L&T wins major order for Mumbai housing redevelopment project
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On the reaction day the stock moved 0.5 pts less than Nifty 100 and in line with its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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L&T's Residential, Commercial Buildings and Factories business has secured a major order (Rs 5,000 to 10,000 crore range) from a reputed client for a large-scale housing redevelopment project in Mumbai. Scope covers design and construction of 26 high-rise towers, each 120 metres tall, on a turnkey basis including structural works, architectural finishes and electromechanical services. L&T will use its large-wall panel precast construction technology, with components made off-site and assembled at location for faster delivery.
Strengthens RCF order book and highlights strong demand in Mumbai redevelopment. Large orders are routine for L&T so expected stock reaction is limited.