Embassy Developments Limited — Board Meeting, 25-02-2025: Outcome of Board Meeting

The Board of Embassy Developments Limited has made significant management changes, appointing Mr. Aditya Virwani as Managing Director and approving Mr. Sachin Shah as CEO & Executive Director, with both appointments subject to shareholder approval. Key appointments include Mr. Rajesh Kaimal as CFO and Mr. Vikas Khandelwal as Company Secretary.

The Board also approved two land acquisitions in Bengaluru totaling ₹559 Cr, facilitating a robust project pipeline. Additionally, they authorized raising up to ₹2,000 Cr through equity issuance and introduced a new Employee Stock Option Plan for up to 4.5 crore options, subject to shareholder consent. Lastly, the registered office will shift to Bengaluru, with an extraordinary general meeting scheduled for shareholder votes on these matters.