Highlights

• L&T secured orders worth ₹ 1,35,581 crore in Q3 FY26, with the consolidated order book crossing ₹ 7 lakh crore, reflecting a 30% year-on-year growth.
• Consolidated revenues rose to ₹ 71,450 crore (10% YoY), while recurring PAT increased to ₹ 4,406 crore (31% YoY) for the quarter.
• Domestic and international opportunities, backed by infrastructure spending and global projects, position L&T to sustain growth and capture emerging market demand.

Larsen & Toubro Ltd (NSE:LT) has demonstrated notable performance in the quarter ended December 31, 2025, with order inflows, revenue growth, and recurring profit. The company continues to benefit from a diversified business portfolio spanning thermal power, hydrocarbons, renewable energy, infrastructure, and international markets. With a growing order book and a positive economic backdrop in India and key global markets, L&T remains positioned to capitalize on upcoming opportunities.

At the time of writing on 29 January 2026, LT shares were 3.89% higher at ₹3,941.50 per share.

Record Order Inflows Fuel Growth

L&T reported order inflows of ₹ 1,35,581 crore for Q3 FY26, marking a year-on-year increase of 17%. The inflows were spread across multiple sectors, including Thermal Power, Hydrocarbons, Renewable Infrastructure, Transmission & Distribution, and Roads & Runways. International orders contributed ₹ 66,848 crore, representing 49% of the total inflow.

This growth reflects L&T’s ability to secure large-scale projects in both domestic and international markets, providing a favourable revenue pipeline for upcoming quarters.

Revenue and Profit Performance

For the quarter, L&T recorded consolidated revenues of ₹ 71,450 crore, up 10% year-on-year. International revenues contributed ₹ 38,775 crore or 54% of total revenues, demonstrating the company’s global market penetration.

Recurring Profit After Tax (PAT) rose to ₹ 4,406 crore for the quarter, showing a year-on-year increase of 31%. For the nine months ended December 31, 2025, recurring PAT was ₹ 11,949 crore, up 25% compared to the previous year. The total consolidated PAT for the quarter stood at ₹ 3,215 crore, which includes a one-time provision of ₹ 1,191 crore for employee benefits under new labour codes.

Outlook and Market Positioning

The Indian economy continues to show resilience with Q2 GDP growth at 8.2% and expected FY26 growth around 7.4%, supported by low inflation and policy stability. The Union Budget 2026–27 is projected to enhance spending on technology, defence, and urban infrastructure, creating a conducive environment for L&T’s diversified business segments.

Globally, L&T’s focus regions such as the GCC are set for investments in AI, data centers, and urban projects, offering further opportunities for order inflows and revenue growth. L&T’s strategy of expanding its geographic footprint, enhancing execution efficiency, and strengthening service businesses is expected to sustain returns to stakeholders.

Larsen & Toubro’s Q3 FY26 performance underscores robust order inflows, rising revenues, and recurring profitability. With a record order book and a positive macroeconomic environment, L&T’s share price and long-term outlook remain promising for investors seeking exposure to a diversified Indian multinational with significant international operations.

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