Embassy Developments Ltd. (Script – NSE: EMBDL / BSE: 532832) (EDL), a prominent real estate developer in India with operations in Visakhapatnam, Bengaluru, MMR, NCR, and other major cities, has announced the successful completion and delivery of its legacy project in Visakhapatnam – Indiabulls Sierra, a 4.8-acre development encompassing 0.8 million sq. ft. With Occupation Certificates (OCs) now acquired, 620 families are set to move into their homes, signifying the revival of a project that had previously experienced years of delays and uncertainties. Additionally, EDL has completed three significant projects in Mumbai and Thane. The Blu Estate & Club in Worli, which spans 10.8 acres with 1.4 million sq. ft.
and 374 residences, received phased OCs from 2018 to 2022, with condominium association elections organized to facilitate EDL’s exit and transition of governance to residents. Following this, 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 nearly finished, 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, secured its Phase I OC in May 2025, and possession is currently ongoing. Two major projects in the National Capital Region have also been completed: Enigma in Gurugram, a 19.9-acre project with 1.8 million sq. ft.
and 480 residences launched in 2010, secured OCs between 2018 and 2021, with final handovers anticipated by the year’s end; and Centrum Park in Gurugram, spanning 22 acres with 2.1 million sq. ft. and 1,025 residences, has completed its handovers and now functions as a fully self-governed community, marking EDL’s complete exit. Overall, Embassy Developments has announced the completion of six legacy projects across these cities, providing homes to over 3,000 families. A portfolio that once faced stagnation has now evolved into thriving communities. By overcoming legacy issues, finalizing construction, and ensuring timely handovers, EDL has reaffirmed its dedication to delivery, customer trust, and governance.
Embassy Services, the property management division of the Embassy Group, continues to oversee facility management across these developments to ensure smooth operations and a seamless transition to resident-led management. The completion of these projects signifies a crucial milestone for EDL. By addressing legacy challenges and fulfilling commitments, the company has bolstered customer confidence, unlocked hidden portfolio value, and strengthened its position for future growth. Sachin Shah, CEO & Executive Director of Embassy Developments Ltd., remarked, “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 our execution strength and commitment to customers.
Our priority remains to complete, hand over, and unlock value across all projects while maintaining the highest standards of governance, delivery, and customer trust.