Prestige Group & L&T Sign Largest Civil Contract

Prestige Group, recently signed a massive civil contract worth INR 1,560 crores excluding GST with premier infrastructure manufacturer and multinational conglomerate Larsen and Toubro (L&T), for construction of buildings and infrastructure development at the Prestige City, Bengaluru. Dr Rezwan Razack, Managing Director of Prestige Group, and Prashanth B. K., Assistant Vice President (AVP) for Contracts at L&T, signed what is said to be the largest contract in civil engineering history. L & T will construct towers and villas, which will total 6,768 apartments in 39 towers that average 30 stories high, with four clubhouses and 149 villas with clubhouses. The volume of work broadly involves building structures and finishes for 13 million sft of built-up area. Dr Rezwan Razack said, “This partnership between Prestige Group and L&T, endeavours to accelerate growth for both companies in the space of community and township style developments. The Prestige City, is a unique and ultra-modern project, built to suit the fast-paced needs of our urban customers and this strategic contract agreement aims to leverage the respective strengths, expertise and capabilities of the Prestige Group and L&T to create compelling and high-quality infrastructure for our residents.” “At L&T, we always put a premium on client associations and our relationship with the Prestige Group has been a particularly fulfilling one of shared vision, objectives and commitment. Winning this order is a re-affirmation of the trust that the Group repose in L&T to deliver housing infrastructure to quality and time. With our innovative and modern construction methods and techniques, we are confident to meet our client’s expectations by building wonderful homes for their customers.” added M V Satish, Whole Time Director and Senior Executive Vice President (Buildings) at L&T.