Indiabulls Real Estate Acquires Embassy Property Developments Projects

Indiabulls Real Estate, along with its wholly-owned subsidiary Fama Real Estate, has acquired residential development projects from Embassy Property Developments (EPDPL) in Bengaluru and Chennai. This strategic move was detailed in a recent BSE filing by the company, marking a notable advancement in their real estate portfolio.

Embassy Residency

The first major acquisition is Embassy Residency, a proposed high-rise residential development project located in OMR, Chennai. This project is spread over approximately 8.2 acres and is expected to have a sale area of around 1.4 million square feet. Indiabulls Real Estate acquired this project through the purchase of RGE Constructions and Development from EPDPL for a cash consideration of approximately Rs 119.55 crore. Embassy Residency is poised to cater to the high demand for residential spaces in Chennai, offering modern living amenities and strategically located near key infrastructure.

Embassy Eden

Another significant acquisition is Embassy Eden, a proposed residential villa development project in North Bengaluru. This expansive project covers approximately 31.30 acres and has a sale area of around 0.7 million square feet. Indiabulls facilitated this acquisition through the infusion of approximately Rs 465.71 crore capital into Sion Eden Developers. Embassy Eden aims to provide luxurious villa living in one of Bengaluru's rapidly growing regions, known for its connectivity and upscale residential demand.

Embassy East Avenue

In addition, Indiabulls Real Estate acquired Embassy East Avenue, a proposed residential development project in Whitefield, Bengaluru. This project spans about 3.75 acres and offers a sale area of around 0.5 million square feet. The acquisition was completed through the purchase of Vigor Developments from EPDPL for a cash consideration of approximately Rs 117.28 crore. Whitefield is a prominent tech hub, making Embassy East Avenue an attractive proposition for professionals seeking residential spaces close to their workplace.

Equinox Developments

Furthermore, Indiabulls Real Estate has completed the acquisition of 100% equity share capital of Equinox Developments for an enterprise value/cash consideration of approximately Rs 0.12 crore. This acquisition further strengthens Indiabulls' foothold in the real estate sector, enhancing its capability to deliver comprehensive residential solutions.

These acquisitions represent a strategic move by Indiabulls Real Estate to significantly enhance its real estate portfolio in crucial markets. By integrating these high-value projects. Indiabulls Real Estate's strategic acquisitions not only expand their market presence but also position the company to leverage future growth opportunities. The real estate sector in India is witnessing robust growth, driven by urbanization, increased consumer spending, and favorable government policies. 

Cover image- indiabullsrealestate.com