Larsen and Toubro (L&T)

The passage of the SHANTI (Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India) Act is expected to accelerate investment in Small Modular Reactors (SMRs), an area where L&T has decades of manufacturing expertise.

L&T secured record order inflows of Rs. 4,35,590 crore (US$ 49.29 billion), driven by strong demand across infrastructure, energy, hydrocarbon, transportation and buildings.

On December 29, 2025, L&T won a significant order for the Hyderabad Greenfield Radial Road, with scope covering a 22.3 km access-controlled road, a 3.6 km viaduct, bridges, underpasses, culverts, service roads, drainage, footpaths, cycle tracks and landscaping. This is relevant if you are keeping infrastructure execution under the capital goods umbrella, though it is more construction-focused than pure capital goods.

On December 24, 2025, L&T’s Transportation Infrastructure business won a significant order for Mumbai Metro Line 4, covering the design, manufacture, supply, installation, integration, testing and commissioning of power supply and traction systems, along with SCADA, electrical and mechanical works, lifts, escalators and maintenance. This is useful for your engineering/EPC and infrastructure-linked capital goods content.

On November 3, 2025, L&T’s Heavy Engineering business signed an MoU with Holtec International’s Asia arm to jointly design and build heat transfer equipment for nuclear and thermal power plants. This is the strongest fit for your engineering/capital goods section because it directly reflects heavy engineering capability and nuclear equipment manufacturing.

As of October 9, 2025, Larsen & Toubro Ltd’s Hydrocarbon Onshore business (L&T Energy Hydrocarbon Onshore) secured an ‘ultra-mega’ contract worth more than Rs. 15,000 crore (US$ 1.71 billion) in a consortium with Greece’s Consolidated Contractors Group S.A.L. (Offshore) (CCC) to engineer, procure, construct, install and commission a Natural Gas Liquids (NGL) plant and allied facilities in the Middle East, processing rich associated gas into value-added products and reinforcing L&T’s global energy infrastructure credentials.

On August 13, 2025 L&T Energy GreenTech signed a joint development agreement with Japan’s ITOCHU Corporation to develop and commercialise a 300 KTPA green ammonia project at Kandla in Gujarat, with ITOCHU planning to offtake the product for bunkering in Singapore.

On August 4, 2025 L&T’s Renewables business secured a significant EPC order to develop a 116 MWac solar PV plant with a 241 MWh battery energy storage system at Lakhisarai in Bihar, making it the largest co-located renewable energy storage site awarded by a state utility in India.

On August 1, 2025 L&T’s Minerals & Metals business secured a large EPC order from Hindustan Zinc Limited to set up a 250 KTPA Leaching, Purification and Cellhouse facility along with a 125 KTPA Jarosite Circuit at the Debari Smelter Complex in Rajasthan.

On July 21, 2025 L&T Energy GreenTech, a wholly owned subsidiary of Larsen & Toubro, announced plans to set up India’s largest green hydrogen plant at IOCL’s Panipat Refinery in Haryana to supply 10,000 tonnes annually for 25 years under a build-own-operate model.

On June 23, 2025 Larsen & Toubro listed India’s first ESG bonds worth Rs. 500 crore (US$ 58.5 million) on NSE, raising funds through three-year NCDs at a 6.35% coupon rate under SEBI’s new ESG and sustainability-linked bond framework with HSBC as sole lead arranger.

On June 10, 2025 L&T’s Power Transmission & Distribution business won major orders in India to build 765 kV and 400 kV transmission lines for renewable energy integration in Andhra Pradesh and in the Middle East to execute 220 kV and 132 kV gas insulated substations on a turnkey basis.

On June 9, 2025 L&T’s Heavy Civil Infrastructure business secured a major order from JSW Energy to execute the 1,500 MW Bhavali Pumped Storage Project in Maharashtra, covering full civil works including reservoirs, tunnels, and an underground powerhouse to support renewable energy integration.

On June 6, 2025 L&T announced a Rs. 500 crore (US$ 58.5 million) ESG bond issuance in partnership with HSBC, becoming the first Indian corporate to launch a listed ESG bond under SEBI’s newly introduced framework.

On June 3, 2025 L&T’s Water & Effluent Treatment business secured EPC orders from Rajasthan PHED for the Rural Water Supply and Fluorosis Mitigation Project Phase II to serve 285 villages and the towns of Surajgarh and Udaipurwati in Jhunjhunu district.

In February 2025, The Minerals & Metals (M&M) business vertical of L&T announced, that it will set up a Pellet Plant and a Direct Reduction of Iron (DRI) Plant for a client in the Middle East & North Africa (MENA) region.

In January 2025, L&T’s Minerals & Metals (M&M) vertical has secured a significant order for setting up freight handling facilities in the Gulf Cooperation Council (GCC) region. This is a repeat order from a leading railway company in the GCC

In January 2025, Larsen & Toubro (L&T) has received a significant* order to build Uzbekistan's first AI-enabled and sustainable 10-Megawatt data centre in Tashkent.

On January 2025, L&T announced that it’s renewables business vertical has been selected by Masdar, as one of the preferred Engineering, Procurement and Construction (EPC) contractors for the north site of the world's first 24/7 solar PV and battery storage gigascale project which will be built in Abu Dhabi.

L&T's Heavy Engineering arm secured multiple orders in Q3 FY25, including a major LNG equipment order for a U.S. project. This reinforces L&T’s global leadership in heavy engineering with advanced manufacturing expertise.

In January 2205, L&T's Power Transmission & Distribution (PT&D) vertical has secured new orders in India and the Middle East. It will implement an Advanced Distribution Management System in West Bengal to enhance power reliability through real-time monitoring and faster fault restoration.

In December 2024, The Ministry of Defence, Government of India, has awarded a major contract to Larsen & Toubro (L&T) for the supply of K9 Vajra-T Artillery Platforms to the Indian Army.

L&T has completed acquisition of 15% stake in E2E Networks Limited via preferential allotment on December 4, 2024. The secondary acquisition of 6% from the promoter of E2E Networks Limited is expected to be completed on or before May 30, 2025.

L&T to acquire 21% stake in E2E Networks a cloud service company for Rs. 1,407 crore (US$ 169.07 million). The move assumes significance as it will increase L&T's reach in cloud and AI services -- the key growth areas in the technology sector.

In May 2024, L&T Valves, a prominent global provider of flow-control solutions, has established a new manufacturing facility, L&T Valves Arabia Manufacturing LLC, in Saudi Arabia.

In March 2024, Larsen & Toubro (L&T) has achieved a significant milestone in the clean energy space by commissioning its first indigenously manufactured electrolyser at the Green Hydrogen Plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat. Featuring a rated power capacity of 1 MW (expandable to 2 MW), this electrolyser can produce 200 Nm3/Hr of hydrogen.

In January 2024, L&T Construction won a Mega EPC Order for establishing Largest Renewable Generation Plant for establishing an 1800 MWac Solar Photovoltaic Plant in Dubai, United Arab Emirates.

In January 2024, The Railway Strategic Business Group of L&T Construction secured a Mega Contract from an authorised Japanese agency to construct 508 Route Km of High-Speed Electrification System Works for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, popularly referred to as the Bullet Train Project.

As announced in December 2023, L&T Heavy Engineering (L&T HE) has been recognized as the Star Performer in large enterprises for the ‘Special Purpose Machinery’ category in 2019-20 and for the ‘General Purpose Machinery’ category in 2020-21 at the 52^nd and 53rd editions respectively of the Engineering Export Promotion Council (EEPC) National Export Awards. 

In October 2023, the digital Energy Solutions arm of L&T Construction’s Power Transmission & Distribution business signed a Memorandum of Understanding with IIT Indore to explore and work on activities through the framework set-up across various avenues of engagement. 

Larsen & Toubro (L&T) has been associated with India’s Space Program for over five decades. L&T is playing a critical role in the launch of LVM3 M4 Chandrayaan Mission. In a hallmark achievement, L&T has been involved in this mission starting from the manufacturing of subsystems till mission tracking.

Larsen & Toubro and Navantia, Spain signed a Teaming Agreement (TA) in July 2023, for the purpose of submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

Larsen & Toubro successfully completed the transition of a US$ 150 million term loan with Bank of America to a Sustainability Linked Loan (“SLL”), on June 30, 2023.

In May 2023, the Buildings & Factories (B&F) Business of Larsen & Toubro (L&T) Construction has recently secured EPC orders in India from a reputed developer to construct residential towers in Thane, Mumbai.

The President of India, Ms. Droupadi Murmu, on May 4, 2023, laid the foundation stone for L&T Skill Training Hub at Pahadpur in Odisha’s Mayurbhanj district. L&T partnered with SLS Trust to establish the Skill Training Hub on five acres of land for providing underprivileged youth from the region training in construction skills, and in turn, making them self-reliant.

In February 2023, L&T Heavy Engineering (HE) became the first entity in India to be certified as per ISO 19443:2018. This nuclear sector-specific quality management system (QMS), published in 2018, is specifically designed to improve quality and safety across the nuclear supply chain.

In January 2023, L&T Technology Services Limited announced to acquire the Smart World & Communication (SWC) Business of L&T, to combine synergies and take offerings in Next-Gen Communications, Sustainable Spaces and Cybersecurity to the global market.

In November 2022, L&T Infotech and Mindtree merged to make India's 5th-largest IT company, LTIMindtree, that will help businesses proactively take on and shape the future by harnessing the full power of digital technologies.

In November 2022, one of the top renewable energy businesses in the world, the prestigious Greenko group, has given a contract to Larsen & Toubro's Heavy Civil Infrastructure Business for the construction of an off stream pumped storage project in Madhya Pradesh.

In February 2022, Larsen & Toubro’s hydrocarbon business bagged two 'significant' offshore projects from an overseas client.

In February 2022, Larsen & Toubro’s construction arm secured a 'significant' order to construct hi-tech IT parks at eight locations across Bangladesh, funded by the Indian EXIM Bank.

In September 2021, Larsen & Toubro (L&T) announced that it will participate in the Expo 2020, Dubai to be held from October 5, 2021, to March 31, 2021, as part of the Indian pavilion. L&T plans to demonstrate its capabilities in hydrocarbon engineering, and businesses such as water-effluent treatment, power transmission and distribution.

Signed an agreement to acquire Cuelogic Technologies, a digital engineering and outsourced product development company, headquartered in Pune, India.

Partnered with Amazon Web Services (AWS) to launch a dedicated cloud unit for AWS, which will focus on migration and modernisation, SAP application workloads, data analytics, and the Internet of things (IoT).

Entered into a share purchase agreement to purchase 6.35% stake in help Lightning Inc., a Delaware Corporation.

L&T won multiple orders for the business of construction and mining equipment.

L&T Construction secured a major contract to build India's longest road bridge connecting Dhubri in Assam to Phulbari in Meghalaya via the Brahmaputra River.

L&T Construction secured a mega contract to build India’s first high-speed rail corridor.

L&T Construction received significant category orders for its metallurgical and material handling business from Northern Coalfields Ltd.

Bagged contract for Dadri - Khurja and Sahnewal - Khurja sections of the Eastern Dedicated Freight Corridor (EDFC)

Signed a memorandum of understanding (MoU) with ideaForge to offer drones and allied systems for defence use

L&T bagged 50 MW solar project in Tamil Nadu

Acquired equity shares to an extent 60% of the total shareholding of Mindtree

Order booked of Rs. 281,000 crore (US$ 40.07 billion) as of end of September 2018

Received 'Best Capital Projects & Infrastructure Risk Management Award' at the India Risk Management Awards event organised by CNBC TV18

Company set an aim to achieve Rs. 2 trillion (US$ 30 billion) in revenue by 2021

Successfully flagged off India's first Nuclear 700 MWe Steam Generator for Kakrapar nuclear power plant

The group's financial arm L&T Finance Holdings entered into the housing finance business by acquiring Indo Pacific Housing Finance Ltd

Signed an MoU with Rolls-Royce Corporation for cooperation to effectively address the projected need for light water reactors

Tied up with Japan's Toshiba Corporation and Mitsubishi Heavy Industries for setting up manufacturing facilities for super-critical turbines and boilers

Approved divestment of stake in L&T-John Deere Pvt Ltd

Transferred their cement business to Ultra Tech Cement Ltd

Formed a Joint Venture (JV) with Deere Pvt Ltd to manufacture agricultural tractors

Started a cement plant with 1 MTPA capacity in Maharashtra

Acquired two bulk shipping carriers from Japan

Became a public company

Incorporated as a private limited company

Found as a partnership firm