Business Update25 May 2024, 01:14 am
Indiabulls Real Estate Acquires Three Projects from Embassy Property Developments for INR 1.74 Crores
AI Summary
Indiabulls Real Estate Ltd. has announced the acquisition of three projects from Embassy Property Developments through separate deals. The total cash consideration for the acquisitions is approximately INR 1.74 crores. The projects include Embassy Residency (~8.2 acres, ~1.4 msf), Embassy Eden (~31.3 acres, ~0.7 msf), and Embassy East Avenue (~3.75 acres, ~0.5 msf). Indiabulls Real Estate also acquired 100% equity share capital of Equinox Developments for approximately INR 0.12 crore.
Key Highlights
- Indiabulls Real Estate acquires Embassy Residency, Embassy Eden and Embassy East Avenue from Embassy Property Developments
- Deals worth approximately INR 1.74 crores in total
- Embassy Residency: ~1.4 msf sale area, approximately INR 119.55 crore cash consideration
- Embassy Eden: ~0.7 msf sale area, approximately INR 465.71 crore capital infusion
- Embassy East Avenue: ~0.5 msf sale area, approximately INR 117.10 crore cash consideration
- Indiabulls Real Estate also acquires 100% equity share capital of Equinox Developments for ~INR 0.12 crore