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L&T targets order pipeline of Rs 9 trillion for FY24-25; CFO
Industry News- Jul 31,24
There are infrastructure project opportunities worth $60 billion in the Middle East, with L&T targeting to secure 5-10% of these projects.
Larsen & Toubro (L&T) foresees a promising order pipeline of Rs 9 trillion for the on-going financial year, as revealed by R. Shankar Raman, Chief Financial Officer on July 24. He stated that approximately 60% of this prospective pipeline will originate from projects within India.
Shankar Raman detailed that the energy sector alone contributes around Rs 2 trillion to the order pipeline. He highlighted the significant opportunities arising from infrastructure and energy transition projects, driven by both the Indian government and international efforts.
During the company's post-Q1FY25 earnings conference call, Shankar Raman mentioned the consolidated order book of the L&T group stood at Rs 4.9 trillion as of June 30, 2024, with 38% of these orders coming from international projects. This marks a 19% growth compared to the Rs 4.12 trillion as of June 30, 2023 and Rs 3.63 trillion as of June 30, 2022.
Despite a slowdown in order inflows from the Indian market in Q1FY25, mainly due to the Lok Sabha elections, L&T saw an 8% increase in order inflow to Rs 709.36 billion, driven by strong ordering momentum from the Middle East. However, Shankar Raman cautioned that the on-going Israel-Hamas conflict could disrupt future order inflows, though countries like Saudi Arabia have robust plans extending to 2030 and 2035.
Shankar Raman also noted that there are infrastructure project opportunities worth $60 billion in the Middle East, with L&T targeting to secure 5-10% of these projects.
(Source: Moneycontrol)
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