Embassy Developments will invest ₹1,500 crore to build the first phase of a 6 million sq. ft. office campus in Bengaluru, strengthening its commercial portfolio. Driven by strong GCC demand, the company is also targeting residential sales of ₹8,000 crore and plans to launch housing projects worth ₹20,000 crore this fiscal.
Embassy Developments is expanding its footprint in India’s office real estate market with a ₹1,500 crore investment to develop the first phase of a large commercial office campus in Bengaluru. The project marks a strategic move to increase recurring rental income while the company continues to grow its residential business.
The office development will span a 35-acre site and eventually offer 6 million square feet of Grade A office space. Construction has already begun on the first 3 million sq. ft. phase, which will be leased to corporate occupiers. Confirming the plan, Managing Director Aditya Virwani said, “We will develop this project in two phases. The construction of the first phase covering 3 million sq ft has started.” He added that the investment for the first phase would be around ₹1,500 crore, excluding land cost.
Rising GCC Demand Continues to Drive Office Leasing
The investment reflects growing confidence in India’s office market, particularly in Bengaluru, which remains a preferred destination for multinational companies establishing Global Capability Centres (GCCs). Demand for premium office space has remained resilient despite changing workplace trends, with global firms continuing to expand their operations across India.
Highlighting the market outlook, Virwani said, “The demand for prime workspaces continues to be strong, especially from foreign players who want to set up Global Capability Centres (GCCs) in India.” The upcoming campus is expected to attract large corporate tenants seeking modern, scalable office infrastructure in one of the country’s leading technology hubs.
Residential Business Remains the Core Growth Driver
While commercial assets will strengthen recurring rental income, Embassy Developments says residential real estate will continue to remain its primary business focus. The company more than doubled its sales bookings to ₹4,631 crore in the previous financial year and is now aiming for ₹8,000 crore in bookings during the current fiscal.
To support this target, the developer plans to launch nearly ₹20,000 crore worth of housing projects across key markets. The company believes demand for homes developed by established branded developers remains strong, particularly in major metropolitan regions.
Building a Diversified Real Estate Business
Embassy Developments, formerly known as Indiabulls Real Estate, has steadily diversified its real estate portfolio after becoming part of the Bengaluru-based Embassy Group. Beyond residential and commercial developments, the group has a significant presence across the flexible workspace ecosystem through WeWork India, the listed Embassy Office Parks REIT, and its co-living brand, Olive by Embassy.
Although the company reported a net loss in FY26 amid lower total income, its aggressive expansion plans indicate a long-term strategy focused on creating a balanced mix of residential sales and stable rental income. The Bengaluru office project is expected to further strengthen the Embassy’s position in India’s fast-growing commercial real estate and flexible workspace market.
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