Embassy Developments Ltd

₹ 96.7 -1.52%

16 Sep 12:27 p.m.

About

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]

Key Points

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]

Website BSE NSE

Market Cap ₹ 13,212 Cr.
Current Price ₹ 96.7
High / Low ₹ 164 / 89.2
Stock P/E
Book Value ₹ 76.2
Dividend Yield 0.00 %
ROCE 3.19 %
ROE 2.53 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is expected to give good quarter

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -0.92%
The company has delivered a poor sales growth of -7.79% over past five years.
Company has a low return on equity of -9.83% over last 3 years.
Company might be capitalizing the interest cost
Promoters have pledged or encumbered 33.9% of their holding.
Earnings include an other income of Rs.324 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.

Peer comparison

Consumer Discretionary Realty Realty Residential, Commercial Projects

Part of BSE SmallCap BSE Allcap BSE Consumer Discretionary Nifty Microcap 250 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	152	194	133	108	196	96	101	380	490	246	325	889	681
	188	103	378	463	254	119	134	372	514	247	231	881	692
Operating Profit	-36	91	-245	-355	-58	-23	-33	8	-24	-1	94	8	-11
OPM %	-24%	47%	-185%	-328%	-29%	-24%	-33%	2%	-5%	-0%	29%	1%	-2%
	13	9	15	-14	-616	12	11	22	68	41	4	265	13
Interest	17	6	3	1	1	3	4	150	115	4	106	139	160
Depreciation	3	3	3	3	3	3	3	2	2	3	3	5	7
Profit before tax	-44	90	-236	-373	-677	-16	-28	-122	-73	34	-11	129	-165
Tax %	17%	37%	0%	1%	0%	11%	36%	-26%	-272%	28%	134%	5%	1%
	-52	57	-237	-376	-679	-18	-38	-99	121	24	-27	123	-166
EPS in Rs	-0.96	1.04	-4.38	-6.94	-12.55	-0.34	-0.71	-1.83	1.93	0.38	-0.33	1.06	-1.21
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	1,736	2,641	2,959	2,320	4,503	4,944	3,271	1,521	1,445	587	1,188	2,180	2,141
	1,225	2,030	2,062	1,667	1,197	3,897	2,472	1,341	1,446	942	1,182	1,887	2,051
Operating Profit	511	611	898	653	3,306	1,047	799	180	-1	-356	6	293	90
OPM %	29%	23%	30%	28%	73%	21%	24%	12%	-0%	-61%	1%	13%	4%
	64	95	137	518	229	278	90	140	96	-167	29	210	324
Interest	220	336	501	561	744	464	481	228	110	28	556	461	409
Depreciation	21	20	69	71	97	17	31	17	12	12	7	15	18
Profit before tax	334	351	464	539	2,694	844	378	75	-27	-563	-527	27	-13
Tax %	39%	23%	31%	34%	12%	40%	68%	94%	409%	8%	-8%	-643%
	203	271	321	357	2,360	504	121	5	-137	-608	-517	194	-45
EPS in Rs	5.28	5.84	6.41	8.30	49.99	11.19	2.65	0.09	-3.00	-11.23	-9.18	1.63	-0.10
Dividend Payout %	57%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-2%
5 Years:	-8%
3 Years:	15%
TTM:	101%

Compounded Profit Growth
10 Years:	-8%
5 Years:	-7%
3 Years:	39%
TTM:	78%

Stock Price CAGR
10 Years:	4%
5 Years:	11%
3 Years:	9%
1 Year:	-23%

Return on Equity
10 Years:	8%
5 Years:	-6%
3 Years:	-10%
Last Year:	3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	85	85	92	87	95	90	91	90	91	108	108	244
Reserves	6,789	7,085	3,901	3,956	2,850	2,860	3,467	3,392	3,324	3,122	-1,555	9,077
	2,977	6,544	8,903	9,410	7,648	7,033	2,737	1,223	1,329	693	7,749	4,594
	3,617	3,130	5,226	5,115	9,487	6,209	4,992	4,051	3,007	2,664	3,637	6,572
Total Liabilities	13,469	16,844	18,122	18,568	20,080	16,192	11,287	8,757	7,751	6,587	9,939	20,488
	304	112	112	3,787	952	189	135	86	96	83	3,737	6,089
CWIP	88	127	0	1	0	0	0	0	0	0	0	9
Investments	5,566	5,829	2,989	875	3,859	2,568	132	145	269	157	867	98
	7,510	10,776	15,021	13,904	15,269	13,434	11,020	8,526	7,385	6,347	5,335	14,291
Total Assets	13,469	16,844	18,122	18,568	20,080	16,192	11,287	8,757	7,751	6,587	9,939	20,488

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	578	-2,830	973	639	-891	-1,159	-432	853	-248	-343	-97	1,461
	-1,337	-81	235	-541	155	1,784	1,768	971	280	661	96	507
	529	3,315	-695	-834	2,057	-1,695	-1,890	-1,791	-64	-331	-8	-1,971
Net Cash Flow	-230	403	513	-735	1,321	-1,071	-555	33	-31	-13	-10	-3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	21	22	408	602	1	20	9	72	69	47	72	9
Inventory Days	6,711			10,926		2,377	5,051	2,595
Days Payable	209			432		217	320	126
Cash Conversion Cycle	6,522	22	408	11,096	1	2,180	4,740	2,541	69	47	72	9
Working Capital Days	611	692	836	1,095	-56	219	384	764	789	2,186	-505	935
ROCE %	6%	6%	7%	7%	27%	13%	11%	5%	2%	-7%	1%	3%

Shareholding Pattern

Numbers in percentages

1 Recently

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	43.36%	42.44%
	22.44%	22.74%	21.43%	22.58%	23.59%	23.11%	24.58%	28.90%	30.14%	29.78%	15.93%	28.13%
	4.35%	2.44%	1.37%	0.89%	1.07%	1.78%	0.41%	3.42%	5.02%	5.38%	3.52%	3.66%
	73.10%	74.72%	77.10%	76.41%	75.23%	75.01%	74.89%	67.60%	64.75%	64.73%	37.14%	25.75%
	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.09%	0.09%	0.09%	0.05%	0.04%
No. of Shareholders	3,29,807	3,15,294	3,14,158	3,06,438	3,16,665	3,12,356	3,04,762	3,59,479	3,14,999	2,95,333	2,73,968	2,70,360

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	50.35%	36.93%	38.90%	23.38%	11.99%	0.03%	0.00%	0.00%	43.36%	42.44%
	18.08%	24.81%	28.50%	21.09%	15.90%	18.39%	21.43%	24.58%	15.93%	28.13%
	2.72%	0.45%	0.32%	0.32%	1.80%	4.86%	1.37%	0.41%	3.52%	3.66%
	28.86%	37.81%	32.28%	55.21%	69.63%	76.03%	77.10%	74.89%	37.14%	25.75%
	0.00%	0.00%	0.00%	0.00%	0.69%	0.69%	0.11%	0.11%	0.05%	0.04%
No. of Shareholders	87,596	96,053	1,17,373	1,05,628	1,53,856	3,10,512	3,14,158	3,04,762	2,73,968	2,70,360

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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