Embassy Developments Enters Mumbai Housing Market

23 Jan 2026 CW Team

The company plans to invest around Rs 45 billion to develop three residential projects across Worli, Juhu and Alibaug. According to EDL, the projects will have a combined gross development value of more than Rs 120 billion and a total development footprint of approximately 1.58 million square feet of RERA carpet area. Project launches are scheduled to begin from the fourth quarter of FY2026.

EDL stated that it has delivered more than 21 million square feet of residential projects across South India, underlining its track record in large-scale development. Over the past year, the company has focused on strengthening governance and stabilising operations. Since assuming operational control, it has completed and handed over six long-pending residential projects, delivering homes to more than 3,300 families. This includes three projects in Mumbai located in Worli, Lower Parel and Thane.

Commenting on the expansion, Jitu Virwani, Chairman of Embassy Developments Ltd., said that the group has spent over three decades creating developments that endure in quality and urban impact. He noted that entering Mumbai marks an important step in building a strong national residential presence, backed by consistent execution and long-term value creation.

The company reported pre-sales of about Rs 13.92 billion in Q3 FY2026, representing a quarter-on-quarter growth of around 240 per cent compared with Rs 4.09 billion in Q2 FY2026. For the nine months ended FY2026, cumulative pre-sales stood at Rs 19.99 billion, with Q1 FY2026 pre-sales at Rs 1.98 billion.

Shares of Embassy Developments Ltd settled at Rs 63.04 on Tuesday, down Rs 3.31, or 4.99 per cent, from the previous close, reflecting market reaction amid broader sector dynamics.

With its entry into Mumbai, Embassy Developments aims to strengthen its presence in premium residential markets, leveraging its development expertise and growing demand for high-end housing in India’s financial capital.

Embassy Developments Ltd (EDL) has announced its expansion into the Mumbai Metropolitan Region (MMR), marking its first residential developments in the city under the Embassy brand. The move signals a strategic push to establish a pan-India residential presence in one of the country’s most competitive property markets. The company plans to invest around Rs 45 billion to develop three residential projects across Worli, Juhu and Alibaug. According to EDL, the projects will have a combined gross development value of more than Rs 120 billion and a total development footprint of approximately 1.58 million square feet of RERA carpet area. Project launches are scheduled to begin from the fourth quarter of FY2026. EDL stated that it has delivered more than 21 million square feet of residential projects across South India, underlining its track record in large-scale development. Over the past year, the company has focused on strengthening governance and stabilising operations. Since assuming operational control, it has completed and handed over six long-pending residential projects, delivering homes to more than 3,300 families. This includes three projects in Mumbai located in Worli, Lower Parel and Thane. Commenting on the expansion, Jitu Virwani, Chairman of Embassy Developments Ltd., said that the group has spent over three decades creating developments that endure in quality and urban impact. He noted that entering Mumbai marks an important step in building a strong national residential presence, backed by consistent execution and long-term value creation. The company reported pre-sales of about Rs 13.92 billion in Q3 FY2026, representing a quarter-on-quarter growth of around 240 per cent compared with Rs 4.09 billion in Q2 FY2026. For the nine months ended FY2026, cumulative pre-sales stood at Rs 19.99 billion, with Q1 FY2026 pre-sales at Rs 1.98 billion. Shares of Embassy Developments Ltd settled at Rs 63.04 on Tuesday, down Rs 3.31, or 4.99 per cent, from the previous close, reflecting market reaction amid broader sector dynamics. With its entry into Mumbai, Embassy Developments aims to strengthen its presence in premium residential markets, leveraging its development expertise and growing demand for high-end housing in India’s financial capital.

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