Embassy Park plans ₹600 cr realty project in NCR

Embassy Industrial Park, which is a joint venture company between Warburg Pincus and Embassy Group, has planned a ₹600 crore real estate project on a 110-acre land parcel in Haryana's Farrukhnagar town on the outskirts of Gurgaon. The company will develop a 3-mn sq.ft industrial park on this land parcel. The industrial and warehousing solutions company has already leased out 1 million sq ft of this proposed development. In 2015, Warburg Pincus and Embassy Group had together infused $250 million equity capital to build industrial and warehousing spaces across India and will have 1million sq ft fully operational and 3 million sq.ft of partly ready, under-construction, but leased space. By 2019-end, it will have 6-7 parks operational and by the end of 2020, it will increase this number to 9-10 operational parks, CEO, Embassy Industrial Parks, Anshul Singhal said.