Embassy Developments has awarded a construction contract valued at over ₹850 crore to Leighton Asia for the Embassy Citadel project in Worli, Mumbai. The contract covers the complete civil and structural works package for the ultra-luxury residential development, marking the company's strategic expansion into Mumbai's residential market.

Project Overview

Located on Dr. Elijah Moses Road, the Embassy Citadel project is a single-tower development spanning approximately 1.6 million sq. ft., with an estimated gross development value of around ₹8,800 crore. The development will comprise 316 residences across 3, 4, and 5-bedroom configurations, along with two exclusive triplex mansion homes. The tower will rise approximately 300 metres and feature about 1 lakh sq. ft. of amenities across seven lifestyle floors and a 79th-floor Sky Lounge.

The following table summarises the key parameters of the Embassy Citadel project:

Leadership Statements

Parag Saraiya, Chief Operating Officer – North & West, Embassy Developments Ltd., highlighted the project's focus on engineering precision and construction quality, noting that Leighton Asia's global expertise in delivering complex high-rise developments made them a natural partner for the project. Juan Santamaria, Chief Executive Officer of ACS Group and HOCHTIEF and Executive Chairman of CIMIC Group, noted that the award demonstrates the group's capability in delivering high-rise residential developments, emphasising their experience in complex urban environments and commitment to safety and quality.

Design and Consultants

The project has been designed in collaboration with an international consultant team, including ADA Architecture, STX Landscape Architects, Studio HBA, and Thornton Tomasetti.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE069I01010/291ce32f46f74a86.pdf

Embassy Developments Limited has struck off its wholly owned subsidiary, Dev Property Development Limited (DPDL), as part of an initiative to simplify its corporate structure and reduce administrative and compliance costs. The subsidiary was dissolved on June 10, 2026, and has ceased to be a subsidiary of the company. This move is part of the company's ongoing strategy to streamline operations.

The company clarified that the strike-off does not qualify as a sale of any unit, division, or substantially the whole of the undertaking or subsidiary. Consequently, the transaction does not involve any financial consideration or impact on revenue or net worth. The disclosure was made in the format prescribed under the SEBI Master Circular dated January 30, 2026.

The following table details the disclosure requirements as per Regulation 30 of the SEBI LODR Regulations:

The voluntary strike-off was intimated to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that all applicable fields in the disclosure format were either "Nil" or "Not Applicable" due to the nature of the disposal.