L&T Construction Bags Major Housing Order from CIDCO
The Buildings & Factories business of Larsen & Toubro (L&T) Construction has won a major* contract to build residential project and related infrastructure for City and Industrial Development Corporation of Maharashtra Ltd (CIDCO). It shall be a fast track project with on-site infrastructure works in Navi Mumbai.
About the Project: The project is under Pradhan Mantri Awas Yojana (PMAY). 23,432 dwelling units are to be built for Economically Weaker Section (EWS) and Low-Income Group (LIG). The buildings may vary from 13 to 20 storeys.
Project Classification: The classification done by L&T for the order value is “Major”*.
*As per the company’s press release dated 9th September 2019.
| Classification | Significant | Large | Major | Mega |
| Value in ₹ Cr. | 1000 to 2500 | 2500 to 5000 | 5000 to 7000 | > 7000 |
About PMAY (Pradhan Mantri Awas Yogna): It is an initiative by the Government of India for building affordable houses for urban poor. The target of the government is to build 20 million affordable houses by 31st March 2022.