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Tuesday, June 5, 2007

L&T to invest Rs 8,000 cr in real estate projects

The increasing demand of residential and commercial projects in India gave the idea to Larsen & Toubro Ltd to invest Rs.8,000 crore in real estate India.


The Mumbai based Larsen & Toubro will make this investment through its its subsidiary L&T Infrastructure Development Project Ltd (L&T-IDPL).

The company will invest the budget in a phased manner. The residential projects are in the process of developing in Chennai, Vishakapatnam and Colombo.

An integrated township will be developed in Chandigarh with the collaboration of a local builder.Land has been acquired by the company in Nagpur to develop a residential projects.

L&T IDPL is working with Bombay Dyeing to complete its first project of redeveloping a dilapidated building in Mumbai.

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