Larsen & Toubro, an infrastructure major, announced the transfer of its realty business to L&T Realty Properties, a wholly-owned subsidiary.
This strategic move marks the beginning of a phased consolidation of all real estate assets and undertakings of L&T and vests them in L&T Realty.
L&T established its Realty BU in 2007 with a vision to convert owned land parcels into world-class residential and commercial developments. In 2011, the Company founded L&T Realty as a wholly-owned subsidiary, entrusting it with a mandate to develop both L&T land holdings and joint-venture opportunities with leading partners.
Over the years, L&T Realty has delivered premium residential, commercial and mixed-use developments across India’s most dynamic urban centres: Mumbai, Navi Mumbai, Bengaluru, NCR, Chennai and Hyderabad. Notably, it developed Seawoods, a Transit-Oriented Development (TOD), which set new benchmarks for integrated, future-forward urban design.
L&T Realty has now evolved beyond the development of L&T-owned lands; actively pursuing selective land acquisitions and marquee joint developments in urban micro-markets. Its carefully curated portfolio focusses on large, premium projects.
S N Subrahmanyan, Chairman & Managing Director, L&T, said, “L&T Realty needs to perform independently. It has to continuously expand its project pipeline through proactive land bank growth and joint developments. This requires periodic capital infusion, and therefore, it is essential to bring all our real estate operations under a singular corporate structure and bolster L&T Realty’s position as a unified brand for real estate. The proposed transfer is the first step in creating a consolidated powerhouse that can redefine the future of urban development in India. The integration of the Realty BU sets the foundation for L&T Realty to emerge as India’s most admired and sought-after real estate brand in the next five years. The strategy is anchored in deepening presence across major metros, sustaining premium and luxury brand positioning, pursuing disciplined land acquisitions, strengthening partnerships for joint developments and navigating market cycles with institutional rigour.”
