L&T shares rise nearly 2% as vertical bags ‘significant’ road development contract in Dubai

This comes after its transportation infrastructure business vertical bagged a “significant” road development contract in Dubai. According to L&T’s classification, a significant order translates to a project ranging between ₹1,000 and ₹2,500 crore.

At around 1:27 pm, the stock was trading 1.23% higher at ₹4,164.10 per equity share.

The scrip has gained 3% in the past week and more than 3% over the month. On a year-to-date basis, it has risen nearly 1%.

While the share touched a 52-week high of ₹4,195 on January 5, 2026, it reached a year’s low of ₹2,965.30 apiece on April 7, 2025.

Order win

In a regulatory filing, the construction major stated that it bagged a contract for the improvement of Latifa Bint Hamdan Street in Dubai, UAE.

The ₹1,000-2,500 crore order pertains to the phase-1 of the road development initiative undertaken by the UAE authorities, it stated, adding that the project is scheduled to be completed in 36 months.

The scope of the project includes upgrading the existing road corridor stretching from Emirates Road (E611) to Sheikh Mohammed Bin Zayed Road (E311), the filing noted.

L&T added that the work involves widening the current two‑lane dual carriageway into a four‑lane dual carriageway in each direction to enhance network capacity and ease traffic flow.

“A significant feature of the project will be the construction of a major structural interchange at E311, designed to enable seamless traffic movement across all directions,” it said, adding that beyond the interchange, the corridor will be extended with a new four‑lane dual carriageway along Latifa Bint Hamdan Street.

The development also includes a dedicated interchange to facilitate U‑turn movements and provide improved access to developments located on both sides of the corridor, the company stated.

L&T data centre capacity plans

L&T plans to commission 18 MW of data centre capacity by March-end, which would take its total operational capacity to 32 MW by the end of the current fiscal, as per a PTI report.

The total capital expenditure for the data centre stands at around ₹1,000 crore.

In the semiconductor business, L&T is focusing on design-led chips and engaging with multiple customers, with most spending being expensed through the profit and loss account, the company said during the Q3 earnings conference call.

As far as the electrolyser business is concerned, the company has developed a fully indigenous 4 MW stack and is upgrading it to 8-10 MW, expecting significant orders in the near term.

"As of now, we have almost 32 MW of capacity in the Data Center, out of which 14 megawatts are up and running; another 18 megawatts will get commissioned by the end of this fiscal year," a company official said during the conference call.

"The total capex investment in the data centre is roughly in the range of ₹1,000-odd crores," the official added.

L&T has a total market capitalisation of ₹5.73 lakh crore, as of February 10, 2026, according to data on the NSE.