L&T bags order worth over ₹15,000 crore to set up thermal power plants in Madhya Pradesh, Bihar

Larsen and Toubro Ltd. on Tuesday, November 12, said its Energy CarbonLite Solutions business has bagged an 'ultra mega' order from NTPC Ltd. to set up thermal power plants in Madhya Pradesh and Bihar, confirming CNBC-TV18's newsbreak last month.

L&T classifies orders above ₹15,000 crore as 'ultra mega' ones.

The work will involve design, engineering, manufacturing, supply, construction and commissioning of boilers, turbines, electrostatic precipitators, auxiliaries, and related mechanical, electrical, instrumentation and civil works.

"We look forward to delivering the projects with exceptional outcomes that meet our high standards of execution within a strict timeline," said Subramanian Sarma, the whole-time director and president (Energy), L&T.

Last month, CNBC-TV18 had reported, quoting sources, that L&T had emerged as the lowest bidder in a key thermal power plant project. The bids were called the BTG, EPC of BTG power plant construction of three NTPC-run plants of 2.4, 2.4 and 1.6 GW capacities.

L&T reported its second quarter numbers last month. Its net profit increased 5.4% to ₹3,395.3 crore from the previous year's ₹3,223 crore. Its revenue from operations surged 20.6% to ₹61,554.6 crore against ₹51,024 crore in the previous year.

At the operating level, EBITDA increased 13% to ₹6,362 crore from last year's ₹5,632 crore. crore

Its EBITDA margin stood at 10.3% compared to last year's 11%.

L&T shares were trading 0.2% up at ₹3,636 apiece at 10.30 am on Tuesday, November 12. The stock has gained 19.3% in the past year.