L&T retains FY26 sales growth guidance, to exceed order inflow growth of 10%
This story was originally published at 22:20 IST on 28 January 2026
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--L&T: Domestic order flow picked up in Oct-Dec
--CONTEXT: L&T management's comments at post-earnings press conference
--L&T: Prospective order pipeline stands at INR 5.96 tln
--L&T: Expect to end FY26 with robust order book for hi-tech mfg segment
--L&T:Expect plant load factor at Nabha Power Plant to improve in coming mos
--L&T: Positioned well to exceed FY26 order inflow growth guidance of 10%
--L&T: Orders from private sector helped Q3 pickup in domestic flows
MUMBAI – Engineering giant Larsen & Toubro Ltd. has retained its revenue growth guidance of 15% for 2025-26 (Apr-Mar) but expects to exceed the order inflow guidance of 10%. The company sees a prospective order pipeline of INR 5.96 trillion for participation before the close of FY26, Chief Financial Officer R. Shankar Raman said in a post-earnings media briefing Wednesday.
Of the INR 5.96 trillion worth of prospective orders in the pipeline, projects worth nearly INR 4 trillion are from various areas under the infrastructure segment, hydrocarbon projects amount to INR 1.25 trillion, projects worth INR 500 billion could be from carbon-light, power, heavy engineering, and precision engineering areas, and the remaining portfolio could have a prospect pipeline of INR 250 billion, Raman said.
For the recently-concluded December quarter, the company's consolidated revenue from operations rose over 10% on year and over 5% on quarter to INR 714.50 billion. However, its net profit for the quarter fell nearly 4% on year and more than 18% on quarter to INR 32.15 billion, dragged down by a heavy one-time cost on account of the changes prompted by the new labour codes.
The company's consolidated net profit for the first nine months of FY26 rose nearly 13% on year to INR 107.58 billion and its revenue from operations grew 12% to INR 2.03 trillion.
Amongst its developmental projects, the company had announced that it will divest its entire stake in Hyderabad Metro Project (Phase-1) to Telangana government. "As far as Hyderabad metro is concerned, I think the effort is to do it as soon as possible. We do believe that by the end of the financial year, we should be able to arrive at a solution," said Raman.
In the case of Nabha thermal power plant, the management said its load factor declined to mid-70s in the December quarter from the mid-80s of the previous year. The company expects the plant load factor to increase as India enters into the summer season.
Amid media reports about possible oil and gas order cancellations worth $8.7 billion, the company said that of the five orders it had bid for, four have been cancelled temporarily. The company said it did not receive approval from the Kuwait government due to higher bidding price than the allocated budget. Only one bid of L&T is active in Kuwait. The company expects to receive the necessary approvals from the government in the coming months. L&T was reportedly bidding for tenders worth over $45 billion.
"I think it's just a matter of procedural correction because all these projects are strategically very important to maintain their production. And also, in fact, to deliver their target plan for increased production. International loyal companies who are partnering with KOC (Kuwait Oil Co.) have also submitted a report saying that these are essential projects. So I think they will tweak the tender documents, get the additional funds approved, and then they will refloat," the company said.
During the December quarter, orders from the private sector helped lift the company's domestic order inflows, which were seeing "softness over the last few quarters," the management said. In the nine months ended Dec. 31, the share of private sector in the company's domestic order inflows increased to 60% from 40% a year ago. The company expects to end FY26 with a robust order book for the hi-tech manufacturing segment, the management said.
On Wednesday, L&T shares closed marginally higher at INR 3,794 on the National Stock Exchange. End
US$1 = INR 91.78
Reported by Astha Oriel and Shakshi Jain
Edited by Ashish Shirke
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