Engineering major Larsen & Toubro today said it has bagged a contract worth Rs 2,903 crore from MHADA to re-develop Mumbai's century-old BDD chawls.
"The Buildings and Factories Business of L&T Construction has bagged a major design and build order worth Rs 2,903 crore to re-develop Mumbai's century-old BDD chawls for Maharashtra Housing and Area Development Authority (MHADA)," the company said in a regulatory filing.
The scope of work comprises design and construction of 20 residential towers for rehabilitation, four high-rise towers for sale and one commercial development within a plot of 16 acres.
On the order win, Larsen & Toubro Deputy MD and President S N Subrahmanyan said: "The BDD chawls are one of Mumbai's most enduring features and by winning the mandate to rehabilitate them, we have another huge opportunity to build India's maximum city."
The job order also covers onsite and offsite infrastructure, landscaping, demolition of existing structures and logistics involved in rehabilitation of the current occupants, among others.
The stock was trading at Rs 1,554.50, up 0.51 per cent on BSE.
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