New Delhi

Larsen & Toubro on Monday said its subsidiary L&T Realty Properties Ltd has acquired a 100 per cent stake in International Green Scapes Ltd, unlocking 20 acres of prime land in Gurugram for development.

This marks the first land acquisition in the National Capital Region micro-market by L&T Realty Properties and offers a development potential of around 3.6 million square feet.

On April 10, the company had announced execution of a Share Purchase and Shareholders' Agreement to acquire the entire stake in International Green Scapes for Rs 1,123 crore. The acquisition was completed on April 13, 2026.

L&T said the deal would help expand and strengthen its real estate development portfolio by leveraging the land owned by the acquired company.

The NCR acquisition significantly boosts L&T’s presence amid rising demand for premium housing and commercial spaces in India’s rapidly urbanising cities.

During the last financial year, L&T Realty Properties Ltd and L&T Realty Developers Ltd completed cumulative land acquisitions across Mumbai, Delhi and Bengaluru with a combined development potential of 3 million square feet, the company said in a regulatory filing.

L&T is also consolidating all its real estate businesses under a single entity, subject to regulatory approvals, positioning L&T Realty to benefit from India’s property market growth driven by infrastructure expansion and urban migration.

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Shares of Larsen & Toubro were trading 1.62 per cent higher at Rs 4,079 on the BSE.