Rs1,314.5 on the BSE.
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