Latest news with #AdityaVirwani
The Hindu
23-06-2025
- Business
- The Hindu
Embassy to develop residential realty worth ₹1,600 crore in Bengaluru
Embassy Developments Ltd. (EDL), a Bengaluru-based real estate firm, has on Monday signed a Joint Development Agreement (JDA) for a 17.9 acres land parcel in Whitefield, in the City. The planned development would comprise a premium residential community with an estimated gross development value (GDV) of ₹1,600 crore, said the firm. Aditya Virwani, Managing Director, EDL, 'While we have a secured launch pipeline of 10 projects for FY2026 with an expected GDV of over ₹22,000 crore, this deal reinforces our commitment to building a robust future pipeline and we are actively exploring new opportunities across key markets.'
Time of India
23-06-2025
- Business
- Time of India
Embassy Developments to jointly develop 17.9 acres land in Whitefield, Bengaluru
NEW DELHI: Embassy Developments (EDL) has signed a joint development agreement (JDA) for 17.9 acres land parcel in Whitefield , Bengaluru . Aditya Virwani , managing director of the company said, "We have a secured launch pipeline of 10 projects for FY2026 with an expected GDV of over ₹22,000 crore." The planned development will comprise of residential community with an estimated gross development value (GDV) of ₹1,600 crore. The development will span 1.6 million sq ft of saleable area and feature 1,000 apartments including 2, 2.5, and 3 BHK configurations.
Hindustan Times
23-06-2025
- Business
- Hindustan Times
Embassy Developments enters JDA for 17.9-acre land parcel in Bengaluru; to launch housing project
Bengaluru-based Embassy Developments Ltd (EDL) has signed a Joint Development Agreement (JDA) for a 17.9-acre land parcel in Whitefield, Bengaluru, the company said on June 23. Bengaluru-based Embassy Developments Ltd (EDL) has signed a Joint Development Agreement (JDA) for a 17.9-acre land parcel in Whitefield. (Photo for representational purposes only)(Pixabay) The residential project, located off Whitefield Main Road, will span approximately 1.6 million sq ft of saleable area and is expected to include around 1,000 apartments in 2, 2.5, and 3 BHK configurations. The project has an estimated gross development value (GDV) of ₹1,600 crore, with a formal launch planned for FY2027. 'Whitefield continues to be a strategic focus for us. As a predominantly end-user-driven micro-market, it has shown greater resilience supported by sustained demand from Bengaluru's professional workforce and ongoing infrastructure growth,' Aditya Virwani, Managing Director of Embassy Developments Ltd, said. Also Read: Embassy Group's hospitality arm Olive planning to raise $20 million, onboard strategic investor Currently, the Embassy Group has a secured launch pipeline of 10 residential projects in FY2026 with an anticipated GDV of over ₹22,000 crore. 'This deal reinforces our commitment to building a robust future pipeline, and we are actively exploring new opportunities across key markets,' he said. Last year, the company signed a joint development agreement for 3.75 acres of land in Bengaluru's Whitefield area and will launch a premium residential project designed for millennials. The project, spanning 5.4 lakh square feet of saleable area, comprised approximately 400 apartments (including 2 BHK, 2.5 BHK, and 3 BHK units) in Whitefield.
Business Standard
23-06-2025
- Business
- Business Standard
Embassy Developments rises after inking joint development pact for land parcel in Bengaluru
Embassy Developments added 1.46% to Rs 118.40 after the company announced the signing of a joint development agreement (JDA) for nearly 17.9-acre land parcel in Whitefield, Bengaluru. The planned development will comprise a premium residential community with an estimated gross development value (GDV) of approximately Rs 1,600 crore. The development will span nearly 1.6 million square feet of saleable area and feature ~1,000 thoughtfully designed apartments for young professionals, including 2, 2.5, and 3 BHK configurations. Launch is targeted for FY2027, aimed at catering to strong demand from IT and ITeS professionals in the region. Nestled off Whitefield Main Road, the project will enjoy access to Whitefields robust social and physical infrastructure, including hospitals, schools, banks, tech parks, and malls. Aditya Virwani, managing director, Embassy Developments, said: "Whitefield continues to be a strategic focus for us. As a predominantly end-user-driven micro-market, it has shown greater resilience supported by sustained demand from Bengalurus professional workforce and ongoing infrastructure growth. While we have a secured launch pipeline of 10 projects for FY2026 with an expected GDV of over Rs 22,000 crore, this deal reinforces our commitment to building a robust future pipeline and we are actively exploring new opportunities across key markets." Embassy Developments is one of Indias leading real estate developers, specializing in the construction and development of residential, commercial, and Special Economic Zone (SEZ) projects across Indian cities. With a strategic focus on Bengaluru, the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR), the company also has a presence in Chennai, Jodhpur, Vadodara, Vizag, and Indore. The company had reported a consolidated net profit of Rs 129.53 crore in the quarter ended March 2025 as against net loss of Rs 98.99 crore during the previous quarter ended March 2024. Revenue increased by 134.03% to Rs 889.31 crore in Q4 FY25 as compared with Q4 FY24.
Time of India
23-06-2025
- Business
- Time of India
Embassy Developments signs JDA for Rs 1,600 crore premium residential project in Bengaluru
Embassy Developments Ltd . ('EDL'), a real estate development form has signed a Joint Development Agreement (JDA) for a 17.9‑acres land parcel in Whitefield, Bengaluru. The planned development will comprise a premium residential community with an estimated gross development value (GDV) of ₹1,600 crore. Located in Whitefield, the development will span 1.6 msf of saleable area and feature 1,000 apartments for young professionals, including 2, 2.5, and 3 BHK configurations. The launch is targeted for FY2027, aimed at catering to strong demand from IT and ITeS professionals in the region. 'Whitefield continues to be a strategic focus for us. As a predominantly end-user-driven micro-market, it has shown greater resilience supported by sustained demand from Bengaluru's professional workforce and ongoing infrastructure growth. While we have a secured launch pipeline of 10 projects for FY2026 with an expected GDV of over ₹22,000 crore, this deal reinforces our commitment to building a robust future pipeline and we are actively exploring new opportunities across key markets,' said Aditya Virwani, Managing Director, Embassy Developments Limited . With a strategic focus on Bengaluru, the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR), the company also has a presence in Chennai, Jodhpur, Vadodara, Vizag, and Indore. EDL boasts a diversified residential portfolio , offering a well-balanced mix of high-value and high-volume developments across mid-income, premium, and luxury segments. Its portfolio of ready, ongoing, and future residential developments includes branded residences, uber-luxury apartments and villas, exclusive town homes, condominiums, integrated townships, senior living communities, and contemporary homes. Embassy Developments Limited (formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited, is a real estate development firm, specializing in the construction and development of residential, commercial, and Special Economic Zone (SEZ) projects across Indian cities. With a strategic focus on Bengaluru, the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR), the company also has a presence in Chennai, Jodhpur, Vadodara, Vizag, and Indore. EDL has a diversified residential portfolio, offering a well-balanced mix of high-value and high-volume developments across mid-income, premium, and luxury segments. Its portfolio of ready, ongoing,and future residential developments includes branded residences, uber-luxury apartments and villas, exclusive town homes, condominiums, integrated townships, senior living communities, and contemporary homes. Following recent approval on the scheme of merger between Nam Estates Private Limited and the Company, by the National Company Law Appellate Tribunal (NCLAT) on January 7, 2025, Embassy Group (Jitendra Virwani and Aditya Virwani with certain group entities) has become the new promoter with a 42.44% controlling stake. The merger was successfully implemented with effect from January 24, 2025, and the Company has been renamed as Embassy Developments Limited effective February 13, 2025.
