Larsen & Toubro (L&T) has announced that its wholly owned subsidiary, L&T Realty Properties Limited, has executed a definitive agreement to acquire 100% stake in International Green Scapes Limited (IGSL) for ₹1,123 crore. This strategic move aims to bolster the company’s real estate development portfolio by leveraging land assets held by IGSL. The transaction is expected to be completed by April 15, 2026.
Strengthening the Real Estate Portfolio
Through this acquisition, L&T Realty Properties Limited (L&T RPL) is set to integrate International Green Scapes Limited (IGSL) into its operations as a wholly owned subsidiary. The transaction involves a total cash consideration of ₹1,123 crore for the purchase of 58,23,425 equity shares, representing full ownership of the target entity.
Strategic Rationale
The primary driver behind this deal is the expansion of L&T’s real estate footprint. IGSL, which was incorporated on November 22, 1993, holds valuable licenses for the development of residential properties in Gurugram, Haryana. By securing these assets, L&T RPL gains a significant opportunity to accelerate its residential project pipeline and enhance its land development capabilities in the region.
Transaction Details and Timeline
The acquisition has been structured as a standard business transaction, with the target company having reported NIL turnover across the last three financial years. This investment reflects the company’s focus on identifying and securing high-potential land banks for future growth. The parties have set an indicative timeline for the formal completion of the deal by April 15, 2026.
Source: BSE
