L&T Realty, the real-estate development arm of Larsen & Toubro, on Monday (18 July), announced its expansion plans in Mumbai.
The company has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with a development potential of 4.4 million square feet.
“This is a part of the company’s larger plan to strengthen its footprint in major metros by adding around five million square ft. per year over the next five years,” L&T Realty said.
“We are committed to expanding our reach and continue looking into new markets. With signature elements from L&T Realty, these projects will have iconic features that are designed keeping in mind global norms of excellence while also being a testament to their trust in us with faster execution capabilities,” Shrikant Joshi, MD and CEO, L&T Realty, said.
The South Mumbai project will be developed over a land parcel of five acres that offers a clear harbour view and good connectivity to all parts of Mumbai. This residential complex will have 50-storey twin towers with luxury amenities and retail.
The project in Western Suburb is set in a prime location of Andheri. This project would be L&T Realty’s first Project in Western Suburb, and the company will develop a modern gated residential complex comprising 20 towers with a modern shopping complex.
The Thane project will be developed on a six-acre land parcel in the city’s centre.
“Surrounded by good social infrastructure and with ample amenities in-house, these high-rise residential towers will stand tall in the skyline of Thane,” the company said.
“L&T Realty has an extensive portfolio spanning 70 million square feet across Residential, Commercial and Retail developments and is currently present in Mumbai, Navi Mumbai, Bengaluru, Chennai, and to some extent in NCR and Hyderabad,” it added.