Embassy Developments Limited (EMBDL) has acquired 100% equity shares of Squadron Developers Private Limited (SDPL) on June 26, 2025.
The acquisition cost is ₹456.61 crore, based on closing adjustments to an agreed enterprise value of ₹455 crore.
SDPL has become a wholly-owned subsidiary of EMBDL.
This acquisition is part of EMBDL's growth strategy to build a robust pipeline of new launches and expand its presence in the key markets of Bengaluru.
SDPL is involved in the construction and development of real estate, with a proposed residential development of approximately 1.27 million sq ft (11.8 lakh sq ft) of premium and luxury apartments in North Bengaluru.
The project is situated on a ~10.59 acre land parcel at Embassy Hub, Yelahanka, Bengaluru, with SDPL owning ~7.49 acre and having development rights on ~3.10 acre through a Joint Development Agreement.
The acquisition was a related party transaction, which was approved by the Company's shareholders.