Embassy Developments to Invest Rs. 7,000 Cr in Mumbai Homes

Embassy Developments Ltd. (EDL), a Bengaluru-based real estate major, has announced plans to invest over Rs. 4,500 crore in developing three premium residential projects across Worli, Juhu, and Alibaug in the Mumbai Metropolitan Region (MMR).

In addition, the company will invest Rs. 2,500 crore to complete its existing residential projects in the region, according to a statement issued on January 20.

The three new developments will span 1.58 million sq ft of RERA carpet area and together carry a gross development value (GDV) exceeding Rs. 12,000 crore.

Key Highlights

• EDL plans Rs. 7,000 crore investment across new and legacy Mumbai projects
• Three new premium developments to generate Rs. 12,000 crore GDV
• Company targets Rs. 5,000 crore pre-sales in FY26

Project launches are expected to begin from the fourth quarter of FY26. EDL, formerly known as Indiabulls Real Estate Ltd, is a listed company and among India’s leading real estate developers.

EDL’s flagship Mumbai project, Embassy Citadel in Worli, will be an ultra-luxury single-tower development with a GDV of over Rs. 8,800 crore. Spread across nearly 1 million sq ft, it will offer three-, four- and five-bedroom apartments, along with two triplex mansion residences, and feature over 1 lakh sq ft of amenities near the Four Seasons Hotel.

In Juhu, EDL plans a luxury residential project spanning 0.33 million sq ft, with a GDV of Rs. 3,000 crore, comprising around 50 homes designed for multi-generational families. The project is awaiting approvals. The third project, a low-rise lifestyle and second-home development in Alibaug, will cover 0.2 million sq ft and have a GDV of Rs. 400 crore, also pending regulatory clearances.

“For over three decades, the Embassy has focused on creating developments that endure, both in quality and in the way they shape neighbourhoods. Bringing this legacy to Mumbai marks an important step in building a strong pan-India residential presence, grounded in the confidence we have built through consistent execution,” Jitu Virwani, Chairman, Embassy Developments, said.

Aditya Virwani, Managing Director of Embassy Developments, said, "Mumbai represents the country’s most mature residential market, where discerning buyers place a premium on execution quality, credibility and long-term commitment. He noted that the company’s approach is measured, with a focus on a limited set of high-conviction projects rather than volume-driven growth. With a strengthened balance sheet and clearer development visibility," adding Mumbai will form a central pillar of EDL’s next phase of expansion.

Beyond new launches, EDL will complete three legacy housing projects in MMR comprising nearly 5,000 units. Following a year of stabilisation, the company has already delivered six long-pending projects across markets, handing over homes to 3,300 families, including developments in Worli, Lower Parel, and Thane.

Also Read: Embassy Greenshore Sells Rs. 860 Cr Homes in Just Five Days

EDL expects Rs. 5,000 crore in pre-sales in FY26, supported by upcoming launches and a land bank exceeding 3,000 acres. To date, the company has developed over 75 million sq ft across 22 Indian cities, including Bengaluru, MMR, Delhi-NCR, Chennai, and Indore.