Embassy Developments' Ambitious Push in Mumbai Realty Market

Embassy Developments Ltd anticipates a significant surge in sales to Rs 5,000 crore this fiscal year, driven by strong housing demand and strategic launches in the Mumbai Metropolitan Region. With plans to develop over 316 units and complete legacy projects, the company aims for substantial revenue growth.

Embassy Developments Ltd is set to achieve a remarkable leap in sales bookings, aiming for Rs 5,000 crore this fiscal year amid strong housing demand. According to Managing Director Aditya Virwani, the company's operations gained momentum after its acquisition of Indiabulls Real Estate (IBREL).

Virwani revealed that the company sold properties worth about Rs 2,000 crore in the first nine months and is optimistic about achieving another Rs 3,000 crore in sales in the current quarter. This expected growth is attributed to new residential launches in the Mumbai Metropolitan Region (MMR) and continued sales in existing projects.

EDL plans significant investments, including a Rs 7,000 crore capital infusion in the Mumbai market to develop and complete six luxury projects. New developments in Juhu, Worli, and Alibaug are projected to generate over Rs 12,000 crore in revenue, enhancing EDL's presence and impact in India's real estate sector.