L&T real estate arm partners with Valor Estate to co-develop ₹20,000 crore project in Mumbai’s BKC

In a filing to the stock exchanges on July 30, the company said that L&T Parel Project Private Limited, a wholly-owned subsidiary of Larsen & Toubro Limited, has entered into a Memorandum of Agreement (MoA) with Valor Estate Limited for jointly developing a real estate project in Bandra-Kurla Complex (BKC), Mumbai. The project is valued at ₹20,000 crore.

According to reports, the project will include a mix of premium housing, commercial spaces, and a luxury hotel. An Economic Times report said the mixed-use project has a total development potential of over 7.5 million square feet.

Larsen & Toubro announced on July 29 that it had secured new orders for its Power Transmission & Distribution (PT&D) division from both domestic and international clients. The company’s PT&D division won contracts for two 765kV Double Circuit Transmission Line packages. These lines will facilitate the evacuation of power from the Jaisalmer/Barmer Renewable Energy Zone in Rajasthan to substations in Madhya Pradesh, enhancing the interconnection and reliability of the national grid.

The company also received another order from Saudi Arabia for a 380kV network in the kingdom's central region. L&T has secured orders to construct a 380kV substation and 380kV overhead line segments. This initiative supports the country's sustainable and efficient power supply goals.

In response to growing electricity demand in the United Arab Emirates, the diversified construction giant has been contracted to build a 220kV Substation and three 132kV Substations in Dubai and Abu Dhabi. The company informed the bourses in a separate filing that these additions will help meet the increasing energy needs of these major cities.

In Q1FY25, the company’s revenue jumped 14.3% year-on-year ₹56,040.46 core. On a quarterly basis, L&T’s revenue dropped 17.87% from ₹68,120.42 crore in Q4FY24.

The company’s net profit jumped 11.74% YoY to ₹2,785.72 crore in Q1FY25 compared to ₹2,493 crore in the same period a year ago. Sequentially, net profit plunged 36.63% against ₹4,396.12 crore in the March quarter of FY24.

Shares of L&T Limited closed flat at ₹3,778.25 apiece, down 0.09%, on the NSE.