Shares of L&T Ltd hit a day high of Rs 3,687.70 on 19 October after the company began early work on Tashkent’s new airport project.

The trigger is a green light from the group building the airport in Uzbekistan.

L&T said its Public Spaces, Airports & Health business received a Limited Notice to Proceed, which lets it start groundwork before the full go-ahead arrives.

Think of it as permission to plan and prepare, not yet to pour concrete.

For now, the company will handle engineering, detailed design, planning and buying preparation.

Actual construction at the site begins only after a full Notice to Proceed, which is expected once agreed contract conditions are met.

L&T will build the passenger terminal and the roads and buildings around it, designed for about 17 million passengers a year.

The job also covers levelling the site, structural work, interiors, power, water and electrical services, and the airport’s technical systems.

It is an EPC order, where one firm designs, buys materials and builds. L&T has placed it in its ‘Ultra-mega’ bracket, which it uses for orders above Rs 15,000 crore.

The company has not shared the exact contract value.

The airport itself will stand on a 1,310-hectare site and is planned for 2026 to 2030, with a first phase that includes two 4 km runways and a 208,000 square metre terminal, starting at 20 million passengers a year and able to grow to 46 million.

A 35-year PPP deal drives the project, backed by firms from Saudi Arabia, Japan, South Korea and Uzbekistan. Big orders are not new for L&T this year.

On 24 August, it bagged an ultra-mega gas compression order worth over Rs 15,000 crore in the Middle East. Its board meets on 27 October to consider financial results.

The stock is down 4.68% over one year and 11.61% so far in 2026, and it has slipped 5.79% in the past month.

Its 52-week high is Rs 4,440, hit on 24 February. The Nifty 50 was down 0.86% at the time.

At 12:55 pm, it’s trading at Rs 3,660 on NSE, up by 0.91% or Rs 32.90 from the previous close.

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