|
The acquisition involves 58,23,425 equity shares, giving L&T RPL complete ownership and control of IGSL, a real estate company with development rights in Gurugram, Haryana. The company said the transaction will enable it to leverage IGSL's land bank to expand and strengthen its real estate development portfolio. IGSL holds licenses for residential development projects, aligning with L&T Realty's growth strategy. IGSL, incorporated on 22 November 1993, has reported nil turnover over the last three financial years, including FY23, FY24 and FY25. The deal does not fall under related party transactions, and the promoter group has no interest in the acquired entity. No regulatory approvals are required for the acquisition. The transaction is expected to be completed by 15 April 2026. L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, operating across multiple geographies. On a consolidated basis, L&T's net profit declined 4.27% year-on-year to Rs 3,215.11 crore in Q3 FY26, even as revenue from operations rose 10.48% to Rs 71,449.70 crore in Q3 FY26. Shares of Larsen & Toubro added 1.61% to end at Rs 3,959.90 on 10 April 2026.
|