L&T Reports 16% Rise in Revenue, 30% Jump in PAT

New Delhi, July 29, 2025: Larsen & Toubro (L&T) received orders worth INR 94,453 crore at the group level during the quarter ended June 30 and registered a YoY growth of 33 per cent aided by a strong ordering momentum witnessed across diverse businesses.

During the quarter, orders were received across multiple businesses, like thermal BTG, renewables, power transmission and distribution, hydel, non-ferrous metals, offshore and onshore businesses of hydrocarbon and commercial and residential projects. International orders stood at INR 48,675 crore, accounting for 52 per cent of the total order inflow.

The consolidated order book of the group as on June 30 was at INR 612,761 crore, a growth of six per cent over March. The share of international orders was 46 per cent.

The company achieved consolidated revenues of INR 63,679 crore for the quarter, registering a YoY growth of 16 per cent with healthy execution witnessed in its key projects and manufacturing portfolio. International revenues during the quarter were at INR 32,994 crore, constituting 52 per cent of the total revenues.

L&T posted a consolidated PAT of INR 3,617 crore, registering a YoY growth of 30 per cent.

“This quarter, we have performed well across all financial parameters. At a group level, we registered once again the highest order inflow for Q1 ever. Besides improved performance on all P&L parameters, the return ratios have also moved higher,” said SN Subrahmanyan, CMD.

“The projects and manufacturing businesses of the company continue to perform well. The record order book of INR 6 lakh crore-plus is a testimony of our proven expertise in the domains of engineering, construction, manufacturing and project management.”

He added, “This being a terminal year of our Lakshya’26 five-year plan, I am pleased to say that so far, our journey in the last four years has been good and we are on track to achieve/surpass the specified targets across all financial parameters.”

Further, L&T’s new-age businesses like semiconductor, data centres, green energy and digital platforms have been successfully incubated in the current strategic plan. “We expect these businesses to contribute meaningfully over the next five years. Besides enabling portfolio-level diversification, these businesses reinforce our presence in technology-driven sectors and stay future-ready.”

Segment-Wise Performance Highlights

Infrastructure Projects Segment

The infrastructure projects segment secured order inflow of INR 41,024 crore, registering a moderate growth of two per cent over the corresponding quarter of the previous year. International orders constituted 69 per cent of the total order inflow of the segment during the quarter aided by the receipt of major orders in the renewables and transmission and distribution businesses.

The segment order book stood at INR 370,390 crore with the share of international orders at 42 per cent.

Customer revenues were at INR 28,757 crore, registering a YoY growth of seven per cent. International revenues constituted 40 per cent of the total customer revenues of the segment during the quarter.

The EBITDA margin of the segment was at 5.7 per cent, in line with the corresponding quarter of the previous year.

Energy Projects Segment

The energy projects segment secured orders valued at INR 31,420 crore, registering a more than 100 per cent YoY growth with the receipt of multiple BTG packages in the carbonlite solutions business. International order inflows constituted 24 per cent of the total order inflow during the quarter.

The segment order book stood at INR 186,401 crore with the international order book constituting 65 per cent of the total.

Customer revenues stood at INR 12,470 crore, registering a robust growth of 47 per cent YoY led by an execution ramp-up in international projects of the hydrocarbon business. International revenues constituted 71 per cent of the total customer revenues of the segment during the quarter.

The segment’s EBITDA margin stood at 7.3 per cent, compared to 8.7 per cent in the corresponding quarter of the previous year. Margin variation is reflective of the varying project execution status within the portfolio.

Hi-Tech Manufacturing Segment

The segment secured orders valued at INR 1,889 crore, a 49 per cent decline over the corresponding quarter of the previous year, primarily attributable to a high base in the precision engineering and systems business. Export orders constituted 52 per cent of the total order inflow of the segment during the quarter.

The order book of the segment was at INR 39,162 crore with the share of export orders at 12 per cent.

Customer revenues were at INR 3,227 crore, registering a growth of 75 per cent YoY, attributable to improved execution in both the heavy engineering and precision engineering and systems businesses. International revenues constituted 25 per cent of the total customer revenues for the segment during the quarter.

The EBITDA margin of the segment was at 15.1 per cent, lower compared to the previous year at 17.4 per cent. The reduction in segment margin is primarily attributable to key orders in the PES business that are currently in the early stages of execution and hence do not accrue margin.

IT & Technology Services (IT&TS) Segment

The segment recorded customer revenues of INR 12,619 crore, a YoY growth of 10 per cent, largely in line with the cautious IT&TS spending across the developed world. International billing contributed 92 per cent of the total customer revenues.

The EBITDA margin for the segment was lower at 19.5 per cent compared to 20.0 per cent in the corresponding quarter of the previous year. The decline is largely attributable to incremental costs incurred towards the newly incubated businesses.

Financial Services Segment

The segment recorded income from operations at INR 3,971 crore, a YoY growth of eight per cent, mainly attributable to the focused higher disbursements in the retail business.

The total loan book of INR 102,314 crore grew by five per cent compared to March at INR 97,762 crore. The retail loan book now constitutes 98 per cent of the total loan book as on June 30.

The segment PBT for the quarter at INR 943 crore is in line with the corresponding quarter of the previous year.

Development Projects Segment

The segment recorded customer revenues of INR 1,242 crore, a decline of six per cent YOY, largely attributable to lower plant load factor at the Nabha thermal power plant.

The segment’s EBITA at INR 143 crore remains in line with the corresponding quarter of the previous year.