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L&T bags CIDCO order to build residential complexes

L&T will build 23,432 dwelling units as part of the Pradhan Mantri Awas Yojana (PMAY)

, ET Bureau|
Sep 09, 2019, 05.50 PM IST
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MUMBAI: Larsen & Toubro has bagged an order to construct a residential project and related infrastructure for City and Industrial Development Corporation of Maharashtra Limited (CIDCO) at various locations in Navi Mumbai, the engineering major said on Monday

L&T did not disclose the order value but said it is in the Rs 5,000 crore to Rs 7,000 crore range.

L&T will build 23,432 dwelling units for the project which is a part of the Pradhan Mantri Awas Yojana (PMAY) that build residential accommodation for economically weaker section and low-income group.

Reacting to the order win, shares of L&T closed at Rs 1,357.35 on Bombay Stock Exchange on Monday, up 2.2% from the previous close.

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