Embassy to buy partner's 50% in Devanahalli senior living venture for ₹32.65 crore
The deal makes Embassy Columbia a wholly owned subsidiary and ends its joint venture, with completion targeted by 31 December 2026.
Key points
- Embassy Developments will pay ₹32.65 crore in cash for the 50% stake held by CP Senior Housing (India) LLC.
- The share purchase agreement was signed on 28 October 2026 and announced on 29 October 2026.
- After closing, Embassy Columbia Pacific ASL becomes a wholly owned subsidiary; completion is targeted by 31 December 2026.
- The target's main asset is Embassy Serene Amara in Devanahalli, with 239 units launched and possession stated for 31 December 2026.
Embassy Developments will pay ₹32.65 crore to buy the other 50% of its senior living joint venture in Bengaluru, the company said in a stock exchange filing dated 29 October 2026.
The seller is CP Senior Housing (India) LLC, a US entity. The company said the share purchase agreement was signed on 28 October 2026. The stake is 1,12,44,599 equity shares of ₹10 face value each. The price is based on the enterprise value of Embassy Columbia Pacific ASL Private Limited and will be paid in cash.
What changes after closing
Once the deal closes, Embassy Columbia becomes a wholly owned subsidiary and the existing joint venture ends. The company said the aim is to consolidate its interest and strengthen control and operational integration.
The filing says the deal is not a related party transaction, because the seller is not a related party of the listed company. Completion is targeted by 31 December 2026, subject to customary closing conditions.
The target company was incorporated on 27 April 2021. It reported nil turnover in FY2023-24 and FY2024-25, and turnover of ₹41.87 crore in FY2025-26.
The project behind the stake
The target's main asset is Embassy Serene Amara, a senior living project at Embassy Springs in Nagamangala village, Kundana Hobli, Devanahalli taluk. The site covers about 2.44 acres, with 239 units launched and 17 floors. The project is listed as under construction.
The developer says the project will be ready for possession by 31 December 2026. The listing shows no starting price and reads 'Price on Request'.
Devanahalli sits on Bellary Road (NH 44), a six-lane highway that runs signal-free from Hebbal to Kempegowda International Airport, about 40 km north of the city centre. The Blue Line metro extension from KR Puram to the airport is under construction, with opening pushed to around 2027. Sources differ on whether that will be June or December 2027. The Satellite Town Ring Road passes near the area, but its completion date has not been confirmed. The 3,000-acre KIADB Aerospace Park and SEZ is also nearby.
The developer's Bengaluru push
Embassy Developments Limited is listed on the NSE (EMBDL) and BSE (532832). In November 2025, the company said it planned six new residential projects in North Bengaluru worth about ₹10,300 crore in FY26, with a pre-sales target of ₹5,000 crore.
Exchange filings show a 23 October 2026 allotment of about 1.10 crore shares raising about ₹92 crore. On 27 October 2026, about 1.22 crore warrants were converted, bringing in ₹102.03 crore.
Commentary on the deal has named the scaling of Serene Amara as the main project risk. That is a view from outside the company, not a company statement.
For buyers, the filing does not say what the deal means for Serene Amara. The company has not changed the possession date it has published. Buyers should confirm timelines directly with the developer.
The number to watch is 31 December 2026. That is the date by which the purchase is due to close, and the date the company has given for possession at Serene Amara.
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