Latest news with #BhavaliPumpedStorageProject
Business Standard
2 hours ago
- Business
- Business Standard
Larsen & Toubro wins significant order from JSW Energy
The Heavy Civil Infrastructure (HCI) business vertical of Larsen & Toubro has secured a significant order from JSW Energy for the execution of Bhavali Pumped Storage Project (PSP) in the state of Maharashtra. The project is strategically located across the Nashik and Thane districts of Maharashtra and is designed to have a total installed capacity of 1500 MW, Comprising various small units. According to the company's project classification, the value of the order ranges between Rs 1,000 crore to Rs 2,500 crore. The scope of work encompasses complete execution of all civil works related to the project, including construction of approach roads, upper and lower reservoirs, water conductor system, pressure tunnels, and the underground powerhouse unit. The order reaffirms L&T's proven capabilities in delivering complex hydroelectric infrastructure and reinforces its position as a key enabler in India's quest for renewable energy. Pumped storage projects like the Bhavali PSP are pivotal to grid stability, particularly in the context of growing integration of variable renewable energy sources.
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Business Standard
5 hours ago
- Business
- Business Standard
L&T shares rise after bagging ₹1,000-₹2,500 crore order from JSW Energy
Shares of Indian construction major Larsen & Toubro rose 1.5 per cent after the company secured an order worth ₹1,000 - ₹2,500 crore from JSW Energy. L&T's stock rose as much as 1.44 per cent during the day to ₹3,708.9 per share, the biggest intraday gain since May 26 this year. The stock pared gains to trade 0.7 per cent higher at ₹3,682 apiece, compared to a 0.42 per cent advance in Nifty 50 as of 12:00 PM. Shares of the company have risen for the third straight day and have advanced nearly 5 per cent from their recent lows of ₹3,551, which it hit last month. The counter has risen 2.2 per cent this year, compared to a 6.25 per cent advance in the benchmark Nifty 50. L&T has a total market capitalisation of ₹5.06 trillion, according to BSE data. Track LIVE Stock Market Updates Here L&T bags up to ₹2,500 crore The company's Heavy Civil Infrastructure (HCI) business vertical has secured an order from JSW Energy to execute the Bhavali Pumped Storage Project (PSP) in Maharashtra. The order, classified as 'significant' by L&T, is valued between ₹1,000 crore and ₹2,500 crore. The Bhavali PSP will be located across the Nashik and Thane districts and will have a total installed capacity of 1,500 MW. It is designed to house multiple smaller generating units to support large-scale grid stabilisation. L&T's contract includes the complete execution of civil works, including the construction of approach roads, upper and lower reservoirs, a water conductor system, pressure tunnels, and an underground powerhouse. Earlier this month, Larsen & Toubro bagged an order worth ₹1,000-2,500 crore from the Rajasthan government to build and install pipelines along with reservoirs in some towns and villages in the state. L&T Q4 results The company posted a 25 per cent rise in consolidated net profit, reaching ₹5,497 crore for the March quarter of the financial year 2024-25 (FY25) compared to the same period last year. Revenue grew by 11 per cent to ₹74,392 crore, while Ebitda rose 13.4 per cent year-on-year to ₹8,202 crore. The company's operating margin edged up to 11 per cent, from 10.8 per cent in the previous financial year. The board has recommended a final dividend of ₹34 per equity share.
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Business Standard
5 hours ago
- Business
- Business Standard
L&T bags up to ₹2,500 crore order from JSW Energy for heavy civil unit
Larsen & Toubro 's Heavy Civil Infrastructure (HCI) business vertical has secured an order from JSW Energy to execute the Bhavali Pumped Storage Project (PSP) in Maharashtra. The order, classified as 'significant' by L&T, is valued between ₹1,000 crore and ₹2,500 crore, according to the company's regulatory filing. The Bhavali PSP will be located across the Nashik and Thane districts and will have a total installed capacity of 1,500 MW. It is designed to house multiple smaller generating units to support large-scale grid stabilisation. Scope includes tunnels, reservoirs, and powerhouse L&T's contract includes the complete execution of civil works, including the construction of approach roads, upper and lower reservoirs, a water conductor system, pressure tunnels, and an underground powerhouse. In its filing, L&T said, 'The order reaffirms L&T's proven capabilities in delivering complex hydroelectric infrastructure and reinforces its position as a key enabler in India's quest for renewable energy. Pumped storage projects like the Bhavali PSP are pivotal to grid stability, particularly in the context of growing integration of variable renewable energy sources.' L&T launches first ESG-linked bonds under Sebi framework Last week, L&T raised ₹500 crore through its first ESG-linked bond offering, becoming the first listed company to issue sustainability-linked securities under the Securities and Exchange Board of India's (Sebi) newly introduced framework. Arranged exclusively by HSBC, the transaction was finalised a day after Sebi unveiled its regulatory framework to promote transparency and measurable ESG goals. The new rules mandate external assessments and specific environmental or social targets for issuers. In its ESG-linked issuance, L&T has committed to reducing freshwater consumption intensity and greenhouse gas emissions. The company has also set long-term goals of achieving water neutrality by 2035 and carbon neutrality by 2040. These developments highlight L&T's growing presence in both green infrastructure development and sustainable finance.
Time of India
6 hours ago
- Business
- Time of India
L&T bags order from JSW Energy for heavy civil infra business
Larsen & Toubro's Heavy Civil Infrastructure (HCI) business vertical on Monday announced that it has secured an order from JSW Energy for the execution of the Bhavali Pumped Storage Project (PSP) in Maharashtra. According to the company's project classification, the contract amount ranges between ₹1,000 to ₹2,500 crore. The Bhavali PSP will have a total installed capacity of 1500 MW, composed of various smaller units. The extensive scope of work encompasses the complete execution of all civil works. This includes the construction of crucial elements such as approach roads, the upper and lower reservoirs, the water conductor system, pressure tunnels, and the underground powerhouse unit. Pumped storage projects like the Bhavali PSP are pivotal to grid stability, particularly in the context of growing integration of variable renewable energy sources. Located strategically across the Nashik and Thane districts of Maharashtra, the Bhavali PSP is poised to play a pivotal role in India's energy landscape.
Business Upturn
8 hours ago
- Business
- Business Upturn
L&T secures order worth up to Rs 2,500 crore from JSW Energy for Bhavali Pumped Storage Project in Maharashtra
Larsen & Toubro (L&T) announced on June 9 that its Heavy Civil Infrastructure business has secured a significant order from JSW Energy for the execution of the 1500 MW Bhavali Pumped Storage Project in Maharashtra. This large-scale hydroelectric project is located across the Nashik and Thane districts and is part of India's strategy to enhance […] Larsen & Toubro (L&T) announced on June 9 that its Heavy Civil Infrastructure business has secured a significant order from JSW Energy for the execution of the 1500 MW Bhavali Pumped Storage Project in Maharashtra. This large-scale hydroelectric project is located across the Nashik and Thane districts and is part of India's strategy to enhance grid stability through renewable energy integration. According to the company's official statement, the scope of work includes all civil engineering tasks related to the project. These encompass the construction of access roads, upper and lower reservoirs, the water conductor system, pressure tunnels, and the underground powerhouse. The contract's classification as 'Significant' implies a project value in the range of ₹1,000 to ₹2,500 crore. L&T emphasized that this win strengthens its position as a key player in complex hydroelectric infrastructure projects and supports India's broader push towards renewable energy capacity expansion. Pumped storage projects like Bhavali PSP are becoming increasingly important in stabilizing the grid amidst the growing share of intermittent renewable sources such as solar and wind energy. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
