L&T arm inks pact with Valor Estate to develop real estate project in Mumbai

New Delhi: Engineering and construction conglomerate Larsen & Toubro (L&T) on Tuesday said its wholly owned arm has entered into a pact with Valor Estate Ltd for development of a real-estate project in Mumbai.

L&T Parel Project Pvt Ltd is into real estate development business.

"L&T Parel Project Pvt Ltd... in the ordinary course of its business has signed a Memorandum of Agreement with Valor Estate Limited to develop real estate project in Mumbai," L&T said in a filing to the BSE.

The company, which did not comment on the size of the project, said the definitive agreement will be signed, subject to satisfactory completion of due-diligence and fulfilment of conditions precedent.

Larsen & Toubro is a USD 27-billion Indian multinational engaged in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing and services, operating across multiple geographies.