L&T, Valor Ink ₹8500 Cr Mumbai Mega Deal

In a landmark collaboration, Valor Estate, formerly known as DB Realty, has partnered with L&T Realty, the property development arm of Larsen & Toubro (L&T), to develop a ₹8,500-crore residential project in Mumbai’s upscale Bandra West locality. The project will be situated on a 7.5-acre land parcel at Bandra Reclamation and will feature approximately 1.6 million square feet of premium residential space.

The partnership, formalized last month, outlines that L&T Realty will retain 80% of the project’s revenue, while Valor Estate will receive 20% if the average sale rate is up to ₹55,000 per square foot of RERA carpet area. Additionally, L&T Realty will allocate 2.75 lakh square feet of developed space to Valor Estate, earmarked for a luxury hotel with around 200 rooms. Valor Estate is in advanced discussions with an international hotel brand to manage the hotel under a 20-year agreement.

Valor Estate’s role in the project includes vacating the land and securing necessary approvals, which are expected to take 12 to 18 months. The developer is also responsible for the rehabilitation of 1,050 tenements, with completion targeted for 2027-28.

The project, set to be completed within the next five to six years, marks a significant addition to Bandra West’s luxury real estate market, complementing the existing Taj Lands End hotel in the area.

News by Rahul Yelligetti