Larsen & Toubro has officially announced securing a significant contract from the Department of Atomic Energy for the LIGO India Observatory project. The company issued a formal press release under Regulation 30, confirming this major win that adds substantial value to its order book and reinforces its position in complex scientific infrastructure development.

Contract Details and Scope

The comprehensive contract involves two business verticals of L&T - Heavy Civil Infrastructure (HCI) and Heavy Engineering (HE) - working jointly on this prestigious project. The LIGO India Observatory will be established at Aundha in Maharashtra's Hingoli district.

Technical Specifications

L&T's project scope encompasses comprehensive engineering, procurement and construction of vibration sensitive specialised high-precision civil infrastructure. The technical requirements include manufacturing and installation of ultra-high vacuum compatible 8 KM beam tube and critical equipment for vacuum infrastructure.

The project also involves integration of mechanical, electrical, HVAC, fire protection, vacuum control, monitoring system and all support utilities, demonstrating the complexity and technical sophistication required for this scientific facility.

Project Significance

LIGO (Laser Interferometer Gravitational Wave Observatory) is used for detection of gravitational waves caused by cataclysmic cosmic events through multikilometer-scale wave detectors using laser interferometry. This initiative represents one of India's flagship 'Mega Science' projects, developed through collaboration between premier Indian research institutions including RRCAT and IPR, and the LIGO Laboratory of the United States, with support from Caltech and MIT.

Strategic Impact

This prestigious order reinforces L&T's strong track record and proven expertise in delivering complex projects in the field of science and technology. The formal announcement under Regulation 30 highlights the materiality of this contract win for the USD 30 billion Indian multinational, which has maintained leadership in its major lines of business for eight decades through a strong customer-focused approach and constant quest for top-class quality.

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.