Larsen & Toubro starts Tashkent airport work: what it means for Larsen & Toubro stock

Published on 10/20/2026 at 11:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The airport project exceeds INR 15,000 crore and targets 17 million passengers. Larsen & Toubro stock faces Q2 FY27 results on October 27, 2026.

Airport order and earnings date

Larsen & Toubro received the airport notice to proceed on October 19, 2026, for a project above INR 150.0 billion.
Motilal Oswal set an INR 4,400 target on October 7, 2026.
The next results meeting is scheduled for October 27, 2026.

Larsen & Toubro, INE018A01030, Illustration mit AI erstellt.

Larsen & Toubro (INE018A01030) has started work on a New Tashkent International Airport project classified above INR 150.0 billion. ET Infra reported on October 19, 2026, that the company received a Limited Notice to Proceed and began initial engineering, design, planning and procurement preparation. The project is designed for 17 million passengers annually.

Airport value and investor math

The notice to proceed gives Larsen & Toubro an immediate pre-construction role, while full construction depends on contractual conditions being fulfilled. The company will handle the passenger terminal and associated landside infrastructure, including roads, structures, utilities and airport systems, according to ET Infra.

For valuation, Motilal Oswal kept a Buy rating and an INR 4,400 target in research dated October 7, 2026. Moneycontrol said the broker sees core engineering and construction revenue growing at a 14 percent compound annual rate from fiscal year 2026 to fiscal year 2029. Its order book was INR 7.8 trillion as of June 2026.

Three dated developments

Larsen & Toubro reported first-quarter fiscal year 2027 revenue of INR 679.42 billion for the period ended June 30, 2026, while TradingView listed quarterly earnings per share of INR 29.96 against an estimate of INR 27.48. On October 7, 2026, Motilal Oswal set its INR 4,400 target. On October 19, 2026, Larsen & Toubro began initial activities at the Tashkent airport after receiving the Limited Notice to Proceed.

What does the airport work add?

The project expands Larsen & Toubro's international airport portfolio, but the near-term financial effect is tied to the transition from design and procurement preparation to full construction. The planned facility's 17 million-passenger capacity gives the contract a measurable operating scale, while the INR 150.0 billion classification places it in the company's ultra-mega order category.

Next company date

Larsen & Toubro's board is scheduled to consider unaudited results for the quarter and half year ended September 30, 2026, on October 27, 2026, according to Bsenexus. The same date is listed for the company's results meeting and investor communication.

Stock context

Larsen & Toubro last stood at INR 3,661.90 on the NSE on October 19, 2026 at 3:29 p.m. IST. Its 52-week range was INR 3,288.10 to INR 4,440.00, and its market capitalization was INR 5.0 trillion on that quote date.