Larsen & Toubro (L&T), a top engineering and construction firm, moved to unite its real estate work. It will shift its Realty BU to the fully owned unit L&T Realty. The deal uses a slump sale in a scheme of arrangement. It needs regulatory nods, L&T said in a filing last night.
The board greenlit the plan. It starts the build of one strong real estate group. “This transfer kicks off a united force to shape India’s city growth ahead,” said S. N. Subrahmanyan, L&T’s Chairman and Managing Director.
The firm wants all real estate under one roof. This builds a ready enterprise with more size, speed, and cash power. It fits India’s rising home market well.
Subrahmanyan said L&T Realty must stand alone. “It needs steady project growth via land buys and team-ups. That calls for fresh cash now and then. So we unite all real estate under one firm. This strengthens L&T Realty as the key real estate name.”
He added the merge will make L&T Realty India’s top real estate pick in five years. Key goals hit deeper roots in big cities. It keeps premium and luxury focus. It buys land with care. It grows partner deals. It handles market ups and downs with steady rules.
L&T started its Realty BU in 2007. The goal was to turn its land into fine homes and offices. In 2011, it launched L&T Realty as a full subsidiary. It handles L&T land plus deals with top partners.
The firm has finished high-end homes, offices, and mixed projects in key cities. These spots include Mumbai, Navi Mumbai, Bengaluru, NCR, Chennai, and Hyderabad. Seawoods stands out. It is India’s first big Transit-Oriented Development. It sets the bar for full city planning.