Valuation reports for proposed FIFC BKC retail acquisition; market value 545 (₹ Million)

Two independent valuation reports placed on record for the proposed acquisition of commercial premises at First International Financial Centre (FIFC), Bandra Kurla Complex, Mumbai.

Tue 6 Oct 2026

Market value (subject property)

545 (₹ Million)

Carpet area

5,231 sq. ft.

Leasable area

8,048 sq. ft.

Two independent valuation reports have been placed on record in connection with the proposed acquisition of commercial premises at First International Financial Centre (FIFC), Bandra Kurla Complex, Mumbai.

What the update places on record

• Two independent valuation reports, both dated October 05, 2026, relating to the proposed acquisition.
• The first is issued by Ms. L. Anuradha, MRICS, the independent valuer of Embassy REIT, with independent property consultant review services undertaken by Cushman & Wakefield (India) Private Limited.
• The second is from iVAS Partners, represented by Ms. Amrita Bhattacharya, a valuer as defined under the SEBI (Real Estate Investment Trusts) Regulations, 2014, with value assessment services undertaken by CBRE South Asia Private Limited.
• The reports are enclosed with the letter to the exchanges as Appendix I and Appendix II.

What is being valued

• Unit No. 001 on the ground floor of 'First International Financial Centre (FIFC)', plot no. C-54 & 55, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051.
• Area: 5,231 sq. ft. of carpet area, equivalent to 8,048 sq. ft. of leasable area.
• The unit comprises two retail premises occupied by reputed food chain operators, as per the report.
• The building is an operational commercial property of about 0.4 msf of leasable area, with an elevation of 2 basements + ground floor + 13 upper commercial floors.
• The report notes the property is about 2 km from Kurla Railway Station and 5 km from Bandra Railway Station.

The numbers

• Market value of the subject property: 545, shown in the summary table with values in ₹ Million. The table lists Unit No. 001 at 545 and a total of 545.
• Valuation date: 30 September 2026.
• Report date: 5 October 2026.
• Basis: Market Value, defined in the report as the estimated amount for which an asset should exchange on the valuation date between a willing buyer and a willing seller in an arm's-length transaction, after proper marketing and without compulsion.

How to read this

• The valuation is for the proposed purchase of the property by Embassy REIT under the SEBI REIT Regulations and for accounting purposes.
• It sets out the independent valuer's estimate of the market value of the asset proposed to be acquired.
• The report is based on lease deeds shared with the valuer and a site inspection, and notes the unit is occupied by food chain operators.
• The acquisition is described as proposed.

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