L&T and BHEL emerge as lowest bidders for projects worth up to ₹22,500 crore: Exclusive

Larsen and Toubro Ltd. (L&T) and state-run BHEL have emerged as the lowest bidders respectively for two major projects, one valued at ₹10,300 crore and the other valued at ₹22,500 crore, industry sources with knowledge of the matter told CNBC-TV18.Sources said that L&T, India’s largest infrastructure and construction conglomerate has emerged as the lowest bidder for a ₹22,500 crore package.

The package pertains to NTPC Lara and DVC-CIL projects. The first project is the NTPC Lara Super Thermal Power Project Stage-III (2×800 MW) in Chhattisgarh, while the second is the DVC-CIL Chandrapura Thermal Power Station (2×800 MW) in Jharkhand, sources added.
For BHEL, the state-run company has emerged as the lowest bidder for the ₹10,300 crore package, which pertains to the Odisha Genco Thermal Power Station expansion project, according to the same sources.CNBC-TV18 reached out to both L&T and BHEL for a comment on the story. While L&T declined to comment, a response from BHEL is awaited.

Shares of L&T has are trading 7.7% higher on Wednesday, rebounding after the temporary truce in West Asia. The stock is back above the ₹4,000 mark after 20 trading sessions.

On the other hand, shares of BHEL ended 4.8% higher at ₹265.84 on Wednesday. The stock is still down 9% so far in 2026.