Larsen and Toubro Ltd. on Wednesday, September 9, informed the exchanges that its subsidiary L&T Energy Hydrocarbon Offshore has won a large offshore order from the Oil and Natural Gas Corporation . L&T classifies orders in the ₹2,500 crore to ₹5,000 crore range as "large".
It said the order is for the additional development of Ratna–I and NLM-14 project off India's west coast, L&T said. The project involves engineering, procurement, construction, installation and commissioning of three new well-head platforms, one riser platform, multiple segments of subsea pipelines and cables, and brownfield modifications to existing offshore installations, the company said.
L&T said in its filing that the project is aimed at enhancing production and supporting the continued development of ONGC's offshore assets in the region."Drawing on our extensive offshore EPCIC experience, we look forward to delivering these developments safely and efficiently, while supporting ONGC's long-term production objectives," Parthasarathi Chatterjee, the senior vice-president and head of L&T Energy Hydrocarbon Offshore, said.
On August 24, the company said LTEH Onshore had signed an "ultra mega" order for a gas compression project in West Asia. As per L&T's classification, an "ultra-mega" order is above ₹15,000 crore. L&T reported mixed earnings in the first quarter as its EBITDA missed estimates but order inflow was a positive surprise.
The L&T management also held on to its guidance for the financial year 2027. Shares of L&T are off the highs of the day but are holding on to gains of 0.6% at ₹3,971.9. The stock is still down 4% so far in 2026.