Larsen & Toubro Ltd has extended the timeline for the disposal of its stake in L&T Metro Rail (Hyderabad) Limited to September 30, 2026. The revised date was communicated to the stock exchanges on July 1, 2026. This extension follows an earlier intimation regarding the transaction dated April 29, 2026.

The company stated that the estimated completion date for the disposal has been revised while all other terms and conditions of the transaction remain unchanged. The filing was submitted by Subramanian Narayan, Company Secretary & Compliance Officer.

The transaction involves the divestment of the company's holding in the metro rail entity. No further details regarding the financial implications or the status of the sale process were disclosed in the regulatory filing.

The extension provides the company additional time to finalize the stake sale. Shareholders and market participants will await further updates as the revised completion date approaches.

The communication was addressed to BSE Limited and National Stock Exchange Of India Limited for necessary record-keeping.

Larsen & Toubro Limited has scheduled a meeting of its equity shareholders on Tuesday, August 4, 2026, at 3:00 p.m. (IST) via Video Conferencing (VC) or Other Audio-Visual Means (OAVM) to consider and approve the proposed Scheme of Arrangement between L&T (Transferor Company) and L&T Realty Properties Limited (LTRPL / Transferee Company). The meeting follows orders dated June 12, 2026, and subsequent rectification orders dated June 16, 2026, and June 25, 2026, passed by the National Company Law Tribunal (NCLT), Mumbai Bench, in Company Scheme Application No. CA (CAA) 59/MB-III/2026. The notice for the meeting was dispatched on June 27, 2026, by Company Secretary and Compliance Officer Subramanian Narayan.

Meeting and E-Voting Schedule

The meeting will be conducted without physical presence, adhering to Ministry of Corporate Affairs circulars regarding VC/OAVM. The key dates and procedural details are outlined below:

The NCLT has dispensed with the meetings of secured and unsecured creditors of L&T, as well as the meetings of equity shareholders and unsecured creditors of LTRPL. The scheme requires approval by a majority of persons representing three-fourths in value of the members of L&T casting their votes. The results of the voting will be announced on or before August 6, 2026.

Scheme Structure and Rationale

The Scheme provides for the transfer and vesting of the Realty Undertaking of L&T to LTRPL as a going concern on a slump sale basis, with effect from the Appointed Date of April 1, 2026. LTRPL, formerly known as L&T Seawoods Limited, is an unlisted wholly-owned subsidiary of L&T. The key structural features are summarised below:

The rationale for the scheme includes empowering LTRPL to operate under a focused management structure with sectoral expertise, enabling it to leverage L&T's brand equity and institutional strengths, and facilitating LTRPL's ability to raise financial resources through equity and debt from investors focused on the realty business.

Capital Structure and Financials

The scheme involves a reorganisation of LTRPL's share capital, including a consolidation and subsequent reduction of face value, with the differential credited to the securities premium account. There will be no change in the capital structure of L&T. The financial performance of the entities for the last three financial years is as follows:

L&T (₹ in crores)

*Excluding exceptional items, the recurring PAT for the financial year ended March 31, 2026 is ₹13,130 crores.

LTRPL (₹ in crores)

Assets and Liabilities Being Transferred

The assets and liabilities proposed to be transferred to LTRPL as on March 31, 2026, are detailed below: