Embassy Developments signs ₹1,125-crore deal in Bengaluru

Embassy Developments Ltd. has signed a major land deal worth ₹1,125 crore with Lam Research (India), a company that manufactures semiconductor equipment. The agreement involves sub-leasing and eventually selling 25 acres of land in Whitefield. The deal is subject to regulatory approvals. Embassy Developments stated that this partnership shows the increasing need for quality commercial spaces for advanced industries. Aditya Virwani, the Managing Director, mentioned that Bengaluru is a leading location for global companies. He believes this transaction demonstrates EDL's ability to create value through smart asset management. The money from the sale will be reinvested into new growth opportunities, which will help expand the company’s development projects.