Embassy Developments Limited has approved the re-designation of Aditya Virwani as Managing Director & Chief Executive Officer, effective January 1, 2027. This move ensures leadership continuity following the resignation of Sachin Shah as CEO & Executive Director.

The Board of Directors noted the resignation of Sachin Shah from his position as CEO & Executive Director with effect from the close of business hours on December 31, 2026. While Shah will cease to hold the executive role, he remains associated with the company and Embassy Group as Senior Advisor to the Chairman and the Managing Director & CEO starting January 1, 2027.

Leadership transition details

The re-designation of Aditya Virwani was approved based on the recommendation of the Nomination and Remuneration Committee. The decision aims to ensure stability and facilitate a seamless transition. Virwani’s term extends for the remainder of his existing appointment period, which runs up to February 24, 2030, on existing terms and conditions.

Strategic context and performance

The Board highlighted that FY26 was a year of strong execution and record performance under Virwani’s leadership as Managing Director, guided by Chairman Jitendra Virwani. The company entered FY27 with a robust pipeline of 11 projects across Bengaluru, Mumbai, and its initial pilot in the National Capital Region.

Sachin Shah, in his resignation letter dated September 30, 2026, stated that his departure is part of a planned succession strategy coordinated with Chairman Jitendra Virwani and Managing Director Aditya Virwani. Shah noted that during his tenure, which began in February 2023 at Indiabulls Real Estate Limited (IBREL), the company addressed balance sheet issues and completed its merger with Embassy in January 2025.

Shah mentioned that IBREL was on track to achieve ₹8,000 crore in pre-sales in the current year. He expressed confidence in Virwani’s ability to drive the next phase of growth, citing Virwani’s role in integrating IBREL and Embassy into the current entity.

What the numbers show

The leadership change coincides with a significant operational milestone disclosed by the outgoing CEO: a projected pre-sales figure of ₹8,000 crore for the current fiscal year. This figure serves as a key metric for evaluating the platform's market traction post-merger. The transition retains institutional knowledge by keeping Shah as Senior Advisor, ensuring that the strategic continuity emphasized by the Board is supported by historical context from the IBREL integration period.

Embassy Developments Limited reported Q2FY27 pre-sales of ₹3,225 crore, up 272% from the prior quarter, as the company launched three projects valued at ₹7,500 crore during the period.

H1FY27 pre-sales totalled ₹4,093 crore, achieving 51% of the company's FY27 target. Q2FY27 collections reached ₹546 crore, an increase of 10% from the prior quarter. The strong quarterly performance was supported by the launch of Embassy Origins in North Bengaluru, which alone recorded pre-sales of over ₹1,800 crore at launch, with 62% absorption of launched units within a week of the September 16, 2026, launch.

Q2FY27 financial highlights

The table below summarises Embassy Developments' key operational metrics for Q2FY27.

Embassy Origins: project scale and composition

Embassy Origins, launched in North Bengaluru, spans 85 acres and recorded bookings for 477 homes covering more than 10 lakh sq ft of saleable area. The project is located north of Yelahanka, approximately 20 minutes from Kempegowda International Airport, and comprises two RERA-registered projects: Embassy Riverine and Embassy South Reserve.

Design and strategic positioning

Embassy Origins is anchored in the company's 'Natural Intelligence' philosophy, where natural systems shape the masterplan. Designed by Bhumiputra Architecture, the community features a central riparian corridor of approximately 41 acres linking five interconnected lakes. The site includes approximately 4,000 native trees across more than 100 species, forming a continuous green spine through the development.

Market response

Reeza Sebastian, Chief Revenue Officer - Residential at Embassy Developments, stated that the launch of Embassy Origins saw one of the strongest responses in the company's history. She noted that the demand reinforces conviction in design-led, nature-first development and provides strong visibility on FY27 pre-sales and cash flows.

This performance builds on the company's track record in North Bengaluru, including the sell-out of Embassy Greenshore and Embassy Verde Phase II. With all RERA approvals secured prior to launch, Phase 1 is poised for accelerated execution.