Consolidated revenue reached ₹67,942 crore, up 6.7% year-on-year from ₹63,678 crore, fueled by advancements in various business sectors. Revenue also surpassed the CNBC-TV18 poll estimate of ₹66,500 crore.
The company reported earnings before interest, tax, depreciation, and amortisation (EBITDA) of ₹6,116 crore, a decrease of 3.2% from ₹6,318 crore in the corresponding quarter last year. This figure was below the CNBC-TV18 poll estimate of ₹6,410 crore.
The EBITDA margin for the quarter was 9%, compared to 9.9% a year earlier and the CNBC-TV18 poll estimate of 9.6%.
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L&T garnered orders worth ₹1,08,014 crore in the quarter, reflecting a 14% year-on-year increase. Significant order wins came from various sectors, including residential and commercial construction, transportation infrastructure, ferrous metals, offshore wind, and heavy engineering.
International revenue amounted to ₹34,393 crore, comprising 51% of the company’s total revenue. International orders reached ₹60,702 crore, contributing 56% to the total order inflow.
The group’s consolidated order backlog was ₹7,78,954 crore as of June 30, 2026, marking a 5% growth from March 2026. International orders made up 52% of the overall order book.
Energy – Conventional
Larsen & Toubro’s Energy – Conventional segment achieved orders worth ₹3,053 crore in the quarter ending June 30, 2026, reflecting a 90% decline year-on-year. This drop was attributed to the postponement of anticipated orders and a high base effect from an ultra-mega order won in the CarbonLite Solutions business in the same quarter last year.
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International orders constituted 77% of the total order inflow for the quarter. The segment’s order book was ₹2,21,541 crore as of June 30, 2026, with international orders accounting for 63% of this total.
Customer revenues for the quarter totaled ₹14,239 crore, showing a 14% year-on-year increase, aided by improved execution in the Hydrocarbon and CarbonLite Solutions businesses. International revenues represented 68% of the segment’s overall customer revenue.
The segment recorded an EBITDA margin of 7.6% this quarter, in comparison to 7.5% in the same period last year.
Energy – Green
L&T’s Energy – Green segment secured order inflows of ₹33,042 crore during the quarter, reflecting a 58% year-on-year growth. This rise was driven by the acquisition of ultra-mega orders in the Offshore Wind sector.
International orders accounted for 98% of the total order inflow during the quarter. The segment’s order backlog stood at ₹1,46,700 crore as of June 30, 2026, with international orders contributing 97%.
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Customer revenues for this segment were ₹5,607 crore, a decline of 11% year-on-year. This drop was largely due to supply chain disruptions stemming from the West Asia conflict impacting the Solar business.
International revenues made up 87% of the segment’s total customer revenues during the quarter. The segment’s EBITDA margin in Q1 FY27 was 6.0%, compared to 6.1% in the same quarter last year.
Manufacturing & Products
The Manufacturing & Products segment reported order inflows of ₹5,535 crore during the quarter, achieving a 74% year-on-year increase. This growth was driven by various refinery equipment order packages in the Heavy Engineering division.
Export orders represented 59% of the segment’s total order inflow during the quarter. The segment’s order book was ₹42,476 crore as of June 30, 2026, with export orders making up 19% of this total.
Customer revenues rose by 9% year-on-year to ₹4,486 crore, boosted by enhanced execution across Precision Engineering & Systems, Construction Equipment & Mining Machinery, and Rubber Processing Machinery businesses.
International revenues contributed 16% to total customer revenue. The segment’s EBITDA margin was 15.2%, compared with 17.5% in the corresponding quarter last year, influenced by changes in the sales mix within the portfolio.
Technology, Platforms & Services
The Technology, Platforms & Services segment recorded customer revenues of ₹14,627 crore for the quarter, showcasing a 15% year-on-year increase, powered by ongoing engagements in the information technology and technology services (IT&TS) sectors.
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International billing contributed 92% of the segment’s total customer revenues during the quarter. The segment delivered an EBITDA margin of 19.2%, a slight decline from 19.5% in the prior year quarter. This minor drop was attributed to rising manpower costs and foreign exchange fluctuations affecting hedged portfolio positions.
Financial Services Segment
Larsen & Toubro’s Financial Services division reported operational income of ₹5,042 crore for the quarter ending June 30, 2026, marking a 27% year-on-year growth, driven by targeted and higher disbursements in the retail sector.
The segment’s total loan book was ₹1,29,634 crore as of June 30, 2026, showing a 6% growth from ₹1,21,728 crore as of March 2026. Retail loans comprised 98% of the total loan book.
The segment recorded profit before tax (PBT) of ₹1,236 crore this quarter, compared to ₹943 crore in the same period last year. The increase in profitability was aided by loan book growth, robust asset quality, and solid operating performance.
Realty Segment
L&T’s Realty segment posted order inflows of ₹1,299 crore for the quarter ending June 30, 2026, reflecting a 32% year-on-year increase fueled by higher bookings from new launches. The segment’s order book was ₹17,330 crore as of June 30, 2026.
Customer revenues reached ₹1,009 crore for the quarter, showing over 100% growth year-on-year, driven by increased handovers of residential apartments. The segment’s EBITDA margin was 36.9% during the quarter, down from 48.8% in the previous year, due to shifts in sales composition.
Development Projects Segment
The Development Projects segment encompasses operations of Nabha Power Limited up to its divestment date on June 25, 2026, Hyderabad Metro until April 30, 2026, as per the Share Purchase Agreement with Hyderabad Metro Rail Limited (HMRL), and the Green Energy business.
For the quarter ending June 30, 2026, the segment reported customer revenues of ₹1,074 crore and earnings before interest and tax (EBIT) of ₹124 crore.
S N Subrahmanyan, Chairman and Managing Director, remarked, “The new financial year begins amid geopolitical uncertainties. The company has consistently maintained momentum by diversifying its focus across sectors and regions while sustaining strong cash flows. The quarterly performance reflects the resilience of our portfolio.
We successfully concluded the sale of Nabha Power Limited, in line with our strategy to exit the concessions portfolio. Additionally, we have completed the share purchase agreement with Hyderabad Metro Rail Limited (HMRL), a Government of Telangana Enterprise, for the divestment of our entire stake in the Hyderabad Metro SPV.”
Shares of Larsen and Toubro Ltd closed at ₹3,832.75, up by ₹28.45, or 0.75%, on the BSE.
