Embassy Developments has announced a significant milestone in its real estate portfolio. The company's latest luxury plotted development, 'Paradiso,' located within the Embassy Springs township in North Bengaluru, has completely sold out, generating a total revenue of ₹204.00 crore.

Project Details

Paradiso, spanning approximately 6.4 acres, offers large-format plots ranging from 4,300 to 4,800 square feet. The plots were priced starting at ₹4.30 crore, attracting high-net-worth individuals and new-age buyers looking for premium residential plots in low-density, infrastructure-ready communities.

Strategic Location

The project is part of Embassy Springs, the largest integrated township in North Bengaluru. Situated just 15 minutes from Kempegowda International Airport, Embassy Springs boasts over 100 amenities, 45 acres of green open spaces, and an 18-kilometre internal road network. The township, launched in 2016, has evolved into a fully established urban ecosystem, featuring a school, senior living facility, and wellness zones.

Market Trends

Shailendra Subbaraya, Chief Operating Officer – South at Embassy Developments, commented on the swift sell-out, noting two significant shifts in the residential market:

1. A growing preference among new-age buyers for plotted living within integrated communities.
2. Sustained interest in North Bengaluru as a future-ready residential hub.

Subbaraya stated, "Today's homebuyer is looking beyond just an apartment; they want space, flexibility, community infrastructure, and long-term appreciation. Plotted developments like Paradiso allow us to meet these aspirations while also unlocking value through capital-efficient formats."

Future Plans

With the success of Paradiso and the thriving Embassy Springs ecosystem, Embassy Developments is gearing up to accelerate its next phase of launches. The company aims to capitalize on the strong demand for its real estate offerings in the North Bengaluru market.

About Embassy Developments

Embassy Developments, formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited, is a leading real estate developer in India. The company specializes in residential, commercial, and Special Economic Zone (SEZ) projects across major Indian cities, with a strategic focus on Bengaluru, the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR).

The company's diverse residential portfolio includes:

• Branded residences
• Uber-luxury apartments and villas
• Exclusive townhomes
• Condominiums
• Integrated townships
• Senior living communities
• Contemporary homes across various market segments

Embassy Developments is committed to building resilient ecosystems and fostering social, economic, and environmental progress in the communities it serves. The company has a long-term debt rating of IVR A- Stable from Infomerics.

The success of the Paradiso project underscores Embassy Developments' strong position in the luxury real estate market and its ability to meet the evolving demands of high-end property buyers in Bengaluru's rapidly growing northern corridor.

Embassy Developments Limited (EDL), a prominent player in the real estate sector, has announced significant changes to its leadership and auditing structure, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Board Recommends Director Re-appointments

The board of directors has recommended the re-appointment of several key figures:

• Sachin Shah: Current Chief Executive Officer (CEO) and Executive Director, who retires by rotation, has been proposed for re-appointment.
• Independent Directors: Three Non-Executive Independent Directors - Javed Tapia, Shyamm Mariwala, and Tarana Lalwani - have been recommended for re-appointment, each for a second term of three years.

Proposed Changes in Auditing Structure

The board has also recommended changes to the company's auditing structure:

• Statutory Auditors: M/s Agarwal Prakash & Co., Chartered Accountants, has been proposed for re-appointment as Statutory Auditors for a second term of five consecutive years, from FY 2026 to FY 2030.
• Secretarial Auditors: The board has recommended the appointment of M/s GDR & Partners LLP, Company Secretaries, as Secretarial Auditors for a five-year term from FY 2026 to FY 2030.
• Cost Auditors: M/s Gurvinder Chopra & Co., Cost Accountants, has been appointed as Cost Auditors for FY 2025-26.

Timeline and Approval Process

The proposed changes are set to take effect at various points:

• Mr. Javed Tapia's second term as Independent Director would commence from February 27, 2026.
• Mr. Shyamm Mariwala and Ms. Tarana Lalwani's second terms would start from March 1, 2026.
• The re-appointment of Statutory Auditors and appointment of Secretarial Auditors would be effective from FY 2026 to FY 2030.

All these recommendations, except for the appointment of Cost Auditors, require shareholder approval at the upcoming AGM.

Company Background

Embassy Developments Limited, formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited, is a key player in the real estate sector. The company maintains offices in Bangalore, Mumbai, and Gurugram, highlighting its pan-India presence in the real estate market.

These proposed changes reflect Embassy Developments' commitment to maintaining strong corporate governance and ensuring continuity in its leadership and auditing processes. Shareholders will have the opportunity to vote on these recommendations at the forthcoming AGM, the details of which will be communicated separately within the statutory timelines.