The L&T New Tashkent airport project has moved into its initial phase, with Larsen and Toubro (L&T) commencing preliminary activities for the ultra-mega international airport project in Uzbekistan.
On Monday, October 19, L&T said its public spaces, airport and health (PAH) business vertical had received a limited notice to proceed (LNTP) from the public-private partnership (PPP) consortium developing the New Tashkent International Airport.
L&T classifies orders valued at more than ₹15,000 crore as ultra-mega. The company did not disclose the specific value of the airport project in the announcement.
L&T New Tashkent airport project begins preliminary work
The limited notice to proceed allows the PAH business vertical to commence initial activities for the airport development.
The New Tashkent International Airport is being developed through a PPP consortium in Uzbekistan. The project forms part of L&T’s international infrastructure business, with the company’s PAH vertical undertaking the initial work.
The latest announcement marks a step forward for the project, although the company has not disclosed further details about the immediate construction schedule or the next project milestones.
L&T shares rise ahead of Q2 results
L&T shares moved to the day’s high following the announcement and were trading 1.5 per cent higher at ₹3,681, according to the cited market report. The stock had declined 11 per cent so far in 2026.
The company is scheduled to announce its second-quarter financial results on October 27, 2026.
Separately, JPMorgan maintained its overweight rating on L&T and set a price target of ₹5,060 per share, according to the report. The target represents the brokerage’s highest-ever price target for the company.
Investors will watch the upcoming results for updates on the company’s financial performance, order book and execution outlook.
