Embassy Developments Limited (EDL) has announced key leadership changes and strategic growth initiatives following its board meeting on February 25, 2025. Jitendra Virwani has been appointed as Chairman, while Aditya Virwani takes charge as the Managing Director.
Sachin Shah will continue as CEO & Executive Director, while Rajesh Kaimal has been named CFO & Executive Director. The restructuring strengthens corporate governance and sets the stage for EDL’s expansion plans across India.
Growth & Fundraising Initiatives
The company has outlined a series of strategic moves to accelerate growth, including:
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Asset Acquisitions Worth ₹559 Crore:
- ₹455 crore cash acquisition of a 1.3 million sq. ft. luxury residential development in North Bengaluru.
- ₹104 crore for a 9.5-acre plotted residential development, extending the Embassy Springs project.
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₹2,000 Crore QIP (Qualified Institutional Placement):
- Strengthening financial flexibility and optimizing capital structure.
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Launch of a ₹4.5 Crore ESOP Plan:
- Aimed at retaining top-tier talent.
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Strengthened Leadership Team:
- Vikas Khandelwal appointed as Company Secretary & Group Chief Compliance Officer.
- Shailendra Subbaraya appointed as COO – South.
- Maria Rajesh appointed as CHRO.
Future Expansion & EGM Announcement
With eight new project launches planned in FY26 across 7.7 million sq. ft., EDL is set to capitalize on growing market opportunities, with a projected Gross Development Value (GDV) of ₹15,000 crore.
To finalize the proposed acquisitions and fundraising, EDL has scheduled an Extraordinary General Meeting (EGM) on March 25, 2025. The Embassy Group will abstain from voting on all related-party transactions, ensuring the highest standards of governance.
“With the merger complete and a robust leadership team in place, EDL is well-positioned for significant growth,” said Sachin Shah, CEO & Executive Director. “We remain committed to delivering long-term value for our customers and stakeholders.”
Under the Embassy brand, EDL aims to redefine India’s real estate landscape, leveraging its 45 million sq. ft. of residential and commercial space and a 3,000-acre land bank for future development.
