Embassy Group

Name

Embassy Group

Legal name

Embassy Developments Limited (Formerly known as Equinox India Developments Limited, and earlier Indiabulls Real Estate Limited)

Website

https://embassyindia.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Offices of Real Estate Agents and Brokers (531210)

SIC

Real Estate (6500), Operators Of Nonresidential Buildings (6512), Real Estate Investment Trusts (6798)

akta.pro primary industry

Office Brokerage (BPAJABAA)

akta.pro secondary industry

Office Property Management (BPAJAGAA)

Keywords

• Real estate development
• Residential properties
• Commercial real estate
• Integrated townships
• Facility management services

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Residential real estate sales (pre-sales / GDV): Primary revenue driver from sale of apartments, villas, villaments, plotted developments, integrated townships and senior living units across Bengaluru, MMR, Delhi-NCR, Chennai, Indore, Visakhapatnam, Madurai, Vadodara, Jodhpur, Panvel, Thane, Savroli and Lucknow; FY26 pre-sales of Rs 4,631 crore (128% YoY) with Q4 FY26 alone at Rs 2,632 crore (89% QoQ growth).
2. Commercial real estate leasing and sales: Commercial office leasing across business parks (Manyata Embassy Business Park, Embassy Tech Zone, Embassy Zenith, Embassy East Business Park), SEZs and standalone commercial projects (One 09 Gurugram, One Park Vadodara, Mega Mall Jodhpur), generating recurring rental income and one-time commercial sales.
3. Integrated Facility Management services (Embassy Services / ESPL): Property management and facility management services for over 250 clients covering 70+ million sq. ft. across 12 Indian states, plus AI/ML-enabled automated thermal screening solutions.
4. REIT distributions (Embassy Office Parks REIT): Income from India's first listed REIT (launched April 2019); India's REIT market grew to gross asset value of Rs 2.3 lakh crore by September 2025 with Embassy among the top five listed REITs distributing Rs 2,331 crore to investors in Q2 FY26 (70% YoY increase).
5. Flexible-workspace operations (WeWork India): Sponsor-backed revenue from WeWork India, which completed its IPO in October 2025 raising approximately US$338 million (Rs 3,000 crore) via a 100% offer for sale; operates 70 centres in India.
6. Warehousing and industrial parks (Embassy Industrial Parks): 70-30 JV between Warburg Pincus and Embassy Group holding 16 million sq ft portfolio across Pune, Tamil Nadu, Delhi NCR and Hyderabad; in advanced talks with Blackstone to sell at ~$240 million enterprise value for a complete exit.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels9 records

Core offering

Embassy Group is an Indian real estate developer that builds, sells and leases residential apartments, villas, plotted developments, integrated townships, senior living homes, and Grade A commercial office properties across 22+ Indian cities. It also operates India's first listed REIT (Embassy Office Parks REIT), a flexible-workspace business (WeWork India), and an integrated facility management arm (Embassy Services / ESPL) covering 70+ million sq ft.

Product overview

Embassy Group operates as a vertically integrated Indian real estate and property services platform — not a single SaaS product but a portfolio of residential developments, commercial properties, branded residences and integrated townships across Bengaluru, the Mumbai Metropolitan Region (MMR), Delhi-NCR, Chennai, Visakhapatnam, Madurai, Vadodara, Jodhpur and Panvel. Its flagship listed subsidiary Embassy Developments Limited (formerly Indiabulls Real Estate / Equinox India Developments; NSE: EMBDL / BSE: 532832) is the real estate development arm, offering products such as Embassy Citadel (ultra-luxury Worli tower), Embassy Serenity (lifestyle/second-home Alibaug project), Embassy One Thane, Embassy Lake Terraces, Embassy Springs (288-acre integrated township), Embassy Boulevard (ultra-luxury villas), Embassy Pristine, Embassy Grove, Blu Estate & Club, Sky, Sky Forest, Embassy Residency (Chennai), Embassy Greenshore, Embassy Verde, Embassy Paradiso, Embassy East Avenue (Whitefield), Embassy Park Panvel / Daffodils Tower / Greens Panvel, Golf City, Sierra (Visakhapatnam), Centrum (Madurai), Centrum Park (Gurugram), Enigma (Gurugram) and Four Seasons Private Residences at Embassy ONE — alongside commercial assets such as One 09 Gurugram, One Park Vadodara, Mega Mall Jodhpur and Embassy East Business Park. The group complements these developments with the Embassy Services facility-management division (covering 70+ million sq ft across 12 states, including the AI/ML-powered automated Infrared Thermal Screening Solution), Embassy Interiors, Embassy Maximise (rent/resell/enhance), WAYS (World At Your Service) lifestyle concierge and the Embassy Priority loyalty programme, and has recently launched an integrated GCC-as-a-Service platform to serve multinational clients setting up Global Capability Centres in India.

Differentiator

Problem solved

Functional benefit

Brands

• Embassy Greenshore: Premium residential project within Embassy Springs township, North Bengaluru; 878 apartments across 2, 3 and 4 BHK configurations.
• Embassy Lake Terraces
• Embassy Springs
• Embassy Citadel
• Embassy Serenity
• Embassy Services
• Four Seasons Private Residences at Embassy ONE

Products and services

• Embassy Citadel (Worli, Mumbai) Embassy Developments Limited's flagship ultra-luxury single-tower residential development in Worli, Mumbai, with ~1 million sq ft (RERA carpet area) and a GDV of over Rs 8,800 crore. Comprises 3-, 4- and 5-bedroom homes plus two exclusive triplex mansion residences, with ~120,000 sq ft of amenities across seven levels including a five-level clubhouse, padel court, bowling alley, spa and seven guest suites.
• Embassy Serenity (Alibaug) Embassy Developments' first residential project in Alibaug within the Mumbai Metropolitan Region, marking entry into the lifestyle and second-home segment. Spans ~0.2 million sq ft of RERA carpet area on a 7-acre parcel with estimated GDV of ~Rs 400 crore; Phase I features five G+5 towers with 52 residences in duplex and simplex configurations; architecture by Broadway Malyan (UK) and landscape design by Coopers Hill (Singapore); MahaRERA no. PR1271012502175.
• Embassy One Thane
• Embassy Lake Terraces (Hebbal, Bengaluru)
• Embassy Springs (North Bengaluru) 288-acre self-sustained integrated township in North Bengaluru designed by RSP Architects, Colliers Project Management Services and Cicada Architecture/Planning (Singapore); features residential enclaves, high-rise apartments, Embassy Academy (CBSE-affiliated school), 32 community parks, a man-made lake, an 18 km internal road network, 8 km cycling track and 45+ acres of green space. Plots completed with OC received; located 15 minutes from Kempegowda International Airport.
• Embassy Boulevard (North Bengaluru)
• Embassy Pristine (Bellandur, Bengaluru) Completed 14.5-acre luxury lakefront residential project off Outer Ring Road near Koramangala, Bengaluru, comprising 424 premium apartments with 80% open space set against a 1,000-acre heritage lake. Offers 3, 4 and 5 BHK residences with only four units per floor; holds IGBC Green Homes Platinum Certification; amenities include a 72,000 sq ft clubhouse with indoor and outdoor sports facilities; status – completed.
• Embassy Grove (Central Bengaluru) Exclusive 7-acre villament community in Central Bengaluru, strategically located off Old Airport Road and adjacent to the 18-hole KGA Golf Course. Features 106 centrally air-conditioned villaments combining villa-style space with apartment convenience; each villament has a private garden or terrace and a private pool with sundeck; status – ready to move in.
• Embassy Greenshore (North Bengaluru) Newly launched premium residential project within Embassy Springs, North Bengaluru, spanning ~14 acres and 1.55 million sq ft of saleable area. Comprises 878 spacious 2, 3 and 4 BHK apartments across two phases; targets upper-mid-segment buyers with larger-than-usual configurations and ~3-acre central park; located near Kempegowda International Airport.
• Embassy Verde (North Bengaluru) Residential apartment project in North Bengaluru offering 2 and 3 BHK units within the Embassy Springs township; Phase II launched in March 2026 with 702 units across 7.38 lakh sq ft of saleable area.
• Embassy East Avenue (Whitefield, Bengaluru) Modern 2 and 3 BHK residential development on ITPL Main Road in Whitefield, Bengaluru, set on a 3.75-acre land parcel with 393 thoughtfully designed apartments surrounded by over 70% open space; amenities include swimming pool with kids' pool, box cricket, indoor kids' play area, pet park and community lawns; RERA PRM/KA/RERA/1251/446/PR/200224/006649.
• Embassy Residency (Perumbakkam, Chennai) 25-acre integrated township in Chennai's IT corridor with 2,400+ ready-to-move-in homes and 70% open spaces. Eco-friendly features include heat-reflective tiles, solar street lighting, rainwater harvesting and energy-saving systems; amenities include clubhouse, swimming pool, gym, senior-friendly features, children's play area, indoor/outdoor games, multi-purpose hall and laundromat; 15-year maintenance guarantee by Embassy Services; located adjacent to Global Hospital and NPS International School near OMR.
• Four Seasons Private Residences at Embassy ONE Branded residential project at Mekhri Circle, North Bengaluru in partnership with the Four Seasons hospitality brand; offers simplex, duplex apartments and penthouses; ongoing project.
• One 09 Gurugram (Commercial) Ongoing commercial property on Dwarka Expressway (NPR), Sector 109, Gurugram.
• Mega Mall, Jodhpur (Commercial) Ready-to-move-in commercial mall on Pali Road in Jodhpur.
• Embassy East Business Park (East Bengaluru) Commercial business park project in East Bengaluru (Kadugodi Industrial Area, Whitefield); Phase I comprises 2.7 msf leasable area. Subject of an ongoing Karnataka High Court dispute over a 78-acre parcel with KIADB.
• Embassy Services (Integrated Facility Management) Property management and Integrated Facility Management arm of Embassy Group providing services across 250+ clients covering 70+ million sq ft in 12 Indian states; manages every detail of Embassy residential and commercial developments.
• Embassy Group GCC-as-a-Service Platform Integrated GCC platform launched by Embassy Group (alongside Sattva Group, Bhartiya Urban and global property consultants Cushman & Wakefield and CBRE) to capture India's expanding global capability centre market; bundles strategy, execution and operations to compress GCC setup timelines from 12-18 months to as few as 90 days.
• WAYS (World At Your Service) – Managed Residential Services White-glove homeowner services including housekeeping, landscape maintenance, concierge and lifestyle management via Embassy Services Private Limited (ESPL) and World At Your Service (WAYS) packages across Embassy communities.
• Embassy Office Parks REIT India's first listed Real Estate Investment Trust launched in April 2019, generating rental income and distributing returns to unit-holders; Embassy is among the top five listed REITs in India distributing Rs 2,331 crore to investors in Q2 FY26.

Quantifiable outcome

• FY26 pre-sales surged 128% YoY to Rs 4,631 crore; Q4 FY26 alone grew 89% QoQ to Rs 2,632 crore
• +6 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

14 partnerships are on record, tiered flagship construction partner, critical regulatory counterparty, minor / regional social-impact partnership (note: refers to a uk 'embassy' charity, not embassy group india), key design partner for embassy serenity, core jv for senior living vertical, strategic state-level partnership for first up venture, core gtm partners for gcc platform, strategic in-house facility management arm, franchise / portfolio flagship, anchor enterprise tenant, foundational corporate restructuring, signature design partner and master-planning partners for flagship township.

• Leighton Asia (part of CIMIC Group)flagship construction partnerImplementation/ SI/ Consulting Partner · 15 June 2026Awarded a Rs 8,500 million (~$102 million) construction contract for the Embassy Citadel ultra-luxury residential tower project in Worli, Mumbai. Contract covers complete civil and structural works for a 300-metre tall tower spanning approximately 1.6 million sq. ft. with 316 residences and an estimated gross development value of Rs 88,000 million. Construction planned to begin July 2026. Both companies frame the collaboration as a strategic partnership reflecting Leighton Asia's expertise in complex urban high-rise delivery.
• Karnataka High Courtcritical regulatory counterpartyOthers · 15 May 2026Karnataka High Court set aside the KIADB resumption order on the disputed 78-acre Kadugodi Industrial Area parcel held by Embassy East Business Park Ltd (subsidiary of Embassy Developments), allowing the company to retain lawful possession and proceed with business park and Lam Research semiconductor R&D campus plans. Subsequent ruling on June 16-17, 2026 by the Division Bench set aside a vacation bench order in favour of the subsidiary and restored the matter for fresh hearing.
• National Company Law Appellate Tribunal (NCLAT)critical regulatory counterpartyOthers · 7 May 2026NCLAT quashed Corporate Insolvency Resolution Process (CIRP) proceedings against Embassy Developments on May 4, 2026, setting aside the December 9, 2025 NCLT order that had admitted the company. The ruling terminates all directions arising from the NCLT order and fully relieves the company from insolvency proceedings, citing Section 10A of IBC and calling Canara Bank's filing 'casual and callous'. Embassy's stock rallied 51% over three trading sessions following the order.
• Peel Waters, Capital&Centric, Embassy (homeless charity), Moulding Foundationminor / regional social-impact partnership (note: refers to a uk 'embassy' charity, not embassy group india)Strategic or Co-development Partner · 26 February 2026Embassy Village in Manchester transformed 22 disused railway arches into 40 purpose-built homes for homeless people; £3 million in funding from the Moulding Foundation and over £2 million in pro-bono professional fees from Greater Manchester businesses. (Note: 'Embassy' here refers to a UK-based homeless charity, distinct from Embassy Group India.)
• Broadway Malyan (UK) and Coopers Hill (Singapore)key design partner for embassy serenityImplementation/ SI/ Consulting Partner · 16 February 2026Embassy Serenity Alibaug project brought together globally acclaimed partners: Broadway Malyan (UK) for architecture and Coopers Hill (Singapore) for landscape design; project spans ~0.2 million sq. ft. with ~₹400 crore GDV across a 7-acre land parcel with five G+5 towers and 52 duplex/simplex residences.
• Columbia Pacific Communities (Serene Communities)core jv for senior living verticalStrategic or Co-development Partner · 29 January 2026Joint venture for Serene Amara senior living project in Bengaluru. Embassy Developments received OC for 239 apartments at Serene Amara in Q3 FY26 (December 2025). Serene Communities announced Rs 3,000 crore investment to develop 2.5 million sq ft across 13 projects, with partnerships including Embassy Group and Gardencity Developers in Bengaluru.
• Government of Uttar Pradeshstrategic state-level partnership for first up ventureStrategic or Co-development Partner · 21 January 2026Non-binding MoU signed with the Government of Uttar Pradesh to develop approximately 2.5 to 3.0 million sq ft of premium office-led commercial space in Lucknow, with an estimated investment of Rs 1,500 crore. Project aligns with the state's Invest UP framework and aims to position Lucknow as a key commercial hub while generating large-scale employment and attracting GCCs.
• Cushman & Wakefield and CBREcore gtm partners for gcc platformGTM or Marketing Partner · 19 January 2026Partnership with global property consultants Cushman & Wakefield and CBRE to launch integrated GCC-as-a-service platforms bundling strategy, execution and operations to capture India's expanding Global Capability Centre market. Over 1,850 GCCs currently operate in India, leasing nearly 35 million sq ft of office space in 2025 (45% of total office absorption); the platforms compress GCC setup timelines from 12–18 months to as few as 90 days.
• Embassy Services Private Limited (ESPL)strategic in-house facility management armImplementation/ SI/ Consulting Partner · 1 November 2025Embassy Services (ESPL), the property management arm of Embassy Group, provides Integrated Facility Management services to over 250 clients covering 70+ million sq. ft. across 12 Indian states, including AI/ML-enabled automated thermal screening solutions; also provides WAYS (World At Your Service) personalised lifestyle and housekeeping packages exclusive to Embassy residential communities.
• WeWork Companies / WeWork India Management Ltdfranchise / portfolio flagshipStrategic or Co-development Partner · 3 October 2025WeWork India Management Ltd completed its IPO in early October 2025 on NSE and BSE, raising approximately US$338 million (Rs 3,000 crore) through a 100% offer-for-sale structure led by sponsor Embassy Group. Franchise independently operated after WeWork Companies transferred ownership in 2024. Embassy Group holds majority stake; ICICI Securities initiated BUY coverage with target price of INR 914, citing Embassy backing and growth prospects.
• Apple Indiaanchor enterprise tenantOEM/ Whitelabel/ Licensing Partner · 18 August 2025Apple India leased approximately 2.7 lakh sq ft of office space at Embassy Zenith in Bengaluru for 10 years, starting at Rs 6.3 crore per month with total payments exceeding Rs 1,000 crore; nine floors with 4.5% annual rent escalation and Rs 31.57 crore deposit. (Note: Apple is a tenant/occupier rather than a partner; included as a strategic enterprise relationship per scope.)
• NAM Estates Private Limited (Embassy Group entity)foundational corporate restructuringStrategic or Co-development Partner · 24 January 2025Scheme of amalgamation of NAM Estates Private Limited with Embassy Developments Limited approved by NCLAT on January 7, 2025, and implemented with effect from January 24, 2025, making Embassy Group (Jitendra Virwani, Aditya Virwani and group entities) the new promoter with 42.66% controlling stake; company renamed Embassy Developments Limited effective February 13, 2025.
• Andy Fisher Workshop (Singapore)signature design partnerImplementation/ SI/ Consulting Partner · 1 January 2025Architectural design partnership for premium residential projects including Embassy Boulevard (170 uber-luxury villas across 51 acres in North Bengaluru, designed in five architectural styles with three villas per acre) and Embassy Lake Terraces (nine iconic twisted towers with 467 residences designed by Andy Fisher Workshop from Singapore).
• RSP Architects, Colliers Project Management Services, and Cicada Architecture/Planning (Singapore)master-planning partners for flagship townshipImplementation/ SI/ Consulting Partner · 1 January 2025Embassy Springs 288-acre self-sustained township in North Bengaluru meticulously designed by global innovators including RSP Architects, Colliers Project Management Services and Cicada Architecture/Planning, Singapore, with residential enclaves, high-rise apartments, bespoke club, world-class CBSE school Embassy Academy, 32 community parks, 45+ acres of green space and 18 km internal road network.

Scale indicators15 records

Recent moves9 records

Expansion highlights7 records

Broad incumbents

• DLF Limited: India's largest listed real estate developer with diversified residential, commercial, and retail portfolio. Both companies target the Indian luxury and premium housing market and develop Grade A commercial office space, though DLF operates at significantly greater scale across more geographies.
• Phoenix Mills Limited: Listed Indian real estate company focused on retail-led mixed-use developments (High Street Phoenix, Palladium malls). Comparable commercial real estate DNA to Embassy's commercial business, though Phoenix's portfolio is more retail-mall concentrated versus Embassy's broader commercial office and GCC strategy.

Direct peers

• Macrotech Developers (Lodha): Listed Indian luxury and premium residential developer with strong Mumbai Metropolitan Region focus, directly comparable to Embassy's Embassy Citadel, Juhu, and Alibaug pipeline. Both compete for ultra-luxury and premium homebuyers in MMR and pursue similar large-scale integrated township strategies.
• Prestige Estates Projects: Bengaluru-headquartered listed developer with deep South India presence, residential and commercial portfolio. Most directly comparable peer given shared Bengaluru focus, similar mixed-asset-class strategy (residential, commercial, hospitality, retail), and overlapping customer segments in luxury and premium segments.
• Brigade Enterprises: Bengaluru-based listed real estate developer with residential, commercial, hospitality and education portfolio. Highly comparable to Embassy's integrated business model, Bengaluru micro-market focus, and premium segment positioning. Both serve similar HNI/UHNI customer segments with comparable ticket sizes.
• Godrej Properties: One of India's largest listed residential developers with strong national footprint across Mumbai, Bengaluru, NCR, Pune and Chennai. Comparable product strategy spanning affordable to luxury segments, similar large-scale land bank approach, and competing for marquee enterprise commercial tenants.
• Sobha Limited: Bengaluru-headquartered listed developer with backward-integrated construction capabilities and premium residential portfolio. Comparable focus on quality construction, premium and luxury segments, and South India geographic concentration, particularly Bengaluru.
• Oberoi Realty: Mumbai-based listed developer focused on ultra-luxury and premium residential plus Grade A commercial office space. Directly comparable to Embassy Citadel and other MMR luxury projects given shared focus on ultra-luxury Worli/central Mumbai micro-markets and similar per-sq-ft pricing power.
• Mahindra Lifespace Developers: Listed Indian residential developer with portfolio spanning premium housing and integrated townships. Comparable product strategy in premium and luxury residential plus focus on sustainable development, with similar geographic presence in Bengaluru, Mumbai, and Chennai.
• Brookfield India Real Estate Trust: Listed Indian REIT focused on Grade A commercial office space, directly comparable to Embassy Office Parks REIT. Both compete for institutional commercial office assets, GCC tenants, and benefit from the same SEBI-driven REIT market expansion (Rs 2.3 lakh crore combined GAV across top 5 listed REITs by September 2025).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/EmbassyGroup
• LinkedInlinkedin.com/company/embassy-group
• Instagraminstagram.com/theembassygroup
• Xx.com/theembassygroup

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Embassy Group