News and Media

L&T Realty set to co-develop a major project in Mumbai’s Bandra-Kurla Complex (BKC)

L&TRealtyOnline — Mon, 18 Nov 2024 05:00:00 GMT

November 8, 2024: Buoyed by regulatory overhaul and infrastructure boom, Larsen & Toubro (L&T) has identified realty business as one of its growth engines for the next 10 years and plans to acquire land parcels while expanding pre-sales. It is looking for something in the range of 50-60 acres, mostly in Bangalore and NCR. L&T Realty has signed a binding agreement with Valor Estate (formerly DB Realty) to co-develop a major project worth over Rs 20,000 crore on a 10-acre land parcel in Mumbai’s Bandra-Kurla Complex (BKC). The project will feature a mix of premium housing, commercial spaces, and five-star luxury hotel which boasts 1,000 rooms. This mixed-use development, situated next to the upcoming Bombay High Court complex, has a total development potential of over 7.5 million square feet. The 10-acre plot is part of a larger 13-acre area, currently home to approximately 5,500 families living in slums. These families will be rehabilitated as part of the development. Valor Estate is tasked with vacating the land and obtaining necessary development approvals, expected to take 12-18 months. The entire project, including rehabilitation, is projected to be completed within 5-6 years. About 3.2 million square feet of land will be under rehabilitation, as part of the development project. Approximately 3.75 million square feet of land will be designated as the free-sale component, a portion of the development project that can be sold or leased at market rates by the developer. Out of this, 1.5 million square feet will be used to develop a luxury hotel, and 2.25 million square feet will be allocated for commercial, retail, and premium housing projects. Source: Construction Week article

With a regulatory overhaul, infra boom, L&T plans to bet big on realty

L&TRealtyOnline — Mon, 07 Oct 2024 04:00:00 GMT

Engineering conglomerate Larsen & Toubro (L&T) has identified the realty business, its only B2C business, as one of its growth engines, with plans to acquire land parcels and expand pre-sales multifold, said a senior company executive. “L&T looks at businesses which have growth potential and alignment to the larger organisation. Whichever area L&T sees growth for the next 10 years, impetus is on that. That is how realty has been recognised as one of the major growth businesses for the company,” said Anupam Kumar, managing director and chief executive officer of L&T Realty , in an interaction with Business Standard. The engineering conglomerate entered this segment in 2010, predominantly relying on its existing land parcels. Kumar adds that this historic land bank will soon start to diminish. “The real estate journey initially started with the monetisation of our land bank, which arose due to the relocation of factories from cities. Since the land bank is limited, it will get exhausted in a few years,” he said, adding that to scale up the business, L&T Realty has started looking to acquire land parcels and partnership development opportunities across markets. “We are making some strides in that direction, albeit cautiously. We are looking for something in the range of 50-60 acres, mostly in Bangalore and NCR,” Kumar noted. At present, L&T Realty has a portfolio of 61 million square feet (SQFT) at various stages of development. Kumar now plans to add close to 25-30 million SQFT every year, “growing which can give pre-sales of Rs 30,000 to Rs 40,000 crore a year,” he said. The preference, Kumar stated, is not affordable housing, but premium and affluent housing segments. In terms of fundraising, Kumar added that the company keeps looking for opportunities to lease or monetise commercial development profitably. He ruled out any plans for a real estate investment trust (REIT). In the past, L&T developed its IT business and later listed them as separate entities on the exchanges. On similar plans for the realty business, Kumar said, “We are concentrating on building project pipelines for accelerated growth of the business. Of course, when the business attains the right size, the option of listing to raise growth capital will be considered, but I cannot indicate when. At the moment, the focus is on growth.” The conglomerate L&T clubs its real estate segment under "others" while reporting its financial results. For FY24, the others segment reported net revenue of Rs 7,630 crore and Ebitda of Rs 1,618 crore. Ebitda is earnings before interest, depreciation, and amortisation. Kumar noted that the real estate business' current annual revenue is in the range of half a billion dollars (roughly Rs 4,200 crore in rupee terms). At the consolidated level, L&T is executing India’s largest order book, valued at Rs 4.9 trillion as of June. This appears to have both set targets and provided opportunities for its realty vertical. Kumar said, “L&T is number one in most of the verticals it operates in. The realty business in L&T can be sizable and be among the top players, given the steep market growth opportunities.” Further, Kumar does not expect the historical cyclicality of the realty sector to return in the near future, “especially with urbanisation and the infrastructure drive being accelerated by the governments,” he said. In addition, the realty division looks to develop projects close to these transport infrastructure hubs “so that customers have a good mobility choice,” Kumar said Kumar believes the time is right for corporates like L&T, as “the regulatory ecosystem changes like GST and RERA have cleaned the sector substantially, leading to consolidation. Smaller and unorganised players have largely vanished, making the sector attractive for corporates like us.”

L&T Realty conferred with two honours at the Golden Brick Awards 2024

L&TRealtyOnline — Tue, 09 Jul 2024 04:00:00 GMT

Dubai, 29th June 2024: L&T Realty has recently been presented with the following honours at The Golden Brick Awards 2024 held at Hotel Marriott Al-Jaddaf, Dubai.

Developer of the Year – L&T Realty
Outstanding Project of the Year – Elixir Reserve

The awards were received by Mr. Sanjay Mehrotra (National Head – Sales, Marketing & CRM) and Mr. Jinesh Doshi (Deputy General Manager – International Sales, Dubai) and were presented by His Excellency Yaqoob Al Ali, Her Excellency Aarefa Al Falahi, Ms. Saria Al Khair (Educational Consultant MEA) and Dr. Mustafa Saasa (CMD of Raj Group of Companies, UAE)

L&T Innovation Campus at Powai: The Building that speaks

L&TRealtyOnline — Mon, 08 Jul 2024 04:00:00 GMT

“In a world where technology reshapes how we work, the most vital aspect in commercial real estate is not just bricks and mortar—it is understanding the evolving needs of tomorrow’s workforce. From flexible work arrangements to sustainable design solutions, anticipating and meeting these demands is paramount. By aligning our strategies with the aspirations of the modern workforce, we ensure our properties remain indispensable in the years to come.” —Anupam Kumar, CEO & MD of L&T Realty Ltd. 26th June 2024: As the corporate world evolves, so do the spaces where innovation thrives. L&T Realty is proud to introduce the upcoming L&T Innovation Campus in Powai, a project designed to redefine the office space experience. A whole new world of possibilities opens with the Innovation Campus. Built at a strategic location, the landmark project spreads across five acres of land. Close to 2.2 million sq. ft, it would house premium office spaces. At the greenest part of Powai, Mumbai, the L&T Innovation Campus offers unparalleled connectivity for modern professionals. The campus is strategically located near the international airport, ensuring swift access for global businesses and executives. Additionally, its proximity to the upcoming metro facilitates convenient commuting for employees from across the city. Equidistant from the Eastern and Western Expressways, the campus ensures smooth accessibility for commuters and can take your business to places. Innovation Campus is part of an integrated development that’s home to residential, upcoming premium high-street retail and commercial spaces. It is indeed an innovative way to work, live, play and learn.

A Complete Campus Ecosystem

The L&T Innovation Campus at Powai stands as a vibrant nucleus, transcending its role as merely a workspace to become a thriving ecosystem that enriches every facet of life within its boundaries. It embodies a unique walk-to work culture, with an array of over 3,000 premium apartments comprising Emerald Isle and Elixir Reserve, seamlessly integrating living spaces with professional environments. Situated at the epicenter of a bustling commercial hub, the campus is surrounded by renowned Fortune 500 companies, fostering an atmosphere of innovation, networking and collaboration. The upcoming Elixir Drive promises to be a premium high-street retail destination, complementing the already established retail and F&B centre in the vicinity. Moreover, the inclusion of an international school and sports arena further enhances the holistic experience within this dynamic ecosystem. Nature’s embrace is woven into the fabric of this campus, with lush greens, towering trees, and majestic mountains enveloping the region, creating a harmonious blend of modernity and natural beauty. The awe-inspiring view of Powai Lake and the melodious chirping of diverse bird species add an extra layer of delight to the work life of every employee fortunate enough to be a part of the L&T Innovation Campus.

Sustainability To The Core

The Innovation Campus, Powai is Grade-A Platinum-rated office building, and a testament to modern architectural excellence coupled AI features with a deep commitment to environmental responsibility. This iconic structure not only embodies cutting-edge design but also sets a new standard for environmental, social, and governance (ESG) capabilities in the corporate world. Sustainability lies at the core of this modern marvel. From its inception, every aspect of the building’s design and construction has been meticulously planned to minimize environmental impact. Energy-efficient systems, such as solar panels and smart lighting reduce the building’s carbon footprint significantly. Water conservation measures, including rainwater harvesting and efficient plumbing fixtures, further contribute to its sustainable operations. The interior spaces are designed to maximize natural light and ventilation, creating a healthy and productive work environment. Additionally, the building promotes eco-friendly commuting options, with its proximity to public transportation hubs, encouraging employees to reduce their carbon emissions. In conclusion, The L&T Innovation Campus in Powai is not just a workplace; it’s a visionary ecosystem that intertwines innovation, sustainability, and well-being. From its strategic location with unparalleled connectivity to its integrated development approach blending residential, retail, and commercial spaces, the campus embodies the future of urban living and working. Its Grade-A Platinum LEED rating and commitment to ESG principles showcase a dedication to environmental responsibility and corporate excellence. As a vibrant nucleus in a bustling commercial hub, the Innovation Campus offers a dynamic environment for collaboration, creativity, and growth, making it a prime destination for modern professionals and businesses looking to thrive in a sustainable and forward-thinking community. (Source: Economic Times Commercial Real Estate Review 2024, 26th June 2024)

L&T Realty Raintree Boulevard Awarded the title of “Mixed-Use Project of the Year”

L&TRealtyOnline — Thu, 21 Dec 2023 05:00:00 GMT

Bengaluru, 14th December 2023: We are delighted to share that L&T Realty Raintree Boulevardhas been awarded with the title of Best Mixed-Use Development in the entirety of Southern India by Realty Plus. Heartfelt congratulations and commendations to all our teams for their unwavering commitment to delivering landmarks of excellence.

L&T recognised as Company with Great Managers

L&TRealtyOnline — Thu, 21 Dec 2023 05:00:00 GMT

Mumbai, 15th December 2023: L&T has been recognised as a Company with Great Managers 2023 for the third time in a row. Conferred by Global HR Consulting firm – People Business – it is a coveted recognition that as many as 175 companies vied for this year. The Economic Times was the media partner for the event Dr C Jayakumar (EVP & Head – Corporate HR), along with his colleagues, received the award at a glittering ceremony hosted in Mumbai on 12 December. “L&T takes pride in building the best projects for our nation and at the same time, building the best talent with skills for tomorrow. People are our greatest assets and 80 years on, this philosophy has remained one of the core principles and pillars of HR practices. This recognition makes our path of committing to nurturing leaders at L&T even more exciting, and we look forward to contributing towards building a greater nation,” he said on accepting the award. Each year, People Business recognises 50 companies as ‘Companies with Great Managers’ and 100 managers as ‘Great Managers’. The selection is based on employee feedback that the People Business team collects through the Great Manager Award Survey. This year, they have received over 5000 applications from which we saw four people managers from L&T clinching the honour of being in the Top 100 Great Managers. They include Ms Lakshmi M (DGM - Accounts, B&F) Mr Aneesh SV (Sr DGM – Mechanical, Heavy Civil Infra) and Mr Kalaiyarasan T (DGM – Civil, Heavy Civil Infra) and Mr Ankur Jadhav (JGM – Projects, L&T Realty).

L&T Realty Crescent Bay adjudged as the “High Rise Project of the Year”

L&TRealtyOnline — Wed, 20 Dec 2023 05:00:00 GMT

Mumbai, 15th December 2023: It’s our pleasure to share with you all that Crescent Bay, Mumbai has been adjudged as the “High Rise Project of the Year” at the CREDAI-MCHI Golden Pillar Awards at JIO World Convention Center., Mumbai. CREDAI-MCHI Golden Pillar Awards aims to honour exceptional individuals and organization for their contribution to the real estate sector and is the largest and most coveted recognition. The evaluation process for the Golden Pillar Awards was handled by Ernst and Young and the jury panel consisted of industry experts. Each nomination was judged on a pre-defined criteria of design, technical, excellence and key project features. CREDAI-MCHI Golden Pillar Award High Rise Project of the Year for our iconic project Crescent Bay recognises our commitment to excellence, innovation and delivering exceptional value to our clients.

Current L&T Realty CEO Anupam Kumar: Real Estate Leadership Update

L&TRealtyOnline — Tue, 12 Dec 2023 05:00:00 GMT

Mumbai, April 1, 2024, Management is pleased to announce the appointment of Mr. Anupam Kumar, as CEO & MD of L&T Realty Limited, with effect from 1st April 2024. Mr. Anupam Kumar will report to the undersigned and will continue to operate from Mumbai. Management wishes Mr. Anupam Kumar all success and is confident that he will continue to provide leadership for profitable growth. With his strategic vision, and history of success in project management, business development, and operational excellence, he is well-suited to lead L&T Realty into the future.

L&T Realty witnesses complete sell-out of Phase-1 of its first residential project in Manapakkam, Chennai

L&TRealtyOnline — Thu, 16 Nov 2023 05:00:00 GMT

CHENNAI, SEPTEMBER 15, 2023: L&T Realty, the real estate arm of Larsen & Toubro, has announced a complete sell-out of the Phase-1 of Avinya Enclave – its first residential project in Manapakkam, Chennai.

Avinya Enclave is a premium development spread over seven acres and its first phase consists of four towers, 500 apartments which are a mix of 2, 3 and 4-BHK homes. Replete with the state-of-the-art amenities and facilities, the price of the apartment here starts from Rs 90 lakh. The project was launched on September 9th, 2023 and it received overwhelming responses from the customers. Based on the concept of live, work and play, Avinya Enclave has been conceived as the residential component of the upcoming L&T Innovation Campus – a 40-acre mixed development project – which is going to be the workplace for over 50,000 professionals.

A Spectacular Architectural Masterpiece: L&T Realty Presents the Ultimate Residential Paradise in South Mumbai With Crescent Bay, Parel

L&TRealtyOnline — Thu, 16 Nov 2023 05:00:00 GMT

Most people will rarely imagine urban living in a super-busy, chaotic and crowded metropolitan city like Mumbai to rank high on factors such as comfort, convenience, luxury, and more importantly, space. Often, all these elements are considered to be mutually exclusive. But India’s prominent real estate developer L&T Realty endeavours to change this scenario through Crescent Bay Parel, an ultra-luxurious residential project based in the coveted South Mumbai region. This property, comprising six towers that together resemble the shape of a crescent moon, boasts extraordinary architecture that simply stands out against the city’s vast skyline. L&T Realty was conceptualised in 2011 as the real estate arm of Larsen & Toubro Limited, a reputed global conglomerate which is at the forefront of various industry verticals including construction, information technology, financial services, among others. Till date, the company has developed an array of residential, retail, and commercial properties in Mumbai, Navi Mumbai, NCR, Chennai, Bengaluru, and Hyderabad - spread across a whopping 70 million square feet area. The top builder relies on their construction expertise, advanced technologies, and digitisation to create outstanding architectural marvels like Crescent Bay, which give a whole new definition to modern city living. Crescent Bay is among the most premium residential properties by L&T Realty, offering diverse configurations of luxury homes like 2 BHK, 3 BHK, and 4 BHK apartments across the six high-rises that make up this impressive gated community. These exquisitely crafted flats let their inhabitants behold uninterrupted views of the western and eastern horizon, ensuring a lifetime’s worth of panoramic sights. The project is laden with numerous amenities for its residents to utilise or indulge in - from a sky street and elevated jogging track on the 21st floor, amphitheatre, multipurpose halls, tennis/squash/badminton courts to an exclusive gymnasium, swimming pool, spa and jacuzzi, business centre, convenience store, mini theatre, and a lot more. So be it leisurely, recreational or essential needs, residents can fulfil every type of requirement at a single destination that they can proudly call their abode. The tastefully designed ready-to-move-in homes at Crescent Bay are equipped with a variety of high-end features - air-conditioners in the living room and bedrooms, premium bathroom fittings, imported marble flooring in the living area and passage, laminated wooden flooring in the master bedroom, etc. Every feature and amenity is thoughtfully curated so as to befit a contemporary lifestyle brimming with endless conveniences. Moreover, the Signature Tower (T6) offers 3 BHK flats and 4 BHK palatial suites, for discerning individuals on the hunt for large homes accurately matching their stature. These apartments further boast exclusive features like a sun deck, walk-in wardrobe, modular kitchen, and more. Crescent Bay is placed in a strategic location that is well-connected to different parts of the city through a network of important highways and the upcoming Sewri-Nhava Sheva Trans Harbour Link Road. All these factors combined leave absolutely no room for doubt that Crescent Bay, Parel, is one of the finest residential addresses in all of South Mumbai. Every other luxurious offering aside, the thing that truly makes L&T Realty’s Crescent Bay a residential haven is the loving community of like-minded, influential individuals it houses. The neighbourhood matters a great deal, for one can experience real joy and peace of mind only when they live in a home where they feel a genuine sense of belonging to the fellow residents of their building or society. At Crescent Bay, Parel, the walls might separate houses but they definitely don’t separate people’s hearts! The spirit of harmony flourishes without abandon in this gated community, which has been witnessed regularly when the residents have come together to celebrate festivals like Diwali, Christmas, Lohri, etc. and proudly flaunted their patriotic fervour during Republic day. During the recent FIFA World Cup, Crescent Bay residents collectively bonded over their shared love of football, when a special screening was organised for all residents in the amphitheatre. So, whether it is their die-hard craze for sports or having fun letting their hair down during Garba in Navratri, this urban paradise is a place where endless celebrations come to life in total splendour, that is a proper reflection of L&T Realty’s iconic legacy. Life at Crescent Bay, Parel, is replete with delightful surprises and unforgettable memories that will stay with the residents for many years to come. This is an address where harmonious living and a luxurious lifestyle are synonymous to each other; an abode where trust and community go hand-in-hand. Embrace a new, powerful way of living in Mumbai with 2, 3, or 4 BHK luxury residences at L&T Realty’s Crescent Bay - featuring remarkable architecture, superior connectivity, lavish amenities - and most importantly - a wonderful community of sophisticated residents. Original source: Crescent Bay PR