Embassy Developments Appoints New Leadership, Plans Expansion
01 Mar 2025
1 Min Read
CW Team
Embassy Developments Limited (EDL) has appointed Jitendra Virwani as Chairman and Aditya Virwani as Managing Director, following a board decision on February 25, 2025. Sachin Shah will continue as CEO & Executive Director, and Rajesh Kaimal has been named CFO & Executive Director.
Under its growth strategy, EDL has announced asset acquisitions worth Rs 5.59 billion (bn), including a 1.3 million sq. ft. luxury residential project and a 9.5-acre land parcel in North Bengaluru. The company is also planning a Rs 20 bn Qualified Institutional Placement (QIP) to support expansion and optimize its capital structure.
To attract top talent, EDL will roll out an employee stock option plan worth Rs 45 million. The leadership team has been further strengthened with key appointments, including Vikas Khandelwal as Company Secretary and Group Chief Compliance Officer, and Shailendra Subbaraya as COO 鈥� South.
Sachin Shah, CEO & Executive Director, said, 鈥淲ith eight new projects launching in FY 2026, spanning 7.7 million sq. ft. and a gross development value of Rs 150 bn, EDL is set for significant growth.鈥�
An Extraordinary General Meeting (EGM) on March 25, 2025, will seek shareholder approval for key corporate actions. The Embassy Group will abstain from voting on related-party transactions to ensure corporate governance transparency.
Embassy Developments Limited (EDL) has appointed Jitendra Virwani as Chairman and Aditya Virwani as Managing Director, following a board decision on February 25, 2025. Sachin Shah will continue as CEO & Executive Director, and Rajesh Kaimal has been named CFO & Executive Director.Under its growth strategy, EDL has announced asset acquisitions worth Rs 5.59 billion (bn), including a 1.3 million sq. ft. luxury residential project and a 9.5-acre land parcel in North Bengaluru. The company is also planning a Rs 20 bn Qualified Institutional Placement (QIP) to support expansion and optimize its capital structure.To attract top talent, EDL will roll out an employee stock option plan worth Rs 45 million. The leadership team has been further strengthened with key appointments, including Vikas Khandelwal as Company Secretary and Group Chief Compliance Officer, and Shailendra Subbaraya as COO 鈥� South.Sachin Shah, CEO & Executive Director, said, 鈥淲ith eight new projects launching in FY 2026, spanning 7.7 million sq. ft. and a gross development value of Rs 150 bn, EDL is set for significant growth.鈥滱n Extraordinary General Meeting (EGM) on March 25, 2025, will seek shareholder approval for key corporate actions. The Embassy Group will abstain from voting on related-party transactions to ensure corporate governance transparency.
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