Embassy Developments Ltd
The Co. has a presence in residential real estate development from Affordable to Premium & Uber-luxury space. It mainly focuses on the construction and development of residential, commercial and SEZ projects across the Indian metro cities. Geographically, the Company’s strategic focus is in key markets of MMR and NCR Region. [1] [2]
- Market Cap ₹ 10,100 Cr.
- Current Price ₹ 72.6
- High / Low ₹ 164 / 72.2
- Stock P/E
- Book Value ₹ 82.4
- Dividend Yield 0.00 %
- ROCE 3.78 %
- ROE 5.20 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Stock is trading at 0.88 times its book value
- Company's median sales growth is 56.5% of last 10 years
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -0.79% over last 3 years.
- Promoters have pledged or encumbered 33.6% of their holding.
- Earnings include an other income of Rs.42.6 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 85 | 36 | 17 | 27 | 82 | 117 | 363 | 6 | 0 | 3 | 1,069 | 2,111 | 1,168 | |
| 60 | 31 | 47 | 44 | 38 | 73 | 293 | 22 | 18 | 23 | 1,065 | 1,814 | 1,089 | |
| Operating Profit | 25 | 4 | -29 | -17 | 45 | 44 | 70 | -17 | -18 | -20 | 4 | 297 | 80 |
| OPM % | 29% | 12% | -170% | -61% | 54% | 37% | 19% | -277% | -724% | 0% | 14% | 7% | |
| 302 | 283 | 408 | 398 | 301 | 438 | 191 | 41 | 10 | -347 | 17 | 56 | 43 | |
| Interest | 167 | 274 | 304 | 363 | 361 | 330 | 302 | 160 | 46 | 27 | 407 | 286 | 280 |
| Depreciation | 3 | 5 | 3 | 1 | 1 | 1 | 10 | 4 | 2 | 2 | 7 | 14 | 20 |
| Profit before tax | 157 | 9 | 72 | 17 | -16 | 150 | -51 | -139 | -55 | -396 | -393 | 52 | -178 |
| Tax % | 8% | -152% | 9% | -3% | 22% | 29% | 69% | 0% | 2% | 0% | -13% | -405% | |
| 145 | 23 | 66 | 17 | -20 | 106 | -85 | -140 | -56 | -397 | -342 | 264 | -174 | |
| EPS in Rs | 3.41 | 0.54 | 1.42 | 0.36 | -0.42 | 2.35 | -1.88 | -3.07 | -1.24 | -7.32 | -6.31 | 2.16 | -1.29 |
| Dividend Payout % | 88% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 50% |
| 5 Years: | 42% |
| 3 Years: | % |
| TTM: | -26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 49% |
| 3 Years: | 85% |
| TTM: | -155% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 1% |
| 3 Years: | -6% |
| 1 Year: | -47% |
| Return on Equity | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | -1% |
| 3 Years: | -1% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 85 | 85 | 92 | 96 | 95 | 90 | 91 | 90 | 91 | 108 | 108 | 244 | 274 |
| Reserves | 5,646 | 5,674 | 6,300 | 6,072 | 6,828 | 6,452 | 6,358 | 6,232 | 6,247 | 6,632 | -842 | 9,927 | 11,020 |
| 1,771 | 2,829 | 3,074 | 3,454 | 3,212 | 4,007 | 2,296 | 523 | 516 | 148 | 4,199 | 2,643 | 2,360 | |
| 91 | 127 | 92 | 110 | 58 | 110 | 107 | 18 | 25 | 4 | 3,819 | 3,146 | 2,526 | |
| Total Liabilities | 7,593 | 8,715 | 9,558 | 9,732 | 10,193 | 10,659 | 8,852 | 6,863 | 6,878 | 6,891 | 7,285 | 15,960 | 16,180 |
| 10 | 7 | 5 | 3 | 2 | 2 | 20 | 1 | 5 | 4 | 160 | 2,069 | 2,102 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 0 |
| Investments | 4,825 | 5,042 | 5,238 | 6,211 | 6,895 | 6,097 | 3,838 | 3,793 | 3,854 | 3,201 | 3,691 | 11,070 | 10,594 |
| 2,757 | 3,667 | 4,316 | 3,518 | 3,295 | 4,559 | 4,994 | 3,068 | 3,018 | 3,687 | 3,434 | 2,812 | 3,484 | |
| Total Assets | 7,593 | 8,715 | 9,558 | 9,732 | 10,193 | 10,659 | 8,852 | 6,863 | 6,878 | 6,891 | 7,285 | 15,960 | 16,180 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -64 | 13 | -483 | 385 | -57 | 26 | 111 | -13 | 6 | 17 | 70 | 580 | |
| -312 | -756 | 547 | -845 | 720 | -31 | 1,897 | 1,946 | 47 | -455 | -337 | 858 | |
| 431 | 765 | 521 | -173 | -693 | 18 | -2,020 | -1,941 | -47 | 438 | 189 | -1,413 | |
| Net Cash Flow | 55 | 22 | 585 | -633 | -31 | 13 | -12 | -8 | 5 | -1 | -77 | 25 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 3 | 4 | 61 | 25 | 8 | 18 | 0 | 0 | 0 | 93 | 2 | |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 3 | 4 | 61 | 25 | 8 | 18 | 0 | 0 | 0 | 93 | 2 | |
| Working Capital Days | 6,873 | 23,308 | 48,236 | 17,455 | 4,825 | 6,642 | 2,643 | 160,589 | 453,499 | -377 | -298 | |
| ROCE % | 5% | 4% | 3% | 4% | 3% | 5% | 3% | 0% | -0% | 0% | 0% | 4% |
Documents
Announcements
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Grant Of Stock Options And Performance Stock Units, Under Embassy Developments Limited Employee Stock Option Scheme - 2025.
20h - Granted 13,726,627 stock options and 7,504,957 PSUs on Dec 3, 2025; SO price ₹111.51.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015.
1d - 4,75,27,464 warrants lapsed; INR132.49 crore upfront consideration forfeited.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
24 Nov - Launching six residential projects in North Bengaluru worth ~₹10,300 crore; ~5.6mn sq.ft.; FY26 pre-sales target ₹5,000 crore.
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Announcement under Regulation 30 (LODR)-Allotment
20 Nov - Allotted 41,35,512 shares on Nov 20, 2025; received INR 34,58,63,207.34 consideration.
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Announcement under Regulation 30 (LODR)-Allotment
17 Nov - Allotment of 48,22,891 shares on Nov 17, 2025; INR 40.33 crore received.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Nov 2025TranscriptAI SummaryPPT
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Aug 2025TranscriptAI SummaryPPT
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Jun 2025TranscriptAI SummaryPPT
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May 2025TranscriptAI SummaryPPT
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Feb 2025TranscriptAI SummaryPPT
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Oct 2024TranscriptAI SummaryPPT
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Jun 2024TranscriptAI SummaryPPT
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Apr 2024TranscriptAI SummaryPPT
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Oct 2023TranscriptAI SummaryPPT
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Aug 2023TranscriptAI SummaryPPT
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Aug 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Jun 2022TranscriptPPT
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Feb 2022TranscriptAI SummaryPPT
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Jan 2022TranscriptAI SummaryPPT
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Nov 2017TranscriptAI SummaryPPT
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Sep 2017TranscriptAI SummaryPPT
Project Portfolio
The company has a total of 16 projects in 6 cities with a built-up area of 12.3 Mn Sq. ft (10.5 Residential and 1.8 Commercial). [1]