L&T bags Rs 2000 crore orders for office & residential building in Mumbai

Larsen & Toubro (L&T) has announced that Larsen & Toubro’s (L&T) construction division has recently secured orders on design and build / turnkey basis from leading developers / owners. Prominent amongst these include Rs 2000 crore order from Kingston Properties for construction of various office & residential buildings in Mumbai, to be developed in a span of 4 years.

Apart from this project the buildings and factories (B&F) business unit of L&T’s construction division (ECC) has secured orders for many assignments including Rs 665 crore design & build contract from Cognizant Technology for their development centres in Chennai and Kolkatta.

L&T has also bagged a Rs 187 crore turnkey order from ITC Hotels for their Grand Chola Hotel at Chennai. The scope involves construction of 1.52 million sq ft area to house 600 rooms.

The company has secured a Rs 408 crore contract from ICICI Bank for construction of their office building at Hyderabad. The scope involves construction of 4.0 million sq ft building area, having basement plus 16 floors.

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The year 2007 saw Indian IPO Market scaling new records. In 2007, 112 stock got listed on NSE/ BSE 3 out of 10 gave a return of more than 100%, five outperformed BSE – SENSEX and 3 are trading below issue price. IPOs are selling like hot cake in India because of the simple reason that it gives easy money when the investor chooses the IPO on our recommendation. However, the big challenge was Getting allotment in IPO, which is just like lottery and it depends more on luck if the IPO is like that of most sought after (more…)

Hindustan Construction Company incorporates special purpose vehicle

Hindustan Construction Company has incorporated a special purpose vehicle (SPV) company i.e. HCC Singapore Enterprises as a wholly owned Subsidiary of the company for promoting its business including those of the group companies.

HCC Real Estate (HREL), the wholly owned subsidiary of the company has also incorporated a special purpose vehicle (SPV) company i.e. Charosa Wineries for undertaking wine business.