Embassy Developments Limited Inks Joint Development Pact for ~17.9 Acres of Land in Whitefield, Bengaluru; Boosts Existing Residential Pipeline with an Estimated GDV of ~₹1,600 Cr

Mumbai/Bengaluru – June 23, 2025

Embassy Developments Ltd. (‘EDL’), one of India’s leading real estate developers, today announced the signing of a Joint Development Agreement (JDA) for ~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 Cr.

Nestled off Whitefield Main Road, the project will enjoy access to Whitefield’s robust social and physical infrastructure, including hospitals, schools, banks, tech parks, and malls. Connectivity is set to improve further with the upcoming Peripheral Ring Road (PRR), Satellite Town Ring Road (STRR), and the recently launched Metro Purple Line.

The development will span ~1.6 msf 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.

Aditya Virwani, Managing Director, Embassy Developments Limited., 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 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.”

For more information please contact:

Ankit Naita – Investor Relations | ir@embassyindia.com

About Embassy Group

Embassy Developments Limited (formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited) (“the Company”) is one of India’s 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. 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. Committed to building a resilient ecosystem, the Company actively fosters social, economic, and environmental progress in the communities it serves. The Company is listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) and holds a long-term debt rating of IVR A- Stable from Infomerics.

Following recent approval on the scheme of merger between Nam Estates Private Limited and the Company, by the Hon’ble National Company Law Appellate Tribunal (NCLAT) on January 7, 2025, Embassy Group (Mr Jitendra Virwani, Mr 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 .