Tendering activity in November 2020 rose 27% y-o-y on a low base but was down 2% m-o-m, with a total value of Rs 600 bn — in FY19, the average monthly rate of tender value was Rs 765 bn, which came down to around Rs 480 bn after FY19.
Excluding the orders won by L&T, awarding activity in the month, in value terms, was down 42% y-o-y and 13% m-o-m.
The total awards stood at Rs 164 bn vs a monthly rate of Rs 282 bn in FY19 and Rs 158 bn since then.