Announced Mon, 15 Jun · 08:29 IST
Embassy Developments awards ₹850 cr construction contract for Mumbai project
Business Updates View source PDF
EMBDL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+11.9%1-day move
₹59.16
prior close
₹61.26
base price
After-mkt
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+1.5+1.2+1.5+0.8+11.9+8.2+8.7+5.5+4.6+3.9+4.5+7.3——
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AI summary
Embassy Developments has awarded a construction contract worth over ₹850 crore to Leighton Asia (part of CIMIC Group) for its Embassy Citadel ultra-luxury project in Worli, Mumbai. Leighton Asia will handle complete civil and structural works. The ~1.6 million sq. ft. development has an estimated gross development value of ~₹8,800 crore and will feature 316 residences (3, 4, 5 BHK plus 2 triplex mansions) with amenities across seven lifestyle floors and a 79th-floor Sky Lounge.
Likely market impact
Positive - tie-up with a credible global construction partner de-risks execution of the ₹8,800 crore GDV flagship project.