L&T shares climb 1% on bagging large design-and-build order for APM system at Dubai’s Al Maktoum Airport

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.

It includes guideways, direct current (DC) traction substations, power distribution, signalling and telecommunications, onboard communication systems for vehicles, platform screen doors and depot equipment.

The project, developed by Dubai Aviation City Corporation and being implemented through Dubai Aviation Engineering Projects, is a key component of the airport's long-term expansion programme designed as a multi-phase development, the filing read.

Once fully developed, Al Maktoum International Airport will become the world's largest airport, with a capacity of 260 million passengers and 12 million tonnes of freight annually.

Recent updates

L&T bought more than 2 crore units of Nxt-Infra Trust for ₹199 crore on Wednesday, August 19, through an open market transaction, according to the bulk deal data on the NSE.

L&T purchased 2,08,75,000 units of Mumbai-based Nxt-Infra Trust, a SEBI-registered InvIT (Infrastructure Investment Trust).

The transaction was executed on Tuesday at an average price of ₹95.33 a unit, taking the transaction size to ₹199 crore, as per the data.

Furthermore, in a separate regulatory filing dated August 17, the company’s subsidiary L&T Energy Hydrocarbon Offshore (LTEH Offshore) bagged an 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 L&T climbed as much as 1.05% to hit an intraday high of ₹4,083.60 per unit on the National Stock Exchange (NSE) on Thursday, August 20, compared to Wednesday’s closing price of ₹4,041.30 apiece.

At around 11:43 AM, the scrip was trading 0.81% higher at ₹4,074 per equity share. The stock has risen 6% over the month but fallen 2% on a year-to-date (YTD) basis.

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

Larsen & Toubro has a total market capitalisation of ₹5.6 lakh crore as of August 20, 2026, according to data on the NSE.