Embassy Developments Limited has announced its audited financial results for the quarter and financial year ended March 31, 2026. The board of directors approved the standalone and consolidated financial results at a meeting held on May 20, 2026. The company reported a consolidated net loss of ₹8,724.75 million for the financial year ended March 31, 2026, a significant decline from the net profit of ₹1,936.33 million recorded in the previous year ended March 31, 2025.

Consolidated Financial Performance

For the financial year ended March 31, 2026, the company reported revenue from operations of ₹17,318.32 million, a decrease from ₹21,795.04 million in the previous year. Total income for the year stood at ₹19,051.21 million. Total expenses increased to ₹28,026.04 million from ₹24,916.54 million in the prior year. The basic earnings per share (EPS) for the year was reported at a loss of ₹6.43, compared to a profit of ₹2.76 in the previous year.

In the quarter ended March 31, 2026, the company reported a net loss of ₹3,234.32 million, compared to a net profit of ₹1,229.83 million in the corresponding quarter of the previous year. Revenue from operations for the quarter was ₹3,424.63 million, compared to ₹8.9 billion in the same quarter of the previous year.

Standalone Financial Performance

On a standalone basis, the company reported a net loss of ₹2,830.66 million for the year ended March 31, 2026, compared to a net profit of ₹2,641.78 million in the previous year. Total income for the standalone entity was ₹5,263.66 million, down from ₹21,967.86 million in the prior year. The standalone basic EPS for the year was a loss of ₹2.08, compared to a profit of ₹3.66 in the previous year.

Key Developments

The board approved the appointment of Mr. Chirag Boonlia as Chief Technology Officer, a senior management personnel of the company, effective from May 20, 2026. Additionally, the company received share warrant subscription money aggregating to ₹14,058.25 million during the year, pursuant to which equity shares were allotted upon conversion of the warrants. The company also completed the acquisition of 100% shareholding in Squadron Developers Limited during the year.

The trading window for dealing in securities of the company will remain closed until May 24, 2026. The statutory auditors, M/s Agarwal Prakash & Co., issued an audit report with an unmodified opinion on the audited financial results.

Legal Resolutions and Operational Highlights

The Hon’ble National Company Law Appellate Tribunal (NCLAT) by its order dated May 4, 2026, allowed the appeal filed against the order of the NCLT, Delhi Bench. The NCLAT set aside the admission order dated December 9, 2025, and consequently, the insolvency proceedings initiated against the company stand set aside. The tribunal held that no deed of guarantee as alleged had been issued.

In another legal development, the writ petition filed by Embassy Developments Limited challenging the resumption order by KIADB was allowed. The impugned resumption order was set aside after the company filed an undertaking affidavit to abide by the terms of the lease-cum-sale agreement.

Operationally, the company reported pre-sales of INR 4,631 Cr for FY26, an increase of 128% year-on-year. Area sold for FY26 stood at 3,581k sf, up 62% year-on-year. The company launched projects with a GDV of INR 16.3k Cr across six launches during the year. For FY27, the company targets pre-sales of INR 6k Cr and new launch GDV of INR 19.4k Cr.

Embassy Developments Limited has approved the grant of 2,72,935 Stock Options (SOs) and 1,65,887 Performance Stock Units (PSUs) to eligible employees under its Employee Stock Option Scheme 2025. The Nomination and Remuneration Committee of embassy developments approved the grants at its meeting held on May 20, 2026.

Grant Details

The grants have been made in accordance with the Embassy Developments Limited Employee Stock Option Scheme – 2025 (Embassy ESOS 2025). The scheme is compliant with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and has received necessary in-principle approvals from the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE).

Pricing and Vesting

The SOs are priced at INR 111.51 per option, while the PSUs are priced at INR 2 per unit, which represents the face value of the equity shares. Each SO is convertible into one equity share of face value INR 2. The PSUs are convertible into a number of equity shares determined based on the achievement of performance parameters.

The vested SOs and PSUs can be exercised within a period of five years from the respective vesting date or seven years from the respective Grant Date, whichever is earlier. The SOs have a vesting period of four years, vesting uniformly at a rate of 25% at the end of each year from the grant date. The PSUs will vest subject to the achievement of prescribed performance milestones.