Launch Plans
L&T Realty Plans ₹25,000 Crore of Residential Launches in H2 FY27
L&T Realty, the real estate arm of Larsen & Toubro, plans residential launches with a combined development potential of about ₹25,000 crore across Mumbai, Delhi-NCR and Bengaluru in the second half of FY27 (October 2026 to March 2027). The figure is development potential, not guaranteed sales, and the launches will be phased.
| Developer | L&T Realty, subsidiary of Larsen & Toubro; founded 2011; headquartered in Mumbai |
|---|---|
| Planned residential launches | Combined development potential of about ₹25,000 crore |
| Timing | Second half of FY27, October 2026 to March 2027, phased rather than released at once (reported 6–7 October 2026) |
| Cities | Mumbai (MMR), Delhi-NCR including Gurugram, and Bengaluru |
| Portfolio mix | Expected to be about 85:15 in favour of residential |
| Portfolio scale | More than 70 million sq ft of development potential today; target of about 150 million sq ft over the next 4–5 years |
| Leadership | Anupam Kumar, MD and CEO |
| Construction costs | Up 5–6% at the peak; since moderated to about 4%; price increases not passed on to buyers |
What was announced
L&T Realty, the real estate arm of Larsen & Toubro, plans residential launches with a combined development potential of about ₹25,000 crore. The launches are planned across Mumbai, Delhi-NCR and Bengaluru during the second half of FY27, which runs from October 2026 to March 2027. Anupam Kumar, MD and CEO, outlined the plan in an interview reported on 7 October 2026.
Most of the launches are scheduled from October onward. The company has said they will be phased rather than released together, and the pace will depend on how quickly acquired projects move through approvals and become ready for the market.
How many launches, and where
The number of launches has been reported differently. One report gives a split of three to four launches in the Mumbai Metropolitan Region, two in Delhi-NCR and two in Bengaluru. Another report says three to four launches are planned overall across the three cities. Buyers should treat launch counts as unsettled until the company confirms individual projects.
The specific locations for the new launches have not been made public.
What the ₹25,000 crore figure means
The ₹25,000 crore is development potential. It is not guaranteed sales revenue or cash collections. Development potential is the value the projects could generate if built and sold, and it depends on approvals, construction, and demand over time.
Growth plan and costs
The company's current portfolio has more than 70 million sq ft of development potential. It is targeting about 150 million sq ft over the next 4–5 years. One report gives 2031 as the target year for that figure.
Kumar described four pillars for growth: land and redevelopment opportunities, differentiated premium and luxury products, technology-led execution, and a customer-centric sales engine.
Construction costs rose 5–6% at the peak, driven by higher steel, aluminium, cement and copper prices during the West Asia crisis. They have since moderated to about 4%. L&T Realty kept its pricing and did not pass the increase on to customers.
The company expects residential price growth to moderate to around 10% after several years of strong appreciation.
Recent land deals
- Lower Parel, Mumbai (January 2026): L&T Realty acquired land development rights in Lower Parel for ₹448.6 crore to build a grade-A commercial office tower. The deed was registered on 9 January 2026. The parcel is about 5,413 square metres (about 1.34 acres), and the consideration includes a cash payment of ₹300 crore.
- Gurugram, NCR (April 2026): L&T Realty Properties Ltd acquired all of International Green Scapes Ltd, a Delhi-based company holding land in Gurugram, in an all-cash deal valued at ₹1,123 crore. The deal gives L&T Realty control of about 20 acres in Sectors 81–86 of New Gurugram, with development potential of around 3.6 million sq ft. A source familiar with the matter said the land will be used for residential development.
During FY26, L&T Realty and L&T Realty Developers Ltd, another wholly owned subsidiary, together completed land acquisitions across Mumbai, Delhi and Bengaluru with an aggregate development potential of 3 million sq ft.
Existing projects and disputes
Buyers and analysts have pointed to the company's existing projects as a test of readiness for the expansion. Documented matters include RERA proceedings, homebuyer disputes over possession and other contract terms, post-possession complaints, land-related disputes, and ongoing court proceedings involving redevelopment. The redevelopment matters relate to slum rehabilitation projects in Mumbai. Some complaints have been decided in favour of buyers and some in favour of the developer, and several remain under litigation or regulatory proceedings.
In Bengaluru, the Karnataka Real Estate Appellate Tribunal dismissed an appeal by homebuyers who sought demolition of parts of the L&T Realty Raintree Boulevard project. The tribunal affirmed the Karnataka RERA order in favour of L&T Realty Developers Limited; the report was dated 8 December 2025. The company denied all allegations and said the apartment was delivered well before the agreed deadline of 31 December 2020.
Market context
- Bengaluru: Knight Frank India recorded 27,968 residential sales in H1 2026, up 5% year on year, and residential prices rose 9% year on year.
- NCR: Sales fell 7% in H1 2026, according to the same data. Jewar International Airport is reshaping residential demand in Noida and Greater Noida.
- Nationally: Q1 2026 set a quarterly record for residential launches, with 90,023 new units, up 13% year on year and 32% quarter on quarter.
- Mumbai: The Trans-Harbour Link, Coastal Road, metro expansion and Navi Mumbai International Airport are improving access to Panvel, Thane and Navi Mumbai. No completion dates for these works were reported.
Other developers scaling up in the same period include Birla Estates, Adani Properties and Raymond Realty.
What it means for buyers and investors
For buyers, phasing means more choice over time, but the specific projects and their prices have not been announced. For investors, the plan shows a shift in the company's mix. Commercial development is expected to make up about 15% of the portfolio, and the company says its growth depends on approvals moving on schedule. Buyers should check RERA registration, approvals and possession records for each individual project once it is launched.
Mumbai remains central to the business, while Bengaluru and NCR are becoming larger parts of the expansion strategy. The Gurugram project has no official name, RERA registration or announced launch date yet, and its timing depends on approvals.
What happens next
- October 2026 to March 2027: Phased launches are planned across Mumbai, NCR and Bengaluru.
- Gurugram: The first NCR project will need RERA registration and an official launch announcement before it can go on sale.
- Sales pace: The next visible test is whether the pipeline converts into bookings at the pace the company expects during H2 FY27.
Older context: in July 2022, L&T Realty signed a binding agreement to jointly develop projects in South Mumbai, the Western Suburbs and Thane worth ₹8,000 crore, with development potential of 4.4 million sq ft.
Frequently asked questions
Is ₹25,000 crore the expected sales value of the launches?
No. The figure is development potential, which is the value the projects could generate if built. It is not guaranteed sales revenue or cash collections.
When will the launches happen?
The launches are planned for the second half of FY27, which runs from October 2026 to March 2027. They will be phased rather than released at once, and most are scheduled from October onward.
Which cities are included?
The plan covers Mumbai (the Mumbai Metropolitan Region), Delhi-NCR including Gurugram, and Bengaluru.
How many launches are planned?
Reports differ. One gives three to four launches in Mumbai, two in Delhi-NCR and two in Bengaluru. Another says three to four in total across the three cities.
Has the Gurugram project been launched?
No. The Gurugram project does not yet have an official name, RERA registration or announced launch date. Its timing depends on approvals.
What disputes involve the company's existing projects?
There are documented RERA proceedings, possession and contract disputes, post-possession complaints, land disputes, and court cases involving Mumbai slum rehabilitation redevelopment. Some have been decided for buyers, some for the developer, and several are still pending.