Last updated: 29 Oct, 2020 | 10:52 am
L&T has reported Q2 results largely in-line with expectations. While there are green shoots of recovery, a full-blown recovery could take a few more months. L&T said that it is seeing tremendous uncertainty in the current environment, and still discovering what the new normal could be post Covid. The company has refrained from providing any guidance.
In terms of the order pipeline, L&T has received a letter of intent from the government for a bullet train valued at Rs 25,000 crore. The project will be completed in four years, adding to order inflow in the third quarter. At the moment, the orders are coming in from only state and central government, many funded by multi-lateral agencies. While the infrastructure segment’s growth was weak in the quarter, strong emphasis by the government on infrastructure spending augurs well for the company. L&T’s diversified business portfolio, a robust Balance sheet and strong order book position will help them sail through the ongoing crisis.