L&T's Construction Arm Bags Order to Build Cricket Stadium in Varanasi

L&T's Construction Arm to Build Cricket Stadium in Varanasi
L&T's Construction Arm Bags Order to Build Cricket Stadium in Varanasi

by Tanushree Jaiswal Last Updated: Aug 14, 2023 - 05:31 pm 2.7k Views

Larsen & Toubro's construction division has achieved remarkable milestones with two significant contracts, reflecting their commitment to excellence and global growth.

Cricket Stadium Marvel

L&T has won a prestigious contract from the Uttar Pradesh Cricket Association to construct a modern cricket stadium in Varanasi. The stadium will accommodate an impressive 30,000 spectators and The project involves building the main cricket ground according to International Cricket Council (ICC) standards. This includes setting up a big scoreboard, powerful floodlights, special corporate boxes, VIP lounges, office spaces, modern broadcasting facilities, areas for press conferences, a kitchen, and large dining spaces. A practice ground will also be included. The entire area being developed is 30.67 acres. While the exact project cost hasn't been shared, it falls within the range of 'significant' orders, which typically range from ₹1,000 crore to ₹2,500 crore.

Futuristic IT Parks

L&T is also making waves on the international stage with a contract from the Bangladesh Hi-Tech Park Authority. Their task involves constructing advanced IT parks at four different spots in Bangladesh. The funding for this ambitious project comes from the Export-Import Bank (EXIM Bank). 

The buildings, featuring seven stories each, will be erected in Cox’s Bazar, Chattogram, Cumilla, and Sylhet districts. L&T's responsibilities extend beyond construction – they will also set up crucial systems like cooling and ventilation, elevators, fire safety measures, plumbing, networking, security, and building management systems.

These ventures underline L&T's dedication to excellence, innovation, and global collaboration. The cricket stadium and IT parks are set to become landmarks, showcasing L&T's ability to bring dreams to life through construction.

Previous Order

Previously Larsen and Toubro (L&T) had won the bid for the construction and system procurement of the Hyderabad Airport Metro project, which aims to connect Mindspace Junction to Rajiv Gandhi International Airport (RGIA) at Shamshabad. This will make travel much faster for people.

In May 2023, the Hyderabad Airport Metro Limited (HAML) invited companies to bid for the project. After reviewing the bids, L&T and NCC were the only ones left competing, and L&T's bid was chosen.

The project is being funded by the state government. It involves building various things like bridges, underground structures, stations, tracks, and electrical and mechanical systems. The metro line will be 31 kilometers long in total, with most of it running above the ground (29.3 km) and a small section (1.7 km) running underground. There will be nine stations, including one underground near the airport terminal. They are also thinking about adding four more stations.

The decision on the contract was made by a group of experts, and their recommendation will now go to the Telangana state government. 

In response to the news, the stock price of L&T was trading at ₹2659.20, reflecting a 0.78% increase from Friday's closing. The share price of L&T has yielded a positive return of 27% year-to-date.

L&T Q1 Results: 

Larsen and Toubro (L&T), a prominent engineering and construction major, announced a consolidated net profit of ₹2,493 crore for the quarter ended June 2023. This reflects a substantial increase of 46.5% compared to the profit of ₹1,702.07 crore recorded in the same quarter of the previous year.

The company's revenue from operations during the quarter amounted to ₹47,882 crore, indicating a notable growth rate of 33.6% from the figure of ₹35,853 crore reported in the corresponding period a year ago. 

During the mentioned quarter, L&T's international revenues constituted 40% of the total. The company also revealed that its order inflow for the quarter ending June 30, 2023, reached ₹65,520 crore, marking a substantial growth of 57% when compared to the corresponding quarter of the previous year. Notably, international orders accounted for ₹27,646 crore, which comprised 42%t of the total order inflow.

As of June 30, 2023, the consolidated order book of the L&T Group stood at ₹412,648 crore. Notably, international orders contributed to 29% of the total order book. It's important to emphasize that these financial statistics demonstrate the company's strong performance and its increasing presence in the international market.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Dixon Partners with Xiaomi for Smartphone Manufacturing in India

Dixon Technologies India Limited recently announced a development in the smartphone manufacturing industry on Wednesday, September 27, and the company revealed that its wholly owned subsidiary, Padget Electronics Private Limited, has entered into a partnership agreement with Xiaomi Technolog

  • Sep 28, 2023
What you must know about Valiant Laboratories IPO?

Valiant Laboratories Ltd was incorporated in the year 1980, and it is a major pharmaceutical ingredient manufacturing company in India; with their primary focus on Paracetamol. The company has a production unit in Palghar near Mumbai, which is spread across 2,000 SQM.

  • Sep 28, 2023
Valiant Laboratories IPO GMP (Grey market premium)

Valiant Laboratories Ltd has a face value of ₹10 per share while the price band for the book building IPO has been set in the band of ₹133 to ₹140. The IPO of Valiant Laboratories Ltd is entirely a fresh issue with no offer for sale (OFS).

  • Sep 28, 2023