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RMZ offers Rs 8.15 billion to acquire L&T's 14-acre land in Bengaluru
Posted on 10th September 2018
Bengaluru-based property developer RMZ is in the final round of negotiations to acquire 14-acre land of engineering and construction major Larsen & Toubro (L&T) in Bengaluru. If the deal goes through, it will become the largest land deal in south India this year.

RMZ has quoted around Rs 8.15 billion (Rs 0.58 billion per acre) for the land parcel in Hebbal area of Bengaluru, said sources in the know.

Larsen and Toubro’s working capital levels may shrink
Posted on 6th September 2018
Over the past decade, L&T has experienced significant growth in its core E&C business’ working capital. Our analysis suggests that in the core E&C business, working capital has increased by Rs 148 billion for L&T over FY10- FY18 (a rise of ~5x). As a percentage of E&C sales, this number has risen from ~7.3% in FY10 to ~19.1% in FY18 (peaking in FY16 at ~23%). During the same time frame, the comparable E&C revenue base has gone up ~3x.

L&T Infotech surges 7% on strong response for OFS
Posted on 4th September 2018
Shares of Larsen & Toubro (L&T) Infotech surged 7% to Rs 1,888 on the BSE in early morning trade on Tuesday after the company’s offer for sale (OFS) on Monday got a strong response from the institutional investors. The stock was trading close to its 52-week high of Rs 1,911 touched on August 21, 2018, on the BSE in intra-day trade.

Analyst corner: For Engineering and capital goods- L&T, KEC top picks
Posted on 1st September 2018
Our in-depth analysis of industrial coverage (19 stocks) across the past one and a half decades yields a couple of notable conclusions: a) Despite a weak demand scenario (FY13-18), the players that adhered to our ‘IBV framework’ — by taking strategic initiatives,balancing growth with cash flow and managing growth volatility —to expand target market outperformed by a long shot.

L&T Construction bags Rs 1,394 crore irrigation project in Madhya Pradesh
Posted on 27th August 2018
Larsen & Toubro (L&T) today said its construction arm has won an order worth Rs 1,394 crore for the execution of the Kundalia Irrigation Project – Right Bank in Madhya Pradesh (MP). “The water and effluent treatment business of L&T Construction has won an EPC order worth Rs 1,394 crore from the Water Resources Department, Government of Madhya Pradesh, for the execution of the Kundalia Irrigation Project – Right Bank,” the engineering and construction major said in a BSE filing.

L&T's board approves Rs 90-billion share buyback proposal at Rs 1500 apiece
Posted on 24th August 2018
Engineering conglomerate Larsen & Toubro’s board on Thursday approved the company’s first buyback in its 80 years, for up to 4.29 per cent of its paid-up equity capital, aggregating to a value of about Rs 90 billion. In terms of amount proposed, the buyback is the fifth largest by any Indian company.

L&T gains 2% as board approves share buyback proposal
Posted on 23rd August 2018
Shares of Larsen & Toubro (L&T) have moved higher by 2% to Rs 1,349 on the BSE after its board approved the proposal for buyback of equity shares of upto Rs 90 billion at a maximum price of Rs 1,500 per share.

“The board of directors of the Company at its meeting held today has approved a proposal to buyback up to 60 million equity shares of the Company being 4.29% of the total paid up equity share capital, at a maximum price of Rs 1,500 per share for an aggregate amount of Rs 90 billion,” L&T said in a statement.

L&T buyback offer may be of Rs 12,300 crore; board to consider proposal on August 23
Posted on 21st August 2018
Larsen and Toubro’s (L&T) buyback proposal, which will be considered by the company’s board on August 23, could be of up to `12,300 crore based on its net worth, debt, cash and bank balances, and investments in securities, bonds and debentures. As on March 31, 2018, L&T’s net worth stood at ` 49,174.25 crore on a standalone basis, while its cash and bank balances, investments in securities, bonds and debentures stood at `17,425 crore on a consolidated basis, according to Bloomberg data.

Benagluru's top developers bid for L&T land in a deal worth Rs 8-10 bn
Posted on 20th August 2018
Top developers in Bengaluru such as Salarpuria Sattva have bid for a land parcel of 14 acres being sold by engineering and construction giant Larsen & Toubro (L&T) in the city, said sources.

The land parcel is estimated to fetch the company between Rs 8 billion and Rs 10 billion. The land has development potential of 4 million square feet, and it could become the largest land deal in south India this year.

Larsen & Toubro construction arm bags orders worth Rs 12.96 billion
Posted on 6th August 2018
Larsen & Toubro (L&T) on Monday said its construction arm has won orders worth Rs 12.96 billion across business segments in the domestic market.

L&T said its metallurgical and material handling business has received orders worth Rs 8.08 billion.

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