Indiabulls Real Estate, along with its subsidiary Fama Real Estate, has significantly bolstered its real estate portfolio through strategic acquisitions of several residential projects from Embassy Property Developments (EPDPL) in Bengaluru and Chennai. As detailed in a recent BSE filing, these acquisitions mark a major advancement for the company.
Embassy Residency in Chennai
The flagship acquisition is Embassy Residency, a high-rise residential project planned for OMR, Chennai. Covering approximately 8.2 acres, this development is set to feature around 1.4 million square feet of saleable area. Indiabulls Real Estate secured this project by purchasing RGE Constructions and Development from EPDPL for Rs 119.55 crore. Embassy Residency is strategically located to tap into the high demand for modern residential spaces in Chennai, offering a prime living environment with modern amenities.
Embassy Eden in Bengaluru
Another key acquisition is Embassy Eden, a villa development project in North Bengaluru. This expansive project spans about 31.30 acres, providing a saleable area of approximately 0.7 million square feet. Indiabulls acquired this project through a capital infusion of Rs 465.71 crore into Sion Eden Developers. Embassy Eden aims to offer luxurious villa living in one of Bengaluru’s fastest-growing and well-connected areas, catering to the upscale residential market.
Embassy East Avenue in Whitefield
In Whitefield, Bengaluru, Indiabulls Real Estate has acquired Embassy East Avenue, a residential development project covering about 3.75 acres with a saleable area of around 0.5 million square feet. The acquisition was finalized through the purchase of Vigor Developments from EPDPL for Rs 117.28 crore. Located in a major tech hub, Embassy East Avenue is designed to appeal to professionals seeking quality residential spaces near their workplaces.
Equinox Developments Acquisition
Indiabulls Real Estate has also completed the acquisition of 100% equity in Equinox Developments for Rs 0.12 crore. This move further consolidates Indiabulls’ presence in the real estate sector, enhancing its ability to offer comprehensive residential solutions.
These acquisitions are part of Indiabulls Real Estate’s strategic plan to expand its footprint in key urban markets. By integrating these high-value projects, the company is well-positioned to capitalize on future growth opportunities in the robust Indian real estate sector, driven by factors such as urbanization, rising consumer spending, and supportive government policies.