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.

Embassy Developments Limited has made the audio recording of its earnings conference call available to investors, covering operational and financial performance for the quarter ended June 30, 2026. The disclosure was filed with the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on August 11, 2026, ensuring transparency regarding the company’s Q1FY27 results. This move allows stakeholders to review management’s commentary on recent financial outcomes directly.

The conference call was conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed entities to record earnings calls and make them accessible to the public via their websites. Embassy Developments had previously intimated the schedule for this call on August 6, 2026, confirming that the session would take place at the designated time.

Vikas Khandelwal, Company Secretary at Embassy Developments, signed the communication formally notifying the exchanges. The filing serves as a procedural update rather than a release of new financial data, directing market participants to the company’s official website for the audio file. The recording provides insights into the drivers behind the quarter’s performance, which is critical for analysts tracking the real estate sector’s trends.

Filing Details

The availability of the recording underscores the company’s adherence to regulatory standards set by the Securities and Exchange Board of India (SEBI). Investors are advised to access the link provided in the original filing to listen to the detailed discussion. The company, formerly known as Equinox India Developments Limited, continues to maintain open communication channels with its investor base through such mandatory disclosures.