A binding agreement has been reached by L&T Realty, the real estate division of Larsen & Toubro, to jointly construct projects in Thane, South Mumbai, and the Western Suburbs for a total of Rs 80 billion, with a development potential of 4.4 million sq ft.

This is a part of the company's bigger strategy to increase its square footage in key metro areas by roughly 5 million sq ft annually over the following five years.

Five acres of land will be used to create the residential complex in South Mumbai, which would include twin towers with 50 stories each. The residential development in Andheri's Western Suburb would have 20 storeys and a shopping centre.

Six acres of land will be used to create the Thane project. L&T Realty is currently present in Mumbai, Navi Mumbai, Bengaluru, Chennai, and to a lesser extent in NCR and Hyderabad. Its portfolio spans 70 million sq ft across residential, commercial, and retail complexes.