Embassy Developments Ltd
₹ 61.7
-4.47%
22 May
- close price
About
Incorporated in 2006, Embassy Developments Ltd is a real estate developer of residential, commercial, and SEZ projects.[1]
Key Points
- Market Cap ₹ 8,582 Cr.
- Current Price ₹ 61.7
- High / Low ₹ 128 / 39.4
- Stock P/E
- Book Value ₹ 81.3
- Dividend Yield 0.00 %
- ROCE -0.83 %
- ROE -2.65 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Stock is trading at 0.76 times its book value
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -2.07% over last 3 years.
- Promoters have pledged 68.2% of their holding.
- Working capital days have increased from -95.6 days to 388 days
* 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.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 36 | 17 | 27 | 82 | 117 | 363 | 6 | 0 | 3 | 1,069 | 2,111 | 412 | |
| 31 | 47 | 44 | 38 | 73 | 293 | 22 | 18 | 23 | 1,065 | 1,814 | 603 | |
| Operating Profit | 4 | -29 | -17 | 45 | 44 | 70 | -17 | -18 | -20 | 4 | 297 | -191 |
| OPM % | 12% | -170% | -61% | 54% | 37% | 19% | -277% | -724% | 0% | 14% | -46% | |
| 283 | 408 | 398 | 301 | 438 | 191 | 41 | 10 | -347 | 17 | 56 | 116 | |
| Interest | 274 | 304 | 363 | 361 | 330 | 302 | 160 | 46 | 27 | 407 | 286 | 189 |
| Depreciation | 5 | 3 | 1 | 1 | 1 | 10 | 4 | 2 | 2 | 7 | 14 | 31 |
| Profit before tax | 9 | 72 | 17 | -16 | 150 | -51 | -139 | -55 | -396 | -393 | 52 | -296 |
| Tax % | -152% | 9% | -3% | 22% | 29% | 69% | 0% | 2% | 0% | -13% | -405% | -4% |
| 23 | 66 | 17 | -20 | 106 | -85 | -140 | -56 | -397 | -342 | 264 | -283 | |
| EPS in Rs | 0.54 | 1.42 | 0.36 | -0.42 | 2.35 | -1.88 | -3.07 | -1.24 | -7.32 | -6.31 | 2.16 | -2.04 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 37% |
| 5 Years: | 133% |
| 3 Years: | 429% |
| TTM: | -80% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -216% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -4% |
| 5 Years: | -8% |
| 3 Years: | -1% |
| 1 Year: | -42% |
| Return on Equity | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | -1% |
| 3 Years: | -2% |
| Last Year: | -3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 85 | 92 | 96 | 95 | 90 | 91 | 90 | 91 | 108 | 108 | 244 | 278 |
| Reserves | 5,674 | 6,300 | 6,072 | 6,828 | 6,452 | 6,358 | 6,232 | 6,247 | 6,632 | -842 | 9,927 | 11,022 |
| 2,829 | 3,074 | 3,454 | 3,212 | 4,007 | 2,296 | 523 | 516 | 148 | 4,199 | 2,643 | 1,978 | |
| 127 | 92 | 110 | 58 | 110 | 107 | 18 | 25 | 4 | 3,819 | 3,146 | 2,680 | |
| Total Liabilities | 8,715 | 9,558 | 9,732 | 10,193 | 10,659 | 8,852 | 6,863 | 6,878 | 6,891 | 7,285 | 15,960 | 15,959 |
| 7 | 5 | 3 | 2 | 2 | 20 | 1 | 5 | 4 | 160 | 2,069 | 2,062 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 0 |
| Investments | 5,042 | 5,238 | 6,211 | 6,895 | 6,097 | 3,838 | 3,793 | 3,854 | 3,201 | 3,691 | 11,070 | 9,597 |
| 3,667 | 4,316 | 3,518 | 3,295 | 4,559 | 4,994 | 3,068 | 3,018 | 3,687 | 3,434 | 2,812 | 4,300 | |
| Total Assets | 8,715 | 9,558 | 9,732 | 10,193 | 10,659 | 8,852 | 6,863 | 6,878 | 6,891 | 7,285 | 15,960 | 15,959 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 13 | -483 | 385 | -57 | 26 | 111 | -13 | 6 | 17 | 70 | 580 | -199 | |
| -756 | 547 | -845 | 720 | -31 | 1,897 | 1,946 | 47 | -455 | -337 | 858 | 55 | |
| 765 | 521 | -173 | -693 | 18 | -2,020 | -1,941 | -47 | 438 | 189 | -1,413 | 352 | |
| Net Cash Flow | 22 | 585 | -633 | -31 | 13 | -12 | -8 | 5 | -1 | -77 | 25 | 209 |
| Free Cash Flow | 10 | -484 | 385 | -57 | 25 | 111 | -13 | 6 | 16 | 62 | 564 | -221 |
| CFO/OP | 1,013% | 1,580% | -2,364% | -92% | 82% | 128% | 423% | 57% | 108% | 1,989% | 198% | 104% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 4 | 61 | 25 | 8 | 18 | 0 | 0 | 0 | 93 | 2 | 5 | |
| Inventory Days | 922 | |||||||||||
| Days Payable | 568 | |||||||||||
| Cash Conversion Cycle | 4 | 61 | 25 | 8 | 18 | 0 | 0 | 0 | 93 | 2 | 359 | |
| Working Capital Days | 23,308 | 48,236 | 17,455 | 4,825 | 6,642 | 2,643 | 160,589 | 453,499 | -377 | -298 | 388 | |
| ROCE % | 4% | 3% | 4% | 3% | 5% | 3% | 0% | -0% | 0% | 0% | 4% | -1% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pre-Sales Value INR Cr |
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| Total Development Portfolio msf |
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| New Sales Area (Area Sold) msf |
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| Total Collections INR Cr |
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| Total Land Bank Acres |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - May 21, 2026 earnings call recording shared; management clarified low share-price remarks on potential dilution.
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Investor Update For The Quarter And Financial Year Ended March 31, 2026
2d - Q4 FY26 pre-sales rose 89% to INR 2,632 Cr; FY26 pre-sales hit INR 4,631 Cr, with two legal wins.
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Announcement under Regulation 30 (LODR)-Change in Management
20 May - Board approved audited FY26 results on May 20, 2026; appointed Chirag Boonlia as CTO.
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Grant Of Stock Options And Performance Stock Units, Under Embassy Developments Limited Employee Stock Option Scheme - 2025
20 May - Board committee approved 2,72,935 stock options and 1,65,887 PSUs under ESOS 2025.
- Outcome Of The Meeting Of The Board Of Embassy Developments Limited And Submission Of Audited Financial Results For The Quarter And Financial Year Ended March 31, 2026 20 May
Annual reports
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Financial Year 2025
from bse
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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
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
Concalls
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May 2026Transcript PPT
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Feb 2026Transcript PPT REC
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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
Business Overview:[1][2]
a) EDL (formerly known as Equinox India Developments Limited and earlier Indiabulls
Real Estate Limited) is a part of the Embassy Group.
b) Headquartered in Bengaluru, it has
delivered over 75 million sq. ft. of premium
real estate across India’s major cities and
select international markets.
c) It has introduced India’s 1st publicly
listed Real Estate Investment Trust -
Embassy REIT and were instrumental
in bringing WeWork to India.
d) The company is a real estate developer which specializes in the construction and development of residential, commercial, and Special Economic Zone projects across Indian cities, with a strategic focus on Bengaluru, the Mumbai Metropolitan Region, and the National Capital Region.