Mumbai, May 8, 2026, 15:40 IST
Larsen & Toubro said its Buildings & Factories business won multiple large real-estate orders from a client for projects in Hyderabad, Mumbai and Karnataka, adding domestic work to its pipeline days after the Indian contractor warned of slower growth from Middle East disruptions.
The timing matters. L&T is trying to protect order momentum after guiding for 10%–12% revenue growth and similar order-book growth for the current fiscal year, while the Middle East conflict threatens shipments, payments and project execution.
Domestic orders give the company some cushion because the Middle East accounted for about 40% of L&T’s record 7.4 trillion rupee order backlog in the March quarter, with international orders making up 52% of that backlog. L&T is widely watched as a proxy for Indian infrastructure spending.
L&T classifies “large” orders as those valued between 2,500 crore rupees and 5,000 crore rupees. The company did not name the real-estate client, give a precise contract value or disclose completion timelines. LT
The Hyderabad order covers design and construction of 10 high-rise residential towers, each up to 180 metres, with two basements, 55 floors and two clubhouses. In Mumbai’s Worli district, L&T will build the reinforced cement concrete, or RCC, shell-and-core structure — the main concrete frame — of a luxury tower rising up to 260 metres, with five basements and 63 floors.
The Karnataka order covers residential villas, a luxury hotel and ancillary structures. L&T’s work there includes RCC shell-and-core construction and associated finishing work, the company said.
The Buildings & Factories vertical handles engineering, procurement and construction, or EPC, work — a model where one contractor is responsible for major design, sourcing and building tasks. Its portfolio spans residential and commercial buildings, hospitals, airports, data centres and factories.
The win comes in a competitive building-contracting market where developers continue to award large civil and finishing packages. BPTP awarded a 488 crore rupee residential construction contract in Gurugram to NCC last month, while Ahluwalia Contracts describes itself as one of India’s large civil contractors with work across building and infrastructure projects.
Still, the new work does not remove the near-term overhang. L&T finance chief R. Shankar Raman said on a post-earnings call that disruption from the Middle East would show in the first six months of the year because shipments would be delayed.
Amit Anwani at PL Capital said the company’s first half may stay soft before a recovery later in the year. “The war is not yet over,” Anwani said, adding that logistics and shipping costs remained a risk to watch. The Economic Times
HSBC Global Investment Research analysts said challenging geopolitical conditions may slow market-share gains and new market expansion, even though execution supports the long-term outlook. Emkay Research cut its L&T rating to “Add” from “Buy” after the company’s quarterly profit drop and margin pressure. Reuters
The company’s own presentation showed FY26 order inflow rose 22% and its order book grew 28% year on year, with an addressable FY27 prospects pipeline of about 17.8 trillion rupees. That makes fresh domestic orders useful, but execution speed, margins and cost recovery will decide how much of the win turns into profit.
