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L&T Realty eyes INR 3,200 crore revenue from Navi Mumbai project

Infra News - Published on Thu, 16 May 2019

Image Source: Realty Plus Magazine
Diversified group Larsen & Toubro's real estate arm L&T Realty is eyeing revenues of INR 3,200 crore from an upcoming project in the satellite city of Navi Mumbai. The 10-acre parcel, the first transit-oriented development in India coming up near the Seawoods Darave railway station, has a development potential of 1.5 million square feet and will be developed in a phased manner.

A company official said that "Bookings for the phase-I of the project have finished and we are looking at revenues of around Rs 3,200 crore, once completed."

For the first phase, it has received nearly 1,800 booking applications from home buyers for 500 units offered, which belies the fears of a slowdown in the market.

Company's managing director and chief executive Shrikant Joshi told "The project has received an unprecedented response from the customers, brokers, corporate houses and international markets at a time when the market is muted."

Source :

Posted By : Rabi Wangkhem on Thu, 16 May 2019
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