On January 5, 2023, the EPC major announced its wholly owned subsidiary of L&T Realty Developers has agreed to sell its entire stake in Think Tower Developers (TTDPL) for Rs 1 lakh.

• PM Modi Receives Warm Welcome from Indian Diaspora in Brazil
• NALCO, Hindalco, Vedanta Shares Rise Up to 9% as China Cancels Aluminium Export Tax Rebates
• Telangana Government Authorises Rs 205 Crore for Warangal Airport
• KPI Green Shares Surged 4% on 1:2 Bonus Issue
• Nifty IT Falls 3% as Powell Warns on Rate Cuts; TCS, Wipro Drop Over 3%

Till January 30, 2023, the agreement is expected to complete as per closing conditions. The company said that L&T Realty Developers in TTDPL is being sold to Pratik Harshad Kalsariya, who is not part of the promoters’ group.

The company is to engage in EPC projects, hi-tech manufacturing and services. In fifty countries all over the world, it operates.

On a consolidated basis, the net profit of EPC major jumped 22.5% to Rs 2,228.97 crore on a 23% increase in net sales to Rs 42,762.61 crore in July-September of FY23 over July-September of FY22.

L&T’s shares go up 0.48% on BSE to Rs 2,095.10.