Embassy Developments Sells Sepset Real Estate for ₹100 Cr

Embassy Developments Ltd, along with its wholly-owned subsidiary Ceres Estate Limited, has entered into a Share Purchase Agreement with Pen India Limited for the sale of 100% of the equity share capital of Sepset Real Estate Limited. Sepset, which owns the 'Mega Mall' commercial project in Jodhpur, Rajasthan, will cease to be a subsidiary upon completion of the transaction. The aggregate cash consideration for the sale is ₹100 Crore, to be received in one or more tranches. The transaction, expected to be completed within 60 days, reflects the company's focus on active portfolio management and disciplined capital allocation. This divestment aims to unlock value, strengthen the balance sheet, and enable redeployment of capital into core markets and high-growth opportunities. In the financial year ended March 31, 2025, Sepset contributed ₹18.55 crore to turnover and had a net worth of ₹(-)114.07 crore.