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Embassy Developments Ltd is considering the sale of a key commercial project in Whitefield, Bengaluru, valued between INR 3,200 crore and INR 3,700 crore. The 3.3 million sq. ft. project may be offered to Embassy Office Parks REIT, pending shareholder and regulatory approvals. The move aligns with Embassy's portfolio monetisation and REIT-focused strategy. The company, formerly Indiabulls Real Estate, reported a consolidated net profit of INR 122.98 crore for Q4 FY25, reversing a loss of INR 99.21 crore year-on-year. Quarterly income rose to INR 1,182.61 crore, while full-year FY25 net profit reached INR 193.63 crore, compared to a prior loss of INR 517.39 crore. Annual income also doubled to INR 2,546.97 crore. Embassy's potential collaboration with its REIT platform underscores the industry's growing shift towards asset optimisation and structured exits in India's commercial real estate market.
Real estate major Embassy Developments Ltd has proposed the sale of one of its significant commercial projects in Whitefield, Bengaluru, with an estimated value between INR 3,200 crore and INR 3,700 crore. This initiative forms a part of the company's ongoing strategy to monetise its portfolio of assets. Advertisement
The company conveyed in a regulatory filing earlier this week that its Board had taken note of the ongoing consideration to divest this particular project. Embassy Developments indicated that an acquisition opportunity would be presented to Embassy Office Parks REIT. This project, once completed, is expected to offer a total potential leasable area of approximately 3.3 million square feet.
According to the firm, the proposal is still in a preliminary stage and would require several formalities including the signing of definitive agreements and securing approvals from relevant stakeholders, third parties, and shareholders.
In terms of financial performance, the company reported a consolidated net profit of INR 122.98 crore in the quarter ending this March. This marks a turnaround from a net loss of INR 99.21 crore in the same period a year ago. Its total income during the quarter rose substantially to INR 1,182.61 crore, up from INR 401.54 crore during the same timeframe the previous year.
For the full financial year 2024-25, the company recorded a net profit of INR 193.63 crore, rebounding from a net loss of INR 517.39 crore in the preceding fiscal. Total income for the same period surged to INR 2,546.97 crore, compared to INR 1,217.53 crore reported in the 2023-24 fiscal.
Embassy Developments, previously known as Indiabulls Real Estate, continues to hold a significant position in India's real estate sector, with a growing focus on commercial assets and REIT-aligned strategies.
By potentially collaborating with Embassy REIT, the company also reinforces its integrated platform approach, leveraging synergies within its group. The substantial improvement in Embassy's financials over the past year supports the strength of its strategic pivot. While the sale remains subject to several approvals, it reflects the ongoing trend among major developers to optimise asset usage and fuel future growth through REIT partnerships and structured exits.
Source - PTI
5th Jun, 2025
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