- 05 Jan 2022
- ICICIdirect Research
L&T Construction awarded significant contracts for heavy civil infra business
LT - 3705 Change: 21.20 (0.58 %)News: L&T Construction was awarded a significant contract ( ranging at Rs.1000-2500 crore) for its heavy civil Infrastructure business by Delhi Metro Rail Corporation (DMRC), for the design and construction of the underground Metro Project of Phase-1 of Patna MRTS.
Views: Overall, L&T has won orders worth Rs.68700 crore for H1FY22. Further, continued momentum to win large/mega complex orders/ projects would substantially improve L&T's order intake for FY22E despite challenging environment. This will further strengthen its order book and enhance its revenue visibility in medium term. We expect standalone revenue, EBITDA CAGR of 12.1%, 12% over FY21-23E.
Impact: Positive
Overall, L&T has won orders worth | 68700 crore for H1FY22. Further, continued momentum to win large/mega complex orders/ projects would substantially improve L&T's order intake for FY22E despite challenging environment. This will further strengthen its order book and enhance its revenue visibility in medium term. We expect standalone revenue, EBITDA CAGR of 12.1%, 12% over FY21-23E |