Larsen & Toubro has announced the successful acquisition of major Engineering, Procurement and Construction (EPC) contracts for power transmission projects across domestic and international markets through its Power Transmission & Distribution (PT&D) vertical. The company disclosed these developments in an official press release issued on February 25, 2026, demonstrating its continued strength in the power infrastructure segment.

Contract Portfolio Overview

The secured contracts encompass a comprehensive range of power transmission infrastructure development across key regions. According to L&T's order classification system, these projects fall under the "Major" category, indicating a value range of ₹5,000 to ₹10,000 crore.

Domestic Infrastructure Development

The Indian component focuses on strengthening power transmission infrastructure in West Bengal's industrial heartland. The project involves design, supply and construction of two 220 kV Gas Insulated Substations specifically located in the Durgapur-Raniganj-Asansol industrial belt. The scope includes associated transmission line segments featuring advanced conductors and multi-circuit towers, aimed at providing stable voltage profiles and enhanced reliability for infrastructure and industrial projects in the region.

International Market Expansion

The Middle East contracts represent significant international undertakings spanning three different countries in the region. PT&D has secured orders from key utilities for turnkey construction of five substations complemented by over 250 km of transmission lines, with projects reaching up to 500 kV level. One notable project includes supplying and installing a 400 kV underground cable system, showcasing the company's technical capabilities in complex power infrastructure.

Strategic Market Context

According to the company's statement, grid investments have become high-priority areas for economic leaders due to surging demand, shifting energy mix, and security-driven initiatives. These contract wins reflect customer trust in L&T's ability to deliver safe, sustainable, and timely grid infrastructure solutions. The orders strengthen L&T's position as a leading player in power transmission infrastructure, spanning both domestic and international markets with substantial additions to the company's order book.

Larsen & Toubro has announced the execution of a Business Transfer Agreement for the transfer of its e-commerce platform business to a wholly owned subsidiary. The transaction, executed on February 24, 2026, involves the transfer of the SuFin business pertaining to industrial and construction goods to SuFin Limited through a slump sale arrangement.

Transaction Details

The business transfer involves several key parameters that highlight the scope and financial implications of the deal:

The transaction is structured as a related party transaction and is being carried out at arm's length, ensuring compliance with regulatory requirements.

Financial Performance of SuFin Business

The SuFin business being transferred represents a relatively small portion of Larsen & Toubro's overall operations. The financial metrics for FY 2024-25 demonstrate the business unit's contribution:

These figures indicate that while the SuFin business maintains a positive net worth, it constitutes a minimal percentage of the company's total revenue and net worth.

Entity Details and Business Areas

SuFin Limited was incorporated on January 2, 2026, as a newly formed company specifically to carry on the e-commerce platform business for industrial and construction goods. The company currently has nil revenue as it was recently incorporated.

Larsen & Toubro Limited, with standalone revenue of ₹1,42,509.01 crore for FY 2024-25, operates as a diversified industrial conglomerate. The company's business spans multiple sectors including:

• Construction and engineering
• Manufacturing and technology
• Global infrastructure and industrial machinery
• Precision engineering and hydrocarbon
• Heavy engineering and energy
• Ship building, aerospace, mining and minerals

Regulatory Compliance

The proposed transaction is undertaken through a Business Transfer Agreement and falls outside the Scheme of Arrangement. According to the company's disclosure, the SuFin business does not meet the threshold requirements for an "Undertaking" under Section 180(1)(a) of the Companies Act, 2013, and Regulation 37A of SEBI LODR Regulations.

The transaction has been structured to ensure full compliance with SEBI Listing Regulations and the master circular requirements. The company has provided comprehensive disclosures as mandated under Regulation 30 of SEBI LODR, ensuring transparency for stakeholders and regulatory authorities.