L&T Realty, a real estate development arm backed by Larsen & Toubro (L&T), announced plans for market expansion in Mumbai. The company has signed three projects with a combined development potential of 4.4 million sq ft for ₹8,000 crores (approximately $1 billion) in prestigious areas, including South Mumbai, the Western Suburbs, and Thane. This project is a part of the company’s more important strategy to increase its footage in crucial metro areas by roughly 5 million sq ft annually over the following five years.
As per the regulatory filing, the South Mumbai project will be developed on a five-acre land parcel with a clear harbor view and good access to all parts of Mumbai. Twin towers of 50 stories each will house premium facilities and retail space in this residential complex.
The Western Suburb project, meanwhile, is situated in Andheri’s prime location. As its first project in the Western Suburb, L&T Realty will build a contemporary gated residential complex with 20 towers and a contemporary shopping complex.
In addition, a 6-acre land parcel in Thane will be developed as part of the project. These enormous residential towers will dominate Thane’s skyline since they are surrounded by an excellent social infrastructure and offer a range of amenities.
Shrikant Joshi, MD & CEO, L&T Realty, said, “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.”
