#LarsenAndToubro #L&TResults #FinancialPerformance #EPCLeader #OrderInflow #RevenueGrowth #PATGrowth #InfrastructureIndia #EngineeringExcellence #GlobalExpansion
Mumbai: Engineering and construction major Larsen & Toubro (L&T) has reported robust financial results for the half-year ended September 30, 2025, continuing its strong growth momentum across businesses and geographies. The company delivered double-digit growth in order inflows, revenues, and profits, underscoring its leadership in the EPC and infrastructure domain.
L&T secured fresh orders worth ₹210,237 crore during the first half of FY2026, registering a significant 39 percent year-on-year increase. The growth was driven by multiple big-ticket order wins across public spaces, commercial buildings, metro projects, hydel and tunneling, transmission and distribution (T&D), renewables, non-ferrous metals, and both offshore and onshore verticals in the hydrocarbon sector. International orders, valued at ₹124,236 crore, accounted for 59 percent of the total inflow during the period, reflecting continued traction in the Middle East and other overseas markets.
On a quarterly basis, L&T booked orders worth ₹115,784 crore in the July-September 2025 quarter, marking a 45 percent year-on-year surge. The company witnessed strong momentum across a wide range of business segments, with international orders forming 65 percent of the total inflow at ₹75,561 crore.
The consolidated order book as of September 30, 2025, stood at a record ₹667,047 crore, representing a 15 percent growth over March 2025 levels. International orders contributed 49 percent of the total, signaling balanced geographic diversification.
During the half-year period, consolidated revenue reached ₹131,662 crore, reflecting a 13 percent year-on-year increase. International revenue was ₹71,217 crore, contributing 54 percent of the total. For the second quarter, consolidated revenue was ₹67,984 crore, up 10 percent from the same quarter last year, with international operations accounting for ₹38,223 crore or 56 percent of the revenue.
Profit After Tax (PAT) for the half-year came in at ₹7,543 crore, an increase of 22 percent over the previous year. For the September quarter, PAT rose 16 percent year-on-year to ₹3,926 crore. The improved profitability demonstrates the company’s higher execution efficiency, cost optimization, and operational resilience.
Speaking on the performance, S. N. Subrahmanyan, Chairman and Managing Director, said, “The Company has reported a well-rounded financial performance across all parameters. Our ability to secure large orders across segments and geographies is a true testament to our leadership position in the EPC space. Consistent execution across a diverse portfolio showcases our strength in navigating both local and global challenges. We are witnessing higher capital expenditure spends in both India and the Middle East and remain optimistic about order prospects.”
He further added that L&T has reached an in-principle agreement with the Government of Telangana for divestment of its stake in L&T Metro Rail (Hyderabad) Limited, in line with its Lakshya 2026 vision to exit the public concessions portfolio. Subrahmanyan also emphasized the company’s strategic objective of aligning its technology-led emerging businesses with its core strengths in engineering, construction, manufacturing, and project management. He noted that L&T’s IT and technology services portfolio continues to deliver robust results, while its subsidiary L&T Finance focuses on digital-first retail lending, driving strong turnaround performance.
Segment Highlights
Infrastructure Projects Segment:
During the quarter ended September 30, 2025, the infrastructure projects segment secured new orders worth ₹52,686 crore, reflecting a modest 6 percent year-on-year growth despite a high base effect. International orders made up 48 percent of the total, buoyed by large contracts in buildings and factories, heavy civil infrastructure, power T&D, and renewables. The order book for this segment stood at ₹394,706 crore, with international projects forming 43 percent.
Customer revenue in this segment for the quarter stood at ₹31,759 crore, showing a slight 1 percent year-on-year decline, primarily due to slower progress in water infrastructure projects and extended monsoon conditions affecting work schedules. International operations contributed 47 percent of the segment’s revenue during the quarter.
EBITDA margin improved to 6.3 percent from 6.0 percent last year, driven largely by better execution efficiencies and project management.
Outlook
Industry experts indicate that L&T’s performance aligns with India’s ongoing infrastructure expansion and global demand for energy transition projects. The company’s diversified business model, increasing international exposure, and steady inflow of large-scale infrastructure and technology orders position it well for sustained earnings growth.
L&T’s focus on digital transformation and emerging technologies also plays a pivotal role in complementing its traditional EPC businesses. With a strong balance sheet and improving profitability, analysts believe the company remains favorably placed to capitalize on upcoming infrastructure and industrial investment opportunities under India’s Viksit Bharat 2047 vision.
Hashtags
#LarsenAndToubro #L&TResults #FinancialPerformance #EPCLeader #OrderInflow #RevenueGrowth #PATGrowth #InfrastructureIndia #EngineeringExcellence #GlobalExpansion #HydrocarbonProjects #RenewableEnergy #ProjectManagement #Lakshya2026 #SNSubrahmanyan #InfrastructureGrowth #MakeInIndia #MiddleEastProjects #SmartEngineering #IndustrialDevelopment
