- L&T Realty’s projects in Mumbai have a development potential of 4.4 million square meters.
- This is also part of the company’s larger plan to bolster its presence in major metropolitan areas.
- The South Mumbai project was to be developed over a five-acre plot that offers clear views of the harbour.
Larsen & Toubro’s real estate development arm, L&T Realty, announced Monday that it will jointly develop projects worth ₹8,000 crore in various parts of Mumbai, including South Mumbai, western suburbs and Thane.
The projects – which have a development potential of 4.4 million square feet – would support L&T Realty’s geographic expansion in Mumbai. This is also part of the company’s larger plan to bolster its presence in major metropolitan areas by adding approximately five million square feet per year over the next five years.
“We are committed to expanding our reach and continuing to tap into new markets. With L&T Realty signature elements, these projects will have iconic features,” said Shrikant Joshi, MD and CEO of L&T Realty.
According to the company, the project would be developed in South Mumbai on a five-hectare plot with clear harbor views and good connections to all parts of Mumbai. This residential complex will have 50-storey twin towers with luxury amenities and shops.
Meanwhile, the company was set to develop a 20-tower residential complex in Andheri, which falls under the western suburbs. This would be L&T Realty’s first project in the region. The Thane project will be developed on a six-hectare plot, surrounded by social infrastructure and “spacious in-home amenities”.
L&T Realty has an extensive 70 million square foot portfolio — spanning Mumbai, Navi Mumbai, Bengaluru, Chennai, National Capital Region (NCR) and Hyderabad — in residential, commercial and retail developments.
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