The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Bellanza Developers Pvt Ltd & PACs

October 14, 2026 BSE Limited National Stock Exchange of India Embassy Developments Limited Limited Scrip Code: 532832 Symbol: EMBDL Office No 01-1001, WeWork, Blue Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Bandra-Kurla One Square, Udyog Vihar Phase 4 Rd, Dalal Street, Complex, Bandra (East), Gurugram, Haryana, 122016 MUMBAI – 400 001 MUMBAI – 400 051 Sub: Disclosure pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (“SEBI SAST Regulations”) Dear Sir/Madam, Pursuant to Regulation 29(2) of the SEBI SAST Regulations, we, the undersigned, hereby enclose the relevant disclosure in the prescribed format, in respect of acquisition of shares/voting rights in Embassy Developments Limited (“Target Company”). This is for your information and record. Thanking you, Yours truly, For Embassy Property For Bellanza Developers Developments Private Limited Private Limited Name- Devika Priyadarsini Name- Maria Rajesh Jitendra Mohandas Virwani Designation- Company Designation- Director Promoter Secretary Encl: as above Disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 Name of the Target Company (TC) Embassy Developments Limited (BSE Scrip Code: 532832; NSE Symbol: EMBDL) Name(s) of the acquirer and Persons Acting Acquirer(s): in Concert (PAC) with the acquirer 1. Bellanza Developers Private Limited (“Bellanza”) 2. Mr. Jitendra Mohandas Virwani (“JV”) 3. Embassy Property Developments Private Limited (“EPDPL”) PAC: 4. Mr. Aditya Virwani 5. Mr. Karan Virwani 6. Mr. Neel Virwani 7. OMR Investments LLP 8. JV Holding Private Limited Whether the acquirer belongs to Promoter / Yes Promoter group Name(s) of the Stock Exchange(s) where the BSE Limited (Scrip Code: 532832) shares of TC are Listed National Stock Exchange of India Limited (Symbol: EMBDL) Details of the acquisition / disposal as follows Number % w.r.t. total % w.r.t. total share/voting diluted capital share/voting wherever capital of the Applicable TC Before the acquisition under consideration, holding of: a) Shares carrying voting rights Acquirer: Bellanza: 9,05,49,979 6.7111%* 6.2962%^ Equity Shares 10,34,470 0.0767%* 0.0719%^ Equity Shares EPDPL: 19,37,92,592 14.3629%* 13.4750%^ Equity Shares PACs: 21.8102%* 20.4619%^ 29,42,75,515 Equity Shares b) Shares in the nature of encumbrance - - - (pledge/ lien/ non- disposal undertaking/ others) c) Voting rights (VR) otherwise than by - - - shares d) Warrants/convertible securities/any other Acquirer: instrument that entitles the acquirer to Bellanza: - 0.9371%^ receive shares carrying voting rights in the 1,34,76,567 Warrants# TC (specify holding in each category) e) Total (a+b+c+d) 57,96,52,556 Equity 42.9608%* 41.2422%^ Shares & 1,34,76,567 Warrants Details of acquisition/sale a) Shares carrying voting rights acquired/sold Acquirer: Bellanza: 1,34,76,567 0.9691%** 0.9341%^^ Equity Shares# 3,48,500 Equity Shares 0.0251%** 0.0242%^^ b) VRs acquired /sold otherwise than by - - - equity shares c) Warrants/convertible securities/any other Acquirer instrument that entitles the acquirer to receive shares carrying voting rights in EPDPL: the TC (specify holding in each category) 3,25,18,900 Warrants - 2.2541%^^ acquired /sold d) Shares encumbered /invoked /released by - - - the acquirer e) Total (a+b+c+/-d) 1,38,25,067 Equity 0.9942%** 3.2124%^^ Shares & 3,25,18,900 Warrants After the acquisition /sale, holding of: a) Shares carrying voting rights Acquirer: Bellanza: 10,40,26,546 7.4805%** 7.2108%^^ Equity Shares 13,82,970 0.0994%** 0.0959%^^ Equity Shares EPDPL: 19,37,92,592 13.9356%** 13.4330%^^ Equity Shares PACs: 29,42,75,515 21.1613%** 20.3982%^^ Equity Shares b) Shares encumbered with the acquirer - - - c) VRs otherwise than by equity shares - - - d) Warrants/convertible securities /any Acquirer: other instrument that entitles the acquirer to receive shares carrying voting rights in the EPDPL: TC (specify holding in each category) after 3,25,18,900 Warrants - 0.2541%^^ acquisition e) Total (a+b+c+d) 59,34,77,623 Equity 42.6768%** 43.3919%^^ Shares & 3,25,18,900 Warrants Mode of acquisition / sale (e.g. open market / 1. Bellanza: Allotment of an aggregate of 1,34,76,567 Equity off-market / public issue / rights issue / Shares (i.e. 53,80,500 Equity Shares on August 20, 2025 and preferential allotment / inter-se transfer etc). 80,96,067 Equity Shares on October 13, 2025, respectively), pursuant to the conversion of equivalent warrants into Equity Shares, which were earlier allotted pursuant to the preferential allotment on private placement basis in terms of Chapter V of SEBI (ICDR) Regulations, 2018. 2. JV: Purchase of 3,48,500 Equity Shares on September 30, 2026, from open market. 3. EPDPL: An aggregate of 3,25,18,900 unlisted warrants, convertible into an equivalent number of fully paid-up equity shares of the Target Company having a face value of INR 2/- each (“Equity Shares”), were allotted by the Target Company on October 12, 2026 pursuant to the preferential allotment on private placement basis in terms of Chapter V of SEBI (ICDR) Regulations, 2018. Date of acquisition of / sale of shares / VR or During the period starting from August 20, 2025 till October 12, date of receipt of intimation of allotment of 2026, the details of which are given above. shares, whichever is applicable Equity share capital / total voting capital of INR 269,85,16,044 comprising 134,92,58,022 Equity Shares the TC before the said acquisition /sale (i.e. as of May 26, 2025, being the date of last disclosure under Regulation 29(2) of the SEBI SAST Regulations by one of the Acquirers, Bellanza). Equity share capital/ total voting capital of INR 278,12,66,866 comprising 139,06,33,433 Equity Shares. the TC after the said acquisition /sale (i.e. as on date of this disclosure) Total diluted share/voting capital of the TC INR 288,53,11,950 comprising after the said acquisition a) 139,06,33,433 outstanding Equity Shares, as on date of this disclosure; b) 3,25,18,900 Equity Shares arising out of conversion of 100% of the outstanding warrants into equivalent number of Equity Shares, as on date of this disclosure; and c) 1,95,03,642 Equity Shares arising out of exercise of all outstanding employee stock options, as per the last filing of shareholding pattern to the stock exchanges by the Company. #An aggregate of 1,34,76,567 convertible Warrants were held by Bellanza, which were issued and allotted by the Target Company pursuant to the preferential allotment on private placement basis in terms of Chapter V of SEBI (ICDR) Regulations, 2018. These outstanding Warrants were exercised and converted into equivalent Equity Shares (i.e. 53,80,500 Equity Shares on August 20, 2025 and 80,96,067 Equity Shares on October 13, 2025, respectively). *The percentage has been computed on the paid-up share capital of the Target Company, on a non-diluted basis, as on May 26, 2025, being the date of last disclosure under Regulation 29(2) of the SEBI SAST Regulations by one of the Acquirers, Bellanza, aggregating to INR 269,85,16,044 (comprising 134,92,58,022 outstanding Equity Shares). ^The percentage has been computed on the paid-up share capital of the Target Company on a fully diluted basis, as on May 26, 2025, being the date of last disclosure under Regulation 29(2) of the SEBI SAST Regulations by one of the Acquirers, Bellanza, aggregating to INR 287,63,21,794 (comprising (a) 134,92,58,022 outstanding Equity Shares; and (b) 8,89,02,875 outstanding warrants convertible into equivalent number of Equity Shares). **The percentage has been computed on the paid-up share capital of the Target Company, on a non-diluted basis, aggregating to INR 278,12,66,866 (comprising 139,06,33,433 outstanding Equity Shares, as on date of this disclosure). ^^The percentage has been computed on the paid-up share capital of the Target Company on a fully diluted basis, aggregating to INR 288,53,11,950 (compris [Showing first 8,000 characters — download PDF for full document]