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Embassy Developments Ltd has projected revenue of INR 560 crore through development management fees for two new housing projects located in Mumbai and Bengaluru. The company disclosed in its investor presentation that these projects, structured under the DM fee model, carry a total estimated revenue potential of INR 5,600 crore. Despite reporting a consolidated net loss of INR 165.84 crore in the latest quarter, the firm recorded an increase in total income compared with the same period last year.
Embassy Developments Ltd announced in its recent investor presentation for the April-June quarter that it expects to generate INR 560 crore in revenue by managing the development and marketing of two upcoming housing projects. These projects, located in Juhu within the Mumbai Metropolitan Region and in Hebbal, Bengaluru, have been signed under the development management (DM) fee model with the company's promoter group. Advertisement
The DM fee accounts for 10 per cent of the estimated INR 5,600 crore revenue potential for these projects. This initiative is viewed as a strategic step to strengthen the company's development management portfolio while leveraging its expertise in both markets.
In financial performance, Embassy Developments reported a consolidated net loss of INR 165.84 crore in the first quarter of the ongoing fiscal year, compared with a net profit of INR 122.49 crore during the same quarter in the previous year. Nevertheless, total income rose to INR 694.05 crore in the April-June period, higher than the INR 557.52 crore recorded in the corresponding quarter a year earlier.
Embassy Developments Ltd, the flagship company of the Bengaluru-based Embassy Group, is also the promoter of WeWork India and the sponsor of Embassy Office Parks REIT.
The INR 560 crore revenue expected through development management fees underscores the firm's ability to leverage opportunities within high-demand markets. As the flagship of the Embassy Group, the company continues to strengthen its role across both residential and commercial real estate segments.
Source - PTI
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