Larsen & Toubro

Larsen & Toubro won a large offshore EPCIC order from ONGC for the Additional Development of Ratna-I and NLM-14 projects off India’s west coast. The contract covered three well-head platforms, one riser platform, multiple subsea pipelines and cables, and brownfield modifications to existing offshore installations. L&T classified the award as large, a category valued at ₹5,000 crore to ₹10,000 crore. The award was separate from the ONGC offshore order announced in August for a PRP-X subsea pipeline and well-head platforms. L&T’s FY26 consolidated revenue was about ₹2.86 trillion and its order book was roughly ₹7.8 trillion.

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Sept 9 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO- L&T WINS LARGE OFFSHORE ORDER FROM ONGC

• LARSEN AND TOUBRO- ORDER VALUED BETWEEN 25 BILLION RUPEES TO 50 BILLION RUPEES

Source text: ID:nnAZN4TJ3NE

Further company coverage: LART.NS

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BENGALURU, Sept 7 (Reuters) - India's space agency ISRO said it would remain the country's leading space institution after its staff association raised concerns about plans to transfer certain activities to private and state-run companies.

India is one of the world's leading spacefaring nations.

The Indian Space Research Organisation has sent a spacecraft to Mars, landed near the moon's south pole and developed its own launch vehicles. It is also preparing for the country's first crewed spaceflight.

"ISRO will continue to remain India's principal institution for advanced space research and technology development, national and strategic missions, space science and exploration, and critical and frontier space capabilities," the agency said in a post on X on Sunday.

It added that the organisation would "neither be privatised nor will its importance be diminished".

The statement followed a Sept. 4 staff association letter, reported by media and also reviewed by Reuters, in which some ISRO employees sought clarity from ISRO Chairman V. Narayanan over reports that manufacturing and operational responsibilities currently handled by the agency is transferred to companies.

Staff also sought clarity on recent statements about privatising some ISRO activities, saying there had been no formal communication from the Department of Space, which oversees the agency.

Prime Minister Narendra Modi's government has sought to expand private-sector participation in India's space industry since opening the sector to private companies in 2020. Industry has increasingly taken on rocket manufacturing and other activities previously dominated by ISRO.

A consortium led by state-run Hindustan Aeronautics and Larsen & Toubro is producing ISRO's Polar Satellite Launch Vehicle, while the government has transferred technology for the Small Satellite Launch Vehicle to HAL as part of that push.

"ISRO's role is by no means diminishing. It will remain the bedrock of Indian space sector," said Pawan Goenka, chairman of space regulator IN-SPACe, which also helps in building private industry engagement in the space sector.

"The reforms since 2020 are about expanding India's overall space ecosystem," Goenka said.

(Reporting by Nivedita Bhattacharjee in Bengaluru; Editing by Michael Perry)

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MUMBAI, Sept 1 (Reuters) - India's L&T Finance LTFL.NS has accepted bids worth 5 billion rupees ($52.66 million)for the reissue of 7.8384% September 2029 bonds, three bankers said on Tuesday.

It will offer a yield of 7.80% on this issue and had invited bids earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 1:

*Size includes base plus greenshoe for some issues

($1 = 94.9500 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

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MUMBAI, Aug 31 (Reuters) - India's L&T Finance LTFL.NS plans to raise 10 billion rupees ($105.08 million), including a greenshoe option of 5 billion rupees, through the reissue of 7.8384% September 2029 bonds, three bankers said on Monday.

It has invited coupon and commitment bids for the reissue on Tuesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 31:

*Size includes base plus greenshoe for some issues

($1 = 95.1625 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)

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Aug 26 (Reuters) - Technip Energies N.V. TE.PA:

• SELECTED BY L&T FOR A SIGNIFICANT ENGINEERING SERVICES CONTRACT FOR ADNOC OFFSHORE IN THE UAE

• "SIGNIFICANT" AWARD REPRESENTS €50 MILLION-€250 MILLION REVENUE RECORDED IN Q3 2026

Source text: ID:nGNX3xGQ6V

Further company coverage: TE.PA

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Larsen & Toubro’s Renewables business won a major order to develop three battery-energy-storage projects for a notable client in the Middle East. The order was classified as Major, a category covering ₹5,000 crore to ₹10,000 crore, and included pooling substations and underground cables for grid interconnections. The projects were designed to provide a combined 6 GWh of storage, with each four-hour system using liquid-cooling technology. L&T had signed an 8 GW offshore-wind framework agreement with TenneT and Hitachi Energy on July 28, while its FY26 order book stood at about ₹7.8 lakh crore.

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Larsen & Toubro’s Energy Hydrocarbon Onshore business signed a contract for an ultra-mega gas-compression project in the Middle East, classified at more than ₹15,000 crore. The engineering, procurement and construction scope includes gas inlet and compression facilities, condensate and water handling, propane refrigeration and associated utilities; L&T’s power-transmission business will execute two 230 kV substations. The project followed major hydrocarbon awards from ONGC and Middle Eastern clients announced by L&T in August. The group reported FY26 consolidated revenue of ₹2.86 trillion and an order book of about ₹7.8 trillion.

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Aug 24 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN & TOUBRO GOT ORDER WORTH OVER 150 BILLION RUPEES

• LARSEN AND TOUBRO - SIGNS CONTRACT FOR GAS COMPRESSION PROJECT IN THE MIDDLE EAST

Source text: ID:nnAZN4TFVCP

Further company coverage: LART.NS

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By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Aug 21 (Reuters) - India is set to approve a $1.2-billion incentive scheme for the making of high-value, technologically sophisticated construction and infrastructure equipment, two government sources said, in a bid to reduce dependence on China for critical machinery.

The scheme, which is expected to be finalised soon, aims to draw $1.8 billion in fresh investment by offering incentives over seven years to domestic manufacturers of equipment including tunnel boring machines, fire-fighting equipment and elevators used in high-rise buildings, one of two the sources said.

India remains heavily dependent on imported tunnel boring machines, with China among the key suppliers of tunnelling and other boring equipment used in metro rail and highway construction, underscoring the country's long-standing struggle to build domestic manufacturing capacity.

The government of Prime Minister Narendra Modi is making a renewed push to reduce reliance on key imports even as previous attempts to boost domestic manufacturing have failed to make a dent.

The new scheme has been designed after assessing the incentives required to make local production viable against the country's existing import dependence, the sources said.

The incentive plan could benefit state-run BEML BEML.NS, which has plans to domestically manufacture tunnel boring machines, along with other equipment makers including Larsen and Toubro LART.NS and Johnson Lifts.

The plan would also include targets for local value addition for machines that are presently fully imported.

A final decision on the incentive plan is expected soon, both the sources said. India's federal heavy industries ministry and finance ministry did not respond to a request for comment.

India's construction and infrastructure equipment market, valued at 1 trillion rupees ($10.5 billion), is set to expand as the country accelerates spending on roads, metros, airports and other infrastructure.

CHINESE DEPENDENCE

Following the 2020 deadly border clashes between Indian and Chinese troops, New Delhi had imposed restrictions on investments and public procurement from Beijing.

In 2024, China gradually imposed restrictions on exports of tunnel boring machines by delaying customs clearances for shipments to India.

Imports of tunneling machinery from China dropped to $3 million in 2023-24 from $18 million a year earlier. They fell further to $500,000 in 2024-25, and were $800,000 in 2025-26.

The issue of easing restrictions on tunnel boring machines also figured in bilateral talks between the two countries last year.

In 2026, India eased restrictions on investments made by Chinese companies and gradually allowed Chinese firms to participate in government contracts.

The incentive plan aims to address the gap where India does not have sufficient manufacturing capability and has high import dependency, the first source said.

($1 = 95.6800 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Lincoln Feast.)

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Aug 20 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - CONSORTIUM WINS LARGE ORDER FOR AUTOMATED PEOPLE MOVER AT DUBAI'S AL MAKTOUM AIRPORT

• LARSEN AND TOUBRO - ORDER CLASSIFIED AS VALUE BETWEEN 25 BILLION RUPEES AND 50 BILLION RUPEES

Source text: ID:nBSEb7g1hd

Further company coverage: LART.NS

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MUMBAI, Aug 18 (Reuters) - India's L&T Finance LTFL.NS plans to raise up to 9 billion rupees ($94.07 million), including a greenshoe option of 7.5 billion rupees, through the reissue of 7.7942% August 2031 bonds, three bankers said on Tuesday.

It has invited coupon and commitment bids for the issue on Wednesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 18:

* Size includes base plus greenshoe for some issues

($1 = 95.6725 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia)

(([email protected], [email protected]))

L&T Energy Hydrocarbon Offshore secured an ultra-mega order valued above ₹15,000 crore from an unnamed Middle Eastern client to develop multiple offshore facilities. The EPCIC scope covered engineering, procurement, construction, installation and commissioning, with substantial fabrication planned at L&T’s integrated manufacturing facilities. The award followed an ultra-mega offshore order from ADNOC on 4 August and a major offshore award from ONGC on 7 August. L&T reported consolidated FY26 revenue of about ₹2.86 lakh crore and an order book of roughly ₹7.8 lakh crore, with international business accounting for 52% of the book.

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Aug 17 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO- SECURES ULTRA-MEGA ORDER FOR STRATEGIC OFFSHORE DEVELOPMENT PROJECT IN THE MIDDLE EAST

• LARSEN AND TOUBRO - ORDER ABOVE 150 BLN RUPEES

Source text: ID:nBSE3CKT8k

Further company coverage: LART.NS

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Larsen & Toubro secured a Mega order, classified at ₹10,000–15,000 crore, through Vyoma.AI and its subsidiary LTN Compute to deploy an NVIDIA B300 AI Factory for Together AI at its Chennai data-centre campus. The project will contain 10,000 NVIDIA B300 GPUs and support Together AI’s cloud platform for training, fine-tuning and inference workloads. Vyoma’s Chennai site was described as a gigawatt-scale campus, with Phase 1 designed for 250 MW and 150 MVA of power infrastructure readiness. L&T had been developing Vyoma as its sovereign AI-cloud and hyperscale data-centre business, while a July partnership with Fortanix focused on confidential computing.

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Aug 13 (Reuters) - Rappid Valves (India) Ltd RAPP.NS:

• RAPPID VALVES (INDIA) - RECEIVES 28.4 MILLION RUPEES ORDER FROM LARSEN & TOUBRO

Source text: ID:nNSE39whJY

Further company coverage: RAPP.NS

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Aug 11 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - TO TRANSFER DATA CENTER BUSINESS TO VYOMA FOR 14 BILLION RUPEES

• LARSEN AND TOUBRO - TO DIVEST 100% IN L&T NETWORK SERVICES TO VYOMA FOR 300 MILLION RUPEES

Source text: ID:nBSE7BTLBm

Further company coverage: LART.NS

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Larsen & Toubro won a batch of major orders from the Oil & Natural Gas Corporation for offshore projects on India's west coast. The work covered engineering, procurement, construction, installation and commissioning of multiple subsea pipeline segments and associated modifications under PRP-X, as well as four well-head platforms; L&T classified the orders as “Major”, a category spanning ₹5,000 crore to ₹10,000 crore. L&T's order book stood at about ₹7.8 lakh crore in the first quarter of FY27, with international work accounting for 52%. The announcement followed a separate ultra-mega offshore award from ADNOC disclosed three days earlier.

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By Abhinav Parmar

BENGALURU, Aug 7 (Reuters) - Larsen and Toubro LART.NS expects revenue from the unit which also develops drones and unmanned aerial systems, to triple over the next five years as it expands capacity in India's defence technology sector, a senior executive said on Friday.

The company's Precision Engineering and Systems division currently accounts for about 3% of the construction and engineering major's overall revenue.

L&T reported revenue from operations of 2.86 trillion rupees ($30.04 billion) for the full-year ended March 31, 2026.

"We have been building locally, now we can go global, and we would like this to scale up," Precision Engineering and Systems unit head Arun Ramchandani said at an event in Bengaluru, where L&T showcased two indigenously developed products "Vedh Mk-1" and "Chanakya".

The global drone market is projected to more than double to $79.1 billion by 2034 from $33.9 billion in 2025, expanding at a compound annual growth rate of 9.89%, according to market research firm IMARC Group.

Ramchandani said the company will increase capital spending to expand production capacity, with most of it going toward new electronics manufacturing facilities for L&T's own needs.

The focus on drones reflects the rapid growth of India's UAV market, which is projected to reach about $3.2 billion by 2030, helped by government initiatives, he added.

L&T also expects to deliver 100 new "Teer" drones to the Indian Air Force and production is underway, said Jambunathan, head of the unmanned aerial systems and aeronautics business at Precision Engineering and Systems, who goes by a single name.

($1 = 95.2075 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru; Editing by Nivedita Bhattacharjee)

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Larsen & Toubro's offshore energy arm secured an ultra-mega order, valued at more than ₹15,000 crore, from ADNOC Offshore for a major project in the Middle East covering the development of multiple offshore facilities. LTEH Offshore will act as lead partner in a consortium, executing the bulk of the engineering, procurement, construction, installation and commissioning scope as well as the upgrade of existing facilities, with significant fabrication at L&T's own yards. It is the largest single award disclosed by the company in recent weeks, following a ₹10,000-15,000 crore metals and minerals order in July. Q1 order inflow ran to ₹108,014 crore and the consolidated order book stood at ₹778,954 crore at end-June, against quarterly revenue of ₹67,942 crore.

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Aug 4 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO- WINS ULTRA-MEGA ORDER FROM ADNOC OFFSHORE

• LARSEN & TOUBRO GOT ORDER WORTH OVER 150 BILLION RUPEES

Source text: ID:nBSE2Lr4FJ

Further company coverage: LART.NS

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July 31 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - ENERGY HYDROCARBON ONSHORE SIGNS SIX-YEAR EPC AGREEMENT WITH PETROLEUM DEVELOPMENT OMAN

Source text: ID:nBSE1CN5Fv

Further company coverage: LART.NS

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Larsen & Toubro's energy business secured a Limited Notice to Proceed from NTPC for the 1,600 MW Lara Stage-III ultra-supercritical thermal power plant in Chhattisgarh. The order, in the ₹5,000-10,000 crore range, covers design to commissioning of boilers, turbines, generators, and balance of plant on an EPC basis. The full notice to proceed is subject to environmental clearance. It is the company's third ultra-supercritical project from NTPC in the past two years, reflecting repeat business from India's largest power utility. The award follows a series of large new orders recorded by L&T in recent weeks, including a mega order for metals and minerals and a major order for residential and commercial buildings. L&T's consolidated order book stood at ₹7,78,954 crore as of the June 2026 quarter, with energy projects forming a key vertical.

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July 30 (Reuters) - Larsen and Toubro Ltd LART.NS:

• SECURES LNTP FROM NTPC FOR 1,600 MW LARA STAGE-III PLANT

• GOT ORDER WORTH BETWEEN 100-150 BILLION RUPEES

Source text: ID:nBSE51z12y

Further company coverage: LART.NS

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Larsen & Toubro secured a Framework Cooperation Agreement with Dutch-German transmission system operator TenneT for a 2 GW offshore wind programme. The consortium with Hitachi Energy covers six projects, including new platforms Nederwiek 3 in the Netherlands and LanWin 5 in Germany, building on two already underway, and represents 8 GW of cumulative transmission capacity. L&T classified the order as Ultra-Mega, above ₹15,000 crores, and will execute the offshore converter platforms and associated infrastructure. It is L&T’s first offshore wind order in the ultra-mega category and follows a string of large international wins, including a ₹10,000–15,000 crore multiple-order package for its Metals & Minerals business announced a week earlier. At the close of FY26, the company’s order book stood at a record ₹7.4 trillion, and this framework further extends its backlog. The win deepens L&T’s presence in the European renewable energy market and aligns with its pivot toward new energy sectors such as green hydrogen and data centres.

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July 28 (Reuters) - Indian construction major Larsen & Toubro (L&T)LART.NS on Tuesday reported a 14% rise in first-quarter profit, as robust performance in its home market helped overcome the impact from the Middle East conflict.

Consolidated net profit for the company, considered a bellwether for capital expenditure in the Indian economy, rose to 41.23 billion rupees ($430.14 million) for the quarter ended June 30 from 36.17 billion rupees a year ago.

($1 = 95.8525 Indian rupees)

(Reporting by Urvi Dugar, Edting by Harikrishnan Nair)

(([email protected]; +91 9558725583;))

July 27 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - SECURES MAJOR ORDER FOR HOUSING REDEVELOPMENT PROJECT IN MUMBAI

• LARSEN & TOUBRO - GOT ORDER WORTH BETWEEN 50-100 BLN RUPEES

Source text: ID:nBSE9XSJhB

Further company coverage: LART.NS

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July 24 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - L&T HEAVY ENGINEERING WINS ORDERS (LARGE) IN INTERNATIONAL MARKETS

• LARSEN & TOUBRO GOT ORDER WORTH BETWEEN 25-50 BILLION RUPEES

Source text: ID:nnAZN4T9NYM

Further company coverage: LART.NS

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Larsen & Toubro's Metals & Minerals business on July 20 won multiple mega orders collectively classified in the ₹10,000-15,000 crore range from leading domestic metals and mining companies. One order is from India's largest iron ore producer, a public sector company, for a package of an 18 MTPA iron ore handling plant in Chhattisgarh, part of its expansion to 100 MTPA capacity by 2030. Another is from a Navratna public sector company for various design-and-build packages of a steel plant expansion in West Bengal from 2.5 MTPA to 7.1 MTPA. The third is an EPC order from a major private sector metals producer for a zinc processing plant, covering design, engineering, procurement, installation and commissioning. Chairman S N Subrahmanyan said the wins reaffirm L&T's leadership in the metals and minerals EPC sector and reflect customer trust in the company's ability to deliver projects of exceptional scale.

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July 20 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - ORDERS (MEGA) FOR METALS & MINERALS BUSINESS

• LARSEN & TOUBRO GOT ORDER WORTH BETWEEN 100-150 BILLION RUPEES

Further company coverage: LART.NS

(([email protected];))