Mumbai – October 7th, 2025: Embassy Developments Ltd. (Script – NSE: EMBDL / BSE: 532832) (EDL), one of India’s leading real estate developers with a presence across MMR, Bengaluru, NCR and other key cities, announced the completion and delivery of its legacy projects in the city.
In Mumbai, two marquee developments have been successfully delivered. The Blu Estate & Club in Worli, spanning 10.8 acres with 1.4 million sq. ft. and 374 residences, received phased OCs between 2018 and 2022, with condominium association elections being scheduled to enable EDL’s exit and transfer of governance to residents. Building on this success, The Sky Forest project in Lower Parel, covering 4.4 acres with 1.6 million sq. ft. and 438 residences, received its OC for Towers A2 and A3 in November 2023. Handovers are largely complete, with final transitions to resident-led management in progress.
In Thane, One Indiabulls, a 2.6-acre development comprising 0.5 million sq. ft. and 388 residences, received its Phase I OC in May 2025, and possessions are currently underway.
In the National Capital Region too, two major developments have reached completion: Enigma in Gurugram, a 19.9-acre project comprising 1.8 million sq. ft. and 480 residences launched in 2010, secured OCs between 2018 and 2021, with final handovers expected by the end of the year; and Centrum Park in Gurugram, spread across 22 acres with 2.1 million sq. ft. and 1,025 residences, has already completed its handovers and now operates as a fully self-governed community, marking EDL’s complete exit.
Extending further southeast, progress is also visible in Visakhapatnam, where Indiabulls Sierra, a 4.8-acre development with 0.8 million sq. ft. and 620 homes, has secured its OC. With possessions underway, families are beginning to occupy their homes under EDL’s oversight.
Overall, Embassy Developments has announced the completion of six legacy projects across these cities, delivering homes to over 3,000 families. What was once a portfolio of stalled projects has been transformed into thriving communities. By resolving legacy challenges, completing construction, and ensuring timely handovers, EDL has reaffirmed its commitment to delivery, customer trust, and governance. Embassy Services, the property management arm of the Embassy Group, continues to provide facility management across these developments to ensure seamless operations and a smooth transition to resident-led management.
The completion of these projects represents a pivotal milestone for EDL. By resolving legacy challenges and delivering on commitments, the Company has strengthened customer confidence, unlocked embedded portfolio value, and positioned itself on a stronger footing to pursue future growth.
Commenting on this, Sachin Shah, CEO & Executive Director, Embassy Developments Ltd., said, “The successful resolution and delivery of these long-pending projects mark a turning point for Embassy Developments. With OCs secured, possessions underway, and independent associations taking charge, we have demonstrated its execution strength and commitment to customers. Our priority remains to complete, hand over, and unlock value across all projects while upholding the highest standards of governance, delivery, and customer trust.”