Embassy Developments Invests ₹7,000 Crore in Mumbai Luxury Residential Projects

Bengaluru-based Embassy Developments Ltd (EDL) has announced a ₹7,000 crore investment in Mumbai’s residential real estate market, targeting three new luxury housing projects in Worli, Juhu, and Alibaug, along with the completion of three ongoing developments in the Mumbai Metropolitan Region (MMR). The announcement, made on January 20, 2026, reflects the company’s strategic focus on Mumbai, one of India’s most mature and premium residential markets.

EDL will allocate ₹4,500 crore for three new premium projects and ₹2,500 crore to complete existing projects in the MMR. The new launches are expected to generate a combined gross development value (GDV) of over ₹12,000 crore and span approximately 1.58 million sq ft of RERA-approved carpet area. The launches are slated for Q4 FY26, pending regulatory approvals.

EDL’s flagship Mumbai development, Embassy Citadel in Worli, is designed as an ultra-luxury residential tower with a GDV exceeding ₹8,800 crore. The single-tower project spans roughly 1 million sq ft, offering three-, four-, and five-bedroom apartments, along with two triplex mansion residences. Amenities will cover over 1 lakh sq ft, and the location near the Four Seasons Hotel underscores the project’s premium positioning.

The Juhu project will cover about 0.33 million sq ft of RERA carpet area across more than two acres, with an estimated GDV of ₹3,000 crore. Designed for multi-generational families, it will feature approximately 50 high-end homes. The project is currently awaiting regulatory approvals.

The Alibaug development targets buyers seeking resort-style residences within driving distance of Mumbai. This low-rise project spans around 0.2 million sq ft of carpet area, with a GDV of approximately ₹400 crore, pending regulatory clearance.

Apart from new launches, EDL plans to complete three ongoing residential projects in the MMR, totaling around 5,000 housing units. These completions aim to strengthen the company’s delivery record, following a year in which EDL handed over six long-pending residential projects across Mumbai, Bengaluru, and Thane, benefiting over 3,300 families.

Chairman Jitu Virwani highlighted that Mumbai represents a key growth market for Embassy Developments. “For over three decades, Embassy has focused on creating developments that endure, in quality and in shaping neighbourhoods. Bringing this legacy to Mumbai marks an important step in building a strong pan-India residential presence,” he said.

Managing Director Aditya Virwani emphasized that Mumbai’s market prioritizes quality, credibility, and long-term commitment. “Our approach is measured, focusing on high-conviction projects rather than volume-driven growth. Mumbai will form a central pillar of our next phase of expansion,” he added.

EDL anticipates pre-sales of over ₹5,000 crore in FY26, supported by upcoming launches and an extensive land bank of 3,000+ acres. The company has developed over 75 million sq ft of saleable area across 22 cities, including Bengaluru, MMR, Delhi-NCR, Chennai, and Indore.

Mumbai continues to be India’s most mature residential market, attracting premium buyers seeking luxury and quality execution. Embassy’s entry with high-end projects aligns with broader trends in the MMR, where ultra-luxury residences in Worli, Juhu, and Bandra are witnessing steady demand.

Factors contributing to Mumbai’s premium housing demand include: Strong disposable income and multi-generational family structures. Proximity to business districts, schools, hospitals, and luxury amenities. Limited availability of premium land parcels, increasing the value of high-quality developments. Buyer preference for developers with delivery credibility and pan-India reputation.

EDL, formerly Indiabulls Real Estate Ltd, is listed on stock exchanges and is recognized as one of India’s leading real estate developers. The company also manages WeWork India and Embassy Office Parks REIT, reflecting its diversified real estate portfolio across residential, commercial, and co-working segments.

With three new projects and ongoing completions in MMR, Embassy is consolidating its position as a premium residential player in Mumbai while leveraging its financial strength, delivery track record, and land assets to capitalize on growing urban demand.

Embassy Developments’ investment of ₹7,000 crore and the expected ₹12,000 crore in GDV from the three new projects signal strong confidence in Mumbai’s luxury housing market. Analysts note that high-end residential demand remains robust, driven by affluent families, investors, and second-home buyers.

The MMR, with its limited luxury supply, prime locations, and strong infrastructure, continues to be attractive for developers seeking quality projects with long-term value appreciation. Embassy’s strategy of measured, high-conviction launches is aligned with market trends, ensuring brand credibility, financial stability, and high-quality delivery.

Embassy Developments Ltd plans to invest ₹7,000 crore in Mumbai’s luxury housing market, targeting three new projects in Worli, Juhu, and Alibaug, alongside the completion of three ongoing developments. The new projects span 1.58 million sq ft with a combined GDV of ₹12,000 crore, including ultra-luxury apartments, triplex mansions, and resort-style homes. EDL expects pre-sales of over ₹5,000 crore in FY26, leveraging a land bank of 3,000+ acres. The investment underscores Embassy’s strategic focus on high-quality, premium residential projects in the MMR.