Thursday, May 2, 2024

Embassy Group FYE 2024 Sales Transaction Value Of Rs.2250 Crore - Achieves 85% Growth

* For FY25, Embassy has a robust line-up of project launches in Bengaluru with a combined gross development value worth Rs.8,000 crore

Embassy Group, a leading real estate developer, achieved its best ever performance in FY2023–24 for its Bengaluru residential business, with a record-breaking sales transaction value of Rs. 2,250 crore – an 85.5% jump from the previous year. Embassy sold 21.18 lakh sq. ft., achieving a year-on-year growth of 103% in area sold. This was primarily fuelled by interest from high-net-worth individuals (HNIs) and non-resident Indians (NRIs) in ready-to-move-in luxury projects, premium homes with differentiated amenities, and self-sustaining integrated townships. 

Notably, Embassy Group achieved realisation of Rs. 15,925 per square foot for its built projects. Furthermore, plots recorded a realisation of Rs. 7,195 per square foot. The overall net average realisation across the residential portfolio stood at an impressive Rs. 12,915 per square foot, the highest in Bengaluru, cementing Embassy Group's position as a premium real estate developer delivering unmatched quality to its customers.

Speaking on the success of the residential business and plans for FY25, Aditya Virwani, COO of Embassy Group, said, “We are extremely proud of our exceptional performance in the last year. Our residential sales of Rs. 2,250 crore includes collections amounting to Rs. 1,464 crore. This remarkable achievement is a testament to our strategic focus on strengthening and investing in the residential segment. As we anticipate a sustained upcycle in the country’s housing market in the coming years, we are committed to maintaining this momentum. With demand increasingly consolidating towards Grade A developers, we aim to replicate the same level of success we've achieved in the office leasing market within the residential sector.”

“We have secured a meaningful pipeline of Rs. 8000 crore GDV or 7 million sq. ft. of residential launches in FY25, many of which will be developed under our future asset agreement with Indiabulls Real Estate (IBREL). We are also eagerly looking for and exploring new opportunities beyond our existing pipeline,” he added. 

In recent years, the luxury housing sector in India has expanded significantly due to evolving lifestyles, rising disposable incomes, and a thriving aspirational class. The demand for homes from Grade A developers has been particularly pronounced in major metropolitan cities, along with the emergence of new micro-markets characterised by upscale developments and premium infrastructure. As India's economy continues its momentum, the housing sector is poised for sustained growth, presenting lucrative opportunities for developers to cater to the discerning preferences of homebuyers.

About Embassy Group

Embassy Group is a leading real estate developer. The over 70 million square feet of commercial, residential, industrial and warehousing, hospitality, services, retail, and education spaces we have delivered emphasise high standards of quality, world-class services, environmental management, and safety. Founded in 1993, our operations now span the Indian and international markets of Bengaluru, Chennai, Hyderabad, Thiruvananthapuram, Mumbai, Pune, the NCR, Serbia, and Malaysia. Our 45 million sq. ft. of ready and ongoing residential developments encompass branded residences, uber-luxury villas, exclusive villaments, sky condominiums, integrated developments, senior living, and contemporary homes. Embassy is a sponsor of India’s first publicly listed and Asia Pacific’s largest Real Estate Investment Trust (REIT). We strive to build a resilient ecosystem and proactively foster the social, economic, and environmental development of the communities we work in. Further information is available at

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