L&T Realty Expands Presence in NCR with Major Land Acquisition
L&T Realty expands development portfolio with first land acquisition in NCR
Business Standard
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Larsen & Toubro's subsidiary, L&T Realty Properties Ltd, has acquired a 100% stake in International Green Scapes Ltd, unlocking 20 acres of land in Gurugram, Haryana, with a potential development area of 3.6 million square feet. This acquisition marks L&T's first foray into the National Capital Region, enhancing its real estate portfolio amid rising demand.
- 01L&T Realty Properties Ltd acquired a 100% stake in International Green Scapes Ltd.
- 02The acquisition includes 20 acres of land in Gurugram, Haryana.
- 03Development potential is estimated at 3.6 million square feet.
- 04L&T Realty is consolidating its real estate businesses to better capitalize on market opportunities.
- 05L&T shares rose by 1.62% following the announcement.
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Larsen & Toubro (L&T), a major infrastructure firm, announced that its subsidiary, L&T Realty Properties Ltd, has acquired a 100% stake in International Green Scapes Ltd (IGSL) for ₹1,123 crore (approximately $135 million USD). This acquisition unlocks 20 acres of prime land in Gurugram, Haryana, with a potential development area of 3.6 million square feet. This is L&T's first land acquisition in the National Capital Region (NCR), reflecting the company's strategy to enhance its real estate portfolio amid increasing demand for premium housing and commercial spaces in India's rapidly urbanizing cities. In the previous fiscal year, L&T Realty Properties and L&T Realty Developers Ltd completed land acquisitions totaling 3 million square feet across major cities like Mumbai, Delhi, and Bengaluru. Additionally, L&T is consolidating its real estate operations under a single entity, pending regulatory approvals, to strengthen its position in the booming real estate market driven by infrastructure growth and urban migration. Following this announcement, L&T's shares saw a 1.62% increase, trading at ₹4,079.00 on the Bombay Stock Exchange.
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This acquisition will contribute to the development of new housing and commercial projects in Gurugram, addressing the increasing demand for quality real estate in the region.
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