Larsen & Toubro Acquires 100% Stake in International Green Scapes Ltd
Larsen & Toubro (L&T), a leading infrastructure major, has made a significant move in the real estate market by acquiring a 100% stake in International Green Scapes Ltd (IGSL), thereby unlocking 20 acres of prime land in Gurugram for real estate development.
Land Acquisition Details:
- Acquisition Value: Rs 1,123 crore
- Land Area: 20 acres
- Development Potential: 3.6 million square feet
This strategic acquisition marks the first land acquisition in the National Capital Region (NCR) micro-market by L&T Realty Properties Ltd (LTRPL), a subsidiary of L&T.
Acquisition Timeline:
- April 10, 2026: Share Purchase and Shareholders' Agreement executed
- April 13, 2026: Acquisition completed
The acquisition will enable L&T Realty Properties to leverage the land owned by IGSL for enhancing and expanding its real estate development portfolio.
Impact on L&T's Real Estate Portfolio:
The NCR land acquisition significantly bolsters L&T's real estate portfolio amid surging demand for premium housing and commercial spaces in India's fast-urbanising cities.
Cumulative Land Acquisitions:
During the last fiscal, LTRPL and another L&T arm, L&T Realty Developers Ltd, completed cumulative land acquisitions across Mumbai, Delhi, and Bengaluru with an aggregate potential of 3 million square feet, enhancing medium-term development prospects.
L&T Realty's Growth Plans:
L&T is consolidating all its realty businesses under a single entity, subject to regulatory approvals, positioning L&T Realty as a unified powerhouse to tap India's real estate boom driven by infrastructure growth and urban migration.
Share Price Movement:
Shares of Larsen & Toubro were trading 1.62% higher at Rs 4,079.00 apiece on BSE.