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Embassy Developments Shares Jump 3% on ₹711 Cr Juhu Tower Deal with Angel One Founder
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Moneycontrol•22-09-2026, 09:23
Embassy Developments Shares Jump 3% on ₹711 Cr Juhu Tower Deal with Angel One Founder
- •Embassy Developments shares rose over 3% after signing an MoU to sell a residential tower at its Embassy Terazza project in Juhu.
- •The deal, valued at approximately ₹711 crore, involves a G+7-storey tower with a RERA carpet area of 63,000 sq ft.
- •Dinesh Thakkar, Founder, Chairman, and MD of Angel One, is acquiring the entire ultra-luxury residential tower.
- •Embassy Terazza is a 2-acre project with an estimated gross development value (GDV) exceeding ₹3,000 crore.
- •The company recently approved raising up to ₹160 crore via non-convertible debentures and reported a 338% jump in pre-sales for the June quarter.
Key Questions Answered
Embassy Developments signed an MoU for the sale of an entire residential tower at its Embassy Terazza project in Juhu to Angel One founder Dinesh Thakkar for approximately ₹711 crore.
The board of Embassy Developments approved raising up to ₹160 crore through the issuance of up to 16,000 non-convertible debentures on a private placement basis.
For the quarter ended June 2026, the realty firm posted a consolidated net loss of Rs 234.40 crore, while pre-sales surged 338 percent year-on-year to Rs 868 crore and collections rose 54 percent to Rs 496 crore.
