Here's what drove Embassy Developments shares higher by 3% on Feb 17
Embassy Developments shares have bounced 17.61 per cent from their 52-week low of ₹55.69 per share touched last month on January 5
 "Here's what drove Embassy Developments shares higher by 3% on Feb 17")
Shares of real estate player Embassy Developments were in high demand on the bourses on Tuesday, February 17, 2026, after the company announced that it had received approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for its residential project in Alibaug. Following the update, the company’s share price rose 3.55 per cent to ₹65.50 per share on the NSE during early trade on Tuesday.
The company’s shares have bounced 17.61 per cent from their 52-week low of ₹55.69 per share touched last month on January 5.
Though Embassy Developments’ shares have partially pared their gains, they continued to trade higher on the bourses. At 09:26 AM, the company’s shares were seen exchanging hands at ₹64.70 per share, up 2.45 per cent from their previous close of ₹63.25 per share on the NSE. The benchmark NSE Nifty50, meanwhile, was trading at 25,590, down 92 points, or 0.36 per cent.
The company’s market capitalisation stood at ₹2,29,947.45 crore on the NSE as of January 29. The company’s shares have a 52-week range of ₹137.90–₹55.69 per share.
RERA nod for first Alibaug project
The northward movement in the company’s share price followed its announcement that it had received approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for Phase I of Embassy Serenity, its first residential project in Alibaug within the Mumbai Metropolitan Region (MMR), marking the company’s entry into the lifestyle and second-home segment.
According to a filing submitted by the company, the overall project spans approximately 0.2 million sq. ft. of RERA carpet area with an estimated gross development value (GDV) of around ₹400 crore. Set across a 7-acre land parcel, the approved phase will feature five G+5 towers comprising 52 spacious residences in duplex and simplex configurations. The project launch is planned for this quarter, with possession targeted for 2030, subject to regulatory approvals and construction progress.
Commenting on the development, Sachin Shah, CEO and executive director of Embassy Developments, said the company sees a “structural shift” in demand patterns in Alibaug rather than a passing trend.
He noted that for high- and ultra-high-net-worth individuals, a second home is increasingly viewed as an extension of their primary residence, with greater emphasis on privacy, space, service and overall setting. The Embassy Serenity project, he said, has been designed as a low-density, professionally managed residential retreat offering a hillside setting along with the group’s design and management standards.
"It is a low-density, managed residential retreat that offers the calm of a secluded hillside with the assurance of professional management and design excellence that Embassy is known for. As connectivity between Mumbai and Alibaug continues to improve, we believe this micro-market will increasingly mirror the evolution of premium coastal living seen globally” said Shah.