Larsen & Toubro (L&T) has partnered with Valor Estate Ltd to develop a real estate project in Mumbai. The project size is yet to be disclosed.
Photograph: Hemanshi Kamani/Reuters
New Delhi, Jul 30 (PTI) Engineering and construction conglomerate Larsen & Toubro (L&T) on Tuesday said its wholly owned arm has entered into a pact with Valor Estate Ltd for development of a real-estate project in Mumbai.
L&T Parel Project Pvt Ltd is into real estate development business.
"L&T Parel Project Pvt Ltd... in the ordinary course of its business has signed a Memorandum of Agreement with Valor Estate Limited to develop real estate project in Mumbai," L&T said in a filing to the BSE.
The company, which did not comment on the size of the project, said the definitive agreement will be signed, subject to satisfactory completion of due-diligence and fulfilment of conditions precedent.
Larsen & Toubro is a USD 27-billion Indian multinational engaged in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing and services, operating across multiple geographies.
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