Embassy Developments

Quick check

The five things to look at first. Open one for more.

• DebtAdequate safetyRated A by Infomerics.
• ResultsLoss-makingLost ₹234 Cr in the Jun 2026 quarter, a bigger loss than a year earlier.
• DilutionSmall dilutionIssued 2.32 crore new shares in the last year (+1.8%), raising ₹194 Cr, partly to the promoters.
• PromotersSteadyThe promoters (founders or parent) own 43% of the company, about the same as in Jun 2025.
• ValuationNormal for this stockThe share trades at 58.8 times its yearly earnings (P/E), pricier than 54% of the time in the last 4 years. Its usual P/E is about 17.

Embassy Developments against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)58.8 against a typical 23.3: pricier than most peers (1st = cheapest).127th of 173
• Sales growth−68.1% against a typical +6.6% from a year earlier.116th of 134
• Share price, 3 months−21.6% against a typical −10.3%.116th of 147
• Size₹ 6,746 Cr. market value against a typical ₹ 129.6 Cr. (1st = largest).16th of 163

Exchange filings and their impact on the company.

• 27 Oct 2026Allotment of SecuritiesLow impactPositivePrice +4.8% so far today
  Promoter infused Rs 102 cr via 1.22 cr warrant conversion at Rs 111.51, raising promoter stake to 43.62%.

  Embassy Developments allotted 1.22 crore shares at Rs 111.51 per share on conversion of warrants held by promoter group company Embassy Property Developments, receiving Rs 102.03 crore being the balance 75% payment. Paid-up capital rose to 141.38 crore shares and promoter group holding increased from 43.13% to 43.62%. The cash infusion at a steep premium to the market price modestly strengthens net worth and reduces net debt.

  Full analysisFiling
• 23 Oct 2026Allotment of SecuritiesLow impactPositivePrice −0.5% on 26 Oct
  Promoter converted 1.1 crore warrants at Rs 111.51, infusing ~Rs 92 crore into the company.

  Embassy Developments allotted 1.1 crore equity shares at Rs 111.51 per share on conversion of warrants held by promoter Embassy Property Developments Private Limited. The company received the balance Rs 92 crore (75% of exercise price), taking paid-up capital to 140.16 crore shares. Promoter group holding rose to 43.13%, providing a small equity boost at a price well above the current market price.

  Full analysisFiling
• 12 Oct 2026Allotment of SecuritiesMedium impactPositivePrice +0.2% that day
  Promoter allotted 3.25 cr warrants at Rs 111.51 for up to Rs 362.6 cr, with Rs 90.7 cr paid upfront.

  Embassy Developments allotted 3,25,18,900 convertible warrants at Rs 111.51 each to promoter group firm Embassy Property Developments, for a total potential infusion of Rs 362.6 crore. The company received 25% upfront, or Rs 90.65 crore, with the balance payable on exercise within six months. The warrants convert into equal equity shares and will be locked in as per SEBI rules, with no immediate change to paid-up capital until exercised.

  Full analysisFiling
• 9 Oct 2026Change in ManagementLow impactNeutralPrice +0.2% on 12 Oct
  CEO Sachin Shah steps down on Dec 31 in a planned succession with MD Aditya Virwani becoming MD & CEO, ensuring leadership continuity.

  Embassy Developments said CEO & Executive Director Sachin Shah will resign effective December 31, 2026 and stay on as Senior Advisor to the Chairman and MD & CEO from January 1, 2027. Managing Director Aditya Virwani will be redesignated as Managing Director & CEO from January 1, 2027 for the rest of his term to February 24, 2030. The board said the move ensures continuity after a record FY26 performance, with an 11-project pipeline across Bengaluru, Mumbai and NCR.

  Full analysisFiling
• 8 Oct 2026General UpdatesHigh impactVery positivePrice −1.6% that day
  Record Rs 3225 cr Q2 pre-sales puts Embassy at 51% of Rs 8000 cr FY27 guidance, transforming near-term revenue visibility.

  Embassy Developments reported Q2FY27 pre-sales of about Rs 3,225 crore, up 272% quarter-on-quarter, taking H1FY27 pre-sales to about Rs 4,093 crore, up 574% year-on-year and 51% of its Rs 8,000 crore FY27 guidance. Collections were Rs 546 crore in Q2 and Rs 1,041 crore in H1, 35% of the Rs 3,000 crore guidance. It launched 3 projects with Rs 7,500 crore gross development value, selling Rs 933 crore, Rs 880 crore and Rs 758 crore within weeks, including a Rs 711 crore Mumbai home sale, while net institutional debt stood at Rs 3,732 crore. The strong sell-through materially improves revenue, cash flow and deleveraging visibility over the next 12 months.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Sachin Chittaranjan Shah

Chief Executive Officer, Executive Director

Rajesh Kaimal

Chief Financial Officer, Executive Director

Vikas Khandelwal

Compliance Officer, Company Secretary

Aditya Virwani

Managing Director, Executive Director