Engineering major Larsen & Toubro (L&T) has posted a consolidated PAT of ₹3,215 crore for Q3FY26 against ₹3,359 crore registering a decline of 4% on account of one-time provisioning of ₹1,191 crore towards employee benefits arising from the implementation of the new wage code.
The company reported consolidated revenues of ₹71,450 crore, a YoY growth of 10%, driven by steady execution progress across the various businesses within the Projects & Manufacturing (P&M) portfolio. International revenues were ₹38,775 crore, constituting 54% of total revenues.The company posted a recurring PAT of ₹ 4,406 crore for the quarter ended December 31, 2025, registering an y-o-y growth of 31%.
L&T secured orders worth ₹1,35,581 crore, reflecting a y-o-y growth of 17% for the quarter ended December 31, 2025. The quarter’s order inflow spanned multiple geographies and set of diverse sectors including, Thermal Power, Hydrocarbons, Renewable Infrastructure, Transmission & Distribution and Roads & Runways. International orders stood at ₹66,848 crore, contributing 49% to the total order inflow.
S N Subrahmanyan, Chairman and Managing Director, said: “We have witnessed another landmark quarter for the Company as we posted our highest ever quarterly order inflow. For the first time, the quarterly order inflow in our Projects & Manufacturing (P&M) portfolio has exceeded the ₹ 1 lakh crore mark – a clear reflection of our capabilities and the inherent strength of our business model. Consequently, the order book of the Company has surpassed the ₹7 lakh crore mark. This growth is driven by our unwavering commitment to provide sustainable execution, leveraging cutting-edge technology and seamlessly integrating ESG principles into our business framework. Looking ahead, we remain optimistic that pro-growth momentum will be maintained in the eco-system through sustained capital expenditure. We expect additional policy thrust to strengthen domestic manufacturing and fiscal incentives to support the deepening of India’s digital and AI ecosystem.
The Infrastructure Projects segment recorded an order inflow of ₹61,876 crore for the quarter ended December 31, 2025, registering a y-o-y growth of 26%. International orders accounted for 55% of the total order inflow for the quarter aided by receipt of high-value orders in the Power Transmission & Distribution and Renewables businesses. As on December 31, 2025, the segment order book stood at ₹4,24,937 crore, with international orders contributing 45% to the total.
The EBITDA margin of the segment for the quarter ended December 31, 2025, was at 6.1% compared to 5.5% in the same period of the previous year. The improvement in margins was driven by enhanced operational efficiency and focussed cost management.
The Energy Projects segment secured order inflows of ₹46,049 crore for the quarter ended December 31, 2025, registering a YoY growth of 19% with receipt of ultra mega orders in the Hydrocarbon – Offshore Wind and CarbonLite Solutions businesses. International order inflows constituted 43% of the total order inflow during the quarter. The segment order book stood at ₹2,47,861 crore as on December 31, 2025, with the international order book representing 65% of the total.
The segment recorded an EBITDA margin of 5.9% for the quarter ended December 31, 2025, compared to 8.3% in the corresponding period of the previous year. The decline in margin reflects cost pressures in select onshore Hydrocarbon projects along with new orders in CarbonLite Solutions business being at an early stage of execution, where margin recognition has not yet commenced.
Hi-Tech Manufacturing segment reported order inflows of ₹2,168 crore for the quarter ended December 31, 2025, reflecting a 74% decline compared to the corresponding quarter of the previous year attributable to high base effect in the Precision Engineering & Systems (PES) business. Export orders accounted for 35% of the total order inflow during the quarter. As on December 31, 2025, the segment order book stood at ₹37,865 crore, with export orders contributing 12% to the total.
The segment recorded an EBITDA margin of 18.3% for the quarter ended December 31, 2025, broadly in line with the 18.2% reported in the corresponding quarter of the previous year.
IT & Technology Services (IT&TS) reported customer revenues of ₹13,526 crore for the quarter ended December 31, 2025, registering a y-o-y growth of 12%, largely in line with the customer spends in the IT&TS sector. International billing accounted for 92% of the total customer revenues during the quarter. The segment delivered an EBITDA margin of 19.7% for the quarter ended December 31, 2025, an improvement over 18.7% in the corresponding quarter of the previous year. The improvement in margin is largely due to operational efficiencies and forex tailwinds.