Indian property developer Embassy Developments is set to invest $495 million to build three luxury residential projects in Mumbai, targeting an expanding market for high-end homes among affluent buyers. The investment, announced by Managing Director Aditya Virwani, marks a significant strategic entry into India’s most dynamic real estate market, with developments planned in Worli, Juhu and Alibaug.
The company, a subsidiary of the Bengaluru-based Embassy Group, said the projects respond to rising demand from wealthy Indians, citing increased interest not just in luxury homes but also in premium consumer goods. The three developments are expected to generate around $1.32 billion in revenue upon completion.
Virwani described the strategy as focused on selective, high-value developments rather than high volume construction, reflecting a deliberate shift toward quality and exclusivity. The Worli project, centred on a single tower with three- to five-bedroom apartments priced between approximately $1.6 million and $3.3 million, is expected to take about eight years to complete.
The planned locations underline Embassy’s ambition to cement its presence in prime real estate corridors: Worli is known for premium residential demand, Juhu for its beachside appeal, and Alibaug as a high-end lifestyle destination near the coast. Each site offers distinct value propositions for luxury buyers, blending urban convenience with lifestyle appeal.
This investment dovetails with broader indicators of luxury real estate momentum in Mumbai, where developers are increasingly allocating capital to marquee residential addresses that command premium pricing. Embassy’s move follows trends of southern developers expanding westward into the Mumbai Metropolitan Region with substantial capital commitments and large gross development values, signalling heightened competition in the luxury segment.
