Larsen & Toubro has announced the completion of a major acquisition, with its wholly owned subsidiary L&T Realty Properties Limited (L&T RPL) executing a Share Purchase and Shareholders' Agreement for acquiring 100% stake in International Green Scapes Limited for ₹1,123 crores. This strategic transaction marks a significant expansion move by the engineering and construction giant in the real estate sector.

Acquisition Structure and Timeline

The acquisition involves the complete takeover of International Green Scapes Limited, with L&T RPL purchasing 58,23,425 equity shares representing 100% ownership. The transaction is structured as a cash deal and is expected to be completed by April 15, 2026, as disclosed in the company's regulatory filing under Regulation 30 of SEBI LODR.

Target Company Profile

International Green Scapes Limited is a real estate company incorporated on November 22, 1993, with licenses to develop residential properties in Gurugram, Haryana. The company has reported nil turnover for the past three financial years (FY 22-23, FY 23-24, and FY 24-25), indicating it is primarily a land-holding entity.

Strategic Rationale

The acquisition enables L&T RPL to leverage the land owned by International Green Scapes Limited for enhancing and expanding its real estate development portfolio. This move aligns with Larsen & Toubro's strategy to strengthen its presence in the real estate sector through its specialized subsidiary.

Post completion of the acquisition, International Green Scapes Limited will become a wholly owned subsidiary of Larsen & Toubro. The transaction does not fall under related party transactions, and no governmental or regulatory approvals are required for the acquisition, as confirmed in the company's disclosure.

Larsen & Toubro has emerged as the lowest bidder for a major infrastructure project package involving NTPC Lara and DVC-CIL, valued at Rs 22,500 crore. This significant development positions the engineering and construction giant for a potential major contract award in India's power sector.

Project Details

The project package encompasses work for both NTPC Lara and DVC-CIL, representing a substantial infrastructure development initiative in the power sector. The combined value of Rs 22,500 crore makes this one of the significant bidding opportunities in the current market.

Strategic Significance

Emerging as the lowest bidder puts Larsen & Toubro in a favorable position for contract award, subject to technical evaluation and other standard procurement processes. The project represents a significant opportunity for the company to strengthen its order book and expand its footprint in India's power infrastructure segment.

Market Impact

This development highlights Larsen & Toubro's competitive positioning in large-scale infrastructure projects. The company's ability to emerge as the lowest bidder for such a substantial project package demonstrates its cost competitiveness and project execution capabilities in the power sector.