L&T Realty, the real-estate development arm of Larsen & Toubro, on Monday said it has entered into a binding agreement to jointly develop projects worth Rs 8,000 crore in different locations in Mumbai region.
The company plans to develop projects in South Mumbai, Western Suburbs and Thane. It targets to develop 4.4 million square feet of real estate projects. This is a part of the company's larger plan to strengthen its footprint in major metros by adding around 5 million sq. ft. per year over the next five years.
"We are committed to expanding our reach and continue looking into new markets. With signature elements from L&T Realty, these projects will have iconic features that are designed keeping in mind global norms of excellence while also being a testament for their trust on us with faster execution capabilities," Shrikant Joshi, MD & CEO, L&T Realty, said in a statement.
The South Mumbai project will be developed over a land parcel of five acres that offers clear harbour view along with good connectivity to all parts of Mumbai. This residential complex will have 50-storey twin towers with luxury amenities and retail.
The project in Western Suburb is set in a prime location of Andheri. This would be L&T Realty's first Project in Western Suburb and the company will develop a modern gated residential complex comprising 20 towers with a modern shopping complex. The project in Thane will be developed on a 6-acres land parcel in the heart of the city.
( With inputs from ANI )
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