On a consolidated basis, the company’s net profit declined 4.27% year-on-year to Rs 3,215.11 crore in Q3 FY26, even as revenue from operations rose 10.48% to Rs 71,449.70 crore in Q3 FY26, compared with Rs 64,667.78 Q3 FY25.

The company’s consolidated PAT for the quarter includes a one-time Rs 1,191-crore provision (net of tax and non-controlling interest) for employee benefits under the new labour codes, classified as an exceptional item.

The company’s revenue growth was driven by consistent execution across the company’s Projects & Manufacturing (P&M) businesses.

Profit before tax (PBT) jumped 34.27% YoY to Rs 7,160.98 crore in Q3 December 2025.

EBITDA stood at Rs 7,417 crore in Q3 FY26, registering the growth of 19% compared with Rs 6,255 crore in Q3 FY25. EBITDA margin stood at 10.4% in Q3 FY26 as against 9.7% in Q3 FY25.

Larsen & Toubro (L&T) secured orders worth Rs 1,35,581 crore in Q3 FY26, up 17% year-on-year. The order inflow spanned multiple geographies and sectors, including Thermal Power, Hydrocarbons, Renewable Infrastructure, Transmission & Distribution, and Roads & Runways. International orders accounted for Rs 66,848 crore, contributing 49% of the total inflow.

As of 31 December 2025, the Group’s consolidated order book reached Rs 7,33,161 crore, up 30% from December 2024, with international orders contributing 49% of the total.

In Q3 FY26, Larsen & Toubro reported strong order inflows and mixed revenue performance across its businesses.

The Infrastructure Projects segment recorded orders of Rs 61,876 crore (up 26% YoY) with an order book of Rs 4,24,937 crore, and revenues of Rs 33,700 crore (up 5%), supported by international project execution; EBITDA margin improved to 6.1%.

Energy Projects secured Rs 46,049 crore in orders (Rs 19% YoY) with an order book of Rs 2,47,861 crore, revenues grew 15% to Rs 12,726 crore, while EBITDA margin declined to 5.9% due to early-stage execution and cost pressures.

Hi-Tech Manufacturing posted Rs 2,168 crore in orders (down 74% YoY) and revenues of Rs 3,267 crore (Rs 34%), with EBITDA stable at 18.3%.

IT & Technology Services delivered Rs 13,526 crore in revenues (up 12%) with EBITDA at 19.7%, largely driven by international billing.

Financial Services reported revenues of Rs 4,477 crore (up 15%) and PBT of Rs 1,021 crore, while Development Projects saw revenues decline 19% to Rs 1,160 crore but EBIT rose to Rs 159 crore.

The Others segment grew 55% YoY to Rs 2,594 crore, with EBITDA rising to 32.8%, led by Realty business handovers.

On its outlook, the company stated that the Indian economy continues to show resilience, with Q2 GDP growth at 8.2% driven by manufacturing and services. With the RBI’s repo rate cut to 5.25% and easing inflation, FY26 GDP growth is expected around 7.4%. The Union Budget 2026–27 is likely to boost spending on technology, defence, and urban development, while private-sector capital expansion in 2025 provides a strong foundation for sustained growth.

Globally, GDP is projected to grow around 3% in 2026. Key markets for the company, including the GCC region, are expected to see robust investments in AI, data centers, and urban infrastructure. The company said it is well-positioned to capitalize on opportunities through geographical expansion, efficient execution across Projects & Manufacturing, cost and cash flow management, and strengthened services businesses, aiming to enhance stakeholder returns.

S. N. Subrahmanyan, chairman and managing director (MD), said, “the company posted its highest-ever quarterly order inflow, with the Projects & Manufacturing portfolio exceeding Rs 1 lakh crore for the first time, taking the overall order book past Rs 7 lakh crore. He attributed the growth to sustainable execution, cutting-edge technology, and integration of ESG principles. Looking ahead, he expressed optimism about continued pro-growth momentum, supported by capital expenditure, policy incentives for domestic manufacturing, and the expansion of India’s digital and AI ecosystem, while reaffirming the company’s focus on technology-led growth and long-term stakeholder value.”

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services.