Embassy Group repays ₹1,748 crore debt, strengthens balance sheet

Bengaluru, 15^th October, 2025: Embassy Group has strategically utilized the proceeds from the Offer for Sale in the WeWork India IPO to significantly reduce its group-level debt. The Group has successfully repaid ₹1,748 crore worth of Non-Convertible Debentures (NCDs). This action has also enabled the Group to reduce the pledge on its WeWork India shares to a nominal 15%, a testament to WeWork India being a strategic asset for the Embassy Group.

In addition, Embassy Group has, over the years, completely repaid its ₹1,600 crore debt to Samaan Capital, further consolidating its financial position.

WeWork India’s strong operational performance and highly scalable platform have positioned it as the nation’s leading flexible workspace provider. The successful public listing serves as a compelling endorsement of Embassy Group’s strategic vision, highlighting its capability to foster market-leading enterprises that deliver long-term value to stakeholders.

Mr. Jitendra Virwani, Chairman, Embassy Group, commented on the development:

“WeWork India IPO marks an important milestone in our ongoing efforts to strengthen our balance sheet. The debt reduction not only reinforces our financial stability but also underscores our continued commitment to maintaining a robust and sustainable financial framework.”

About Embassy Group

Embassy Group is a leading real estate developer. The over 75 million sq. ft. of commercial, residential, industrial and warehousing, hospitality, services, retail, and education spaces we have delivered and manage emphasise high standards of quality, world-class services, environmental management, and safety. Founded in 1993, our operations now span the Indian and international markets of Bengaluru, Chennai, Thiruvananthapuram, Mumbai, Pune, the NCR, Serbia, and more. Our 21 million sq. ft. of ready residential developments encompass branded residences, uber-luxury villas, exclusive villaments, sky condominiums, integrated developments, senior living, and contemporary homes. Embassy was a sponsor of India’s first publicly listed and Asia Pacific’s largest Real Estate Investment Trust (REIT). We strive to build a resilient ecosystem and proactively foster the social, economic, and environmental development of the communities we work in. Further information is available at www.embassygroup.com