1. Embassy Zenith fully leased to Apple India - The 2,68,737 sq ft Embassy Zenith commercial building in central Bangalore has been leased to Apple India for 10 years, with a lease deed for the remaining 1,21,203 sq ft in progress, and an Occupancy Certificate already received. A fully pre-leased Grade A asset to a single AAA tenant locks in a visible, long-dated rental stream that underpins the real estate segment's cash flows.
2. Embassy Office Parks REIT acquisition process - An invitation to evaluate an acquisition of Embassy Zenith was issued to Embassy Office Parks REIT on 6 February 2026, opening a path to monetise the asset. A sale to the REIT would convert the future rental stream into an upfront capital receipt, potentially resetting the company's balance sheet.
3. ₹1,080 cr SBI term loan secured - The Board approved a ₹1,080 crore term loan from State Bank of India, sanctioned on 14 October 2025, secured by the Zenith land, building, and rental receivables. The loan provides dedicated, long-tenor funding for the completed asset, reducing refinancing uncertainty and supporting the demerger's capital structure.
4. Demerger into Embassy Prism Ventures clears BSE - The scheme to demerge the commercial real estate business into wholly owned subsidiary Embassy Prism Ventures received BSE's no-objection letter on 21 August 2025 and was filed with NCLT Bengaluru on 1 October 2025. Completion creates a pure-play real estate entity with focused management, which management expects will attract investors with matching risk profiles and unlock better valuation.
5. ₹540 cr NCD issuance backed by corporate guarantee - The Board approved a corporate guarantee for ₹540 crore of listed NCDs to be issued by subsidiary Mac Charles Hub Projects, with a 60-month tenor, from entities managed or identified by TOR Investment Management (HK). The guarantee channels institutional debt funding into the subsidiary, scaling its investment capacity without immediate equity dilution at the parent.