L&T Realty: Paving the Path for Independent Expansion

Larsen & Toubro (L&T) is transferring its realty business to L&T Realty Properties Ltd., marking the start of a phased consolidation of its real estate assets. This restructuring aims to establish L&T Realty as a singular corporate entity, facilitating growth and development in the real estate sector.

Larsen & Toubro (L&T) announced the transfer of its Realty Business Undertaking to its subsidiary, L&T Realty Properties Ltd., marking the commencement of a strategic consolidation process. The move is aimed at unifying all real estate assets under a singular corporate entity.

Approval was granted by the L&T Board through a scheme of arrangement known as a slump sale. This transfer, however, awaits the necessary regulatory endorsements.

Chairman & Managing Director S N Subrahmanyan emphasized the necessity for L&T Realty to operate independently, with periodic capital infusions to enhance its project pipeline and brand position within the real estate market.

(With inputs from agencies.)