Latest news with #EmbassyDevelopmentsLtd
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.'
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.
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.
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Business Standard
23-05-2025
- Business
- Business Standard
Promoters, Blackstone invest ₹1,060 crore in Embassy Developments
Embassy Developments Ltd, a leading real estate firm, on Friday announced that its promoters and an affiliate of global investment firm Blackstone have invested ₹1,060 crore in the company. The capital was infused through the conversion of unlisted warrants into equity shares by the promoter group and another key shareholder, the company said in a statement. The allotments were made to Bellanza Developers Pvt Ltd, part of the promoter group, and NCL SG Holdings Pte Ltd, a fund managed by Blackstone Real Estate. 'The transaction has resulted in a capital infusion of ₹10.6 billion, further strengthening the company's equity base,' the company said. It added that 5 crore shares were allotted to the promoter entity for ₹415 crore, and 7.7 crore equity shares to NCL SG Holdings for ₹645 crore. 'This equity participation underscores the strong and continued confidence shown by the promoter group and other major shareholders in the company's growth roadmap,' Embassy Developments stated, adding that the fresh capital will bolster its balance sheet and support operational expansion. Following the allotment, the promoter group holds a 42.96 per cent stake, while the Blackstone real estate fund holds 10.93 per cent. Embassy Developments Ltd, formerly Indiabulls Real Estate Ltd, is one of India's prominent real estate developers. The company focuses on residential, commercial, and Special Economic Zone (SEZ) projects across key cities.
