Larsen & Toubro grabs Rs 1981 crore housing contracts
The major real estate firm won contracts worth Rs. 1,981 crore in housing sector including major order in Bangalore.
The company says that the building and factory business of L&T has grabbed the housing order of value Rs. 1,981 crore in March 2014.
A main residential order is taken up in Bangalore from one of South India’s leading property dealers. This order is the biggest residential order of this year.
The work in this project consists of the development of 24 towers and 271 villas. The towers will consist of two basements and a ground floor with levels varying from 18 to 29 floors.
The project is planned to be completed within 42 months. The order consists of the development of residential township in Gujarat with 134 housing units on turnkey basis.
Mr. S N Subrahmanyan, senior executive vice president of the infrastructure division and member of board at L&T, say that the main focus areas have been increasing the potential in the residential sector and by grabbing this project they have taken a step ahead in this field.
The buildings and factories division of the company helps to design and development of residential structure including high rise towers, airports, factories and other structures.
Recently the shares of L&T were trading at Rs1291.90 apiece on the BSE with the increase of 1.31 percent from the previous close at BSE.
Source: NDTV Profit
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