The Bangalore based Embassy Group has entered into a new joint venture with private equity firm Warburg Pincus to build warehouses across the country and it is said the investment is around Rs.1,600 Crores and the investment in a new area of real estate in India, under the name and style of Embassy Industrial Parks, includes equity investment of $175 million from the New York-based company and $75 million from Embassy.
The group is said to have a good backing and blessing of powerful rich politicians.