L&T rises as it begins initial work on New Tashkent International Airport project

Larsen & Toubro rose 1.44% to Rs 3,679.50 after the company announced that it had commenced initial activities for the New Tashkent International Airport project in Uzbekistan.

The company's Public Spaces, Airports & Health business vertical has received a Limited Notice to Proceed (LNTP) from the public-private partnership (PPP) consortium developing the greenfield airport. The LNTP follows the award of an engineering, procurement and construction (EPC) contract to L&T for building the passenger terminal and associated landside infrastructure.

Following the notice, L&T has started initial engineering, detailed design, planning, procurement preparation and other pre-construction activities. The full Notice to Proceed is expected after the consortium fulfils the agreed contractual conditions. Construction at the site will begin after the full notice is issued.

The passenger terminal and associated landside facilities are designed to handle approximately 17 million passengers annually. L&T's scope includes site grading, road infrastructure, structural works, architectural finishes, mechanical, electrical and plumbing (MEP) services, utilities and the installation of advanced airport systems.

The New Tashkent International Airport is planned as a major aviation gateway in Central Asia, supporting passenger, cargo and logistics traffic. The development forms part of Uzbekistan's long-term transport infrastructure strategy.

L&T classified the order as an ultra-mega project. Under the company's order classification, this category covers contracts valued at more than Rs 15,000 crore. However, the company did not disclose the specific value of this contract in the announcement.

Sthaladipti Saha, senior vice president and head of Buildings Infrastructure at L&T, said the project would strengthen the company's global infrastructure EPC portfolio and support regional connectivity.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, products and services, operating across diverse domains and multiple geographies. The company had reported a 14% rise in consolidated net profit to Rs 4,123 crore on a 7% increase in consolidated revenues to Rs 67,942 crore in Q1 FY27 over Q1 FY26.

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