Latest news with #JointDevelopmentAgreement
Business Upturn
2 days ago
- Business
- Business Upturn
Nitco signs Rs 350 crore Joint Development Agreement with Total Environment
By Aman Shukla Published on June 27, 2025, 15:05 IST Nitco Limited has signed a Joint Development Agreement with Total Environment Building Systems Pvt. Ltd. on June 26, 2025, to develop its land in Alibaug, Raigad district. The deal, involving parcels of land across Shrigaon, Kalwadkhar, Mondvira, and Dehenkoni villages, is expected to generate a minimum of ₹350 crore over the next three years. As part of the agreement, Nitco has granted development rights to Total Environment for plotted development on the said land. The company has already received an interest-free adjustable advance of ₹58.42 crore as part of the deal. There is no shareholding or board-level influence involved, and the transaction does not fall under related party terms. The agreement also does not involve any issuance of shares, board appointments, or capital restructuring rights. This strategic partnership marks a major monetisation step for Nitco, leveraging its land bank to unlock value. The project is expected to boost Nitco's cash flows and overall financial position over the medium term. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
The Hindu
6 days ago
- 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
6 days ago
- 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
6 days ago
- 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.
Business Upturn
6 days ago
- Business
- Business Upturn
Embassy Developments share jumps 4% after company signs JDA for residential project in Whitefield
By Aman Shukla Published on June 23, 2025, 10:56 IST Embassy Developments shares rose 4% after the company signed a Joint Development Agreement (JDA) for a prime 17.9-acre land parcel in Whitefield, Bengaluru. This strategic move marks the launch of a premium residential project with a gross development value (GDV) of approximately ₹1,600 crore. The project will feature around 1.6 million sq. ft. of saleable area, comprising nearly 1,000 thoughtfully designed apartments. Homebuyers can expect a mix of 2, 2.5, and 3 BHK configurations, tailored for IT and ITeS professionals and urban families seeking modern, lifestyle-centric living in Bengaluru. Located just off Whitefield Main Road, the site offers excellent proximity to top international schools, hospitals, malls, and major tech parks—cementing Whitefield's status as one of Bengaluru's most desirable residential zones. Future connectivity in the region is set to improve further with upcoming infrastructure projects such as the Peripheral Ring Road (PRR), Satellite Town Ring Road (STRR), and the newly operational Metro Purple Line. These upgrades will enhance access to various parts of the city, adding further value to the development. Embassy Developments shares opened at ₹116.75 and touched a high of ₹121.90 during the day, while the low stood at ₹115.65. The stock is trading within a 52-week range of ₹89.22 to ₹163.69. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
