L&T Realty Properties Ltd. (L&T RPL), a wholly owned subsidiary of Larsen & Toubro, has completed its strategic acquisition of 100% stake in International Green Scapes Ltd. (IGSL) for ₹1,123 crore. According to the latest announcement, the transaction has been executed through a definitive agreement and completed by April 15, 2026, as originally planned. The acquisition 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.
IGSL, incorporated on November 22, 1993, holds valuable licenses for the development of residential properties in Gurugram, Haryana. As reported by CNBC TV18, the company has reported nil turnover over the past three financial years. L&T stated that the acquisition will enable it to leverage IGSL's land parcel to expand and strengthen its real estate development portfolio. The transaction does not fall under related party transactions and no regulatory approvals were required for the deal.
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 Gurugram region. The acquisition represents the company's strategic focus on identifying and securing high-potential land banks for future growth. The transaction has been structured as a standard business transaction, with the target company's nil turnover across the last three financial years reflecting the company's focus on land asset acquisition rather than operational revenue generation.
Shares of Larsen & Toubro ended higher on Friday, April 10, by 1.63% at ₹3,959.90 on the NSE, according to CNBC TV18. The positive market response reflects investor confidence in the strategic acquisition that has now been successfully completed, expanding L&T's real estate development capabilities in the Gurugram market through the integration of IGSL as a wholly owned subsidiary.
