Bengaluru, June 23 -- The shares of this realty-based company surged by approximately 5 percent after the company announced that it had signed a joint development agreement for a residential project in Whitefield, Bengaluru.

With a market capitalisation of Rs 16,506 crores, the shares of Embassy Development Ltd are currently trading at Rs 121 per share, down by 26.4 percent from its 52-week high of Rs 164.40 per share. In the last six months, the stock has delivered a positive return of 3 percent.

Embassy Developments Ltd. has entered into a Joint Development Agreement for a 17.9-acre parcel of land in Whitefield, Bengaluru, to develop a premium residential project with an estimated Gross Development Value (GDV) of Rs 1,600 crore.

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