Embassy Developments plans Rs 4,500 crore investment in new Mumbai projects

Realty developer Embassy Developments, as a part of its strategic expansion into the Mumbai Metropolitan Region, is planning to invest over Rs 4,500 crore to develop three new projects in central Mumbai’s Worli, suburb Juhu, and coastal town Alibaug.

All these projects are estimated to hold development potential of 1.58 million sq ft of RERA carpet area and gross development value of Rs 12,000 crore, said top officials of the company.

“Mumbai has the deepest residential market in the country…Our strategy here is deliberate, we are not pursuing volume but building a small number of high-conviction developments,” said Aditya Virwani, MD, Embassy Developments.


In addition to these new projects, the company will be also investing funds to support ongoing projects in Panvel, taking total investment to Rs 7,000 crore and GDV to Rs 18,000 crore.

“We will leverage our development capabilities, hospitality-led residential experiences, and understanding of customers to build a distinct luxury residential presence in Western India,” said Jitu Virwani, Chairman, Embassy Developments while highlighting the company’s expansion plan.

Embassy Group’s NAM Estates has recently concluded amalgamation with listed Indiabulls Real Estate and the resultant company is now known as Embassy Developments.

Since taking operational control, the company has completed and handed over 3,300 apartments in six long-pending residential projects under the EDL platform. These include three projects in Mumbai’s Worli, Lower Parel, and Thane.

Embassy Group has so far delivered more than 75 million sq ft across 22 cities through a portfolio across residential, commercial, flexible workspaces, hospitality, education, and property management.