L&T bags contract for Piramal Realty project

MUMBAI: Piramal Realty has awarded a contract of core and shell civil work for its premium residential project in Mumbai's Byculla locality to L&T Construction, the developer said a release.

The contract for the project, Piramal Aranya covering around 4 million sq ft construction, is worth over Rs 700 crore.

Piramal Realty, the real estate arm of Piramal Group, is planning to invest around Rs 4,450 crore, to develop this project. The total project expenditure includes land, and project development and execution costs. The developer had launched the project in March 2016, and is now launching new inventory of 3-bedroom apartments.