Embassy Developments has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026, to the Bombay Stock Exchange and National Stock Exchange of India. The filing, issued pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the company’s standalone performance across environmental, social, and governance parameters.

The report covers operations across residential, commercial, and Special Economic Zone developments, with 92% of turnover derived from real estate and construction activities. The company reported a turnover of ₹4,12.19 crore and a net worth of ₹1,130.04 crore as on March 31, 2026. These figures formed the basis for calculating CSR obligations, which amounted to ₹0.41 million for the year.

Environmental Metrics

Total energy consumption increased to 1,32,83,707.58 MJ in FY26, up from 1,04,87,203.75 MJ in FY25. This rise was driven by higher electricity consumption from renewable sources, which grew to 75,50,242.13 MJ from 42,84,000.00 MJ in the prior year. Non-renewable energy consumption fell to 57,33,465.45 MJ from 62,03,203.75 MJ.

Greenhouse gas emissions saw divergent trends between scopes. Scope 1 emissions rose sharply to 180.52 metric tonnes of CO2 equivalent from 97.82 metric tonnes in FY25, attributed to higher diesel consumption at specific projects. Conversely, Scope 2 emissions declined significantly to 633.22 metric tonnes from 970.11 metric tonnes, reflecting reduced indirect emissions.

Water withdrawal totaled 86,155.60 kilolitres, an increase from 69,444.25 kilolitres in FY25. Total water consumption stood at 17,069.04 kilolitres, slightly down from 17,396.67 kilolitres. The company highlighted its 550 KLD Sewage Treatment Plant at the Bangalore EONE project, which facilitates water reuse for non-potable applications.

Social and Governance Disclosures

The company employed 296 permanent employees and 13 non-permanent employees as on March 31, 2026. Female representation among permanent staff was 35.47%. The turnover rate for permanent employees fell to 18.55% in FY26, compared to 28.77% in FY25.

Safety metrics remained strong, with zero lost-time injuries, fatalities, or high-consequence work-related injuries reported for both employees and workers. The company spent 3.12% of its total revenue on employee well-being measures, maintaining the same percentage as the previous year.

What the Numbers Show

A notable divergence exists between direct and indirect carbon footprints. While Scope 1 emissions nearly doubled due to operational fuel usage, Scope 2 emissions dropped by over 34%. This suggests that while on-site construction activities increased direct emissions, efficiency gains or changes in grid mix may have reduced indirect electricity-related emissions. Additionally, the sharp rise in renewable energy consumption (75.5 million MJ vs 42.8 million MJ) contrasts with the overall increase in total energy use, indicating a strategic shift toward greener power sources despite higher overall demand.

Governance and Compliance

The board comprises eight directors, including one woman director. The company recorded no complaints related to sexual harassment, discrimination, or human rights violations during the year. Customer grievances totaled 20 filed cases, with 51 pending resolution at year-end. The company maintains an anti-corruption policy and reported no instances of bribery or conflict of interest complaints involving directors or key managerial personnel.

Dhir & Dhir Associates provided reasonable assurance on the core BRSR indicators, confirming that the sustainability information is prepared in accordance with SEBI’s reporting criteria.

Embassy Developments Limited (formerly Equinox India Developments Limited) has convened its 20th Annual General Meeting (AGM) for Tuesday, September 8, 2026, at 11:30 AM IST. The meeting will be held through Video Conferencing (VC) / Other Audio-Visual Means (OAVM), without physical presence of members at a common venue, in compliance with the Companies Act, 2013, SEBI LODR Regulations, and applicable MCA and SEBI circulars.

AGM Key Details

AGM Agenda

The AGM comprises six resolutions — two ordinary business items and four special business items:

• Item 1 (Ordinary): Adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with reports of the Board of Directors and Auditors.
• Item 2 (Ordinary): Re-appointment of Mr. Jitendra Virwani (DIN: 00027674), Chairman & Non-Executive Director, who retires by rotation.
• Item 3 (Ordinary): Approval of remuneration of ₹3.00 lakh (plus applicable taxes and reimbursement of out-of-pocket expenses) payable to M/s. Gurvinder Chopra & Co., Cost Accountants (Firm Registration No. 100260), as Cost Auditors for FY 2026-27.
• Item 4 (Special): Approval for revision in remuneration of Mr. Rajesh Kaimal (DIN: 03158687), CFO & Executive Director, with effect from December 1, 2025.
• Item 5 (Ordinary): Appointment of Mr. Neel Virwani as "Chief Business Officer" — a Senior Management Personnel (SMP) — with effect from October 1, 2026.
• Item 6 (Special): Preferential issue of warrants to a promoter group entity.

Preferential Issue of Warrants

The Board has proposed a preferential issue of 3,25,18,900 unlisted warrants, each convertible into one fully paid-up equity share of face value ₹2 each, to Embassy Property Developments Private Limited, a member of the promoter group.

The exercise price of ₹111.51 per warrant represents a premium of approximately 80% over the applicable regulatory floor price of ₹61.45, determined in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The proceeds are proposed to be utilised primarily for repayment and/or prepayment of debt (up to ₹3,50,00,00,000) and general corporate purposes (up to ₹12,61,82,539).

CAREE Ratings Limited has been appointed as the monitoring agency for the issue, given that the issue size exceeds ₹100 crore.

CFO Remuneration Revision

The AGM seeks shareholder approval for a revision in the fixed remuneration of Mr. Rajesh Kaimal, CFO & Executive Director, effective December 1, 2025. The revised gross remuneration stands at ₹44.12 lakh per month, compared to ₹28.71 lakh per month applicable from April to November 2025 (post a 10% annual increment effective April 1, 2025). The total remuneration received during FY 2025-26 was ₹552.99 lakh, within the maximum entitlement of ₹789.17 lakh under the original resolution passed at the EGM held on March 25, 2025.

Appointment of Chief Business Officer

The Board has approved the appointment of Mr. Neel Virwani, aged approximately 27 years and a member of the promoter group, as Chief Business Officer — a Senior Management Personnel — effective October 1, 2026, subject to member approval. His proposed total monthly remuneration, including target Performance Based Variable Pay (PBVP), is ₹45.58 lakh, with an equivalent annualised maximum remuneration of approximately ₹546.96 lakh (₹5.47 crore). Being a promoter group member, Mr. Neel Virwani is not eligible for equity-linked incentive schemes.

FY 2025-26 Performance Highlights

The AGM Notice and Annual Report disclose the following key operational and financial metrics for FY 2025-26:

The consolidated financial statements for FY 2025-26 reflect total income of ₹19,051.21 million and a consolidated loss after tax of ₹8,724.75 million. The standalone total income was ₹5,263.66 million with a standalone loss after tax of ₹2,830.66 million.

Voting and Participation

Members whose names appear in the Register of Members as on Tuesday, September 1, 2026 (the cut-off date) are entitled to vote. Remote e-voting is available from September 5, 2026 (10:00 AM) to September 7, 2026 (5:00 PM) through KFin Technologies Limited's platform at https://evoting.kfintech.com . Members may also cast votes via e-voting during the AGM. The AGM Notice, Annual Report, and related documents are available on the Company's website at www.embassyindia.com and on the websites of BSE Limited and National Stock Exchange of India Limited.