Startup Originals Team
Jitendra “Jitu” Virwani, a Bengaluru-based real estate tycoon, is the founder, Chairman and Managing Director of Embassy Group, one of India’s most successful and diversified real estate developers. Through decades of strategic vision, resilient leadership and global partnerships, he has grown his company into a multi-vertical empire spanning commercial, residential, industrial, hospitality, retail and education real estate, with an estimated net worth placing him among India’s wealthiest real estate magnates.
Early Beginnings and Foundation of Embassy Group
Embassy Group was established in 1993 in Bengaluru under Jitu Virwani’s leadership, at a time when India’s organised real estate sector was still in its infancy. Starting small, Virwani focused on commercial real estate and office parks, building what would become a network of landmark developments across India, from Bengaluru and Chennai to Pune and Delhi NCR, as well as overseas projects in markets such as Serbia and Malaysia.
Diversification and Visionary Growth
Under Virwani’s stewardship, Embassy Group expanded far beyond traditional commercial spaces. The company developed residential communities, hospitality projects, industrial warehouses, retail complexes and even educational campuses. It also built Embassy Office Parks REIT, the first listed real estate investment trust in India and the largest office REIT in Asia by area, turbocharging the firm’s growth and institutional investment footprint.
Embassy’s vast portfolio and land bank, including millions of square feet of office and mixed-use space – helped the group establish dominance in India’s real estate market and attract global partners and investors.
Global Partnerships and Market Leadership
Virwani’s ability to forge strong international alliances with partners like Blackstone, Warburg Pincus and other marquee investors has been a hallmark of Embassy Group’s journey. These collaborations provided not only capital but also strategic insight that helped the group scale aggressively even in cyclical downturns.
His leadership positioned Embassy Group not just as a builder but as an institutional power player – especially in commercial real estate, where office parks and mixed-use developments became flagship projects defining Bengaluru’s skyline.
Personal Wealth and Lifestyle
Jitu Virwani’s entrepreneurial success has translated into significant personal wealth. He is widely recognised among India’s richest real estate developers, with estimated net worths reported in the multi-thousand crore range (many estimates place him well over ₹20,000–₹40,000 crore depending on asset valuations and REIT stakes).
Part of this success is reflected in his ownership of luxury assets, including a private jet reportedly valued around ₹200 crore, symbolising the scale and stature he has achieved in business and beyond.
A Legacy of Resilience and Innovation
Throughout his career, Virwani has navigated market slowdowns, economic cycles and sector challenges with strategic clarity and long-term thinking. From pioneering large-format office parks to launching one of the country’s first and most successful real estate REITs, his adaptability and foresight have helped Embassy Group lead where others hesitated.
Conclusion
Jitu Virwani’s journey from a real estate entrepreneur in Bengaluru to the head of a ₹40,000-plus crore empire exemplifies visionary leadership and strategic expansion. By building Embassy Group into a diversified, globally connected property powerhouse and owning lifestyle symbols such as a high-end private jet, he stands as a testament to India’s skyline-shaping leaders in real estate.
