L&T’s Record Order Book Leads India’s Infrastructure Sector Into Q1 FY27 With Margin Questions Unresolved

Larsen and Toubro reported Q1 FY27 revenue of Rs 67,942 crore on a record order book of Rs 7.79 lakh crore, but the real margin story belonged to mid-tier specialists NCC and KNR, which converted government infrastructure spending into sharper execution returns than India's largest engineering conglomerate.