L&T Heavy Engineering Secures Global Orders, Delivers World’s Largest FCC Reactor and Key Process Equipment Across 5 Continents

L&T Heavy Engineering, the hi-tech manufacturing arm of Larsen & Toubro, has secured a series of international orders across Asia, Africa, North America, South America and Europe, reinforcing its position as a global leader in process plant equipment.

The business has secured orders from Africa’s largest industrial conglomerate, Dangote Group, for a mega refinery and multi-train fertiliser expansion projects in Nigeria and Ethiopia. The scope includes the supply of critical process equipment, comprising the world’s largest Fluid Catalytic Cracking Reactor Regenerator Package, all critical urea and ammonia equipment.

Additionally, the business has won a repeat order from a Japanese customer for the manufacture and supply of Heat Exchangers and Absorbers for an LNG project in Canada. The business has also secured orders for its core equipment including Coke Drums, Fractionator Columns and Heat Exchangers from customers in Spain, US and Brazil.

Commenting on this, Anil Parab, Whole-time Director & Sr Executive Vice President - Manufacturing, L&T) said: “These orders reaffirm the trust and confidence that customers place in L&T’s world-class manufacturing capabilities and its consistent track record of delivering high-quality process equipment to global clients”.

HCLTech Announces AI Data Center in Bhubaneswar in Partnership with Sarvam and Govt of Odisha

Representative Image

• The investment will accelerate India’s sovereign AI and data ecosystem

Further to the announcement dated July 13, 2026, relating to its proposed entry into the full-stack AI market, HCLTech, a global technology company, today said that it plans to set-up its first AI Data Center in the upcoming Odisha Sovereign AI Park.

The AI Data Center will be established in partnership with Sarvam and the Government of Odisha. The planned capital outlay for the project will be Rs 14,257 crores, including financial assistance from the Government of Odisha.

This investment will boost India’s sovereign AI play and local developer ecosystem by leveraging HCLTech’s full-stack AI capabilities and Sarvam’s foundation models to offer sector-specific AI applications to private and public sector enterprises and address the government’s sovereignty needs. It will also contribute to delivery of multi-lingual AI based services to the last mile, in line with Hon’ble Prime Minister Sh. Narendra Modi’s clarion call of AI for the benefit of everyone.

A Memorandum of Understanding to this effect was signed between HCLTech, Government of Odisha and Sarvam in the presence of the Hon’ble Chief Minister of Odisha, Sh. Mohan Charan Majhi; Dr Mukesh Mahaling, Hon’ble Minister of Electronics and IT, Government of Odisha; Roshni Nadar Malhotra, Chairperson, HCLTech; C Vijayakumar, CEO & MD, HCLTech and Pratyush Kumar, Co-Founder of Sarvam.

Roshni Nadar Malhotra, Chairperson, HCLTech commented, “HCLTech has been a flagbearer of India’s technology industry. In line with the Digital India and Atmanirbhar Bharat vision of Hon’ble Prime Minister Sh. Narendra Modi, we strive to be an enabler of India's sovereign AI ecosystem with differentiated offerings across the value chain through focused investments and partnerships. We are pleased to start this endeavor in partnership with Odisha government and Sarvam.”

“This is an important milestone in our full-stack AI play and will enable us to serve the large demand for sovereign AI solutions and unlock the scale of our strategic partnership with Sarvam. Odisha offers a progressive policy environment backed by excellent infrastructure and we look forward to working with them in collaboration with Sarvam, added C Vijayakumar, CEO & Managing Director, HCLTech.

According to Pratyush Kumar, Co-Founder, Sarvam, “The Odisha Sovereign AI Park will connect high-performance compute with Indian models and real-world applications. Together with HCLTech, we are excited to bring Sarvam’s full-stack AI capabilities to enterprises and public systems at scale.”

India is among the fastest growing technology markets globally and a growth market for HCLTech. The country’s data center ecosystem is on a rapid growth trajectory, driven by strong demand from a vibrant digital economy, data localization and critical infrastructure needs to support GPU deployments for AI training and inference workloads.

HCLTech to Establish Global Technology Center in Bhubaneswar

• The facility will house 5,000 people and boost the local technology ecosystem in the state

HCLTech, a leading global technology company, today signed a Memorandum of Understanding with the Government of Odisha to set up a world-class Global Technology Center in Bhubaneswar to innovate and deliver AI-led digital solutions to global enterprises.

The Technology Center will complement HCLTech’s proposed AI Data Center in the upcoming Odisha Sovereign AI Park. The Technology Center will house 5,000 people and is expected to start operations by 2028.

HCLTech’s investment will not only contribute to direct and indirect employment but also boost the local talent ecosystem with focus on next-generation skills. Towards this, HCLTech plans to engage deeply with local educational institutions and the government through structured interventions.

Rahul Singh, COO – Corporate Functions, HCLTech said, “At HCLTech, through our New Vistas initiative, we are focused on expanding our presence across India to bring opportunities closer to where the talent is. Odisha offers a great mix of quality infrastructure and vibrant talent pool, and we look forward to developing Bhubaneshwar as one of our key global innovation and delivery hubs.”

Shri Vishal Kumar Dev, IAS, Additional Chief Secretary, Government of Odisha said, “We welcome HCLTech’s decision to establish their footprint in Odisha. Their presence will further embellish Bhubaneshwar’s status as one of India’s most promising technology hubs.”

In India, HCLTech employs 170,000+ people across its technology campuses and centers in Noida, Bengaluru, Chennai, Hyderabad, Pune, Lucknow, Nagpur, Madurai, Vijayawada and GIFT City.

About HCLTech

HCLTech is a global technology company, home to more than 223,000 people across 60 countries, delivering industry-leading capabilities centered around AI, digital, engineering, cloud and software, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology & Services, Semiconductor, Telecom and Media, Retail and CPG, Mobility and Public Services. Consolidated revenues as of 12 months ending June 2026 totaled $14.8 billion. To learn how we can supercharge progress for you, visit hcltech.com.

Groww Foundation to Support Over 100 Student Startup Teams Annually, Unveils Ist Cohort

Groww Foundation, the philanthropic arm of Groww, today announced the first cohort of the INV.ENT program, backing 19 ideas by 35 young innovators at the Indian Institute of Technology Bombay (IIT Bombay). The grants are the entry point of a program that will support over 100 student teams a year, with the strongest ones rewarded the Grand Challenge Fellowship with its larger, milestone-based support.

Chosen from nearly 400 submissions across disciplines, the ideas stretch across agri-tech, robotics, climate-tech, assistive-tech, retail, design, edtech, gaming and defence, several leveraging AI and ML to tackle the hitherto unsolved problems. The full portfolio of the selected ideas is at: growwfoundationiitb.org/portfolio

Across the cohort, the winning ideas range across a marketplace that takes ceramics from Dharavi's potters to customers, a wearable sleeve that coaches physiotherapy patients through their exercises, a platform that turns CO2 into edible protein and an AI system built to guard critical infrastructure against rogue drones.

The first cohort spans the program's two tracks. 3 student teams have been named the program's inaugural Grand Challenge Fellows and are eligible for milestone-based annual support of up to Rs 25 lakh each. The 16 remaining student teams enter the POC Support Track with a catalytic grant of Rs 30,000 each.

On top of the grant, this cohort will receive mentoring and a 15,000 sqft dedicated space, called Groww Innovation Space, located at IIT Bombay's Desai Sethi School of Entrepreneurship (DSSE). This space will be used to build, test a core assumption, speak to real users and assemble a prototype, thereby allowing a steady influx of new ideas from students into this ongoing program that doesn't come with a submission deadline - just a commitment to fostering fearless innovation.

"At Groww Foundation, our mission since day zero has been to empower India's youth with opportunities to learn, build and innovate. INV.ENT is a program born out of that belief," said Kalpana Swaminathan, Head of Groww Foundation. "We see this as a launchpad, the place where young innovators get the mentorship, financial support and trust to take their first real shot, long before the world is watching. We're excited to work closely with this cohort of innovators as they turn their conviction into something real, and we hope to look back one day and call this the starting point for some of India's most impactful builders."

Reflecting on what the first INV.ENT cohort represents for student innovation at IIT Bombay, Prof. Shireesh Kedare, Director, IIT Bombay, said, "At IIT Bombay, we believe that the distance between an idea and its impact is often determined by whether someone believes in it early enough. Our partnership with Groww Foundation through INV.ENT is built on that shared conviction. Young innovators deserve the freedom, resources, and encouragement to test bold ideas before the world expects results. Together, we are creating an ecosystem where students do not have to wait for permission to build. They can test, fail, learn, and move forward. That is how enduring innovation ecosystems are built."

Mukund and the Team BeBrust, one of the winning teams, shared, "The overall experience of selection has been really helpful in improving our clarity. We understood the caliber of the team. We are now more confident in the innovation of our idea and in our mission, opportunity, and ability to perceive and experiment. We are looking forward to getting a bigger network and being at least one year ahead of our plan."

Dalmia Bharat Delivers 9% Volume Growth, Expands Capacity to 54.7 MnTPA Despite Cost Headwinds

Strong Performance despite Challenging Environment

Integration on Track for Acquired 5.2 MnTPA Cement Assets in Central Region

Key Highlights

• Installed cement capacity increased to 54.7 MnTPA with successful acquisition of 5.2 MnTPA capacity in Central Region
• Commercial production commenced at Chunar Grinding Unit in June; Trial run started at Rewa Clinker Unit in July
• Sales volume improved 9% YoY to 7.6 MnT
• Revenues from operations increased 7% YoY to Rs 3,890 Cr
• EBITDA per ton improved sequentially to Rs 1,055; EBITDA stood at Rs 805 Cr

Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ended Jun 30, 2026.

Financial Highlights for the Quarter ended Jun 30, 2026

Particulars	Q1FY27	Q1FY26	YoY
Sales Volume (MnT)	7.6	7.0	9.0%
Revenue from Operations	3,890	3,636	7.0%
EBITDA	805	883	(8.8%)
EBITDA/T (Rs/T)	1,055	1,261	(16.4%)
PBT (before exceptional items)	436	502	(13.1%)
Exceptional items	(182)	16
PBT	254	518	(51.0%)
PAT	192	395	(51.4%)
Net Debt to EBITDA (x)	1.47x	0.33x

Exceptional items in Q1 FY27 primarily includes acquisition-related costs pursuant to Central cement assets

This quarter marks an important milestone with the acquisition of cement assets in the Central region, as we move firmly towards our aspiration of becoming a pan-India player. Our earlier association with these assets and the markets provides us a great head start. As we look ahead, our endeavour will be swift ramp up and embedding Dalmia’s cost leadership practices to unlock superior returns.

— Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited

Despite temporary disruptions owing to state elections, we delivered a robust volume growth of 9% on a YoY basis. Supported by healthy price increases and focused initiatives across the business, we were able to offset the cost escalation meaningfully and deliver a robust EBITDA of Rs 1,055 per ton.

— Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited

Key updates

• Completed the acquisition of Jaiprakash Associates' cement undertaking, adding 5.2 MnTPA of cement capacity and 3.3 MnTPA of clinker capacity across four strategically located plants in Madhya Pradesh and Uttar Pradesh, at an EV of Rs 2,850 Cr.
• Successfully commenced commercial production at 2.5 MnTPA Chunar Grinding Unit on June 20, 2026; Trial run started at the 3.3 MnTPA Rewa Clinker Unit in July.
• Entered into Share Subscription and Shareholders’ Agreement and a Power Consumption Agreement to acquire 41% stake (26% on fully-diluted basis) in Oyster Green Hybrid Five Private Limited, an SPV of Oyster Renewable Energy Private Limited, in one or more tranches, at an aggregate consideration of approx. Rs. 17 Cr, to source Hybrid Power (Wind & Solar) as a captive consumer for its Kadapa plant.

Key Recognitions during the quarter

• CII-ITC Sustainability Award – DBL commended for ‘Significant Achievement’ in Manufacturing sector under Excellence for Corporate Social Responsibility
• FAME India Awards 2026 – Multiple Awards by various units (JCW, KCW, GCW and Umrangso) on Excellence in Health & Safety, Environment, Sustainability and CSR
• Kalinga Environment Excellence Award – 5 Star award for Excellence in Environment stewardship, Operational Excellence and Sustainable Growth to Rajgangpur and Gold category to KCW Unit in social impact, sustainable development & positive change in communities

About Dalmia Bharat:

Founded in 1939, Dalmia Bharat Limited (BSE/NSE Symbol: DALBHARAT) is one of India’s pioneering cement companies headquartered in New Delhi. With a growing capacity, currently pegged at 54.7 MnT, Dalmia Bharat Limited (including its subsidiaries) is the fourth-largest cement manufacturing company in India by installed capacity. Spread across 12 states and 19 manufacturing units, Dalmia Bharat Limited prides itself at having one of the lowest carbon footprints in the cement industry globally. It is the first cement company to commit to RE100, EP100 & EV100 (first triple joiner) – showing real business leadership in the clean energy transition by taking a joined-up approach. Visit us at https://www.dalmiacement.com.