Embassy Developments to Divest Prime Bengaluru Commercial Project

Embassy Developments Ltd plans to sell its Bengaluru commercial project for Rs 3,200-3,700 crore to monetise assets. The project includes a potential leasable area of 3.3 million square feet. The divestment is subject to approvals. Embassy posted strong financial results, with increased income and profit.

Devdiscourse News Desk | Mumbai | Updated: 29-05-2025 22:41 IST | Created: 29-05-2025 22:41 IST

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Embassy Developments Ltd is exploring the sale of a significant commercial project in Bengaluru, valued between Rs 3,200-3,700 crore, as it focuses on monetizing its assets. The project, located in the bustling Whitefield area, offers a potential leasable area of approximately 3.3 million square feet upon completion.

This strategic move by the realty firm is in the preliminary stages, subject to final agreements and required approvals. Embassy Developments intends to offer Embassy Office Parks REIT an acquisition opportunity for the development project, highlighting the appeal of this high-value asset.

Financially, Embassy Developments has shown strong performance, with a net profit of Rs 122.98 crore in the last quarter compared to a loss in the previous year. The total income for the last fiscal year soared to Rs 2,546.97 crore, reflecting the firm's robust growth and recovery trajectory.

(With inputs from agencies.)