An announcement from Equinox India Developments Ltd ( (IN:EMBDL) ) is now available.
Embassy Developments Limited, through its wholly owned subsidiary Embassy East Business Park Pvt Ltd, has entered into a significant transaction with Lam Research (India) Private Limited, a global leader in semiconductor equipment manufacturing. The deal involves sub-leasing and divesting approximately 25 acres of land in Whitefield, Bengaluru, for a transaction value of approximately ₹1,125 crore. As part of the agreement, Embassy Developments has issued a corporate guarantee to ensure the performance of its subsidiary’s obligations. This move positions the company strategically within the real estate market, potentially enhancing its portfolio and stakeholder value, although the guarantee currently poses no commercial impact.
More about Equinox India Developments Ltd
Embassy Developments Limited, formerly known as Equinox India Developments Limited and Indiabulls Real Estate Limited, operates in the real estate industry. The company focuses on property development and management, with a presence in both residential and commercial sectors across India.
YTD Price Performance: -10.85%
Average Trading Volume: 696,275
Current Market Cap: 128.2B INR
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