News & Views on Indian Real Estate

Thursday, October 23, 2008

L&T Mulls Real Estate Mutual Fund

Larsen & Tourbo (L&T), the country's largest engineering and construction conglomerate, is planning to establish a real estate mutual fund (REMF) to expand its portfolio of financial services to the construction industry, a top official said. The company might take a decision only after the financial markets stabilize. "We are considering expanding our financial support to the real estate sector. REMFs are an opportunity that we will pursue at an appropriate time," president (Operations), Mr. J P Nayak said. L&T also has a real-estate division implementing two large residential projects - one of those is in Bangalore.

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