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Prabhudas Lilladher Report
Larsen and Toubro Ltd. reported steady quarter led by ramp up in execution across all business verticals.
Margins were higher due to change in job mix, better operational efficiencies and several projects reaching margin threshold.
Despite pandemic, order inflows came in at around Rs 1.8 trillion owing picking up in awarding activity in H2 primarily from infra and hydrocarbon segments.
Order book stands strong at Rs 3.3 trillion (2.4 times trailing twelve months revenues) providing strong revenue visibility.
Tendering pipeline remains strong at Rs 9.6 trillion across domestic (Rs 6.6 trillion) and international (Rs 3 trillion).
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