L&T in the June quarter reported a 20.5% growth in net profits to Rs.1361 crore while total revenues for the quarter were up by 10% at Rs.29,636 crore. Out of the total revenues reported by L&T, nearly 31% revenues came from its international operations. The company continues to have a record order book position with Rs.39,000 crore worth of fresh orders coming during the quarter. International orders constituted 28% of its total order flow and its total order book stood at Rs.2,20,000 crore as of June 30th.

L&T has benefited from higher investments in the infrastructure and the oil & gas space globally and that has led to a surge in international orders. The stock has corrected nearly 15% from its recent peak levels and this quarter results should act as a support for the stock. You can look to gradually accumulate the stock in a phased manner. There is margin of safety at current prices.