Embassy Developments has acquired 100% equity shares of Squadron Developers (SDPL) for Rs 456.61 crore arrived basis closing adjustments to the agreed enterprise value of Rs 455 crore. With the above acquisition, SDPL has become a wholly owned subsidiary of the Company.
This acquisition is in continuation of growth strategy to build a robust pipeline of new launches and will expand the Company’s presence in the key markets of Bengaluru, which has established itself as a formidable force in the real estate market, owing to its well-developed infra & impressive growth potential and has become a sought-after destination for developers looking to capitalize on the city’s upward trajectory.
Embassy Developments (formerly known as Equinox India Developments and earlier as Indiabulls Real Estate) is one of India’s leading real estate developers, specializing in the construction and development of residential, commercial, and Special Economic Zone (SEZ) projects across Indian cities.
