L&T’s stock ticked 0.2% lower to ₹3,740.5 as the company announced twin Dubai road‑infrastructure contracts valued at ₹7,500 crore.
The first order covers a new road linking Al Khail Road to Latifa Bint Hamdan Street, complete with bridges and tunnels, while the second focuses on an interchange on Al Meydan Street and a cycling track. Both spans are slated for completion by the end of 2028.
JPMorgan raised L&T’s price target to ₹5,060, citing the contracts as evidence of mid‑teens growth potential. ICICI Direct and Jefferies also target ₹5,000, underscoring consensus on a bullish outlook despite geopolitical headwinds.
With the corridor expected to handle 16,000 vehicles per hour and cut travel time from 33 to 15 minutes between key nodes, the projects dovetail with Dubai’s Vision 2030 transport agenda, positioning L&T as a key partner in the region’s infrastructure boom.
The company will report Q4 results on October 15, where analysts will gauge whether the new contracts translate into a 12% lift in revenue and a 0.8% rise in operating margin for FY26.