Indian Embassy and semiconductor equipment manufacturer Lam Research (India) signed a land agreement worth 11.25 billion rupees in Bangalore

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The transaction reflects the growing need for world-class commercial infrastructure to meet the changing needs of cutting-edge industries.

Embassy Developments Ltd. (EDL), through its wholly owned subsidiary Embassy East Business Park Pvt Ltd., has signed a definitive agreement with Lam Research (India) Private Limited, a leading global semiconductor equipment manufacturer, to sublease and subsequently divest approximately 25 acres of land in the Bangalore Whitefield, subject to the required regulatory approvals. The deal is worth Rs 11.25 billion. The transaction strengthens Bangalore's position as a global hub for technology and innovation and further strengthens its appeal as a destination of choice for high-tech investment. The collaboration between EDL and the global semiconductor leader reflects the growing need for a world-class business infrastructure that meets the evolving needs of the cutting-edge industry. Aditya Virwani, Managing Director, Embassy Developments Ltd., said: "We are pleased to complete this landmark transaction in partnership with one of the world's leading semiconductor companies. Bangalore remains the top choice for global businesses and this transaction once again demonstrates EDL's ability to unlock value through the monetization of strategic assets. Proceeds from this sale will be reinvested in high growth opportunities, strengthen our development pipeline and deliver ongoing value to our stakeholders."

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