Embassy Group plans ₹600-cr Industrial Park in NCR

Embassy Group in a joint venture with Warburg Pincus recently acquired a 110-acre land parcel in Haryana's Farrukhnagar town on the outskirts of Gurgaon in NCR to build a 3-million sq-ft industrial park entailing an investment of ₹600 crore, said an official spokesperson, claiming that the industrial and warehousing solution providing company has already leased out 1 million sq ft of the proposed development. The Farrukhnagar industrial park is part of Embassy Industrial Parks' ₹1,910-crore Memorandum of Understanding (MoU) it signed with the government of Haryana. As part of this pact, the company has developed a 6 lakh sq ft industrial park in Bilaspur in Haryana and that was also sold out before its completion. This has resulted in Embassy leasing out total 1.6 million sq ft within 24 months since signing the MOU with the Haryana government.