Embassy Developments will host a meeting for analysts and institutional investors on July 9, 2026, in Mumbai. The non-deal roadshow (NDR) is scheduled to begin at 10:30 AM IST. The company stated that discussions during the meeting will be based on publicly available information and no unpublished price sensitive information (UPSI) is intended to be shared.

The meeting is being organized by JM Financial. The schedule is subject to change due to exigencies on the part of the participants or the company.

Meeting Details

The intimation was submitted to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Vikas Khandelwal, Company Secretary.

Embassy Developments Limited has signed a non-binding Memorandum of Understanding (MoU) with the Government of Uttar Pradesh for a proposed commercial real estate development in Lucknow. The indicative proposal, signed under the Invest UP framework, envisages an investment of approximately ₹1,500 crore to develop 2.5 to 3.0 million square feet of premium office-led commercial space. This agreement marks the company's proposed entry into the commercial real estate market of Uttar Pradesh.

The MoU was signed on June 24, 2026, in Bengaluru. The ceremony was attended by key state officials, including Shri Yogi Adityanath, Honourable Chief Minister of Uttar Pradesh, and Shri Suresh Kumar Khanna, Honourable Minister of Finance and Parliamentary Affairs. Shri Deepak Kumar, Infrastructure & Industrial Development Commissioner, was also present. Senior executives from the company, including Shailendra Konanur Subbaraya, COO – South, and Amit Shetty, CEO of Embassy REIT, were also in attendance.

Jitendra Virwani, Chairman of Embassy Group, highlighted the strategic importance of the project. He stated that Uttar Pradesh is emerging as a compelling growth frontier due to its infrastructure momentum and policy focus. Virwani noted that Lucknow has the potential to become a strong commercial hub, and the company aims to bring its experience in building institutional-grade business ecosystems to the state.

Project Details

The proposed development is subject to definitive agreements and necessary approvals. The key parameters of the indicative proposal are outlined below:

Embassy Developments Limited is a listed real estate developer specialising in residential and commercial projects across key urban markets such as Bengaluru, the Mumbai Metropolitan Region, and the National Capital Region.