L&T Realty announced on Monday that it has secured agreements to jointly build projects in the Mumbai region for Rs 8,000 crore, as part of its expansion strategy.

The real estate division of Larsen & Toubro is called L&T Realty. According to a statement from L&T Realty, "the company has signed into a legally binding agreement to jointly build projects in South Mumbai, the Western Suburbs, and Thane worth Rs 8,000 crore, with the potential for development of 4.4 million square feet."

The names of the companies with whom it has agreements were not made public by the company. This is a component of the company's bigger strategy to increase its footprint in key metro areas by about 5 million square feet annually over the following five years, L&T Realty said. 

"We are committed to growing our reach and continue exploring new markets," stated Shrikant Joshi, MD & CEO of L&T Realty. Five acres of land will be used to create the South Mumbai project. Twin towers of 50 stories each will house premium facilities and retail space in this residential development.

The project in Western Suburban area is set in a key location of Andheri. This would be L&T Realty’s prime project in Western Suburb and the it  will develop a residential complex consisting 20 towers with a modern shopping complex. The Company has an extensive portfolio spanning 70 million square feet across residential, commercial and retail developments. It is present in Bengaluru, Chennai, Mumbai, Navi Mumbai, and to some extent in NCR and Hyderabad.

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