Embassy Targets Rs 550 Crore Revenue From Housing Project In Bengaluru

Realty firm Embassy Group on Tuesday said it expects revenue of Rs 550 crore from a new housing project in Bengaluru.

In a statement, the company said it has inked a Joint Development Agreement for 3.75 acres of land in Whitefield, Bengaluru to launch a premium residential project.

The project will have an estimated revenue potential of around Rs 550 crore, it added.

The project will have about 5.4 lakh square feet of saleable area and around 400 flats.

Embassy Group has delivered over 70 million square feet of commercial, residential, industrial and warehousing, hospitality, services, retail and education segments.

Founded in 1993, Embassy Group is the sponsor of the country's first publicly listed Real Estate Investment Trust.