Equinox India Sells Rs 619cr Properties in Bengaluru

New Delhi, Jan 30 (PTI) Equinox India Developments has sold housing properties worth Rs 619 crore in its new project in Bengaluru.

In a regulatory filing on Thursday, the company informed that it has a good response for 'Embassy Verde', its premium residential project within 288-acre township 'Embassy Springs' in North Bengaluru.

"Since its pre-launch 5 days ago, Embassy Verde has garnered an overwhelming response, securing pre-sales bookings worth Rs 619 crores and selling over 700 units with total saleable area of 0.7 million (7 lakh) square feet," it said.

This asset forms part of the NAM Estates portfolio, now under Equinox India post-merger.

The 12-acre project has a saleable area of 11 lakh square feet, with a revenue potential of Rs 880 crore. It will have a total of 1,044 units across two phases.

Equinox India Developments Limited (erstwhile Indiabulls Real Estate Ltd) was incorporated in 2006 with its focus on construction and development of residential, commercial and SEZ projects across Indian cities.

On January 7, National Company Law Appellate Tribunal approved the merger scheme between Equinox India & Nam Estates (Embassy Group).

The company has successfully completed and implemented the scheme effective from the appointed date January 24, 2025.

Embassy Group becomes a new promoter with 41.4 per cent controlling stake.

Equinox India is under process to change its name to Embassy Developments Ltd., subject to regulatory approvals. Jitu Virwani has been appointed as Non-Executive Non-Independent Director on the Board with effect from January 25.