L&T Realty targets ₹25,000 crore in residential launches across three markets
Launch programme spans Mumbai, NCR and Bengaluru
L&T Realty plans three to four residential launches in the second half of FY27, with a combined launch potential of ₹25,000 crore across Mumbai, the National Capital Region and Bengaluru. CEO and Managing Director Anupam Kumar outlined the programme in an interview published by the company on October 7, 2026.
The plan includes two launches each in NCR and Bengaluru, alongside Mumbai projects. Kumar said the launches would be phased, rather than brought to market simultaneously. The ₹25,000 crore figure represents the potential value across the programme in Gurugram, Bengaluru and Mumbai—not the value of any single project.
Launch timing and business outlook
L&T Realty expects the first half of FY27 to be measured, with larger launches expected to strengthen activity in the third and fourth quarters. The third quarter runs from October to December 2026. The timing will depend in part on project approvals and how quickly acquired projects can be prepared for market; Kumar described approvals as a key execution variable.
The company reported presales of about ₹10,000 crore in FY26. Its development pipeline currently represents more than 70 million square feet across projects under execution or at the planning stage. L&T Realty aims to take that potential to close to 150 million square feet over the next four to five years.
Kumar said residential would remain the company’s principal business, with an anticipated portfolio mix of approximately 85:15 in favour of residential over commercial. The company is also consolidating property assets under L&T Realty to create a unified real-estate entity, while prioritising project acquisitions and pipeline growth.
Market conditions
Kumar expects price growth in the Mumbai Metropolitan Region and other leading markets to moderate from recent exceptional levels as additional supply comes to market. He indicated that growth could stabilise at around 10%, with Bengaluru likely to follow a similar path. These are market expectations rather than project-specific price forecasts.
He said performance would vary according to factors such as location, design, quality, target segment, distinctiveness and buyer confidence. In his assessment, premium and luxury housing—segments in which L&T Realty operates—was experiencing relatively less pressure on sales velocity than affordable and sub-premium housing.
L&T Realty’s footprint and development approach
L&T Realty is the real-estate arm of Larsen & Toubro, a multinational conglomerate described by Business Standard as having a value of $32 billion. The company’s stated pipeline ambitions accompany a focus on scaling its presence in markets beyond Mumbai. Kumar said its outside-Mumbai developments generally target more than four million square feet; the NCR target is around 10 million square feet, while Bengaluru opportunities include larger-scale developments such as mixed-use townships.
In Mumbai, where developable land is scarce, Kumar said the company undertakes projects through the Slum Rehabilitation Authority framework and that most of its local portfolio is SRA-led. Its stated preference is for cluster redevelopment projects exceeding roughly 1.5–2 million square feet. The company works with partners on Mumbai projects, while acquiring and developing land directly in other cities.
Next steps
L&T Realty intends to phase its residential launches through H2 FY27, with stronger momentum expected in Q3 and Q4 as projects move through approvals and become market-ready. Kumar said the company’s objective is to have visibility across at least the next 12 quarters by the end of FY27. Over the longer term, it aims to expand development potential to close to 150 million square feet within four to five years.