This strategic move, subject to regulatory approval to, marks the beginning of a phased consolidation of all real estate assets and undertakings of L&T and vest them in L&T Realty, thus creating a unified entity capable of capitalising on India’s real estate growth.
The consolidation positions L&T Realty to lead this transformation with renewed scale and financial strength.
“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,” said S N Subrahmanyan, CMD,
L&T.
The proposed transfer, according to him, is the first step in creating a consolidated entity and the strategy is anchored in deepening presence across major metros, pursuing disciplined land acquisitions, strengthening partnerships for joint developments.
L&T established its realty business unit in 2007 to monetize its land parcels. In 2011, the company founded L&T Realty as a wholly-owned subsidiary with a mandate to develop both L&T land holdings and joint-venture opportunities with partners.
Over the years, L&T Realty has delivered residential, commercial and mixed-use
developments across Mumbai, Navi Mumbai, Bengaluru, NCR, Chennai and Hyderabad.
L&T Realty has now moved beyond the development of L&T-owned lands; actively pursuing selective land acquisitions and joint developments in urban micro-markets.
The company’s portfolio holds a development potential of 65 million sq ft spanning residential, commercial spaces and high-street retail developments.
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