Shares of Larsen & Toubro (L&T) were trading in the green and 1.5% higher on 9 September after the company announced that its Energy Hydrocarbon Offshore business had secured a large order from state-run Oil and Natural Gas Corporation (ONGC). 

The contract is classified as a Rs 2,500 crore to Rs 5,000 crore order under L&T’s internal classification. The order has been awarded for the Additional Development of Ratna-I (ADR-I) and NLM-14 projects off India’s west coast. L&T Energy Hydrocarbon Offshore will handle engineering, procurement, construction, installation and commissioning work for the projects.

The contract includes the construction of three new well-head platforms and one riser platform. It also covers multiple sections of subsea pipelines and cables, along with modifications to existing offshore facilities. The projects are aimed at supporting higher production from ONGC’s established offshore assets.

The latest win adds to L&T’s strong order pipeline. The company secured Rs 1.08 lakh crore of order inflows in Q1 FY27, up 14% year-on-year, while its consolidated order book stood at around Rs 7.79 lakh crore as of 30 June 2026. International orders accounted for about 52% of the overall backlog.

L&T had also maintained its FY27 outlook after its June quarter results. The company expects 10% to 12% growth in revenue and order book, while keeping its FY27 margin outlook broadly stable at around 8.3%. The strong order pipeline and continued spending by companies such as ONGC provide support to this growth outlook.

The ONGC order also strengthens L&T’s position in India’s offshore oil and gas infrastructure market. The company’s Energy Hydrocarbon Offshore business has more than four decades of experience in offshore platforms, subsea pipelines, brownfield upgrades and related projects.

At around 1:53 PM on 9 September, L&T shares were trading at about Rs 3,968.20, up 0.56% on the NSE.

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