Shares of Larsen and Toubro (L&T) were trading in the green 2% higher on 11 August after the company announced that it secured an “ultra-mega” contract from Adani Power Ltd. to build eight thermal power units of 800 MW each, adding up to 6,400 MW of new generation capacity.

L&T categorises contracts worth over Rs 15,000 crore as “ultra-mega.”

Its advanced power and low-carbon technology arm, L&T Energy – CarbonLite Solutions (LTECLS), will execute the project. The work scope covers the design, engineering, manufacturing, supply, and commissioning of boiler-turbine-generator (BTG) packages, along with auxiliaries and associated mechanical, electrical, and control & instrumentation (C&I) systems.

In the June quarter, L&T posted a 29.9% year-on-year rise in net profit to Rs 3,617 crore, up from Rs 2,786 crore last year. Revenue grew 15.5% to Rs 63,678 crore from Rs 55,119 crore, while EBITDA rose 12.5% to Rs 6,316 crore from Rs 5,615 crore. However, the EBITDA margin narrowed to 9.9% from 10.2% a year earlier.

At 3:30 pm, the shares of Larsen and Toubro closed 1.79% higher at Rs 3,672 on NSE.

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