Embassy Developments Ltd
₹ 66.2
3.81%
10 Jul
- 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 ₹ 9,212 Cr.
- Current Price ₹ 66.2
- High / Low ₹ 122 / 39.4
- Stock P/E
- Book Value ₹ 71.0
- Dividend Yield 0.00 %
- ROCE -2.38 %
- ROE -9.10 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 0.93 times its book value
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -6.55% over last 3 years.
- Promoters have pledged 68.2% 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,641 | 2,959 | 2,320 | 4,503 | 4,944 | 3,271 | 1,521 | 1,445 | 587 | 414 | 2,180 | 1,732 | |
| 2,030 | 2,062 | 1,667 | 1,197 | 3,897 | 2,472 | 1,341 | 1,446 | 942 | 839 | 1,887 | 2,205 | |
| Operating Profit | 611 | 898 | 653 | 3,306 | 1,047 | 799 | 180 | -1 | -356 | -425 | 293 | -474 |
| OPM % | 23% | 30% | 28% | 73% | 21% | 24% | 12% | -0% | -61% | -103% | 13% | -27% |
| 95 | 137 | 518 | 229 | 278 | 90 | 140 | 96 | -167 | -577 | 210 | 173 | |
| Interest | 336 | 501 | 561 | 744 | 464 | 481 | 228 | 110 | 28 | 9 | 461 | 549 |
| Depreciation | 20 | 69 | 71 | 97 | 17 | 31 | 17 | 12 | 12 | 11 | 15 | 48 |
| Profit before tax | 351 | 464 | 539 | 2,694 | 844 | 378 | 75 | -27 | -563 | -1,023 | 27 | -897 |
| 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 | |
| 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 |
| 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: | -21% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -977% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | -13% |
| 3 Years: | 2% |
| 1 Year: | -44% |
| Return on Equity | |
|---|---|
| 10 Years: | 4% |
| 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 | 4,594 | 5,322 | |
| 3,130 | 5,226 | 5,115 | 9,487 | 6,209 | 4,992 | 4,051 | 3,007 | 2,664 | 2,855 | 6,572 | 6,348 | |
| Total Liabilities | 16,844 | 18,122 | 18,568 | 20,080 | 16,192 | 11,287 | 8,757 | 7,751 | 6,587 | 5,915 | 20,488 | 21,538 |
| 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 | 14,291 | 15,185 | |
| Total Assets | 16,844 | 18,122 | 18,568 | 20,080 | 16,192 | 11,287 | 8,757 | 7,751 | 6,587 | 5,915 | 20,488 | 21,538 |
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 | -79 | |
| 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 | 595 |
| Free Cash Flow | -2,882 | 934 | 607 | -1,100 | -1,196 | -440 | 854 | -248 | -343 | -100 | 1,407 | 44 |
| CFO/OP | -429% | 125% | 138% | -20% | -107% | -40% | 444% | 25,878% | 121% | 21% | 512% | -9% |
Ratios
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 22 | 408 | 602 | 1 | 20 | 9 | 72 | 69 | 47 | 56 | 9 | 5 |
| Inventory Days | 10,926 | 2,377 | 5,051 | 2,595 | 2,824 | |||||||
| Days Payable | 432 | 217 | 320 | 126 | 212 | |||||||
| Cash Conversion Cycle | 22 | 408 | 11,096 | 1 | 2,180 | 4,740 | 2,541 | 69 | 47 | 56 | 9 | 2,617 |
| Working Capital Days | 692 | 836 | 1,095 | -56 | 219 | 384 | 764 | 789 | 2,186 | 2,407 | 935 | 1,526 |
| ROCE % | 6% | 7% | 7% | 27% | 13% | 11% | 5% | 2% | -7% | -11% | 4% | -2% |
Insights
In beta| Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Land Bank Acres |
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| Collections INR Cr |
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| Pre-Sales INR Cr |
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| Area Sold (New Bookings) '000 sf |
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| Construction Spend INR Cr |
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Documents
Announcements
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Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure
Requirements) Regulations, 2015.
7 Jul - Q1 FY27 pre-sales rose to INR 868 crore; collections were INR 496 crore; net debt was INR 3,363 crore.
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Board Meeting Outcome for Outcome Of The Meeting Of Board'S Constituted Committee Of Embassy Developments Limited.
7 Jul - Board committee approved NCD fundraising up to ₹1,570 crore, raising issue size from ₹400 crore.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6 Jul - For more details, please refer attachment.
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Board Meeting Intimation for Consideration And Approval Of The Raising Of Funds By Way Of Issuance Of Non-Convertible Debentures.
1 Jul - Committee meets July 6, 2026 to consider NCD issuance and modify existing unlisted NCD terms.
- Closure of Trading Window 26 Jun
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
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Financial Year 2015
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Financial Year 2014
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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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May 2026TranscriptPPT
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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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May 2021TranscriptPPTREC
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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.