Embassy Group's luxury housing sales surge in FY23
Real Estate

Embassy Group's luxury housing sales surge in FY23

Bangalore-based real estate developer Embassy Group has recorded one of its best ever financial years, with revenue of ₹1,370 crore in 2023, a 210% increase from the previous year. The company sold 10.73 lakh square feet of luxury housing, which is largely priced over ₹2 crore. The average price per square foot was ₹11,615, one of the highest in Bengaluru.

Reeza Sebastian Karimpanal, Executive President – Residential Business, Embassy Group, said, "With a strong focus on project completion, Embassy Group achieved healthy sales bookings through FY23, supported by sustained homebuyer interest for high-quality products. Our efforts were aimed at the sale of our existing projects to pave the way for upcoming ones in FY24."

The company plans to increase its project pipeline to launch at least four new residential projects in FY24, with a development potential of 5 million square feet and an expected gross revenue of over ₹3,000 crore.

Bengaluru's luxury housing market has been growing rapidly in recent years, with a number of new projects being launched in the city. The growth of the luxury market is being driven by a number of factors, including the increasing affluence of the city's residents, the growing demand for high-quality housing, and the availability of land for development.

North Bengaluru is the epicentre of growth in the city's luxury market. The area is home to a number of global investments and luxury lifestyles. According to a report by Knight Frank, North Bengaluru recorded the fastest sales growth of 134% Y-O-Y during H2 2022, followed by the South and East.

The growth of the luxury market is a positive sign for the city's real estate sector. It indicates that there is a strong demand for high-quality housing in Bengaluru and that the city is still attractive to investors.

Also Read
MMRDA proposes TOD charge for projects near Metro 7
India may need up to 27 GW new coal-based power plants

Bangalore-based real estate developer Embassy Group has recorded one of its best ever financial years, with revenue of ₹1,370 crore in 2023, a 210% increase from the previous year. The company sold 10.73 lakh square feet of luxury housing, which is largely priced over ₹2 crore. The average price per square foot was ₹11,615, one of the highest in Bengaluru. Reeza Sebastian Karimpanal, Executive President – Residential Business, Embassy Group, said, With a strong focus on project completion, Embassy Group achieved healthy sales bookings through FY23, supported by sustained homebuyer interest for high-quality products. Our efforts were aimed at the sale of our existing projects to pave the way for upcoming ones in FY24. The company plans to increase its project pipeline to launch at least four new residential projects in FY24, with a development potential of 5 million square feet and an expected gross revenue of over ₹3,000 crore. Bengaluru's luxury housing market has been growing rapidly in recent years, with a number of new projects being launched in the city. The growth of the luxury market is being driven by a number of factors, including the increasing affluence of the city's residents, the growing demand for high-quality housing, and the availability of land for development. North Bengaluru is the epicentre of growth in the city's luxury market. The area is home to a number of global investments and luxury lifestyles. According to a report by Knight Frank, North Bengaluru recorded the fastest sales growth of 134% Y-O-Y during H2 2022, followed by the South and East. The growth of the luxury market is a positive sign for the city's real estate sector. It indicates that there is a strong demand for high-quality housing in Bengaluru and that the city is still attractive to investors. Also Read MMRDA proposes TOD charge for projects near Metro 7 India may need up to 27 GW new coal-based power plants

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?