Tag: Embassy Group

CommercialLatest Stories

Embassy Office Parks’ Q1 FY27 NOI Soars 17% to ₹1,020 Crore

NEW DELHI: Embassy Office Parks REIT announced a 17% year-over-year increase in net operating income (NOI), amounting to ₹1,020 crore for the quarter ending June 30, 2026. Net consolidated total income rose by 16.6% to ₹1,260 crore in Q1 FY27, compared to ₹1,080.81 crore during the same period last year. The REIT’s net consolidated profit after tax surged 25.8% to ₹195.21 crore from ₹155.16 crore in Q1 FY26. The board of directors of Embassy Office Parks Management Services, which manages Embassy REIT, has approved a distribution of ₹598.12 crore, translating to ₹6.31 per unit for the quarter. This distribution includes…

CommercialLatest Stories

Embassy to Invest ₹1,500 Crore in 3M Sq Ft Office Space in Bengaluru

NEW DELHI: Embassy Developments is set to invest ₹1,500 crore in the construction of a 3 million sq ft office complex in Bengaluru, aligning with its aim to diversify income streams from commercial properties. The firm primarily operates in the housing sector, with a notable presence in Bengaluru, the Mumbai Metropolitan Region (MMR), and Delhi-NCR. In an interview with PTI, Managing Director Aditya Virwani emphasized that while the residential business remains a priority, the company plans to develop office spaces to generate rental income. Virwani noted that a significant 35-acre office complex will be built in Bengaluru, totaling 6 million…

CommercialLatest Stories

Embassy Developments Signs MoU for ₹1,500 Crore Project in UP

NEW DELHI: Embassy Developments has finalized a non-binding memorandum of understanding (MoU) with the Uttar Pradesh government for a proposed commercial real estate project in Lucknow. The preliminary proposal, signed under the Invest UP initiative, plans for the development of approximately 2.5-3 million sq ft of office-centric commercial real estate, with an estimated investment of around ₹1,500 crore. This development will signify Embassy Developments’ entry into the commercial real estate sector within the state. “Lucknow has the potential to transform into a robust commercial hub for the next phase of India’s office-led growth,” stated Jitendra Virwani, chairman of Embassy Group.…

IndustryLatest Stories

Embassy Group Slams REIT Petition; Bombay HC Gives Sebi 6 Weeks

MUMBAI: Embassy Group, a leading real estate company, has characterized a recent writ petition questioning the “fit and proper” status of certain entities and promoters linked to Embassy Office Parks REIT as a “recycled claim.” This allegation is reportedly part of a persistent campaign orchestrated by Sterling & Wilson. The Bombay High Court has allowed the Securities and Exchange Board of India (SEBI) six weeks to review the representations made by the petitioner. In a statement following the hearing, Embassy Group claimed the petition filed by Chayan Upadhyay is part of a “continuing, orchestrated campaign” targeting the group and its…

Latest StoriesRegulatory

Indiabulls Real Estate: Four Firms Settle ₹10.5 Crore with Sebi

NEW DELHI: Market regulator Sebi announced the settlement of proceedings against four entities involved in an alleged fund diversion case linked to the former Indiabulls Real Estate Ltd (IBREL), with a total settlement of approximately ₹10.49 crore. The entities—Agnes Developers Pvt Ltd, Everlast Projects Pvt Ltd, Lincoln Developers Pvt Ltd, and Deneb Developers Pvt Ltd—resolved the issue “without admitting or denying the findings of fact and conclusions of law,” as stated in the settlement order. Following the merger of Indiabulls Real Estate Ltd with Bengaluru’s Embassy Group, Embassy became the primary promoter of IBREL, later rebranding it as Embassy Developments…

IndustryLatest Stories

Embassy Group pays off ₹1,748 crore debt

NEW DELHI: Embassy Group has successfully repaid ₹1,748 crore in non-convertible debentures (NCDs), using funds from the WeWork India IPO offer for sale to lower its group-level debt. Jitendra Virwani, the company’s chairman, stated, “This debt repayment not only strengthens our financial stability but also highlights our ongoing commitment to a solid and sustainable financial framework.” This move has also reduced the group’s stake in WeWork India to 15%. Over the years, it has fully settled its ₹1,600 crore debt with Samaan Capital. Published On Oct 15, 2025 at 03:33 PM IST Join a community of over 2M industry professionals.…

CommercialLatest Stories

CLSA Sells 8.4 Lakh WeWork India Shares for ₹52 Crore

Global markets and asset management firm CLSA divested approximately 8.4 lakh shares in WeWork India Management through a bulk deal on Monday, with shares priced at Rs 618.55 each, totaling Rs 52 crore. The transaction was conducted via CLSA Global Markets Pte. LTD – ODI, reflecting a 1.6% discount from the previous Friday’s closing price of Rs 628.65 on the NSE. WeWork Management’s shares took a hit for the second consecutive day, closing at Rs 611.20, down Rs 17.45 or 2.8% from Friday’s closing figure. After debuting on Friday, the stock is now trading at 6% below its issue price…

CommercialLatest Stories

WeWork India IPO Closes at 1.15x Subscribed on Final Day

NEW DELHI: The initial public offering (IPO) of WeWork India Management Ltd was successfully subscribed 1.15 times on the final day of the sale, thanks in large part to institutional investors. The IPO, valued at Rs 3,000 crores, received bids for 2,92,68,328 shares against 2,54,89,748 shares on offer, as reported by NSE data. In the Qualified Institutional Buyers (QIBs) category, the subscription rate reached 1.79 times, while the Retail Individual Investors (RIIs) segment drew 61% interest. The non-institutional investors’ portion saw a subscription of 23%. WeWork India has secured over Rs 1,348 crores from its anchor investors. The company’s issue…

CommercialLatest Stories

WeWork IPO Sees 13% Subscription on Day Two

NEW DELHI: The initial public offering (IPO) of WeWork India Management Ltd, a co-working space operator, has seen a 13% subscription rate by the second day of the share sale on Monday. According to NSE data, the IPO has received bids for 3,423,780 shares out of the 25,489,748 shares offered. In terms of investor categories, the Retail Individual Investors (RIIs) segment has been subscribed at 37%, while the Qualified Institutional Buyers (QIBs) and non-institutional investor quotas received 9% and 6% subscriptions, respectively. WeWork India has raised over ₹1,348 crore from anchor investors. The ₹3,000 crore issue will close on Tuesday,…

CommercialLatest Stories

WeWork IPO Sees 4% Subscription on Opening Day

NEW DELHI: WeWork India Management Ltd’s initial public offering (IPO) saw a 4% subscription on its opening day of share sales on Friday. The IPO attracted bids for 1,110,440 shares, compared to the 25,489,748 shares available, according to NSE data. The retail individual investors’ (RII) segment was subscribed at 14%, while both the qualified institutional buyers and non-institutional investors’ segments saw subscriptions of 2% each. WeWork India has secured over Rs 1,348 crore from anchor investors. The company’s Rs 3,000-crore issue will close on October 7, with a price band set between Rs 615 and Rs 648 per share, which…