Embassy Developments Inks JDA to Create a Premium Residential Community
According to reports, Embassy Developments Ltd has entered into a Joint Development Agreement (JDA) for a 17.9-acre plot in Whitefield, Bengaluru, with plans to create a premium residential community estimated to have a gross development value of Rs.1,600 crore.
In a regulatory filing to the stock exchanges, the company noted that the project, situated off Whitefield Main Road, will cover around 1.6 million sq ft of saleable space and provide nearly 1,000 apartments in 2, 2.5, and 3 BHK configurations.
Slated for launch in FY27, the development will primarily target IT and ITeS professionals.
The location is poised to benefit from advancements in connectivity due to the forthcoming Peripheral Ring Road, Satellite Town Ring Road, and the recently opened Metro Purple Line, according to the company release.
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“Whitefield remains a key focus area for us. As a largely end-user-driven micro-market, it has demonstrated notable resilience, supported by continuous demand from Bengaluru’s professional community and ongoing infrastructure enhancements,” says Aditya Virwani, Managing Director of Embassy Developments Ltd.
This new project contributes to EDL’s expanding residential portfolio, which includes 10 projects planned for FY26 with a forecasted GDV exceeding ₹22,000 crore, the company shared.
Following the announcement of the agreement, shares of Embassy Developments surged more than 3 percent.
Previously known as Indiabulls Real Estate Ltd and Equinox India Developments Ltd, EDL is now part of the Embassy Group after successfully merging with Nam Estates Pvt Ltd earlier this year.
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The group, headed by Jitendra and Aditya Virwani, currently possesses a controlling interest of 42.44 percent in the company.