Larsen & Toubro 's Power Transmission & Distribution (PT&D) business vertical has secured a batch of EPC orders from prestigious clients in the Middle East for setting up extra-high voltage substations. Announced on May 13, 2026, the orders are classified as 'Significant' under the company's order classification framework, corresponding to a value range of ₹1,000 crore to ₹2,500 crore.

Order Details

The orders pertain to the construction of three high-capacity substations on a turnkey basis, to be executed against stringent timelines. The following table summarises the key parameters of the awarded orders:

These high-capacity substations are intended to ensure the availability of reliable power to large load centres and to decongest grids, enabling them to meet growing electricity demands in the region.

About L&T's Power Transmission & Distribution Business

The PT&D business vertical is a major EPC player providing technology-driven, end-to-end solutions for enabling access to clean and reliable electricity. It offers integrated EPC services and related digital energy solutions, spanning from the establishment of smart and efficient transmission and distribution networks to last-mile electrification. The business serves a diverse client base including utilities, renewable energy developers, and industrial and infrastructure customers.

The PT&D vertical operates across 30 countries in the following regions:

• SAARC
• ASEAN
• Middle East
• Africa
• North America
• CIS regions

L&T's Order Classification Framework

Larsen & Toubro uses a defined classification system to categorise orders by value. The table below outlines the complete framework:

About Larsen & Toubro

Larsen & Toubro is a USD 32 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, Products and Services, operating across diverse domains and multiple geographies. The company has sustained leadership in its major lines of business for eight decades, with a strong focus on AI and technology, customer-centric approach, and a commitment to top-class quality.

Larsen & Toubro 's realty division has laid out an ambitious long-term expansion blueprint under its Lakshya FY26-31 growth strategy, targeting the development of over 100 million sq ft over the next five years. The plan is backed by a planned investment of ₹4,400 crore and sets a target of 25% annual pre-sales growth through FY31. The announcement comes on the back of the division recording ₹9,400 crore in bookings in FY26.

Lakshya FY26-31: Key Strategic Targets

The Lakshya strategy outlines a comprehensive growth agenda for Larsen & Toubro's real estate arm, covering development scale, capital deployment, and sales performance. The following table summarises the key parameters of the plan:

Ambitious Scale and Capital Commitment

The target of over 100 million sq ft over five years signals a significant scale-up in the division's development pipeline. The ₹4,400 crore investment earmarked under the Lakshya framework is intended to support land acquisition, project development, and infrastructure required to meet this construction and delivery target. The capital commitment underscores the division's intent to expand its footprint across the real estate segment.

Pre-Sales Growth Trajectory

The division's target of 25% annual pre-sales growth through FY31 builds on the momentum established in FY26, when it recorded ₹9,400 crore in bookings. Sustaining this growth rate annually through the strategy period would represent a substantial compounding of the division's pre-sales base. The FY26 bookings figure serves as the baseline from which the targeted growth trajectory is measured under the Lakshya plan.

Strategic Outlook

The Lakshya FY26-31 strategy positions Larsen & Toubro's realty division for a period of structured and scaled growth. By combining a large development target with a defined investment commitment and a specific pre-sales growth objective, the plan provides a clear framework for the division's operations over the coming five years. The strategy reflects the division's focus on expanding its real estate development capacity in a structured and measurable manner.