The big disappointments have come from (a) water segment, down 33% to USD2.5b, (b) buildings and factories, down 43% to USD2.3b (base had good order inflows from airports), and (c) heavy civil International order inflows in core E&C; have been quite strong in 9MFY20 to ~INR280b (+29%), on top of 30%+ growth witnessed in FY19. We note that execution rate in international orders are higher than domestic orders, especially given the strong inflows in the hydrocarbon segment. The phase includes the The contract won by L&T; Hydrocarbon is for the engineering, procurement, construction and commissioning (EPCC) of three Central Processing (CPF) facilities for the South West Gas project, located in the Adrar province.