Equinox India achieves booking value worth ₹619 Crores for Embassy Verde 700 units sold within 5 days of launch

Mumbai, India, 30 Jan’25: Equinox India Developments Limited (Equinox India or the Company) (NSE: EMBDL / BSE: 532832), is proud to announce the remarkable success of Embassy Verde, its premium residential project within Embassy Springs, one of North Bengaluru’s largest developments. Since its pre-launch 5 days ago, Embassy Verde has garnered an overwhelming response, securing pre-sales bookings worth ₹619 Crores and selling over 700 units with total saleable area of 0.7 million square feet. This asset forms part of the NAM Estates portfolio, now under Equinox India post-merger.

Speaking on the launch, Mr. Jitendra Virwani, said, “The success of Embassy Verde reaffirms the sustained strong demand for high-quality residential developments in Bengaluru. Along with the sellout of Embassy East Avenue in Whitefield, this underscores our commitment to re-establish Embassy as a leading premium residential developer. Based on this response, we plan to launch the third tower of Embassy Verde in March 2025. With the housing market on a strong trajectory, we are excited to build on this momentum further with the roll-out of more premium residential projects.”

Embassy Verde

Located within 288-acre Embassy Springs township, Embassy Verde boasts a saleable area of 1.1 million square feet, with a revenue potential of ₹880 Crore spanning across 12 acres. The project caters to a wide spectrum of homebuyers—from young professionals seeking a polished 1 BHK to growing families in need of a spacious 3 BHK. Each unit has been thoughtfully designed to maximise space, natural light, and functionality.

1,044 units across 2 phases

Phase 1 of 700 units launched & fully sold

Unit typology of 1, 2, 2.5, and 3 BHK apartments

Unit sizes ranging from 628 to 1,389 square feet

Embassy Springs

Embassy Springs is 288-acre township in North Bengaluru, with seamless connectivity to major employment hubs and is just a 15-minute drive from Kempegowda International Airport. With over 100 world-class amenities, 45+ acres of open green spaces, and an 18-kilometre internal road network, Embassy Springs has set a new standard for integrated community living. The township also features a school, a senior living community, and a host of lifestyle-enhancing facilities, making it a truly self-sustained ecosystem for modern urban living.

For more information please contact:

Ankit Naita – Investor Relations

ir@ibrealestate.com

About

Equinox India Developments Limited, one of the leading real estate developers in India, was incorporated in 2006 with its focus on construction and development of residential, commercial and SEZ projects across Indian cities. Geographically, our strategic focus is on the key markets of the Bengaluru, Mumbai Metropolitan Region (“MMR”) and the National Capital Region (“NCR”) of India, we are also present in various parts of India across Chennai, Jodhpur, Vadodara, Vizag, and Indore. We have diversified presence in residential real estate developments with a well-balanced mix of high-value & high-volume products across Mid-income, Premium and Luxury price categories. Our portfolio of ready, ongoing, and future residential developments encompasses branded residences, uber-luxury villas, exclusive villaments, sky condominiums, integrated developments, senior living, and contemporary homes. We strive to build a resilient ecosystem and proactively foster the social, economic, and environmental developments of the communities we work in. We are listed on the BSE Limited, India (“BSE”) & National Stock Exchange of India Limited (“NSE”). The company’s long term debt rating by Infomerics at IVR A- Stable.

Recently, vide order dated January 7, 2025, Hon’ble National Company Law Appellate Tribunal, New Delhi Bench, (“NCLAT”) has approved the merger scheme between Equinox India & Nam Estates (Embassy Group). The Company has successfully completed & implemented the scheme effective from the appointed date January 24, 2025. Embassy Group becomes a new promoter with 41.4% controlling stake. Equinox India is under process to change its name to Embassy Developments Ltd., subject to regulatory approvals. Mr. Jitu Virwani has been appointed Non-Executive Non-Independent Director on the Board w.e.f. January 25, 2025.

Disclaimer

This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Equinox India Developments Limited (the “Company”) makes no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of the Company.

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