- Business
- Mac Charles (India) Limited engages primarily in the generation of electricity through wind turbine generators located in Gadag and Bellary Districts of Karnataka, India, and in the construction and leasing of commercial real estate properties; its segments comprise sale of electricity to utilities such as GESCOM and HESCOM, group captive consumption, and third-party consumers, alongside office rentals and property development. Incorporated in 1979 and headquartered at Embassy Point, 150 Infantry Road, Bengaluru, India, the company operates wholly owned subsidiaries including Blue Lagoon Real Estate Private Limited, Neptune Real Estate Private Limited, and Mac Charles Hub Projects Private Limited (formerly Embassy Bhivandi Projects Private Limited); it is a subsidiary of Embassy Property Developments Private Limited, which holds a 73.41% stake acquired in 2016.
The company generates wind power via five units in Bellary and additional capacity in Gadag for captive use and merchant sales, while its real estate activities focus on Grade-A commercial developments including Project Zenith—a landmark office tower with two basements plus 27 floors on 2.27 acres at the former Le Meridien Hotel site in Bengaluru's CBD along Sankey Road, offering panoramic golf course views and approximately 550,000 square feet of leasable area—and Project Embassy Hub involving land acquisitions via outright purchases and joint development agreements for further commercial leasing.
In recent developments, Mac Charles advances construction on Project Zenith, with basement work underway since fiscal 2023 and completion targeted for early 2025; it signed a 10-year lease for 268,737 square feet with Apple India Pvt Ltd, secured full debt tie-ups for both Zenith and Embassy Hub projects, divested its stake in Airport Golfview Hotels & Suites Pvt Ltd in 2022 to exit hospitality, and filed a first motion application with the NCLT Bengaluru Bench in October 2025 for a Scheme of Arrangement with Embassy Prism Ventures Limited under Sections 230-232 of the Companies Act, 2013, following BSE observations.