Larsen and Toubro raises $600 mn

October 6th, 2009 MUMBAI - Engineering and construction major Larsen and Toubro (L&T) has bagged orders worth Rs.1,513 crore during the second quarter this fiscal, the company said Tuesday. Buildings and Factories Operating Co, part of L&T's construction division, has secured a Rs.621-crore contract from DB Hospitality Ltd for building a high-rise tower, India Tower, at Charni road, Mumbai.

September 29th, 2009 NEW DELHI - Engineering and Construction giant Larsen and Toubro Tuesday said it will bid for the Indian Navy's second line of conventional submarines. The company had built India's largest shipyards, near Chennai and in Gujarat, which had the capacity to build all types of naval construction, including submarines, L&T chairman and managing director A.M.

August 20th, 2009 CHENNAI - The financial services arm of construction and engineering major Larsen and Toubro (L&T) is planning to set up a commercial bank as part of its efforts to have a presence in the entire gamut of financial services in the country. L&T Finance, which already holds 4.69 percent in City Union Bank, said here Thursday that there were related advantages of starting a bank especially to provide services to corporate partners.

August 12th, 2009 NEW DELHI - Engineering and construction major Larsen and Toubro (L&T) will supply and erect boiler and steam turbines for a 1,320-MW thermal power project that Jaiprakash Power is setting up in Madhya Pradesh. The two companies Wednesday signed an agreement in this regard.

August 5th, 2009 MUMBAI - Construction and engineering major Larsen and Toubro (L&T) Wednesday said it had bagged contracts worth Rs.853 crore for setting up coal handling plants in Uttar Pradesh and Tamil Nadu. L&T has received a contract from Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVNL) and Neyveli Lignite Corp for setting up coal handling plants at Anpara in Uttar Pradesh and Tuticorin in Tamil Nadu, the company said in a regulatory statement.

July 16th, 2009 MUMBAI - India's largest engineering and construction major Larsen and Toubro Thursday reported a 218-percent increase in net profits for the quarter ended June 30, thanks mainly to the sale of its long term investment in Ultra Tech Cement. The company said its net profit tripled to Rs.1,598.2 crore for the first quarter of this fiscal from Rs.502.44 crore during the like period of last fiscal.

July 1st, 2009 MUMBAI - Engineering and construction major Larsen and Toubro (L&T) has bagged orders aggregating Rs.651 crore (Rs.6.51 billion/$135 million) for two hydrocarbon projects. It has won a Rs.440-crore contract from HPCL-Mittal Energy to build a greenfield refinery at Bathinda, the company said in a regulatory statement Wednesday.

June 29th, 2009 MUMBAI - Leading engineering and construction company Larsen and Toubro Ltd (L&T) announced Monday that it has bagged six orders worth Rs.12.30 billion from electrical projects in the domestic market. L&T has been awarded four orders for transmission line and railway construction valued at Rs.10.31 billion, and two orders worth Rs.1.99 billion for the construction of sub-stations, the company said in a regulatory statement.

June 9th, 2009 MUMBAI - The Bombay Stock Exchange benchmark Sensex on Tuesday gained nearly 182 points with IT, FMCG, banking and metal sector stocks staging a comeback.imilarly, the National Stock Exchange index Nifty rose by 29.60 points at 4,459.50 at the same time. Major gainers were Reliance Industries up 1.06 per cent to Rs 2,212.05, Tata Steel 2.36 per cent to Rs 426 and Larsen and Toubro by 1.81 per cent to Rs 1,506.

June 2nd, 2009 NEW DELHI - Formal approvals were Tuesday granted to eight more special economic zones in the country, including those from infrastructure majors Emaar MGF and Larsen and Toubro, both in IT-related sectors. While Emaar MGF plans to set up its special economic zone for IT, electronics and hardware in Karnataka, Larsen and Toubro has planned its project in software and outsourcing in Maharashtra, an official statement said.

May 28th, 2009 NEW DELHI - Engineering and construction major Larsen and Toubro (L&T) Thursday reported a 3.3 percent rise in its net profit for the quarter ended March 31. The company said in a regulatory statement that its net profit for the January-March quarter stood at Rs.998 crore, up from Rs.967 crore in the like period of the previous year.

April 13th, 2009 MUMBAI - Tech Mahindra has bought a 31 percent stake in the fraud-hit Satyam Computers on Monday. Tech Mahindra outbid Larsen and Toubro and other companies.

March 30th, 2009 MUMBAI - Engineering and construction major Larsen and Toubro (L&T) has bagged a Rs.345 crore ($67.5 million) order from the Nuclear Power Corp of India (NPCI) for supply of four steam generators, it was announced Monday. The steam generators are critical and long lead equipment which will be supplied to the Kakrapar Atomic Power Project-3 and 4, L&T said in a statement.

February 26th, 2009 NEW DELHI - Construction and engineering major Larsen and Toubro (L&T) Thursday said it has bagged new orders worth Rs.1,162 crore (Rs.11.62 billion) for the construction of factories and residential projects. The orders have been bagged by L&T's Buildings and Factories Operating Co, which is part of its construction division.

January 22nd, 2009 NEW DELHI - Engineering and construction major Larsen and Toubro (L&T) Friday said its joint venture in Oman has bagged orders worth $245 million (Rs.11.98 billion). The orders cover construction of a hotel and apartments for the second Asian Beach Games and a mosque and underground cabling in Oman, a statement by L&T (Oman) LLC said.