Embassy Developments Ltd
₹ 51.7
0.23%
22 Oct
- 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 ₹ 7,202 Cr.
- Current Price ₹ 51.7
- High / Low ₹ 96.7 / 39.4
- Stock P/E
- Book Value ₹ 71.0
- Dividend Yield 0.00 %
- ROCE -2.44 %
- ROE -9.19 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 0.73 times its book value
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -7.22% over last 3 years.
- Promoters have pledged 57.5% of their holding.
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,641 | 2,959 | 2,320 | 4,503 | 4,944 | 3,271 | 1,521 | 1,445 | 587 | 414 | 2,180 | 1,732 | 1,265 | |
| 2,030 | 2,062 | 1,667 | 1,197 | 3,897 | 2,472 | 1,341 | 1,446 | 942 | 839 | 1,887 | 2,205 | 1,861 | |
| Operating Profit | 611 | 898 | 653 | 3,306 | 1,047 | 799 | 180 | -1 | -356 | -425 | 293 | -473 | -596 |
| OPM % | 23% | 30% | 28% | 73% | 21% | 24% | 12% | -0.1% | -61% | -103% | 13% | -27% | -47% |
| 95 | 137 | 518 | 229 | 278 | 90 | 140 | 96 | -167 | -577 | 210 | 173 | 185 | |
| Interest | 336 | 501 | 561 | 744 | 464 | 481 | 228 | 110 | 28 | 9 | 461 | 550 | 507 |
| Depreciation | 20 | 69 | 71 | 97 | 17 | 31 | 17 | 12 | 12 | 11 | 15 | 48 | 54 |
| Profit before tax | 351 | 464 | 539 | 2,694 | 844 | 378 | 75 | -27 | -563 | -1,023 | 27 | -897 | -973 |
| Tax % | 23% | 31% | 34% | 12% | 40% | 68% | 94% | 409% | 8% | 2% | -643% | -3% | |
| 271 | 321 | 357 | 2,360 | 504 | 121 | 5 | -137 | -608 | -1,038 | 194 | -872 | -944 | |
| EPS in Rs | 5.84 | 6.41 | 8.30 | 49.99 | 11.19 | 2.65 | 0.09 | -3.00 | -11.23 | -19.17 | 1.63 | -6.28 | -6.79 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -5% |
| 5 Years: | 3% |
| 3 Years: | 43% |
| TTM: | -47% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -1334% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -5% |
| 5 Years: | -20% |
| 3 Years: | -11% |
| 1 Year: | -45% |
| Return on Equity | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | -7% |
| 3 Years: | -7% |
| Last Year: | -9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 87 | 95 | 90 | 91 | 90 | 91 | 108 | 108 | 244 | 278 |
| Reserves | 7,085 | 3,901 | 3,956 | 2,850 | 2,860 | 3,467 | 3,392 | 3,324 | 3,122 | 2,220 | 9,077 | 9,590 |
| 6,544 | 8,903 | 9,410 | 7,648 | 7,033 | 2,737 | 1,223 | 1,329 | 693 | 732 | 4,607 | 5,322 | |
| 3,130 | 5,226 | 5,115 | 9,487 | 6,209 | 4,992 | 4,051 | 3,007 | 2,664 | 2,855 | 6,552 | 6,338 | |
| Total Liabilities | 16,844 | 18,122 | 18,568 | 20,080 | 16,192 | 11,287 | 8,757 | 7,751 | 6,587 | 5,915 | 20,481 | 21,528 |
| 112 | 112 | 3,787 | 952 | 189 | 135 | 86 | 96 | 83 | 72 | 6,089 | 6,188 | |
| CWIP | 127 | 0 | 1 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 9 | 1 |
| Investments | 5,829 | 2,989 | 875 | 3,859 | 2,568 | 132 | 145 | 269 | 157 | 158 | 98 | 165 |
| 10,776 | 15,021 | 13,904 | 15,269 | 13,434 | 11,020 | 8,526 | 7,385 | 6,347 | 5,685 | 14,284 | 15,175 | |
| Total Assets | 16,844 | 18,122 | 18,568 | 20,080 | 16,192 | 11,287 | 8,757 | 7,751 | 6,587 | 5,915 | 20,481 | 21,528 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -2,830 | 973 | 639 | -891 | -1,159 | -432 | 853 | -248 | -343 | -97 | 1,461 | 44 | |
| -81 | 235 | -541 | 155 | 1,784 | 1,768 | 971 | 280 | 661 | 96 | 574 | -74 | |
| 3,315 | -695 | -834 | 2,057 | -1,695 | -1,890 | -1,791 | -64 | -331 | -8 | -1,971 | 629 | |
| Net Cash Flow | 403 | 513 | -735 | 1,321 | -1,071 | -555 | 33 | -31 | -13 | -10 | 64 | 600 |
| Free Cash Flow | -2,882 | 934 | 607 | -1,100 | -1,196 | -440 | 854 | -248 | -343 | -100 | 1,407 | 1 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -429% | 125% | 138% | -20% | -107% | -40% | 444% | 25,878% | 121% | 21% | 513% | -8% |
Ratios
Consolidated / View Standalone
| 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 | 22 | 408 | 602 | 1 | 20 | 9 | 72 | 69 | 47 | 56 | 9 | 5 |
| Inventory Days | 10,926 | 2,377 | 5,051 | 2,595 | ||||||||
| Days Payable | 432 | 217 | 320 | 126 | ||||||||
| Cash Conversion Cycle | 22 | 408 | 11,096 | 1 | 2,180 | 4,740 | 2,541 | 69 | 47 | 56 | 9 | 5 |
| Working Capital Days | 692 | 836 | 1,095 | -56 | 219 | 384 | 764 | 789 | 2,186 | 2,407 | 937 | 1,501 |
| ROCE % | 6% | 7% | 7% | 27% | 13% | 11% | 5% | 2% | -7% | -11% | 4% | -2% |
Insights
In beta| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Land Bank Acres |
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| Pre-Sales INR Cr |
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| Area Sold (New Bookings) '000 sf |
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Documents
Announcements
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Revised Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
- Revised SAST disclosure: Bellanza converted 1.35 crore warrants; EPDPL got 3.25 crore warrants; JV bought 3.49 lakh shares.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended September 30, 2026.
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Announcement under Regulation 30 (LODR)-Allotment
- Allotted 3.25 crore convertible warrants to promoter group on October 12, 2026, raising ₹90.65 crore upfront.
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Announcement under Regulation 30 (LODR)-Credit Rating
- Infomerics upgraded EMBDL to IVR A/Stable, raised bank loan facilities to ₹350 crore, and rated ₹160 crore NCDs.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
from bse
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Annual Report 2013
from nse
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Annual Report 2013
from bse
Concalls
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT
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May 2026Transcript
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Feb 2026Transcript PPT REC
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Nov 2025PPT
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Aug 2025PPT
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Jun 2025PPT
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May 2025PPT
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Feb 2025PPT
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Oct 2024PPT
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Jun 2024PPT
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Apr 2024PPT
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Oct 2023PPT
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Aug 2023PPT
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Aug 2023PPT
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Feb 2023PPT
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Jun 2022Transcript
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Feb 2022PPT
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Jan 2022PPT
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May 2021REC
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Nov 2017PPT
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Sep 2017PPT
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.