L&T Secures Major Mumbai Housing Project; Jindal Steel Q1 Profit Drops

Larsen & Toubro’s Residential, Commercial Buildings & Factories (RCF) business vertical has secured a substantial order for a major housing redevelopment project in Mumbai. This development coincides with Jindal Steel reporting a significant 43.45% decline in its consolidated net profit for the first quarter of fiscal year 2027.

The engineering conglomerate’s RCF unit bagged an order valued between Rs 5,000 crore and Rs 10,000 crore, categorised as a ‘major’ contract. The project involves the complete design and construction of 26 high-rise residential towers, each reaching 120 metres in height.

L&T’s Mumbai Redevelopment Scope

• Design and construction on a turnkey basis.
• Includes structural works and architectural finishes.
• Encompasses electromechanical services for all towers.

Jindal Steel’s financial results for Q1FY27, ending June 30, 2026, show a notable contraction in profitability. The company’s consolidated net profit dropped to Rs 844.79 crore from Rs 1,493.97 crore in the prior year’s corresponding quarter.

Jindal Steel Q1FY27 Key Financials

• Consolidated Net Profit: Rs 844.79 crore, down 43.45%.
• Standalone Net Profit: Rs 1,085.97 crore, a 33.13% decline.
• Consolidated Total Income: Increased 25.77% to Rs 15,501.32 crore.
• Standalone Total Income: Rose 22.96% to Rs 15,291.77 crore.

Separately, Engineers India has formalized an agreement with the Directorate General of Maritime Administration (DGMA). This memorandum of understanding outlines a framework for Engineers India to offer its specialized engineering, technical advisory, project management, and consultancy services.

These services are intended to support DGMA in the planning, development, modernization, and implementation of various projects within India’s crucial maritime sector.