Embassy Developments gains on Rs 711 crore residential tower deal

Embassy Developments rose 1.03% to Rs 59.59 after the company said that it has signed a pact for the sale of an entire residential tower at its Embassy Terazza project in Juhu, Mumbai, for approximately Rs 711 crore.

The buyer is Dinesh Thakkar, founder, chairman and managing director of Angel One. Embassy Developments said the residence comprises an entire G+7-storey tower with a RERA carpet area of 63,000 sq ft.

The company described the transaction as the largest single residential unit transaction in India. The project is located on Juhu Tara Road and is an ultra-luxury, low-density development spread across more than 2 acres, with approximately 50 residences.

Embassy Terazza has an estimated gross development value (GDV) of more than Rs 3,000 crore and is being developed by Embassy Developments under a development management model.

The project is part of Embassy Developments' growing residential portfolio in the Mumbai Metropolitan Region. The company's other projects in the region include Embassy Citadel in Worli, Embassy Serenity in Alibaug, Embassy Park in Panvel and Embassy One in Thane.

Embassy Developments, formerly known as Equinox India Developments, develops residential and commercial projects across Bengaluru, the Mumbai Metropolitan Region and the National Capital Region, with a presence in Chennai and Indore. The company has residential projects across mid-income, premium and luxury segments.

On a consolidated basis, Embassy Developments reported net loss of Rs 234.29 crore in Q1 June 2026 as against net loss of Rs 165.85 crore in Q1 June 2025. Net sales declined 68.17% year-on-year to Rs 216.75 crore in Q1 June 2026.

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