Piramal Group’real estate firm Piramal Realty has awarded Rs 700 crore contract to Larsen and Toubro (L&T) Group for construction of its housing project in Mumbai.
The Mumbai-based realty firm is developing a project in Byculla – Piramal Aranya – with the total investment pegged at Rs 4,450 crore, including land, and project development and execution costs, the company said in a statement on Friday.
“Piramal Realty has awarded engineering and construction company Larsen & Toubro (L&T) Construction with the contract for the core and shell civil work for Piramal Aranya. Covering nearly four million sq ft of construction area, the contract is worth over Rs 700 crores,” the statement said.
Taking after the fruitful dispatch in March 2016, the organization is uncovering new stock of the 3 Bedroom Hall Kitchen tip top harbor confronting suites. Appointments for this stock will initiate from August 20, 2016. "We propelled Piramal Aranya in March not long ago in a try to assemble world-class lavish private tall structures in the city. It is our most huge private advancement and we are endeavoring to guarantee that it is one of the finest structures on the planet," said Anand Piramal, Executive Director, Piramal Group.
In 2015, Goldman Sachs and Warburg Pincus, two universal value accomplices, put about $434 million in the organization at the substance level, making it one of the biggest outside interest in land.
Piramal Group is one of India's driving combinations with interests in pharmaceuticals, money related administrations, data administration, glass bundling and land. It is established by Ajay Piramal and has a business sector esteem in abundance of $6.5 billion.