Embassy Group inks JDA for residential project in Bengaluru, eyes Rs 550-crore revenue

Embassy Group plans to launch 4 million square feet (msf) of the residential portfolio with a potential revenue of Rs 3,300 crore within FY2023-24

Bengaluru-based real estate developer Embassy Group has inked a joint development pact for 3.75 acres of land in Whitefield to develop a premium residential project with a potential revenue of Rs 550 crore.

The total development potential for the project will be 5.4 lakh square feet. The project, that is expected to go live by the last quarter of FY24, will have 400 apartments (comprising 2 BHK, 2.5 BHK, and 3 BHK).

Embassy Group plans to launch 4 million square feet (msf) of the residential portfolio with a potential revenue of Rs 3,300 crore within FY2023-24, Aditya Virwani, chief operating officer of Embassy Group, previously told Moneycontrol.

Currently, the Group has over Rs 2,000 crore of occupancy-certificate-compliant projects ready for possession this year. Additionally, they are looking to launch around Rs 5,000 crore of inventory in the coming year to meet the existing demand for premium and luxury living spaces.