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Laresn & Toubro confident on the realty ventures

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As per the sources available with www.propertykhazana.com, Larsen & Toubro Ltd. Mumbai based company has proposed to invest Rs. 8,000 Crores in Indian Realty and Urban Infrastructure in 3-5 years and the company will make investments during its additional L&T Infrastructure Development Venture Ltd. (L&T-IDPL). Taking an indication from high demand for commercial and housing ventures in India, company is expecting to create large place in growing market. It sees forcing its power in engineering and construction to build a good urban infrastructure and the major spotlighted locality will be rising in cities like Chennai, Hyderabad, Vizag, Bangalore and Kochi.
Further as said by the sources at the www.propertykhazana.com HDFC has a 25% share in L&T-IDPL and will be carrying on to the investment. L&T Ltd. has invested Rs. 700 Crores in realty and urban infrastructure ventures and management is also investing an extra amount of Rs. 500 Crores in business this year. It’s one more ancillary IDPL, L&T Urban Infra, is taking the urban ventures and various realty ventures are probably to produce income of Rs. 2,500 Crores yearly, according to the opinion set by L&T.
Y M Deosthalee, Chief Fiscal Officer of L&T said to www.propertykhazana.com that, “Already we have purchased property in Nagpur to construct a housing venture and company is functioning with Bombay Dyeing on building a rundown construction in Mumbai.” Ventures will be performed in stage way, with different SPVs. Company has proposed to make its first venture into housing market of Chennai, Colombo and Vishakhapatnam. Also it has an included township in Chandigarh in its list and the venture will be taken in connection with the local builder.

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