Introduction
The investment by real estate developer Embassy Group is part of its strategy to expand its presence in the emerging market in Bengaluru. The company aims to launch multiple residential projects catering to various categories of buyers to capitalize on the growing demand for housing in the city.
Table of Contents
- Embassy Group Is the Top Place in Bangalore
- Company Focus on Timely Delivery: Aditya Virwani
- Development Under Future Property Contract
Real estate developer Embassy Group, for its Bangalore residential business in FY2023–24, has reported sales transactions worth Rs. 2,250 crores spent. This is an increase of 85.5 percent over the previous year. Embassy Company has sold 21.18 lakhs square feet (sq. ft).
Recorded 103% year-on-year growth in area sold. It mainly involves ready-made luxury projects for high-net-worth individuals (HNIs) and non-resident Indians (NRIs). It sells premium homes with a variety of amenities. The was driven by interest in self-sustaining integrated townships.
Embassy Group Is the Top Place in Bangalore
The Embassy Group charges per square feet for its built projects. Fifteen thousand nine hundred twenty-five were realised. Further, the plots are priced at Rs. 7,195 in registered realisation. The residential portfolio’s average realization per square feet is Rs. 12,915, the highest in Bangalore.
The commercial portfolio’s average realisation per square feet is Rs. 15,925, making it one of the most sought-after in the city. This pricing strategy reflects Embassy Group’s properties’ premium quality and prime locations.
The high realization values indicate the strong demand for Embassy Group’s properties in both residential and commercial sectors. This pricing strategy aligns with their reputation for delivering top-notch developments in desirable areas.
Company Focus on Timely Delivery: Aditya Virwani
Aditya Virwani, COO (Chief Operating Officer) of Embassy Group said, “Our residential sales are two thousand two hundred fifty crores out of Rs. 1,464 crores collected. We are confident that our upcoming projects will attract buyers due to their prime locations. Luxurious amenities.”
He stated that the company’s focus on customer satisfaction and timely delivery is key to success in the real estate market. Emphasizes the Embassy Group’s commitment to quality and innovation. The Aditya says its financial position is strong, providing long-term value to customers.
Strategic partnerships will position them well for continued growth in the industry. The Aditya highlighted that Embassy Group’s dedication to sustainable practices and community development further differentiates them in the market. He expressed optimism about the company’s prospects and capacity to maintain a strong presence in the real estate sector.
Development Under Future Property Contract
We secured Rs 8000 crore GDV (Gross Development Value) or marginal standing provision of residential launches in FY25. The projections indicate a strong market demand for these residential properties, which will contribute significantly to our overall revenue growth.
Our strategic location options and innovative designs will attract many buyers. Our team is dedicated to completing the project on time. “High-quality construction standards to further enhance the attractiveness of our properties. With these factors, we are optimistic about the success of the real estate market in FY25,” said Aditya.
Many of these will be developed under our future property agreement with Indiabulls Real Estate Limited (IBREL),” he said. The partnership will allow us to expand our presence in key markets and enhance our portfolio with high-quality properties. The collaboration will be mutually beneficial and provide long-term value to both parties.
Conclusion
Real estate developer Embassy Group‘s investment will expand its presence in Bengaluru’s emerging market. Embassy Group aims to capitalize on the growing demand for commercial and residential properties in Bengaluru. It has become a key player in the city’s real estate sector. This investment reflects the company’s confidence in the potential for growth and development in the Bengaluru real estate market. For more information, visit openplot.
Also read: Akruthi Srivatsa Residential Project in Mallampet, Hyderabad