Larsen & Toubro share price climbs up to 3% as firm's board approves ₹12,000 crore borrowing proposal

The board at its meeting also approved the appointment of Subramanian Sarma, Whole-time Director & President, Energy, as the Deputy Managing Director & President of the company with effect from April 2, 2025, to February 3, 2028.

"The Board of Directors has approved long-term borrowings of up to ₹12,000 crore, including through external commercial borrowings, term loans, non-convertible debentures or any other instrument as may be appropriate," L&T said in an exchange filing.

The board also approved the reappointment of S. V. Desai as the whole-time director of the company with effect from July 11, 2025, to July 4, 2030. It further approved the re-appointment of T. Madhava Das as whole-time director of the company for a term of five years with effect from July 11, 2025.

Shares of the infrastructure major have rallied 5.85% in the past five trading sessions.

Last week, the company’s buildings and factories (B&F) arm secured a large order worth up to ₹5,000 crore from the Brigade Group to construct residential and commercial towers in Hyderabad and Chennai.

“This accounts for the largest residential project that the business has so far received from a private customer,” L&T said in a statement to the exchanges.

• Brigade Gateway Residences at Neopolis, Kokapet, Hyderabad: Comprising 2 luxury towers, the project will feature one of the tallest buildings in Hyderabad, with the configuration being 5B+G+57 floors.

• Brigade World Trade Centre at Neopolis, Kokapet, Hyderabad: A commercial tower standing tall at over 200 metres in the configuration of 5B+G+50 floors. It will also accommodate retail space and a five-star hotel – Brigade Neopolis – and will be the tallest mixed-use development in Hyderabad.

• Brigade Altius, Chennai: The project will be one of the tallest and most prestigious developments in the locality in Chennai, comprising 3 signature towers with a configuration of 6 parking levels and 39 apartment floors.

• Brigade Morgan Heights, Chennai: The project comprises 10 luxury towers in the configuration of 4 parking levels and apartment floors ranging between 11 and 21 floors.

The company’s international orders stood at ₹62,059 crore during the December quarter and comprised 53% of the total order inflow.

The consolidated order book of the group as of December 31, 2024, is at ₹564,223 crore, registering a growth of 19% over March 2024, with the share of international orders at 42%.