Realty firm Embassy Developments will invest ₹1,500 crore to construct a 3 million sq ft office complex in Bengaluru as part of its strategy to generate rental income from commercial assets. According to reports from Business Standard, the company is mainly into the housing segment with presence across Bengaluru, Mumbai Metropolitan Region (MMR) and Delhi-NCR. In an interview with PTI, Embassy Developments Managing Director Aditya Virwani mentioned that the company's focus would largely remain on the growing residential business, while building office assets for rental income.
Virwani said the company will develop a large 35-acre office complex in Bengaluru comprising 6 million sq ft area in two phases. As reported by Business Standard, the construction of the first phase covering 3 million sq ft has started, with the investment for this phase being around ₹1,500 crore, excluding land cost. The office spaces will be leased to corporates, with Virwani noting that the demand for prime workspaces continues to be strong especially from foreign players who want to set up Global Capability Centres (GCCs) in India.
On the residential front, Virwani highlighted that sales bookings last fiscal more than doubled to ₹4,631 crore on strong consumer demand. According to Business Standard, for the current fiscal, the company has set a target to achieve ₹8,000 crore worth of sales bookings, which includes ₹2,000 crore worth of sales in a housing project that the company is building on a DM (development management) model. Embassy Developments will launch nearly ₹20,000 crore worth of homes this fiscal to expand business and cater to rising demand.
In 2025-26, Embassy Developments posted a net loss of ₹872.47 crore, compared to a profit of ₹193.63 crore in the previous year. As reported by Business Standard, the total income declined to ₹1,905.12 crore in the last fiscal from ₹2,546.97 crore in 2024-25. The company has a land bank of more than 3,000 acres across major cities.
Apart from Embassy Developments, the Embassy Group owns coworking firm WeWork India and is sponsor of listed Embassy Office Parks REIT, both of which are listed on stock exchanges. The Group also runs co-living business named 'Olive by Embassy'. According to Business Standard, Embassy Developments, erstwhile Indiabulls Real Estate Ltd, is one of the leading real estate companies in India and is now part of Bengaluru-based Embassy Group.
