Shares of L&T touched a day high of Rs 3,786.50 on 30 September, about 1% above the previous close, on news of two Dubai road wins.

Larsen & Toubro Limited told the exchanges on 30 September that its Transportation Infrastructure arm has won two contracts from the Roads and Transport Authority of Dubai.

Both are for the Latifa Bint Hamdan Corridor. L&T did not give exact values.

By L&T’s own grading, one contract counts as ‘Significant’, worth Rs 1,000 crore to Rs 2,500 crore, and the other as ‘Large’, worth Rs 2,500 crore to Rs 5,000 crore.

Together, that puts the pair somewhere between Rs 3,500 crore and Rs 7,500 crore.

The first contract covers a new road linking Al Khail Road to the extension of Latifa Bint Hamdan Street, along with bridges and tunnels.

The second covers parts of Al Meydan Street. That means a new interchange, roads at ground level and a cycling track that joins the existing network.

Both are due by end-2028. Once complete, the wider corridor is expected to stretch about 12 km.

The company said it should serve more than 130,000 trips a day and cut travel time between Umm Al Sheif Street and Emirates Road from around 33 minutes to 15.

This follows a ‘Large’ order from ONGC on 9 September for offshore projects off India’s west coast.

In the June quarter, L&T reported consolidated revenue of Rs 67,942 crore, up 7% from a year earlier, and profit after tax of Rs 4,123 crore, up 14%.

On 30 September, L&T closed at Rs 3,760.00 on the NSE, up by 0.29% from the previous close of Rs 3,749.10.

About 23.95 lakh shares had changed hands. It’s down 9.19% so far this year and 4.32% over the past week.

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