L&T gains 3% as realty arm signs 3 projects worth $1 billion in MMR

L&T Realty has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with development potential of 4.4 million square feet.

Shares of Larsen & Toubro (L&T) were up 3 per cent to Rs 1,734 on the BSE in Monday's intra-day trade after the company announced that its realty arm has signed three projects worth $1 billion in the Mumbai Metropolitan Region (MMR). With today's gain, the stock of the engineering, designing & construction company has rallied 18 per cent in the past one month. In comparison, the S&P BSE Sensex was up 6 per cent during the same period.

"L&T Realty, the realty arm of L&T, has entered into a binding agreement to jointly develop projects in South Mumbai,