L&T Bags New Orders
Waseem Ahmad / 28 Feb 2014
The construction major has won new orders, in various business segments, worth Rs. 5220 crore in the first two months of the year. The new orders will approximately add Rs 401 crore to the company’s overall profit.
L&T Construction has bagged new orders worth Rs. 5220 crore across various business segments during January and February 2014. After winning the orders, L&T order book has risen to Rs 176420 crore from Rs 171200 crore in Q3FY14.
In the months of January and February, the water & renewable business segment has bagged new orders worth Rs. 2013 crore while building and factories business segment advanced new orders worth Rs 1461 crore. In power transmission & distribution business segment, it has added new orders worth Rs 1001 crore and in the heavy civil infrastructure business segment, the company has bagged new orders worth Rs 739 crore.
L&T performance in the last quarter was good. It recorded 10 % of growth on a yearly basis in net profit with cost optimisation. The order book also surged to 13% YoY. The new orders will add approximately Rs 401 crore in the company’s profitability.
The stock of the company is looking attractive for investment as it is fundamentally quite strong and has given an approx 21% of return in one year. Currently, its stock is trading at 18(x) times of twelve month trailing EPS while industry average P/E comes around 22 times.
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