L&T Realty plans ₹25,000 crore of residential launches in H2 FY27

L&T Realty, the real estate arm of Larsen & Toubro, plans residential launches with a combined development potential of about ₹25,000 crore in the second half of FY27, which runs from October 2026 to March 2027. The company's Chief Executive and Managing Director, Anupam Kumar, outlined the plan in an interview published on 7 October 2026. The launches will be spread across Mumbai, the National Capital Region (NCR) and Bengaluru.

Scale and split of the launches

The ₹25,000 crore figure is development potential, not guaranteed sales or cash collections. The launches will be phased, and the pace will depend on how quickly acquired projects clear approvals and become ready for the market. According to the split reported from the interview, three to four launches are planned in the Mumbai Metropolitan Region, two in Delhi-NCR and two in Bengaluru. Reports differ on the total number of launches, so buyers should treat any single count with caution.

The company's portfolio currently has more than 70 msf of development potential. The target is to reach about 150 msf over the next four to five years. Kumar said the company expects the portfolio to be about 85:15 in favour of residential. A brokerage estimate puts commercial development at about 22 msf over the next five years. The company's recent land buys include a Lower Parel parcel in Mumbai, acquired for ₹448.6 crore and registered on 9 January 2026, for a commercial office tower. In April 2026, L&T Realty Properties Ltd acquired all of International Green Scapes Ltd, which holds about 20 acres in New Gurugram, in an all-cash deal valued at ₹1,123 crore. A source familiar with the matter said that land will be used for residential development.

On costs, Kumar said construction costs rose 5–6% at the peak because of higher steel, aluminium, cement and copper prices, and have since eased to about 4%. He said the company held prices without passing the increase on to buyers. The company expects residential price growth to moderate to around 10% after several years of strong gains.

Disputes at existing projects

The expansion comes alongside a set of unresolved matters at existing projects. Records show RERA proceedings involving the company's projects, homebuyer disputes over possession, post-possession complaints, land-related disputes and ongoing court cases tied to redevelopment. Some complaints have been decided in favour of buyers and some in favour of the developer, while several remain before courts or regulators. In one Bengaluru case, the Karnataka Real Estate Appellate Tribunal dismissed an appeal by homebuyers who had sought demolition of parts of the Raintree Boulevard project, upholding the Karnataka RERA order in favour of L&T Realty Developers Limited. The company denied all allegations and said the apartment was delivered well before the agreed deadline of 31 December 2020.

Market data gives the backdrop. According to property consultancy Knight Frank India, Bengaluru recorded 27,968 residential sales in the first half of 2026, up 5% year on year, and residential prices there rose 9%. NCR sales fell 7% in the same period. Nationally, the first quarter of 2026 set a record for new residential launches, at 90,023 units.

What buyers and investors should watch

For buyers, the phasing may widen choice over time, but the locations of the individual launches have not yet been made public. The first NCR project in Gurugram does not yet have an official name, RERA registration or announced launch date, and its timing depends on approvals. For investors, the key test in H2 FY27 is whether the company converts this pipeline into bookings at the pace it expects, and whether it resolves the open cases at its existing projects.