Embassy Developments Ltd. (EDL) has received RERA approval for Phase I of Embassy Serenity, its debut residential project in Alibaug, MMR. The project carries an estimated Gross Development Value (GDV) of approximately ₹400 crore across a 7-acre parcel. Designed as a resort-style retreat, the first phase includes five G+5 towers with 52 residences, targeting a launch this quarter and possession by 2030. The announcement highlights EDL’s strong Q3 FY26 performance, signaling reinforced growth visibility.
RERA Approval Marks Entry into Lifestyle Segment
Embassy Developments Ltd. (EDL) announced it has secured the necessary approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for Phase I of Embassy Serenity. This marks the Company’s formal entry into the high-value lifestyle and second-home segment within the Mumbai Metropolitan Region (MMR).
Embassy Serenity is situated in Thal Village, Alibaug, a location increasingly recognized as a preferred second-home destination due to its tranquility and improving connectivity to Mumbai via upgraded road and ferry infrastructure. This micro-market is anticipated to evolve similarly to other premium coastal living destinations globally.
Project Scale and Development Value
The overall project is set across a 7-acre land parcel and encompasses approximately 0.2 million sq. ft. of RERA carpet area. The approved initial phase will comprise five G+5 towers, offering a total of 52 spacious residences in duplex and simplex configurations. The estimated Gross Development Value (GDV) for this phase stands at approximately ₹400 crore. The project launch is planned for the current quarter, with possession targeted for 2030, pending regulatory progress.
Nature-First Design Philosophy
Embassy Serenity is designed around a nature-first philosophy, prioritizing the landscape. The development features over 52% open green spaces and utilizes a traffic-free podium. Architecture, handled by globally acclaimed partner Broadway Malyan (UK), incorporates soft curvilinear forms and open terraces to engage with the tropical setting. Landscape design is being led by Coopers Hill (Singapore).
Amenities are curated for social engagement and relaxation, including a clubhouse, a resort-style pool with a poolside bar/café, and specialized courts for tennis, padel, and pickleball.
Executive Commentary and Financial Context
Sachin Shah, CEO & Executive Director of Embassy Developments Ltd., stated that the interest in Alibaug represents a structural shift in how discerning Indian homebuyers view secondary residences—seeing them as extensions of their primary lifestyle. He emphasized that Embassy Serenity is conceived as a low-density, managed residential retreat offering privacy and professional management.
The RERA approval follows a strong operating period for EDL. The Company reported robust Q3 FY26 performance, achieving pre-sales of ₹1,392 crore (a ~240% QoQ growth) and collections totaling ₹414 crore. This performance, alongside multiple RERA approvals across other projects totaling an aggregate GDV exceeding ₹12,800 crore, reinforces the growth visibility set for FY26.
About Embassy Developments
Embassy Developments Limited (EDL), formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited, is positioned as one of India’s largest listed real estate developers. The company maintains a strategic focus on key urban markets including Bengaluru, the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR), with additional presence in Chennai and Indore. EDL holds a long-term debt rating of IVR A- (Stable) from Infomerics.
Source: BSE
