An embassy office in Bengaluru.
Bengaluru/Mumbai: Embassy Developments Ltd. (EDL), through its wholly owned subsidiary Embassy East Business Park Pvt Ltd., has signed definitive agreements with Lam Research (India) Private Limited, a leading global semiconductor equipment manufacturer, to sub-lease and subsequently divest, upon receipt of required regulatory approvals, 25 acres in Whitefield, Bengaluru.
The transaction is valued at Rs 1,125 crore.
This landmark transaction strengthens Bengaluru’s position as a global technology and innovation hub and further reinforces its appeal as a preferred destination for high-tech investments.
This engagement between EDL and a global semiconductor bellwether reflects the growing demand for world-class commercial infrastructure that caters to the evolving needs of cutting-edge industries.
Aditya Virwani, Managing Director, Embassy Developments Ltd., said, “We are delighted to partner with one of the world’s foremost semiconductor companies in this milestone transaction. Bengaluru remains a top choice for global corporations, and this transaction reaffirms EDL’s capability to unlock value through strategic asset monetisation. The proceeds from this sale will be reinvested into high-growth opportunities, strengthening our development pipeline and delivering sustained value to our stakeholders.”
With its robust infrastructure, thriving IT ecosystem, and access to a highly skilled talent pool, Whitefield continues to drive India’s emergence as a global technology powerhouse, he added.
The transaction is, however, subject to necessary regulatory approvals.
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