Embassy group looking to monetise warehousing biz at a value of Rs 2,000 cr

The group is in talks with few potential buyers to monetise completed and under-construction assets of the JV

Leading realty firm Embassy group is exploring various options to monetise its warehousing and industrial parks business at an enterprise value of Rs 1,700-2,000 crore, sources said.

Bengaluru-based Embassy group, which had in 2015 formed a joint venture with private equity firm Warburg Pincus to build industrial parks, is in talks with few potential buyers to monetise completed and under-construction assets of the JV.

Embassy Industrial Parks, the joint venture firm, is developing warehousing projects at Chakan in Pune, Sriperumbudur and Hosur in Tamil Nadu; Farrukhnagar and Bilaspur in Delhi NCR; and Kothur in Hyderabad.

The total portfolio of the JV firm is