Embassy Group's luxury housing sales surge in FY23

02 Jun 2023 CW Team

Bangalore-based real estate developer Embassy Group has recorded one of its best ever financial years, with revenue of ₹1,370 crore in 2023, a 210% increase from the previous year. The company sold 10.73 lakh square feet of luxury housing, which is largely priced over ₹2 crore. The average price per square foot was ₹11,615, one of the highest in Bengaluru.

Reeza Sebastian Karimpanal, Executive President – Residential Business, Embassy Group, said, "With a strong focus on project completion, Embassy Group achieved healthy sales bookings through FY23, supported by sustained homebuyer interest for high-quality products. Our efforts were aimed at the sale of our existing projects to pave the way for upcoming ones in FY24."

The company plans to increase its project pipeline to launch at least four new residential projects in FY24, with a development potential of 5 million square feet and an expected gross revenue of over ₹3,000 crore.

Bengaluru's luxury housing market has been growing rapidly in recent years, with a number of new projects being launched in the city. The growth of the luxury market is being driven by a number of factors, including the increasing affluence of the city's residents, the growing demand for high-quality housing, and the availability of land for development.

North Bengaluru is the epicentre of growth in the city's luxury market. The area is home to a number of global investments and luxury lifestyles. According to a report by Knight Frank, North Bengaluru recorded the fastest sales growth of 134% Y-O-Y during H2 2022, followed by the South and East.

The growth of the luxury market is a positive sign for the city's real estate sector. It indicates that there is a strong demand for high-quality housing in Bengaluru and that the city is still attractive to investors.

Also Read
MMRDA proposes TOD charge for projects near Metro 7
India may need up to 27 GW new coal-based power plants

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..