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    500510   INE018A01030

LARSEN & TOUBRO LIMITED

(500510)
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L&T Tops Coveted Mauritian Construction Rankings

11/11/2021 | 09:11am EST

Dislodging other competitors, Larsen & Toubro has won the No 1 spot in the construction sector in the annual Top 100 Companies rankings by noted Mauritian media house, the La Sentinelle Group, in collaboration with DCDM Research.

L&T has achieved this honour for the construction of 26-km Mauritius Metro Express project connecting Port Louis and Curepipe with 19 stations in between. The near15 km stretch of this metro - from Port Louis to Quatre Bornes - has already been commissioned and is in successful commercial use, with more than 5 million passenger rides milestone already achieved.

Other companies in the fray included United Basalts Products Ltd (UBP) and another 53 construction companies of African origin. There, L&T generated a combined turnover of Mauritian Rs 42 billion and reaped Mauritian Rs 2.3 billion in profits as of March 2020.

For over 30 years, Top 100 Companies rankings have been reflecting Mauritius' businesses and have influential readership that brings together CEOs, senior executives and investors, besides overseas subscribers who follow the island nation closely.

Phase-1 of the Mauritius Metro Express - from Port Louis to Rose Hill - was inaugurated in October 2019 by Mr Narendra Modi and Mr Pravind Jugnauth, the Prime Ministers of India and Mauritius, respectively. Phase-2A - Rose Hill to Quatre Bornes - was commissioned in March this year. Phase-2B - Quatre Bornes to Curepipe - is scheduled to be operational by December 2022.

L&T has also been awarded the contract for the extension of the Metro Express - Rose Hill to Reduit via Ebene Cybercity. It is likely to be commissioned by end-2022.

Contact:

Larsen & Toubro Limited

CIN - L99999MH1946PLC004768

L&T House, N.M. Marg

Ballard Estate

Mumbai

Maharashtra - 400 001

Tel: +91 22 67525656

Fax: +91 22 67525893

Email: igrc@larsentoubro.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on LARSEN & TOUBRO LIMITED
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Financials
Sales 2022 1 567 B 20 958 M 20 958 M
Net income 2022 96 847 M 1 295 M 1 295 M
Net Debt 2022 1 088 B 14 558 M 14 558 M
P/E ratio 2022 28,0x
Yield 2022 1,19%
Capitalization 2 704 B 36 170 M 36 163 M
EV / Sales 2022 2,42x
EV / Sales 2023 2,12x
Nbr of Employees 40 253
Free-Float 84,3%
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Mean consensus BUY
Number of Analysts 34
Last Close Price 1 924,70 INR
Average target price 2 245,76 INR
Spread / Average Target 16,7%
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Managers and Directors
Sekharipuram Narayan Subrahmanyan Chief Executive Officer, MD & Executive Director
Ramamurthi Shankar Raman Chief Financial Officer & Executive Director
Anil Kumar Manibhai Naik Group Non-Executive Chairman
A. Sivaram Nair Secretary & Compliance Officer
Mukund Manohar Chitale Independent Non-Executive Director