Price as of 13 Nov 2026 close: ₹4,143.8 (NSE: LT, BSE: 500510). Results are consolidated Q2 FY27 figures (quarter to 30 Sep 2026) as reported by Free Press Journal, Upstox and Kotak Neo. Price and consolidated EPS from StockAnalysis.
Larsen & Toubro, India’s largest engineering and construction company, grew Q2 FY27 profit 33% to ₹5,202 crore on revenue up 16% to ₹78,750 crore. Orders were a record ₹1.48 lakh crore in the quarter, taking the order book to about ₹8.5 lakh crore — more than two and a half years of revenue. International work is now 58% of revenue. At ₹4,143.80, near its 52-week high, it trades at about 35× trailing earnings.
Table of Contents
1. L&T Share Price Targets 2027–2030 at a Glance
All three scenarios come from one formula (next section). Targets are for the end of each calendar year.
| Year-end | Bear (₹) | Base (₹) | Bull (₹) |
|---|---|---|---|
| 2027 | 3,280 | 4,650 | 5,980 |
| 2028 | 3,550 | 5,350 | 7,120 |
| 2029 | 3,830 | 6,150 | 8,470 |
| 2030 | 4,140 | 7,080 | 10,080 |
The base case implies a price change of roughly 14% a year from today's ₹4,143.8 to the end of 2030.
2. How We Calculate These Targets
Target = projected EPS × P/E multiple. Each year-end target uses the EPS of the financial year that follows (for example, the 2027 target uses FY28 EPS), because markets price stocks on forward earnings. Read our full methodology.
- Starting EPS: trailing twelve-month EPS of ₹117.30 (₹4,143.80 ÷ ~35.3× P/E).
- Bear case: EPS grows 8% a year, P/E 24×. Order execution slows, margins stay under pressure and the multiple falls.
- Base case: EPS grows 15% a year, P/E 30×. The record order book converts steadily and margins improve modestly; P/E eases from ~35×.
- Bull case: EPS grows 19% a year, P/E 36×. Middle East and domestic infrastructure orders keep growing and margins expand.
| Financial year | Bear EPS (₹) | Base EPS (₹) | Bull EPS (₹) |
|---|---|---|---|
| FY28 | 136.82 | 155.13 | 166.11 |
| FY29 | 147.76 | 178.40 | 197.67 |
| FY30 | 159.59 | 205.16 | 235.23 |
| FY31 | 172.35 | 235.93 | 279.92 |
Worked example (base, 2027): ₹117.3 × 1.15 × 1.15 = ₹155.13 FY28 EPS → × 30 = ₹4,650.
Sensitivity — 2030 base-case EPS of ₹235.93 at different multiples:
| P/E | 24× | 30× | 36× |
|---|---|---|---|
| 2030 price (₹) | 5,660 | 7,080 | 8,490 |
3. Latest Results: What Changed
| ₹ crore / % | Q2 FY26 | Q2 FY27 | Change |
|---|---|---|---|
| Revenue | 67,984 | 78,750 | +16% |
| Net profit | 3,926 | 5,202 | +33% |
| Order inflow | ~1,15,800 | 1,47,665 | +28% (record) |
| Order book | ~6.7 lakh cr | ~8.5 lakh cr | +28% |
| International share of revenue | 58% | ||
| H1 FY27 net profit | ~7,520 | 9,325 | +24% |
What changed: strong execution and record orders. Profit grew twice as fast as revenue, though reports note operating margins remain under some pressure. The order book gives several years of revenue visibility.
What it means for the targets: the base case assumes 15% EPS growth from order-book conversion, with the multiple easing.
4. L&T Share Price in 2026: Where It Stands
With only weeks left in 2026, a year-end "target" is not meaningful. The stock closed at ₹4,143.8 on 13 Nov 2026, within a 52-week range of ₹3,288.10 – ₹4,440. The stock is close to its 52-week high.
5. L&T Share Price Target 2027: ₹3,280 – ₹5,980 (Base ₹4,650)
Based on FY28 EPS of ₹136.82 / ₹155.13 / ₹166.11 (bear / base / bull). What to watch: order inflow, especially from the Middle East and Indian infrastructure.
6. L&T Share Price Target 2028: ₹3,550 – ₹7,120 (Base ₹5,350)
Based on FY29 EPS of ₹147.76 / ₹178.40 / ₹197.67 (bear / base / bull). What to watch: core engineering & construction margin.
7. L&T Share Price Target 2029: ₹3,830 – ₹8,470 (Base ₹6,150)
Based on FY30 EPS of ₹159.59 / ₹205.16 / ₹235.23 (bear / base / bull). What to watch: working capital as the order book grows.
8. L&T Share Price Target 2030: ₹4,140 – ₹10,080 (Base ₹7,080)
Based on FY31 EPS of ₹172.35 / ₹235.93 / ₹279.92 (bear / base / bull). What to watch: by 2030 small yearly differences compound into a wide range; revisit after each annual result.
9. Key Metrics
| Metric | Value | Why it matters |
|---|---|---|
| P/E (trailing) | ~35× | |
| P/E (forward) | ~25× | |
| Order book | ~₹8.5 lakh crore | ~2.7× annual revenue |
| Market cap | ~₹5.7 lakh crore | |
| International revenue share | 58% |
10. Risks That Would Break the Base Case
- Middle East exposure: a large share of orders comes from Gulf countries.
- Margins: fixed-price contracts are exposed to cost overruns.
- Execution: converting an ₹8.5 lakh crore order book needs labour, materials and timely payments.
- Valuation: at ~35× earnings, the stock prices in strong growth.
11. What the Numbers Suggest
L&T has the strongest order visibility in Indian industry. The variable to track is margin on that order book. If execution and margins hold, the base case (₹7,080 by 2030) is reasonable; cost overruns or Middle East disruption point to the bear case.
This is a framework, not a recommendation. Your own decision should depend on your time horizon, risk tolerance and existing holdings.
12. FAQs on L&T Share Price
What is the L&T share price target for 2027?
Our base case is ₹4,650, assuming 15% annual EPS growth and a 30× P/E. The range is ₹3,280 (bear) to ₹5,980 (bull).
What is the L&T share price target for 2030?
Base case ₹7,080; range ₹4,140 to ₹10,080. It assumes FY31 EPS of about ₹235.93.
What was L&T’s profit in Q2 FY27?
₹5,202 crore, up 33%.
What is L&T’s order book?
About ₹8.5 lakh crore at 30 September 2026, up 28%.
How much did L&T win in Q2 FY27?
A record ₹1.48 lakh crore of orders, up 28%.
How much of L&T’s revenue is international?
About 58% in Q2 FY27.
Disclaimer: This article is for educational purposes only and is not investment advice or a recommendation to buy or sell any security. Price targets are scenario estimates based on the stated assumptions and may not materialise. Please consult a SEBI-registered investment adviser before making investment decisions.
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