January 24, 2026: Embassy Developments Ltd (EDL) has announced its foray into the Mumbai Metropolitan Region (MMR), marking the company’s first residential projects in the city under the Embassy brand. The move represents a strategic expansion as the developer looks to establish a pan-India residential footprint in one of India’s most competitive real estate markets.
The company plans to invest approximately Rs 45 billion to develop three residential projects located in Worli, Juhu and Alibaug. According to EDL, the projects will together have a gross development value exceeding Rs 120 billion and a total development footprint of around 1.58 million square feet of RERA carpet area. Launches for the projects are expected to begin from the fourth quarter of FY2026.
EDL highlighted its experience in residential development, stating that it has delivered more than 21 million square feet of housing projects across South India. Over the past year, the company has focused on improving governance standards and stabilising operations. Since assuming operational control, EDL has completed and handed over six long-pending residential developments, providing homes to more than 3,300 families. These include three projects located in Mumbai’s Worli, Lower Parel and Thane areas.
Commenting on the expansion, Jitu Virwani, Chairman of Embassy Developments Ltd., said the group has spent over three decades creating developments with lasting quality and urban impact. He noted that entering Mumbai is a key step in building a strong national residential presence, supported by execution capabilities and long-term value creation.
On the financial front, EDL reported pre-sales of around Rs 13.92 billion in the third quarter of FY2026, reflecting a quarter-on-quarter increase of nearly 240% compared with Rs 4.09 billion recorded in Q2 FY2026. For the nine months ended FY2026, cumulative pre-sales stood at Rs 19.99 billion, including Rs 1.98 billion in Q1 FY2026.
Shares of Embassy Developments Ltd closed at Rs 63.04 on Tuesday, down Rs 3.31 or 4.99% from the previous session, amid broader sector movements.
With its Mumbai entry, the company aims to strengthen its position in premium residential segments, leveraging its development expertise and rising demand for high-end housing in the country’s financial capital.
