Embassy Developments Reports 102% Jump in Quarterly Pre-Sales to ₹409 Crore

Embassy Developments Limited (EDL) has reported a significant surge in its pre-sales for the quarter ended September 30, showcasing robust growth in its real estate operations.

Key Highlights

Pre-sales for Q2 reached ₹409.00 crore, marking a 102% increase from ₹198.00 crore in the previous quarter.
Area sold during the quarter stood at 407,000 square feet, up 96% quarter-on-quarter.
Half-year pre-sales totaled ₹607.00 crore, representing a 24% year-on-year growth.
The company launched Embassy Paradiso in Bengaluru, achieving 90% sales at launch with pre-sales of ₹183.00 crore.

Financial Performance

Particulars	Q2	Q1	QoQ Change
Pre-sales (₹ Crore)	409.00	198.00	+102%
Area Sold ('000 sq ft)	407.00	206.00	+96%
Collections (₹ Crore)	286.00	-	-

Operational Highlights

Embassy Developments completed the delivery of two legacy projects to 1,000 families across MMR and Vizag during the first half. This milestone reinforces the company's commitment to project completion and customer satisfaction.

The company's financial position was strengthened with a sanction of ₹1,370.00 crore in growth capital from Kotak Real Estate Fund, which is expected to support upcoming launches.

Collections for the quarter stood at ₹286.00 crore, with a collection efficiency of 80%, indicating strong cash flow management.

Future Outlook

Embassy Developments has outlined an ambitious pipeline of launches worth ₹28,000.00 crore GDV (Gross Development Value). This includes 10 residential and 3 commercial projects, signaling the company's aggressive growth strategy in the real estate sector.

Financial Position

The company reported a net debt of ₹2,600.00 crore with a conservative debt-to-equity ratio of 0.25x, suggesting a balanced approach to leverage and financial stability.

Aditya Virwani, Managing Director of Embassy Developments, commented on the results, stating, "Our strong performance this quarter reflects the growing demand for quality real estate and our ability to meet market expectations. The successful launch of Embassy Paradiso and our robust pre-sales growth demonstrate the strength of our brand and our project pipeline."

As Embassy Developments continues to capitalize on the recovering real estate market, investors and stakeholders will be watching closely to see if the company can maintain this momentum in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.94%	-2.53%	-11.75%	-21.63%	-31.28%	-44.37%

Embassy Developments Limited (EDL), formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited, has submitted its monitoring agency report for the quarter ended September 30, 2025, regarding the utilization of funds raised through a preferential issue. The report, prepared by CARE Ratings Limited, indicates no deviations from the stated objectives of the ₹3,908.14 crore fund raise.

Fund Utilization Progress

As of September 30, 2025, EDL has utilized ₹3,341.42 crore of the total funds raised, with ₹14.06 crore remaining unutilized. The company has successfully completed several major acquisitions, including:

Embassy Residency
Embassy East Avenue
Embassy Eden
Blu Annex FSI rights

Preferential Issue Details

The preferential issue comprised:

Type of Security	Number Issued	Price per Share (₹)
Equity Shares	9.13 crore	111.51
Convertible Warrants	25.91 crore	111.51

Warrant Conversion Status

During the quarter under review:

53.80 lakh warrants were converted to equity shares
6.61 crore warrants remain pending conversion, worth ₹552.66 crore

Market Observation

The monitoring agency noted that current share prices below the warrant subscription price may impact future conversions of unexercised warrants.

Company's Financial Position

The monitoring agency report also sheds light on EDL's financial position:

Cash and cash equivalents stand at approximately ₹1,000.00 crore
Net debt is reported at about ₹2,600.00 crore
The company maintains a debt-to-equity ratio of 0.37x

Conclusion

The monitoring agency report for Embassy Developments Limited demonstrates the company's adherence to its stated fund utilization plans. With significant progress in acquisitions and a substantial portion of the funds already deployed, EDL appears to be on track with its strategic objectives. However, the note on potential impacts on warrant conversions due to current market prices suggests that investors should keep an eye on the company's share price performance in the coming months.