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Embassy Group
Embassy Group or Embassy Property Developments Pvt. Ltd is a privately held real estate developer based in Bengaluru, Karnataka, India established in 1993. The group is into real estate development for verticals like commercial, residential, hospitality, industrial warehouse spaces, services, retail and education. The company has developed projects in many Indian cities like Bengaluru, Chennai, Hyderabad, Pune, Coimbatore, Trivandrum etc. and two countries abroad (Serbia and Malaysia).[1] Embassy Group is headed by Jitu Virwani, Chairman & Managing Director of the group.[2][3][4] Embassy also operates a real estate investment trust (REIT), called Embassy Office Parks REIT.[5] Embassy Office Parks is the first listed REIT in India and the Asia's largest office REIT by area.[5] Funding
ProjectsCommercial
ControversiesEmbassy REITIn November 2024, securities regulator SEBI pulled up Embassy Office Parks REIT Ltd for appointing a Aravind Maiya as CEO even though even though he had been found guilty for fraud earlier in the year. [8] After some resistance, to comply with SEBI's order, Embassy REIT eventually asked Aravind Maiya to step down from his position as CEO and instead appointed him as the Head of Strategy. This caused some controversy and the company was thought to have bypassed SEBI's order following it to the letter but not in principle.[9]
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