Larsen & Toubro announced that its heavy engineering arm has securedadditional orders worth Rs 1,050 crore in Q2 FY19 against stiff global competition. These include three Super Heavy Hydrocracking Reactors for an Indian Refinery, with heaviest among them weighing 2,180 MT, to be built for the first time in the World.

The total order inflow in H1 FY19 for the Process Plant and Nuclear equipment business of Heavy Engineering has reached Rs 2,661 crore, a significant achievement after a prolonged subdued market scenario.

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The Power Transmission & Distribution Business of L&T Constructionhas received EPC orders worth Rs 1,881 crore.

The business has secured major orders for constructing 22 132/11kV Substations in the State of Kuwait. Thanks to such substation networks, the large housing projects being developed by the Public Authority for Housing Welfare (PAHW) at South Al Mutala and South Abdullah Al-Mubarak cities will receive reliable power supply. The Ministry of Electricity it Water is the consultant for the project.

On the domestic front, orders were secured for implementation of a High Voltage Distribution System in the semi-urban and rural areas of Kharagpur and Midnapur in West Bengal.

Additional orders have been received from ongoing Transmission Line projects in India and Egypt.

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L&T Hydrocarbon Engineering, a subsidiary of Larsen & Toubro, in consortium with Baker Hughes, a GE company and McDermott International, Inc. has been awarded the subsea contract for India's OilEt Natural Gas Corporation's (ONGC) largest deepwater oil & gas project, the development of block DWN-98/2 in the Krishna Godavari basin.

The integrated subsea package includes the supply of all subsea production systems (SPS), including 34 deepwater trees, and the installation of subsea umbilicals, risers and flowlines (SURF) at a water depth of between 984 feet (300 meters) and 10,500 feet (3,200 meters).

LTHE's scope of work encompasses fabrication engineering, procurement and coating of around 500 kms linepipes, stalk fabrication of around 300 kms linepipes and fabrication, testing a loadout of around 185 subsea structures including 6 subsea manifolds and onshore pipeline installation. The project will further position LTHE's Kattupalli facility as a preferred fabrication base for future deepwater and ultradeep water projects on East Coast and around.

LTHE will leverage on its state of the art fabrication facility at Kattupalli, Chennai on the East Coast of India to fabricate the subsea production manifolds and SURF structures besides undertaking stalk fabrication of linepipes on the spool base. By reducing the number of interfaces across the project, the consortium aims to reduce complexity, drive speed and increase execution efficiency for ONGC.

The project is one of the first major deepwater developments in India and a milestone for realizing India's domestic energy potential. The group will offer a comprehensive solution that will also boost local manufacturing, in support of Make in India. Built on an agreement signed in 2016, LTHE and BHGE will fabricate manifolds for the first time in India as part of this project.

The subsea award represents the largest single subsea contract awarded by ONGC. Delivery is scheduled for 2020 for the gas system and 2021 for the oil system.

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The announcement was made during market hours today, 4 October 2018.

Meanwhile, the S&P BSE Sensex was down 614.87 points, or 1.71% to 35,360.76

On the BSE, 1.68 lakh shares were traded in the counter so far compared with average daily volumes of 3.27 lakh shares in the past two weeks. The stock had hit a high of Rs 1,293.45 and a low of Rs 1,252.45 so far during the day. The stock hit a 52-week high of Rs 1,469.60 on 1 February 2018. The stock hit a 52-week low of Rs 1,124.50 on 23 October 2017.

L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, in consortium with Baker Hughes, a GE company and McDermott International, Inc. has been awarded the subsea contract for India's Oil & Natural Gas Corporation's (ONGC) largest deepwater oil & gas project, the development of block DWN-98/2 in the Krishna Godavari basin.

LTHE's scope of work encompasses fabrication engineering, procurement and coating of around 500 kms linepipes, stalk fabrication of around 300 kms linepipes and fabrication, testing a loadout of around 185 subsea structures including 6 subsea manifolds and onshore pipeline installation. The subsea award represents the largest single subsea contract awarded by ONGC. Delivery is scheduled for 2020 for the gas system and 2021 for the oil system.

On a consolidated basis, net profit of L&T rose 43.15% to Rs 1472 crore on 18.78% rise in net sales to Rs 28283.45 crore in Q1 June 2018 over Q1 June 2017.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

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