A wholly owned L&T Parcel Project, Larsen and Toubro Ltd stated that it has signed a MoU – memorandum of agreement with Valor Estate Limited to develop several real estate projects in Mumbai.
Regarding this, the company stated in a regulatory filing, "Definitive agreement will be signed subject to satisfactory completion of due diligence and fulfillment of conditions precedent”.
The statement of L&T was in a respond to a news source which stated that L&T Realty and Valor Estate will mutually develop a real estate project worth Rs.20,000 crore in Bandra-Kurla Complex in Mumbai.
The power transmission and distribution business of the company secured multiple orders in the range of Rs.2, 500 crore to Rs.5000 crore to build grid elements, creating the strength of Clean energy transition.
The net profit came in lower than a CNBC-TV18 poll estimate of ₹2,873 crore but jumped 12% on a year-on-year (YoY) basis from Rs 2,493 the infra major reported a year ago in the same quarter.
Previous week, the company Larsen & Turbo ltd posted a combined PAT-Profit after Tax or net profit of closely Rs.2,786 crore in the June month quarter of the fiscal year 2024 – 2025 with the support of revenue from higher standards.
In the income statement of the company, the organization made the engagement rate to retain its direction for the ongoing financial year. The company projects the inflow of orders for financial year 2025 to expand by 10%, income growth of 15% and the core margin rate of 8.25%.
The core business of L&T for the June quarter saw margin of 7.6% and 20 points up from the previous year, but still it is lesser than the company’s guidance.
The shares of the L&T were 0.4% higher at 3.790.6 respectively at 11.25 AM.
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