Embassy Developments Appoints New Leadership, Plans Expansion

01 Mar 2025 CW Team

Embassy Developments Limited (EDL) has appointed Jitendra Virwani as Chairman and Aditya Virwani as Managing Director, following a board decision on February 25, 2025. Sachin Shah will continue as CEO & Executive Director, and Rajesh Kaimal has been named CFO & Executive Director.

Under its growth strategy, EDL has announced asset acquisitions worth Rs 5.59 billion (bn), including a 1.3 million sq. ft. luxury residential project and a 9.5-acre land parcel in North Bengaluru. The company is also planning a Rs 20 bn Qualified Institutional Placement (QIP) to support expansion and optimize its capital structure.

To attract top talent, EDL will roll out an employee stock option plan worth Rs 45 million. The leadership team has been further strengthened with key appointments, including Vikas Khandelwal as Company Secretary and Group Chief Compliance Officer, and Shailendra Subbaraya as COO – South.

Sachin Shah, CEO & Executive Director, said, “With eight new projects launching in FY 2026, spanning 7.7 million sq. ft. and a gross development value of Rs 150 bn, EDL is set for significant growth.”

An Extraordinary General Meeting (EGM) on March 25, 2025, will seek shareholder approval for key corporate actions. The Embassy Group will abstain from voting on related-party transactions to ensure corporate governance transparency.

Infrastructure Transport

06 May 2026

Pune To Build Nine Km Link Road Between Highways

The Pune Municipal Corporation (PMC) has decided to appoint an expert to plan the development of a nine km long, 60 metre wide road from Khadi Machine chowk to Wadki chowk as an extension to the Katraj-Kondhwa road to link the Mumbai-Satara and Pune-Solapur national highways. The scheme is intended to divert heavy vehicle traffic away from the city and improve access between the two arterial routes. The project has been prioritised by the PMC and forms part of a larger set of schemes in which 19 roads have been identified for development at a combined cost of Rs 9.82 billion (bn) to address c..

Barabanki Bahraich Six Lane Highway Approved in Uttar Pradesh

The Uttar Pradesh government has approved construction of a new six-lane highway linking Barabanki and Bahraich as part of National Highway 927, and the cabinet has cleared the project. The alignment will pass through Mustafabad and Kaiserganj and extend for about 101.5 km, creating a key corridor for local and long-distance movement. The National Highways Authority of India will oversee the work and has signalled the scheme is intended to strengthen regional connectivity and cross-border access to Nepal. The project carries an estimated total cost of Rs 69,690 million, equivalent to Rs 69.69..

Toll At Kharegaon Likely As Highway Upgrade Nears Completion

A section of the highway at Kharegaon has undergone an upgrade and is approaching completion, and authorities have indicated plans for a toll to be introduced once works finish. The project has focused on strengthening the carriageway, improving drainage and upgrading intersections to enhance safety and capacity. Officials have said the toll will be used to recover construction costs and fund ongoing maintenance. The upgrade included resurfacing of the pavement, widening of certain stretches and installation of modern signage and lighting to reduce accident risk. Contractors completed most ma..