Key Appointment Details
Embassy Developments Limited announced the appointment of Neel Virwani as Chief Business Officer, effective October 1, 2026. The appointment has been approved by the Company's Board of Directors and shareholders as Senior Management Personnel.
Background of Appointee
Neel Virwani is a Promoter at Embassy Group and part of its next generation of leadership. He has been associated with the Group since April 2024, working across strategic planning, business development, and brand transformation initiatives. He has been instrumental in evaluating new markets and expansion opportunities, while maintaining close involvement with the Group's family office and investment activities.
Role and Responsibilities
As Chief Business Officer, Neel Virwani will lead EDL's operations across North and West India, with particular focus on the Mumbai Metropolitan Region (MMR) and National Capital Region (NCR). He will be responsible for driving portfolio expansion, spearheading new business initiatives, and overseeing project structuring and execution across the Company's owned and development management portfolio.
Management Commentary
Aditya Virwani, Managing Director, stated: "As we scale EDL across Mumbai and expand into new markets, Neel's leadership will be important to our next phase of growth. His understanding of the business, combined with his perspective on markets and opportunities, will be invaluable as we build EDL into a pan-India real estate powerhouse and create long-term value for our shareholders and customers."
Neel Virwani added: "I am excited to take on this role at an important point in EDL's journey. I am grateful to the Board of Directors and our shareholders for their trust in me, and I look forward to working closely with our talented team to build on the strong foundation we have created and take EDL to the next level as a leading real estate company in India."
Business Outlook and Targets
The appointment comes as EDL progresses its growth plans, targeting:
- ~₹6,000 crore in pre-sales from owned developments in FY27
- ~₹2,000 crore in pre-sales from development management projects in FY27
- 11-project launch pipeline with Gross Development Value (GDV) of ~₹19,800 crore across key markets
Company Background
Embassy Developments Limited (formerly Equinox India Developments Limited) is one of India's largest listed real estate developers specializing in residential and commercial projects across key urban markets. The company has strategic focus on Bengaluru, Mumbai Metropolitan Region (MMR), and National Capital Region (NCR), with presence in Chennai and Indore. The company has a diversified residential portfolio across mid-income, premium, and luxury segments, including branded residences, uber-luxury apartments and villas, exclusive town homes, condominiums, integrated townships, senior living communities, and contemporary homes.
Regulatory and Listing Information
Company is listed on BSE Limited and National Stock Exchange of India Limited. Holds long-term debt rating of IVR A- (Stable) from Infomerics. CIN: L45101HR2006PLC095409.
Offices
Bengaluru Office: Embassy One-Pinnacle, 14th Floor, One World Center, Tower 2A, 01-1001, WeWork, Bellary Road
Mumbai Office: Dena Bank Colony, 4th Floor, Senapati Bapat Marg