Embassy Developments signs MoU for Rs 1,500 crore Lucknow project
EMBDL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Embassy Developments has signed a non-binding MoU with the Uttar Pradesh government under the Invest UP framework for a proposed Rs 1,500 crore commercial real estate project in Lucknow. The plan involves 2.5 to 3.0 million sq ft of office-led commercial development. The MoU was signed in Bengaluru in the presence of UP CM Yogi Adityanath and other officials. This marks the company's proposed entry into UP's commercial real estate market. Embassy has a track record of 100 million sq ft across sectors.
Positive for growth outlook as it signals entry into UP with a large project, but the MoU is non-binding and the project is still proposed, not finalized.