L&T Realty, the real-estate development arm of Larsen & Toubro, has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with development potential of 4.4 million sq ft.
This is a part of company’s larger plan to strengthen its footprint in major metros by adding around 5 million sq. ft. per year over the next five years.
Shrikant Joshi, MD & CEO, L&T Realty said, “We are committed to expanding our reach and continue looking into new markets.”
The South Mumbai residential project will be developed over a land parcel of five acres and will have 50 storey twin towers. The residential project in Western Suburb is set in Andheri and will comprise of 20 towers with a shopping complex. The Thane project will be developed on a six acres land parcel.
L&T Realty has a portfolio spanning 70 million sq ft across residential, commercial and retail developments and is currently present in Mumbai, Navi Mumbai, Bengaluru, Chennai, and to some extent in NCR and Hyderabad.