L&T secures ₹15,000 crore ultra-mega gas compression project contract in the Middle East; shares trade flat

According to L&T’s order classification lexicon, an ultra-mega order translates to an order or contract worth more than ₹15,000 crore.

The project involves the engineering, procurement, and construction (EPC) of gas compression plants, comprising gas inlet facilities, gas compression systems, condensate and produced water handling systems, propane refrigeration systems, and all associated utilities, according to a regulatory filing.

The facilities will be developed for new onshore installations to process sour gas in compliance with applicable client standards, codes, and project requirements, L&T said.

L&T’s Power Transmission & Distribution business will execute two 230-kilovolt (kV) extra-high-voltage substations to meet the power requirements of the gas compression plants, the filing read.

Commenting on the project, E S Sathyanarayanan, Senior Vice President & Head of L&T Energy Hydrocarbon Onshore, said: “The contract marks the start of a strategically important project that will add significant gas compression capacity and utility infrastructure. The project draws on our extensive experience in executing large and complex hydrocarbon facilities and reinforces our capability to deliver integrated solutions for challenging sour gas applications.”

Recent order wins

In a separate filing dated August 20, L&T’s transportation infrastructure business vertical, in consortium with Japan’s Mitsubishi Heavy Industries (MHI), bagged a large order to design and build the Automated People Mover (APM) System for Phase 1 of Al Maktoum International Airport in Dubai. As per L&T's order classification lexicon, a large order is defined as one ranging from ₹2,500 to ₹5,000 crore.

The scope of work for the MHI-L&T consortium encompasses the turnkey delivery of a fully integrated APM System, including design, construction, supply, testing, commissioning, and operational readiness of all associated infrastructure and systems, according to a regulatory filing.

Under the Design-and-Build contract, L&T will undertake the design, procurement, delivery, and integration of critical APM infrastructure and systems.

In another filing dated August 17, LTEH Offshore had bagged another ultra-mega order worth over ₹15,000 crore from a Middle East client, which involves the development of multiple offshore facilities.

LTEH Offshore will execute the project scope encompassing engineering, procurement, construction, installation, and commissioning (EPCIC) of offshore facilities. A significant portion of the fabrication activities will be carried out at L&T's integrated manufacturing and fabrication facilities.

L&T stock performance

Shares of Larsen & Toubro advanced as much as 0.34% to hit an intraday high of ₹4,107.10 per unit on the National Stock Exchange (NSE) on Monday, August 24, following the order win announcement.

At around 10:36 AM, the scrip was trading flat at ₹4,092.20 per equity share, down by 0.80 points or 0.02%.

The stock has risen 8% over the month but lost more than 1% on a year-to-date (YTD) basis.

While the shares hit a 52-week high of ₹4,440 apiece on February 24, 2026, they touched a year’s low of ₹3,288.10 per unit on March 23, 2026.

Larsen & Toubro has a total market capitalisation of ₹5.6 lakh crore as of August 24, 2026, according to data on the NSE.