Embassy Developments reported a significant surge in operational performance for the quarter ended June 30, 2026 (Q1 FY27), driven by robust pre-sales and improved collections. The company achieved pre-sales of INR 868 crore, marking a 338% year-on-year growth compared to INR 198 crore in Q1 FY26. This performance underscores healthy absorption in its projects, particularly in Bengaluru.

Collections for the quarter stood at INR 496 crore, an increase of 54% from INR 322 crore collected in the corresponding period of the previous fiscal year. The company’s net institutional debt was INR 3,363 crore as of June 30, 2026, after adjusting for cash and cash equivalents of INR 1,202 crore.

Operational Highlights

The strong pre-sales figures were supported by continued demand in Bengaluru, where approximately 72% of launched inventory was sold within six months of launch. Cumulatively, of the 4.3 million sq.ft. launched during FY26, about 2.5 million sq.ft., or 59%, has been sold as of June 30, 2026.

Performance Summary

The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Embassy Developments has received board committee approval to raise its private placement non-convertible debenture (NCD) issuance cap from ₹400 crore to ₹1,570 crore, an increase of ₹1,170 crore. The committee met on July 6, 2026, to sanction the additional fundraise, which will be conducted on a private placement basis in one or more tranches. The proceeds are earmarked for refinancing existing indebtedness, project construction, working capital requirements, and other general corporate purposes. The company, formerly known as Equinox India Developments Limited, made the disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The NCDs approved are senior, secured, redeemable, unrated, and unlisted instruments with a face value of ₹1,00,000 each. The actual allotment will be based on the company's requirements, and the securities are not proposed to be listed on any stock exchange. Key terms such as tenure and coupon rate are yet to be finalized and will be decided by the committee at the time of issuance. The approval serves as an enabling authorization, with the company committing to make requisite disclosures regarding the specific amount, purpose, and material terms upon issuance.

Key Details of the NCD Issuance

The specific terms of the debt securities as outlined in the regulatory filing are as follows: