Bengaluru-based real estate company Embassy Developments Ltd (EDL) plans to invest over ₹4,500 crore to develop three premium residential projects across Worli, Juhu, and Alibaug in the Metropolitan Region (MMR) and ₹2,500 crore to complete existing projects in the region, the company said on Jan 20.
The three new projects will have a gross development value (GDV) of over ₹12,000 crore and span 1.58 million sq ft. The launches are scheduled to begin from the fourth quarter of FY26, the company said in a statement.
EDL, erstwhile Indiabulls Real Estate Ltd, is listed on the stock exchanges and is one of the leading real estate companies in the country.
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EDL’s flagship Mumbai project, Embassy Citadel in Worli, will be an ultra-luxury residential development with a GDV of more than ₹8,800 crore. Spread across roughly 1 million sq ft of RERA carpet area, the single-tower project will offer three-, four- and five-bedroom apartments, along with two triplex mansion residences. Located near the Four Seasons hotel, the project will feature over 1 lakh sq ft of amenities, the company said in a statement.
In Juhu, the company plans a luxury residential project spanning about 0.33 million sq ft of RERA carpet area, with an estimated GDV of ₹3,000 crore. The development, proposed across more than two acres, will comprise around 50 homes targeted at multi-generational families and is currently awaiting approvals, it said.
EDL’s third project will be a lifestyle and second-home development in Alibaug, aimed at buyers seeking resort-style residences within driving distance of Mumbai. The low-rise project will cover about 0.2 million sq ft of RERA carpet area and carry a GDV of around ₹400 crore. It is also pending regulatory clearances, the company said.
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Apart from launching new projects, EDL will invest in completing three legacy housing projects in the MMR, comprising around 5,000 units.
The company said its expansion into Mumbai comes after a year of stabilisation and execution, during which it completed and handed over six long-pending residential projects across markets, delivering homes to more than 3,300 families. This included three projects in Mumbai, located in Worli, Lower Parel and Thane.
“For over three decades, the Embassy has focused on creating developments that endure, both in quality and in the way they shape neighbourhoods. Bringing this legacy to Mumbai marks an important step in building a strong pan-India residential presence, grounded in the confidence we have built through consistent execution,” Jitu Virwani, Chairman, Embassy Developments Ltd, said
Aditya Virwani, Managing Director of Embassy Developments Ltd., said, “Mumbai represents the country’s most mature residential market, where discerning buyers place a premium on execution quality, credibility and long-term commitment. He noted that the company’s approach is measured, with a focus on a limited set of high-conviction projects rather than volume-driven growth. With a strengthened balance sheet and clearer development visibility,” adding Mumbai will form a central pillar of EDL’s next phase of expansion.
EDL expects to achieve pre-sales of around ₹5,000 crore in FY26, supported by its upcoming launches and a land bank of over 3,000 acres. To date, it has developed over 75 million square feet of saleable area across 22 cities, including Bengaluru, MMR, Delhi-NCR, Chennai, and Indore.