Embassy Developments

Sachin Shah resigned as chief executive officer and executive director of Embassy Developments with effect from 31 December 2026 and remained as senior adviser to the chairman and the managing director from 1 January 2027. Aditya Virwani, the company's managing director, was redesignated as managing director and chief executive from 1 January 2027 for the remainder of his term to 24 February 2030. The company entered the 2026-27 financial year with a pipeline of 11 projects across Bengaluru, Mumbai and the National Capital Region and guided total presales of Rs 8,000 crore with collections of Rs 3,000 crore. First-half presales were about Rs 4,093 crore, including about Rs 3,225 crore in the second quarter, while first-half collections were about Rs 1,041 crore. Net institutional principal outstanding was about Rs 3,732 crore after cash of about Rs 1,258 crore as of 30 September 2026. Consolidated operating revenue was about Rs 1,732 crore in the year to March 2026.

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Oct 9 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS - SACHIN SHAH RESIGNS AS CEO & EXECUTIVE DIRECTOR EFFECTIVE DECEMBER 31, 2026

• EMBASSY DEVELOPMENTS - ADITYA VIRWANI RE-DESIGNATED AS MANAGING DIRECTOR & CEO EFFECTIVE JANUARY 1, 2027

Source text: ID:nBSE2qPgvk

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Embassy Developments recorded over ₹1,800 crore in pre-sales at Embassy Origins, its 85-acre residential development north of Yelahanka in North Bengaluru. Within a week of the 16 September launch, the company booked 477 homes covering over 10 lakh sq ft, representing 62% absorption of launched units. Phase 1 comprised two RERA-approved projects, Embassy Riverine with 217 villas across about 1.1 million sq ft and Embassy South Reserve with 855 apartments across about 1.5 million sq ft, with combined gross development value of about ₹4,500 crore. The company had guided for total FY27 pre-sales of ₹8,000 crore, comprising ₹6,000 crore of owned developments and ₹2,000 crore of development management, after reporting pre-sales of ₹868 crore in the June quarter and ₹4,631 crore in FY26. Consolidated operating revenue was about ₹1,732 crore in FY26, with net institutional debt of about ₹3,300 crore.

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Embassy Developments signed a memorandum of understanding to sell an entire G+7 residential tower at Embassy Terazza in Juhu to Angel One founder Dinesh Thakkar for about ₹711 crore. The tower comprised 63,000 sq ft of RERA carpet area and was described as India's largest single residential unit transaction. Terazza was an ultra-luxury low-density development on Juhu Tara Road with about 50 residences and gross development value in excess of ₹3,000 crore, being developed under a development management model. The signing followed the mid-September launch of Embassy Origins Phase 1 in North Bengaluru with about ₹4,500 crore of gross development value after a first quarter with no launches. Embassy had guided to ₹8,000 crore of total presales in FY27, comprising ₹6,000 crore of owned developments and ₹2,000 crore of development management projects, after reporting first-quarter presales of ₹868 crore and collections of ₹496 crore.

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Sept 22 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS - SIGNS MOU TO SELL RESIDENTIAL TOWER FOR 7.11 BILLION RUPEES

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Sept 16 (Reuters) - Embassy Developments Ltd EMBS.NS:

• TO CONSIDER FUND RAISING VIA ISSUANCE OF NON-CONVERTIBLE DEBENTURES

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Embassy Developments unveiled Embassy Origins, an approximately 85-acre residential development north of Yelahanka in North Bengaluru. Its first phase comprised Embassy Riverine with 217 villas across about 1.1 million sq ft and Embassy South Reserve with 855 apartments across about 1.5 million sq ft, carrying a combined gross development value of about ₹24,500 crore. Both projects had received RERA approvals. The company reported operating revenue of about ₹1,732 crore for the year to March and pre-sales of ₹868 crore with collections of ₹496 crore in the June quarter. Its launch pipeline for the year spanned 11 projects covering about 10.5 million sq ft with gross development value of about ₹19,400 crore, while net institutional debt stood at about ₹3,300 crore.

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Sept 15 (Reuters) - Embassy Developments Ltd EMBS.NS:

• LAUNCHES EMBASSY ORIGINS, 85-ACRE RESIDENTIAL PROJECT IN NORTH BENGALURU

• FIRST PHASE INCLUDES EMBASSY RIVERINE, EMBASSY SOUTH RESERVE WITH GDV OF 45 BILLION RUPEES

Source text: ID:nBSEbvW7bj

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Embassy Developments had 5.354 crore equity shares pledged in favour of Catalyst Trusteeship, acting as debenture trustee, on September 8, 2026. The trustee’s encumbered holding rose from 6.3095 crore shares, or 4.537% of voting capital, to 11.6635 crore shares, or 8.387%. The company’s FY26 operating revenue was about ₹1,732 crore, while net institutional debt stood at roughly ₹3,300 crore. Its portfolio comprised owned and development-management residential projects, with a focus on Bengaluru, the Mumbai region and the NCR.

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** Shares of India's Embassy Developments EMBS.NS rise as much as 6.6% to 69.60 rupees, highest since May 19

** EMBS last up 1.5%

** Co on Monday reported net loss of 2.34 billion rupees ($24.53 million) for quarter ended June 30, vs 3.24 bln rupees for quarter ended March 31

** Co had reported net loss of 1.66 bln rupees in the same quarter last year

** Total expenses narrowed y/y to 4.79 bln rupees from 8.59 bln rupees

** More than 5.1 mln shares traded by 10:40 am, more than 2x the 30-day avg

** Stock up 12.46% YTD

($1 = 95.3875 Indian rupees)

(Reporting by Abhirami G in Bengaluru)

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Embassy Developments reported consolidated revenue from operations of ₹216.75 crore and a loss attributable to equity holders of ₹234.29 crore in the quarter ended June 30, 2026, versus revenue of ₹680.92 crore and a loss of ₹165.85 crore a year earlier. Its board approved a preferential issue of 3.25 crore unlisted convertible warrants to Embassy Property Developments Private Limited, a promoter-group entity, for ₹362.62 crore in cash. The warrants were priced at ₹111.51 each, with proceeds earmarked for repayment of shareholder debt and general corporate purposes, and the promoter group committed to convert them within six months of allotment. The group had recorded a consolidated loss attributable to equity holders of ₹872.65 crore in FY26, while management's FY27 targets included ₹6,000 crore of presales and ₹3,000 crore of collections.

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Aug 10 (Reuters) - Embassy Developments Ltd EMBS.NS:

• JUNE-QUARTER CONSOL NET LOSS 2.34 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2.17 BILLION RUPEES

• FUND-RAISE VIA ISSUANCE OF WARRANTS AGGREGATING UP TO 3.63 BILLION RUPEES

Further company coverage: EMBS.NS

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** Shares of India's Embassy Developments EMBS.NS rise 5.1% to 65 rupees

** The real estate development and construction company's first-quarter pre-sales up more than fourfold to 8.68 billion rupees ($91.22 million)

** Company says first-quarter collections up about 54% YoY to 4.96 billion rupees

** Stock up 10.5%, YTD

($1 = 95.1500 Indian rupees)

(Reporting by Payel Das in Bengaluru)

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Embassy Developments' board-constituted committee approved a sharp increase in the company's non-convertible debenture issuance limit on July 6, raising the ceiling from ₹400 crore to ₹1,570 crore. The additional funds would be raised through senior, secured, redeemable, unrated, and unlisted debentures on a private placement basis. The company described the approval as an enabling authorization and said actual issuances would depend on requirements including refinancing existing debt, project construction, working capital, and general corporate purposes. The earlier ₹400 crore NCD programme was approved in January 2026.

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** Shares of Embassy Developments EMBS.NS up 3.8% at 64.04 rupees

** If gains hold, stock set to post a third consecutive weekly gain

** The real estate developer signs a memorandum of understanding (MoU) with the Uttar Pradesh government for about 15 billion rupees ($158.77 million)

** MoU under Invest UP framework for a proposed large-scale commercial development in Lucknow

** Volumes at 8 million shares, about 2.6 times the 30-day avg

** YTD, stock up 8.81%

($1 = 94.4750 Indian rupees)

(Reporting by Saikeerthi in Bengaluru)

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Embassy Developments has signed a non-binding memorandum of understanding with the Uttar Pradesh government to explore a ₹1,500 crore commercial real estate project in Lucknow. The indicative plan envisages 2.5 to 3.0 million square feet of premium office-led development under the state's Invest UP framework. The MoU was signed in Bengaluru in the presence of Chief Minister Yogi Adityanath and other senior state officials, marking Embassy's first formal step toward entering Uttar Pradesh's commercial market. Chairman Jitendra Virwani highlighted the state's infrastructure momentum and potential to become a new hub for office-led growth.

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June 24 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS - SIGNS MOU WITH GOVERNMENT OF UTTAR PRADESH FOR LUCKNOW PROJECT

• EMBASSY DEVELOPMENTS - PROPOSED DEVELOPMENT TO COVER 2.5-3.0 MILLION SQ FT WITH 15 BILLION RUPEES INVESTMENT

Source text: ID:nBSE66B6GK

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** Shares of India's Embassy Developments EMBS.NS fall 3.25% to 64.31 rupees; set to snap three sessions of gains

** Co says Karnataka High Court set aside an earlier ruling that had favoured co in a dispute over 78 acres of land held by its subsidiary in Bengaluru city

** Court says dispute will now be reconsidered, with all issues remaining open for review

** Co notes no final decision has been made on the validity of govt's move to take back the land and it will pursue legal remedies

** YTD stock down 9.3%

(Reporting by Surbhi Misra in Bengaluru)

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Embassy Developments has awarded an ₹850 crore construction contract to Leighton Asia, part of the CIMIC Group, for the civil and structural works at Embassy Citadel, its ultra-luxury residential tower in Worli, Mumbai. The project spans approximately 1.6 million square feet with an estimated gross development value of ₹8,800 crore and will rise 300 metres as a single-tower development comprising 316 residences. The contract marks a key step in advancing the company's entry into Mumbai's luxury residential market. Embassy Developments had previously included Embassy Citadel in its launch pipeline of 11 projects with a combined GDV of ₹19,400 crore. Leighton Asia brings experience from large-scale residential projects in India and other global markets.

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June 15 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS - AWARDS 8.50 BILLION RUPEES CONTRACT TO LEIGHTON ASIA FOR EMBASSY CITADEL

Source text: ID:nBSE4dpjBZ

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May 20 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS MARCH-QUARTER CONSOL NET LOSS 3.24 BILLION RUPEES

Source text: ID:nBSE7KzqbL

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April 9 (Reuters) - Embassy Developments Ltd EMBS.NS:

• Q4 FY26 PRE-SALES AT 26.32 BILLION RUPEES, UP 89% QOQ

Source text: ID:nBSE9fvSkJ

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March 11 (Reuters) - Embassy Developments Ltd EMBS.NS:

• SELLS OVER 500 UNITS OF EMBASSY VERDE PHASE II AT EMBASSY SPRINGS

• VERDE PHASE II ACHIEVES SALES OF ABOUT 4.95 BILLION RUPEES IN 4 DAYS

Source text: ID:nBSE2GkwCq

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** Shares of Embassy Developments Ltd EMBS.NS rise as much as 3.6% to 65.5 rupees
** Co gets approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for Phase I of its residential project in Alibaug
** Adds, overall project has estimated gross development value of 4 bln rupees ($44.1 mln)
** EMBS last up 0.8%, adding to YTD gains of 7.5%

($1 = 90.7600 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 16 (Reuters) - Embassy Developments Ltd EMBS.NS:

• RECEIVES RERA APPROVAL FOR ITS FIRST PROJECT IN ALIBAUG

• PROJECT GDV ESTIMATED AT 4 BILLION RUPEES

Source text: ID:nNSE4JxZp7

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** Shares of Embassy Developments EMBS.NS slip 3.6% to 64.98 rupees

** Co posts Q3 consol net loss of 2.33 billion rupees vs loss of 211.8 million rupees a year earlier

** Revenue falls about 35% y/y

** YTD, stock up 10%

(Reporting by Brijesh Patel in Bengaluru)

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Feb 9 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS DEC-QUARTER CONSOL LOSS 2.33 BILLION RUPEES

• EMBASSY DEVELOPMENTS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.12 BILLION RUPEES

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Jan 29 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS LTD- APPROVED RAISING OF 4 BILLION RUPEES VIA NCD

Source text: ID:nNSE6WJJ3G

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Jan 26 (Reuters) - Embassy Developments Ltd EMBS.NS:

• TO CONSIDER FUND RAISING VIA NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSE19CgVW

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Jan 23 (Reuters) - Embassy Developments Ltd EMBS.NS:

• EMBASSY DEVELOPMENTS LTD - COMPANY REMAINS FULLY OPERATIONAL AND FINANCIALLY SOUND

Source text: ID:nBSE7L3x4y

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