L&T shares rise as firm’s offshore hydrocarbon arm wins ultra mega contract

L&T classifies contracts above ₹15,000 crore as 'ultra mega' orders. The company in a statement to the stock exchanges informed that this is the largest single contract ever received by L&T.

The project includes engineering, procurement, fabrication, installation, and commissioning of two offshore compression complexes, each comprising large offshore platforms with compression & power generation facilities, living quarters, flare platforms, interconnected bridges, and other associated structures to be located at approximately 80 km off the northeast coast of Qatar.

Shares of L&T were trading 0.65% higher at ₹3,492 apiece on the National Stock Exchange.

Commenting on the order, L&T chairman and managing director S N Subrahmanyan said, “Securing QatarEnergy LNG's Ultra Mega Offshore Contract—the largest single order in our history—is a landmark achievement. This prestigious project strengthens our global energy portfolio while supporting Qatar's energy security objectives. I thank QatarEnergy LNG for placing their trust in L&T to deliver this complex and strategically important project. We look forward to setting new benchmarks in project execution that will reinforce Qatar's position as a global LNG leader.”

Larsen & Toubro is a $27 billion Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

Last week, L&T’s board had approved a borrowing proposal of ₹12,000 crore. The board at its meeting had also approved the appointment of Subramanian Sarma, Whole-time Director & President, Energy, as the Deputy Managing Director & President of the company with effect from April 2, 2025, to February 3, 2028.

The company’s international orders stood at ₹62,059 crore during the December quarter and comprised 53% of the total order inflow.

The consolidated order book of the group as of December 31, 2024, is at ₹564,223 crore, registering a growth of 19% over March 2024, with the share of international orders at 42%.