Embassy Developments inks JDA for ₹1,600 crore housing project in Bengaluru's Whitefield

Embassy Developments Ltd has signed a Joint Development Agreement (JDA) for a 17.9-acre land parcel in Whitefield, Bengaluru, to build a premium residential community with an estimated gross development value of ₹1,600 crore, the real estate developer said on Monday.

In a regulatory filing to the stock exchanges, the company said the project, located off Whitefield Main Road, will span approximately 1.6 million sq ft of saleable area and offer around 1,000 apartments across 2, 2.5, and 3 BHK configurations.

The development, targeted for launch in FY27, will cater primarily to IT and ITeS professionals.

The area is set to benefit from connectivity improvements through the upcoming Peripheral Ring Road, Satellite Town Ring Road, and the newly operational Metro Purple Line, the company said in a release.

“Whitefield continues to be a strategic focus for us. As a predominantly end-user-driven micro-market, it has shown greater resilience supported by sustained demand from Bengaluru’s professional workforce and ongoing infrastructure growth,” said Aditya Virwani, Managing Director, Embassy Developments Ltd.

The new project adds to EDL’s growing residential pipeline, which includes 10 projects set for FY26 with a projected GDV of over ₹22,000 crore, the company said.

Shares of Embassy Developments rose over 3% after the company announced the signing of the agreement.

Formerly known as Indiabulls Real Estate Ltd and Equinox India Developments Ltd, EDL is now under the Embassy Group following the successful merger with Nam Estates Pvt Ltd earlier this year.

The group, led by Jitendra and Aditya Virwani, now holds a 42.44% controlling stake in the company.