L&T Realty completes Rs 1,123 crore acquisition of IGSL

L&T Realty buys IGSL for Rs 1,123 crore in all-cash deal

L&T Realty Properties acquired a 100% stake in IGSL for Rs 1,123 crore through a cash transaction. L&T said in its regulatory filing that the deal involved the purchase of 58,23,425 equity shares.

The company had earlier indicated that the transaction would be completed by April 15.

“L&T RPL has completed the Acquisition on April 13. Accordingly IGSL has become a wholly owned subsidiary of L&T
RPL and the Company, effective April 13,” L&T said in its regulatory filing.

Strategic rationale

L&T said the acquisition will help its real estate arm leverage IGSL’s land assets to expand its development portfolio. IGSL holds licenses to develop residential projects in Gurugram, a key real estate market in Haryana.

The acquisition, first announced on April 10, was finalised on April 13, 2026.

“This acquisition will enable L&T RPL to leverage the land owned by IGSL for enhancing and expanding its real estate development portfolio,” L&T said in its regulatory filing.

About IGSL

IGSL operates in the real estate sector. The company has reported nil turnover over the past three financial years up to FY25.

Larsen & Turbo Q3FY26

Larsen & Turbo may announced Q4FY26 this month or next month. The official date has not been announced yet. However, In Q4FY26, the Engineering and construction major L&T reported a 4% year-on-year decline in its consolidated net profit to Rs 3,215 crore. The dip was largely due to a one-time exceptional provision of about Rs 1,191 crore linked to employee benefits following the implementation of new labour codes.

Excluding this impact, the company’s underlying profitability remained strong, with recurring profit after tax rising sharply by about 31% YoY to Rs 4,406 crore, indicating resilience in core operations.

Larsen & Turbo share price

The share price of Larsen & Turbo has declined 4.48% so far this year.