This contract is categorized as a “significant” order, indicating its value falls between ₹1,000 crore and ₹2,500 crore.
Strategically situated between the Nashik and Thane districts of Maharashtra, the project is set to deliver a total installed capacity of 1,500 MW, featuring multiple smaller generating units.
The scope entails comprehensive execution of all civil works for the project, including the construction of approach roads, upper and lower reservoirs, water conductor systems, pressure tunnels, and an underground powerhouse.
Pumped storage projects like Bhavali PSP are vital for maintaining grid stability, particularly as the proportion of variable renewable energy in the power mix continues to increase, the company noted.
L&T has reported a 25% year-on-year (YoY) increase in consolidated net profit, reaching ₹5,497 crore for the March quarter, surpassing CNBC-TV18’s estimate of ₹5,024 crore.
The quarterly revenue reached ₹74,392 crore, an 11% rise from ₹67,078 crore a year earlier, though slightly below the CNBC-TV18 poll estimate of ₹77,745 crore.
EBITDA also saw a 13.4% YoY growth to ₹8,202 crore, although it fell short of the poll estimate of ₹8,363 crore. The operating margin improved marginally to 11%, compared to 10.8% in the same quarter last year and the poll forecast.
L&T projects a 15% increase in topline growth for FY26, supported by sustained activity in both domestic and international markets. The company anticipates core operating margins to rise to 8.5% from 8.3% in FY25, reflecting operational efficiency and a solid order backlog.
Order inflow is expected to increase by 10% in the upcoming fiscal year, with L&T identifying ₹7 lakh crore of opportunities domestically and ₹12 lakh crore internationally. The firm remains optimistic about maintaining demand momentum in international markets.
Shares of Larsen and Toubro Ltd. are currently trading 0.65% higher at ₹3,680, remaining steady on a year-to-date basis.
First Published: Jun 9, 2025 10:28 AM IST
