Operational Performance Summary for Q1 FY27 (Quarter Ended June 30, 2026)

The company reported strong operational performance for the first quarter of fiscal year 2027.

Pre-Sales: Achieved pre-sales of approximately ₹868 crore, representing a year-on-year growth of approximately 338% compared to ₹198 crore in Q1 FY26.

Collections: Collections during the quarter stood at approximately ₹496 crore, showing a 54% year-on-year increase from ₹322 crore in the corresponding period last year.

Project Portfolio and Sales Progress

Inventory Sales Status: Of the approximately 4.3 million square feet of residential launches across Bengaluru and Mumbai during FY26, nearly 60% has been sold as of June 30, 2026.

Regional Performance: Bengaluru projects witnessed particularly strong customer response, with approximately 72% of launched inventory sold within six months.

Project Execution Updates

Gurugram Project: One 09 Phase I in Gurugram received its Occupancy Certificate during the quarter, bringing the project closer to customer handovers in NCR.

Golfcity, Savroli Project: Five additional towers at Golfcity, Savroli received their Occupancy Certificates.

Mumbai Project: Embassy Citadel received approvals for all 81 floors of the development upfront, rather than through phased approvals, providing conviction around the project's execution and development timeline.

New Project Approval

Embassy Terazza, Juhu, Mumbai: The company secured Real Estate Regulatory Authority (RERA) approval for its ultraluxury residential development in Juhu, Mumbai. The project has a gross development value (GDV) in excess of approximately ₹3,000 crore and is located in one of Mumbai's most coveted residential addresses. It is a low-density development spanning over two acres and approximately 0.3 million sq. ft. of RERA carpet area. The project comes under EDL's Development Management (DM) model.

Financial Position

Net Institutional Debt: As of June 30, 2026, EDL's net institutional debt stood at approximately ₹3,300 crore, after adjusting for cash and cash equivalents of approximately ₹1,200 crore.

Historical Context and Future Guidance

FY26 Performance: The Q1 performance builds on EDL's record FY26 performance, during which the Company achieved pre-sales of ₹4,631 crore, representing a growth of 128% year-on-year.

FY27 Launch Pipeline: The company has an estimated FY27 launch pipeline of nearly ₹19,400 crore GDV.

FY27 Guidance: EDL remains on track to achieve its FY27 guidance of ₹6,000 crore in pre-sales from owned developments and ₹2,000 crore from development management projects.

Corporate Action - Preferential Allotment

Board Approval: The Company's Board has approved a preferential allotment of convertible warrants amounting to approximately ₹363 crore to Embassy Group.

Exercise Price: The exercise price is set at ₹111.51 per share, representing an approximately 80% premium over the prevailing market price and the regulatory floor price prescribed under the SEBI Regulations.

Approval Status: Subject to shareholder approval.

Use of Proceeds: The proceeds will be used to repay outstanding shareholder debt of Embassy Group, further strengthening the balance sheet and reducing cost of capital.

Promoter Commitment: The Promoters have voluntarily committed to convert all the Warrants into equity shares within 6 months, significantly ahead of the maximum permitted tenure of 18 months.

Management Commentary

Aditya Virwani, Managing Director: "We have started FY27 with strong momentum, driven by healthy sales and collections from existing launches. We entered the year with a substantial portfolio comprising ~₹10,500 crore of ongoing residential inventory, ₹400 crore of completed inventory, and a ₹19,400 crore launch pipeline, providing a robust foundation for future growth. The operating environment remains favourable, with sustained demand across both premium and luxury segments, while customer preference continues to shift towards trusted developers with a proven track record. We believe Embassy is well positioned to benefit from these trends and are focused on disciplined execution and creating long-term value as we continue to scale our development platform and expand our market share."

Company Background

Embassy Developments Limited is one of India's largest listed real estate developers, specialising in the development of residential and commercial projects across key urban markets including Bengaluru, Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Chennai and Indore. The company holds a long-term debt rating of IVR A- (Stable) from Infomerics.

Disclaimer

The press release contains forward-looking statements subject to risks and uncertainties including economic and political conditions, interest rate volatility, new regulations, and management's ability to implement strategy. The information is current as of August 11, 2026.