By: ICN Bureau
Last updated : March 21, 2025 12:10 pm
The deal reflects the growing demand for worldclass commercial infrastructure that caters to the evolving needs of cutting-edge industries
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 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 worldclass 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.
The transaction is subject to necessary regulatory approvals.