L&T Realty Has Secured Contracts For a Total of USD 1 billion for Three Projects in MMR

The real estate development branch of Larsen & Toubro, known as L&T Realty, recently made an announcement on their expansion goals for the Mumbai real estate market in an effort to boost market expansion. A legally binding agreement has been struck by the company to construct joint projects in South Mumbai, western suburbs, and Thane. These projects have a combined development potential of 4.4 million square feet and would cost a combined total of 8,000 crore rupees. The company's goal is to strengthen its footprint in major metropolitan regions over the next five years by adding about 5 million square feet of space annually to its portfolio.

The Managing Director and Chief Executive Officer of L&T Realty, Shrikant Joshi, made the following statement: "With signature elements from L&T Realty, these projects will have iconic features that are designed with global standards of excellence in mind, while also serving as a testament to our clients' confidence in our faster execution capabilities."

The South Mumbai project is going to be built on a block of land that is five acres in size and provides an unobstructed view of the harbour in addition to a great connectivity to other parts of Mumbai. This residential development will consist of two buildings that are each 50 stories tall and will provide luxury amenities as well as retail space.

A favourable location has been found for the construction project in the Andheri neighborhood's western section. This would be the first project that L&T Realty undertakes in a western suburb, and it would include the construction of a residential complex that consists of 20 towers and a modern retail centre.

The Thane project will be built in the central part of the city on a piece of land that is six acres in size. These high-rise residential structures will dominate the skyline of Thane since they are surrounded by a powerful social infrastructure and offer an abundance of on-site services. Additionally, these buildings will be situated in a location that is easily accessible by public transportation.

With a portfolio that spans 70 million square feet and consists of residential, commercial, and retail complexes, L&T Realty is presently active in the cities of Mumbai, Navi Mumbai, Bengaluru, and Chennai. To a lesser extent, they are also present in NCR and Hyderabad.