L&T Wins Large Construction Orders Valued up to ₹5,000 Crore from Brigade Group

Larsen & Toubro Ltd. (L&T), a prominent engineering and infrastructure company in India, has secured considerable contracts with Brigade Group for the construction of a large residential project in Hyderabad and a similar project in Chennai. The orders, which are “large” as per L&T classification, are in Rs 2,500 crore to Rs 5,000 crore range.

The deal is L&T’s biggest residential project ever from a private client and was announced on Friday, March 21. Piling up the megas in the two cities will be the Building & Factories division of the company.

In Hyderabad, L&T will construct Brigade Gateway Residences at Neopolis, located in Kokapet, which will include two luxury towers, one of which will be among the tallest towers in the city. As well, the company plans to build Brigade World Trade Centre at Kokapet, a commercial tower that will exceed 200 metres with over 50 floors. The project will also include a retail space and a five-star hotel called Brigade Neopolis.

In Chennai, L&T would undertake the assembly operations of Brigade Altius, a 3 signature towers development, and Brigade Morgan Heights another premium residential project.

These will all be delivered on a design-and-build basis. These were reported by L&T in an exchange filing, highlighting the magnitude and importance of the projects.

After the announcement, L&T’s share price jumped 2% to ₹3,418, as investors upbeat about the company’s growth prospects. But the stock is still 13% down from its previous peak of ₹3,964.

This new contract adds to L&T’s dominance in India’s real estate and infrastructure space, and its list of marquee projects.