Embassy enters Chennai with residential township

EMBASSY PROPERTY DEVELOPMENTS LIMITED TO ENTER CHENNAI WITH RESIDENTIAL TOWNSHIP
Embassy Property Developments Limited, a property development company, is developing, through its associate company, RGE Constructions and Development Private Limited, Embassy Residency, Chennai which covers 25 acres and is the first integrated township in close proximity to Chennai city. Embassy Residency is located in Perumbakkam near Chennai city. The project comprises 2,037 two-bedroom apartments, 556 three-bedroom apartments and 528 units for the Economically Weaker Section (“EWS”). The first phase offers apartments ranging between 650 sq. ft. to 1,400 sq. ft.

The project has environmentally friendly features such as atmospheric potable water, rain water harvesting, energy saving devices such as solar power water heaters and yard lighting, and clay hollow bricks used for non-load bearing partition walls. The indoor and outdoor attractions of the project are landscaping and lagoons, a gymnasium and fitness centre, swimming pool, jogging track, play area for children, pharmacy, a school, day care centre, bank with safe deposit lockers, café, a clubhouse, 24-hour security and a multipurpose hall.

Embassy Property Developments Limited is a leading real estate development company in India. The company, together with its Promoters, has 25 years of experience in real estate development, having developed an aggregate of 24.54 million sq. ft. of developable area in the commercial, residential and retail segments of the real estate market. The company’s projects are primarily based in Bangalore, and it has a growing presence in southern and western India, as well as a presence in overseas locations such as Malaysia and Serbia.

The company has completed 62 domestic and international commercial projects comprising a developable area of 18.73 million sq. ft. In addition, the company has also completed 19 residential projects comprising a developable area of 5.30 million sq. ft. Some of Embassy’s noted clients are Alcatel-Lucent, Atos Origin, ANZ, Cognizant, Computer Science Corporation, Fidelity, Geometric, IBM, LG Soft India, McAfee, Mercedes-Benz, Microsoft, NetApp, Nokia Siemens Networks, Supervalu, Target, Vodafone and Yahoo!.

Embassy Property Developments Limited has recently filed its Draft Red Herring Prospectus (“DRHP”) with the Securities & Exchange Board of India to enter the capital market with its initial public offering of its equity shares. The offer consists of a fresh issue of equity shares with a face value of Rs. 10 each, at a price to be decided through the 100% book building process. The Equity Shares offered through this Issue are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.

The joint global coordinators and book running lead managers to the issue are UBS Securities India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited. The other book running lead managers are Citigroup Global Markets India Private Limited and Edelweiss Capital Limited, while Karvy Computershare Private Limited is the registrar to the issue.