Indiabulls Real Estate and its subsidiary Fama Real Estate have acquired residential projects in Bengaluru and Chennai from Embassy Property Developments
Real EstateIndiabulls Real EstateEmbassy Property DevelopmentsResidential ProjectsBengaluruChennaiReal EstateMay 26, 2024
The acquisition marks Indiabulls Real Estate's expansion into southern India and strengthens its presence in the residential real estate market
The company has acquired three residential development projects: Embassy Residency in Chennai Embassy Eden in Bengaluru and Embassy East Avenue in Bengaluru
The total value of the acquisition deal is not disclosed but the company has paid approximately Rs 702 54 crore in cash and infused approximately Rs 465 71 crore capital in Sion Eden Developers
The acquisition provides Indiabulls Real Estate with a significant presence in southern India access to new markets and an opportunity to diversify its portfolio
The acquisition is expected to boost Indiabulls Real Estate's growth and revenue and the company is likely to continue to expand its presence in southern India
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