Embassy Developments Ltd
₹ 61.4
-1.16%
30 Jul
4:01 p.m.
About
Incorporated in 2006, Embassy Developments Ltd is a real estate developer of residential, commercial, and SEZ projects.[1]
Key Points
- Market Cap ₹ 8,533 Cr.
- Current Price ₹ 61.4
- High / Low ₹ 107 / 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 0.87 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 64.9% 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% | -0.1% | -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: | -4% |
| 5 Years: | -16% |
| 3 Years: | -4% |
| 1 Year: | -41% |
| 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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Documents
Announcements
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Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
16 Jul - Catalyst Trusteeship released pledge on 30 million Embassy Developments shares on 04-06-2026 and 14-07-2026.
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Announcement under Regulation 30 (LODR)-Allotment
15 Jul - Allotted NCDs worth INR 1,020 crore on July 15, 2026; proceeds mainly refinance debt.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
15 Jul - The certificate under Regulation 74(5) of the SEBI DP Regulations for the quarter ended June 30, 2026 as issued by KFIN Technologies Limited, Registrar and …
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Release Of Pledge On Equity Shares Held By Promoter Group - Disclosure Pursuant To Regulation 7(2)(B) Of The SEBI (Prohibition Of Insider Trading) Regulations, 2015
15 Jul - Promoter group released pledge on 1 crore shares, following 2 crore shares released on June 9, 2026.
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Release Of Pledge On Equity Shares Held By Promoter Group - Disclosure Pursuant To Regulation 7(2)(B) Of The SEBI (Prohibition Of Insider Trading) Regulations, 2015
15 Jul - Promoter group released pledge on 1 crore shares, following earlier 2 crore release on June 9, 2026.
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
from nse
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Financial Year 2013
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Financial Year 2012
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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.