Investor Update for Quarter Ended June 30, 2026

Operational Performance Highlights

  • Pre-sales for Q1 FY27 stood at approximately ₹868 crore, representing a 338% increase over Q1 FY26 (₹198 crore)
  • Area sold was 484,000 square feet, up 135% YoY from 206,000 square feet in Q1 FY26
  • Collections grew 54% to approximately ₹496 crore compared to ₹322 crore in same period last year
  • Construction spend was ₹276 crore for the quarter, representing 56% of collections
  • Bengaluru led performance with approximately 72% of launched inventory sold within six months
  • Across 4.3 million sq. ft. launched during FY26, nearly 59% has been sold as of June 30, 2026

Project Execution Updates

  • One 09 in Gurugram received its Occupancy Certificate (Phase 1)
  • Five towers at Golfcity, Savroli received their Occupancy Certificate

Financial Position

  • Gross institutional debt stood at approximately ₹4,500 crore as of June 30, 2026
  • Debt to equity ratio: 0.47x
  • Net institutional debt: approximately ₹3,363 crore
  • Net debt to equity: 0.35x
  • Cash and cash equivalents: approximately ₹1,202 crore
  • Total equity: approximately ₹9,700 crore

Capital Structure Initiative

  • Board approved preferential allotment of convertible warrants to Embassy Group at ₹111.51 per share
  • Subject to shareholder approval
  • Proceeds will be used to repay outstanding shareholder debt

FY2027 Guidance and Outlook

  • Pre-sales target: Approximately ₹6,000 crore from owned developments
  • Development management projects target: ₹2,000 crore
  • Collections target: ₹3,000 crore
  • New launch GDV: ₹19.8k crore across 9 owned and 2 DM projects
  • 4 projects out of overall guidance of 11 projects in FY27 slated to launch in Q2

Project Pipeline Details

FY27 new launches include:

  • Embassy One – North Tower (Bengaluru): 0.4 msft, GDV ₹1,400 crore
  • Embassy Knowledge Park – Villas (Bengaluru): 1.1 msft, GDV ₹2,500 crore
  • Embassy Knowledge Park – Apartments (South) (Bengaluru): 1.5 msft, GDV ₹1,950 crore
  • 109 Commercial, Gurgaon (NCR): 0.5 msft, GDV ₹800 crore
  • Embassy Serenity, Alibaug (MMR): 0.3 msft, GDV ₹450 crore
  • Plots @ Embassy Springs 9 Acres (Bengaluru): 0.2 msft, GDV ₹200 crore
  • Front Parcel Villas & Apartments @ Embassy Springs (Bengaluru): 1.7 msft, GDV ₹1,900 crore
  • Whitefield (JDA Project, Bengaluru): 1.7 msft, GDV ₹2,000 crore (Embassy's economic interest: 68.5%)
  • Embassy Hub (Plot A) (Bengaluru): 1.2 msft, GDV ₹2,100 crore (Embassy's economic interest: 91%)

Development Management Projects

  • Embassy Terazza (Juhu, Mumbai): 0.3 msft, GDV ₹3,050 crore
  • Sky Terraces (Bengaluru): 1.5 msft, GDV ₹3,050 crore

Financial Performance (Consolidated)

Cash Flow Abstract:

  • Opening cash and cash equivalents: ₹1,165 crore
  • Net operating cash flows: (₹285) crore
  • Net investing cash flows: ₹58 crore
  • Net financing cash flows: ₹264 crore
  • Closing cash and cash equivalents: ₹1,202 crore

Profit & Loss Abstract:

  • Revenue from operations: ₹217 crore (Q1 FY27) vs ₹681 crore (Q1 FY26)
  • Total income: ₹241 crore (Q1 FY27) vs ₹694 crore (Q1 FY26)
  • Gross profit: ₹36 crore (Q1 FY27) vs ₹102 crore (Q1 FY26)
  • EBITDA: (₹106) crore (Q1 FY27) vs ₹2 crore (Q1 FY26)
  • PBT: (₹238) crore (Q1 FY27) vs (₹165) crore (Q1 FY26)
  • PAT: (₹234) crore (Q1 FY27) vs (₹166) crore (Q1 FY26)

Portfolio Overview

  • Presence in 7+ cities
  • 40+ projects
  • 38 million sq. ft. portfolio (saleable + leasable)
  • Residential: ~26 million sq. ft.
  • Commercial (retail + office): ~12 million sq. ft.
  • Land bank: 3,251 acres (excluding projects)
  • Total GDV: ~57,000 crore INR
  • Residential GDV: ~41,000 crore INR
  • Commercial GDV: ~16,000 crore INR
  • Project surplus margin: ~53%
  • Total equity: ~9,700 crore INR

Notes on Financial Comparability

The document notes that financial results for quarter ended June 30, 2025, quarter ended March 31, 2025, and quarter ended June 30, 2024 are not comparable due to a reverse merger accounting treatment following the amalgamation of Nam Estates Private Limited and Embassy One Commercial Property Developments Private Limited with EDL, effective January 24, 2025.