Embassy expands presence in Mumbai with 3 new projects
The projects in Juhu and Worli are targeted toward the luxury customer with ticket sizes in the range ₹15-60 crore, equipped with all the amenities
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Bengaluru-based realtor Embassy Developments is expanding its presence in Mumbai with the launch of three new projects, with another three projects to be launched by the year end, giving it a revenue visibility of ₹18,000 crore.
It is investing ₹4,500 crore in the upcoming projects of the current quarter in Worli, Juhu and Alibaug with a total saleable area of 1.58 million square feet and gross development value of over ₹12,000 crore.
The projects in Juhu and Worli are targeted toward the luxury customer with ticket sizes in the range ₹15-60 crore, equipped with all the amenities.
“This product is going to be something special,” said Managing Director Aditya Virwani, referring to the 1 msf project in Worli, located near Four Seasons hotel.
Bengaluru-based Embassy group is known for its commercial projects and Embassy Office Parks REIT, the first REIT in the country.
Embassy Group Chairman, Jitu Virwani described Mumbai as an important market for the company to spread its wings and readying for the next chapter of growth. It needed to sell only 30 per cent of its inventory in order to recover the costs, he added.
Real estate developers from other parts of the country have increasingly been foraying into Mumbai, the biggest real estate market in the country in value terms. Prestige Real Estate Projects made its entry during Covid and has seen good demand for its products.
In response to a question on perceptible decline in home sales, Aditya Virwani said, “We are in the second half of the upturn in the residential cycle…. I still think we are 60-70 per cent into the cycle. So, we still have a few more good years ahead of us.”
The three main priorities for the company are unlocking existing inventory, build a strong pipeline of launches and forge ahead on new developments and future landbank.
The projects that are expected to be launched next fiscal year will be located in Panvel.
In Bengaluru it has just launched a 30-acre villa development while in April it plans to launch an 80-acre project.
Published on January 20, 2026
