The Carnival Group has acquired Larsen & Toubro’s commercial real estate projects in Chandigarh at Rs 1,785 crore.
The largest mall of Chandigarh, Elante Mall, Hyatt luxury hotel and office premises with central courtyard has been included in the deal.
Shrikant Bhasi, Carnival Group’s Chairman said, “This acquisition is a part of asset creation for the group as an investment portfolio. This acquisition will help us to further expand our capabilities and has allowed us to make inroads into newer markets. This project will be operated as a separate unit and will be led by its current India based management team.”