Embassy Developments Ltd
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]
- Market Cap ₹ 9,210 Cr.
- Current Price ₹ 66.2
- High / Low ₹ 157 / 55.7
- Stock P/E
- Book Value ₹ 74.8
- Dividend Yield 0.00 %
- ROCE 3.19 %
- ROE 2.53 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Stock is trading at 0.89 times its book value
- Company is expected to give good quarter
Cons
- Company has low interest coverage ratio.
- 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 47.8% of their holding.
- Earnings include an other income of Rs.326 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | 2,389 | |
| 1,225 | 2,030 | 2,062 | 1,667 | 1,197 | 3,897 | 2,472 | 1,341 | 1,446 | 942 | 1,182 | 1,887 | 2,349 | |
| Operating Profit | 511 | 611 | 898 | 653 | 3,306 | 1,047 | 799 | 180 | -1 | -356 | 6 | 293 | 39 |
| OPM % | 29% | 23% | 30% | 28% | 73% | 21% | 24% | 12% | -0% | -61% | 1% | 13% | 2% |
| 64 | 95 | 137 | 518 | 229 | 278 | 90 | 140 | 96 | -167 | 29 | 210 | 326 | |
| Interest | 220 | 336 | 501 | 561 | 744 | 464 | 481 | 228 | 110 | 28 | 556 | 461 | 541 |
| Depreciation | 21 | 20 | 69 | 71 | 97 | 17 | 31 | 17 | 12 | 12 | 7 | 15 | 23 |
| Profit before tax | 334 | 351 | 464 | 539 | 2,694 | 844 | 378 | 75 | -27 | -563 | -527 | 27 | -199 |
| 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 | -222 | |
| 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 | -1.60 |
| 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: | 65% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -8% |
| 5 Years: | -7% |
| 3 Years: | 39% |
| TTM: | -273% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | -4% |
| 3 Years: | -2% |
| 1 Year: | -55% |
| 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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 85 | 85 | 92 | 87 | 95 | 90 | 91 | 90 | 91 | 108 | 108 | 244 | 274 |
| 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 | 9,984 |
| 2,977 | 6,544 | 8,903 | 9,410 | 7,648 | 7,033 | 2,737 | 1,223 | 1,329 | 693 | 7,749 | 4,594 | 4,714 | |
| 3,617 | 3,130 | 5,226 | 5,115 | 9,487 | 6,209 | 4,992 | 4,051 | 3,007 | 2,664 | 3,637 | 6,572 | 5,885 | |
| 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 | 20,857 |
| 304 | 112 | 112 | 3,787 | 952 | 189 | 135 | 86 | 96 | 83 | 3,737 | 6,089 | 5,929 | |
| CWIP | 88 | 127 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 0 |
| Investments | 5,566 | 5,829 | 2,989 | 875 | 3,859 | 2,568 | 132 | 145 | 269 | 157 | 867 | 98 | 298 |
| 7,510 | 10,776 | 15,021 | 13,904 | 15,269 | 13,434 | 11,020 | 8,526 | 7,385 | 6,347 | 5,335 | 14,291 | 14,630 | |
| 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 | 20,857 |
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment
11h - Allotment of 25,000 secured NCDs aggregating INR 250 crore on Jan 30, 2026; 11% coupon, 42-month tenure.
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Voluntary Strike-Off Of Non-Operational Wholly Owned Subsidiaries Of The Company
1d - Two wholly-owned non-operational subsidiaries (SCL, ADL) struck off effective Jan 27, 2026; dissolved, no consideration received.
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Board Meeting Outcome for Outcome Of The Meeting Of Board''s Constituted Committee Of Embassy Developments Limited.
1d - Private placement of up to 40,000 NCDs totalling INR 400 crore; 11% coupon; 42-month tenure.
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Board Meeting Intimation for Intimation Under Regulation 29 Of SEBI (LODR) Regulations, 2015 ('SEBI LODR Regulations')
26 Jan - Board committee meeting Jan 29, 2026 to consider issuing NCDs in one or more tranches.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 24 Jan
Annual reports
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Financial Year 2025
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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
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Financial Year 2013
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Financial Year 2012
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Concalls
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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
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]