L&T infrastructure and real estate will merge
The engineering and construction conglomerate Larsen & Toubro may merge its property development and real estate units as part of a business realignment strategy.
According to L&T official, the L&T Urban Infrastructure will now be merged with L&T Realty, which in turn will manage the real estate business for the company. L&T Realty is strengthening its real estate team and has increased focus on the segment.
L&T owns 75% stake in L&T Urban Infrastructure, which builds residential and commercial infrastructure facilities, including IT parks. L&T Realty is its wholly owned subsidiary.
As part of the consolidation process, L&T Realty will take over projects that are currently being executed by L&T Urban Infrastructure.
L&T has constructed several real estate projects in India and are in the process of execution of many realty projects in these days.
To read more real estate stories:
Rising property prices have reduced the demand
Invest in real estate for high returns
Source: Steelguru
L&T Realty, Larsen & Toubro, Properties in India, Real estate in India, Real estate projects in India, Residential projects in India
