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Prices as of 8 Oct 2026 close · Not investment advice

Embassy Developments Limited

NSE: EMBDLResidential, Commercial Projects

Share price

₹56.26

-1.63% close of 8 Oct 2026

Market cap ₹7,820 CrP/E —

Business score

How strong the business is, in one number. The parts behind it are in Pro.

22

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹7,820 Cr

P/E ratio

—

P/B ratio

0.8

ROCE

-2.4%

ROE

-9.2%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹95.0752-week low ₹39.46

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Mar 2024 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Mar 2024 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

It has no earnings, so there is no price-to-earnings to compare.

Whether growth justifies the valuation

It has no earnings to weigh the price against.

Profit growthPrice per ₹1 profitPer 1% growth
Embassy Developments Limited — this one———
DLF Limited27%/yr36.6×₹1.4
Lodha Developers Limited56%/yr25.8×₹0.46
The Phoenix Mills Limited12%/yr49.2×₹4.1
Prestige Estates Projects18%/yr53.4×₹3.0
Oberoi Realty9%/yr22.9×₹2.5

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Residential, Commercial Projects), it ranks 78 of 86 on returns, 45 of 80 on growth, 74 of 86 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

It is losing money on the capital in the business, so there is no advantage to measure.

Whether its growth pays for itself

Yes — Over the last five years it made ₹817 crore of cash from the business, spent ₹100 crore on plant and equipment, and returned ₹1745 crore to lenders and shareholders. And the profit is not backed by cash: it reported a profit over 12 years and consumed cash from the business. Its cash comes back more slowly than it used to: it went from being waiting 384 days for its cash to waiting 1501 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

3 of 7 checks clear · 43%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 10 Aug 2026 · Consolidated · Unaudited

Revenue

₹217 Cr

Revenue vs last year

-68.2%

Revenue vs last quarter

-36.6%

Net profit

-₹234 Cr

Net margin

-108.1%

EPS

₹-1.69

Earnings call transcript · 11 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹7,820 Cr
Prev close
₹56.26
52w High
₹97.4
52w Low
₹39.5
Enterprise value
₹12,142 Cr
Beta
1.4
Price CAGR 1y
-39.0%
Price CAGR 3y
-10.0%
Price CAGR 5y
-17.0%
Price CAGR 10y
-4.0%

Ratios

Return on assets
-4.1%
PEG ratio
—
P/E ratio
—
P/B ratio
0.8
EV / EBITDA
-28.1
Industry P/E
23.4
ROCE
-2.4%
ROCE 5y average
-2.8%
ROE
-9.2%
Debt / Equity
0.5
Interest coverage
-0.6
Dividend yield
0.0%
ROE 3y average
-7.0%
ROE last year
-9.0%

Annual P&L

Annual revenue
₹1,732 Cr
Annual profit
-₹872 Cr
Operating margin
-27.0%
Net profit margin
-50.3%
EBITDA margin
-27.3%
Sales growth 3y
43.4%
Sales growth 5y
2.6%
Profit growth 3y
—
Profit growth 5y
—
EPS
₹-6.3
Sales growth TTM
-47.0%
Profit growth TTM
-1334.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹217 Cr
Profit latest quarter
-₹234 Cr
YoY quarterly sales growth
-68.2%
YoY quarterly profit growth
—
OPM latest quarter
-60.3%

Balance Sheet

Book Value
₹71.0
Face Value
₹2.0
Total debt
₹5,322 Cr
Total cash
₹1,002 Cr
Borrowings
₹5,322 Cr
Reserves / Equity
34.5

Cash Flow

Operating cash flow
₹44 Cr
Free cash flow
₹1 Cr
FCF yield
-7.0%
Net cash flow
₹600 Cr

Shareholding

Promoter holding
42.6%
FII holding
23.4%
DII holding
3.0%
Public holding
30.9%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
DLF656.0037.71,62,3801.22793.94.11,280.3-52.96.3
Lodha Developers1,109.4026.91,10,8720.381,373.1103.44,996.743.116.4
Phoenix Mills1,845.5050.966,0090.14394.523.31,074.912.812.4
Oberoi Realty1,736.0023.863,1210.46543.529.01,300.931.717.3
Prestige Estates1,429.3054.161,5640.14271.4-19.42,675.115.910.4
Godrej Propert.1,580.2029.447,6000.63349.4-41.7506.216.57.6
Anant Raj612.1538.122,0300.16149.218.9631.46.612.1
Embassy Develop57.197,9530.00-234.4-41.3216.8-68.2-2.4
Median138.9524.19620.008.526.690.714.37.6

Competes with: Anant Raj Limited, DLF Limited, Godrej Properties, Lodha Developers Limited, Oberoi Realty, Prestige Estates Projects, The Phoenix Mills Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales19696101380490475325889681493213342217
Expenses254119134372514399231881692545365604347
Material Cost719593425223366205
Change in Inventories000000
Purchases of Stock-in-Trade000000
Employee Cost586261647677
Other Expenses10437597716165
Operating Profit-58-23-338-2476948-11-52-152-261-131
OPM %-29-24-332.13-4.9816290.88-1.58-11-71-76-60
Other Income-61612112268242661344476925
Exceptional items (within Other Income)-2800.50-4.384.040
Interest134150115101106139160135113140119
Depreciation3332253579201313
Profit before tax-677-16-28-122-73-27-11129-165-152-238-345-238
Tax %01136-26-2725134510-2-60
Net Profit-679-18-38-99121-34-27123-166-153-233-323-234
EPS in Rs-13-0.34-0.71-1.831.93-0.54-0.331.06-1.21-1.11-1.67-2.33-1.68
Diluted EPS in Rs0.90-1.29-1.12-1.68-2.33-1.69

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,6412,9592,3204,5034,9443,2711,5211,4455874142,1801,7321,265
Expenses2,0302,0621,6671,1973,8972,4721,3411,4469428391,8872,2051,861
Material Cost1,6031,607
Change in Inventories00
Purchases of Stock-in-Trade00
Employee Cost107263
Other Expenses306335
Operating Profit6118986533,3061,047799180-1-356-425293-473-596
OPM %23302873212412-0.10-61-10313-27-47
Other Income951375182292789014096-167-577210173185
Exceptional items (within Other Income)-280.16
Interest336501561744464481228110289461549507
Depreciation20697197173117121211154854
Profit before tax3514645392,69484437875-27-563-1,02327-897-973
Tax %2331341240689440982-643-3
Net Profit2713213572,3605041215-137-608-1,038194-872-944
EPS in Rs5.846.418.3050112.650.09-3-11-191.63-6.28-6.79
Diluted EPS in Rs1.43-6.43
Dividend Payout %000000000000

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
-5%
5 years
3%
3 years
43%
TTM
-47%

Compounded profit growth

10 years
—
5 years
—
3 years
—
TTM
-1334%

Stock price CAGR

10 years
-4%
5 years
-17%
3 years
-10%
1 year
-39%

Return on equity

10 years
3%
5 years
-7%
3 years
-7%
Last year
-9%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital8592879590919091108108244278
Reserves7,0853,9013,9562,8502,8603,4673,3923,3243,1222,2209,0779,590
Borrowings6,5448,9039,4107,6487,0332,7371,2231,3296937324,6075,322
Other Liabilities3,1305,2265,1159,4876,2094,9924,0513,0072,6642,8556,5526,338
Minority Interest5.5696
Total Liabilities16,84418,12218,56820,08016,19211,2878,7577,7516,5875,91520,48121,528
Fixed Assets1121123,787952189135869683726,0896,188
CWIP12701000000091
Investments5,8292,9898753,8592,56813214526915715898165
Other Assets10,77615,02113,90415,26913,43411,0208,5267,3856,3475,68514,28415,175
Total Assets16,84418,12218,56820,08016,19211,2878,7577,7516,5875,91520,48421,528

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-2,830973639-891-1,159-432853-248-343-971,46144
Cash from Investing Activity-81235-5411551,7841,76897128066196574-74
Cash from Financing Activity3,315-695-8342,057-1,695-1,890-1,791-64-331-8-1,971629
Net Cash Flow403513-7351,321-1,071-55533-31-13-1064600
Free Cash Flow-2,882934607-1,100-1,196-440854-248-343-1001,4071

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days2240860212097269475695
Inventory Days10,9262,3775,0512,595
Days Payable432217320126
Cash Conversion Cycle2240811,09612,1804,7402,54169475695
Working Capital Days6928361,095-562193847647892,1862,4079371,501
ROCE %67727131152-7-114-2

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters000000434243434343
FIIs242325293030162827252423
DIIs1.071.780.413.425.025.383.523.663.633.383.253.02
Public757575686565372627293031
Others0.110.110.110.090.090.090.050.040.040.040.040.04
No. of Shareholders3,16,6653,12,3563,04,7623,59,4793,14,9992,95,3332,73,9682,70,3602,73,4382,68,7042,62,1322,57,137

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -40.1% (₹93.95 → ₹56.26)Brick size ₹2.64 (fixed)Bricks 54
₹40.00₹60.00₹80.00₹56.26Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹56.26 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

total loans / revolving facilities outstanding at period end, the base of loan_default_cr

747cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,39,25,236inr

2026-03-31

News

News and filings about Embassy Developments Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Aggregates

Depends on the price of

  • aluminium
  • cement
  • steel

Sells to

  • Commercial tenants · Office and retail space

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Realty
Industry
Residential, Commercial Projects
Classification
Realty › Residential, Commercial Projects
ISIN
INE069I01010

News impact

Big market events that reach Embassy Developments Limited, and how the effect spreads.

Who it hits first

  • SEBI told the Bombay High Court it found no 'fit and proper' disqualification for people linked to Embassy Office Parks REIT, after finishing its review under rules amended in April 2026.
  • That lifts a governance cloud over Embassy REIT, a listed owner of office parks, and gives a sentiment lift to Embassy Developments, its group property developer.
  • No new buildings, rents, or contracts change — the effect is confidence and easier capital access, not extra sales.

Who may gain

  • Embassy Office Parks REIT unitholders and managers — the fit-and-proper cloud clears
  • Embassy Developments, the group property developer — sentiment and funding access improve slightly

Along the supply chain

Downstream

No direct link downstream — office tenants, home buyers, and brokers see no rent or price change from this ruling.

Upstream

No direct supply-chain link upstream — cement, steel, or contractor orders do not change on a fit-and-proper clearance.

Where demand moves

Business

No direct business demand changes — no new leases, sales, or orders flow from a court clearance; any pickup would be indirect if easier funding lets Embassy build or lease faster later.

Capital

Capital sentiment improves for Embassy names as governance risk fades, likely small buying in Embassy Developments and calm holding across large Realty stocks; no fresh issuance or flows announced.

How it spreads across sectors

Realty

Small confidence boost for listed office owners and developers as REIT governance risk clears; no rent or sales impact.

When it plays out

Immediate

1–7 days: small relief buying in Embassy Developments; large Realty peers steady on sentiment.

Medium term

1–6 months: no lasting earnings impact unless cleared status eases fundraising for new Embassy projects.

Short term

1–4 weeks: focus shifts to the court record and any SEBI order text; the bounce fades without fresh triggers.

28 Sept, 10:21 IST · Market event · medium impact

What RBI’s new REIT, InvIT valuation rule means

RBI changed how REIT and InvIT values are calculated, which may trim property values and hurts indebted developers most while strong builders watch and wait.

RealtyConstruction

Who it hits first

  • RBI, India's central bank, issued a new rule changing how REITs (listed office trusts) and InvITs (listed road and power trusts) calculate their net asset value, or NAV.
  • The pack carries no rule text or article detail, so the market must guess whether NAVs fall a little or a lot.
  • Property and construction shares face fresh valuation doubt, with weak and pledged developers hit hardest and strong names drifting lower.

Who may gain

  • No clear winners — this rule tightens values, so it pressures sellers, not buyers.
  • Strong cash-rich builders like DLF and Lodha, who can buy cheap assets if weaker rivals must sell.
  • Valuers and auditors, who get fresh work restating NAVs under the new method.

Along the supply chain

Downstream

No direct downstream link — homebuyers and office tenants pay rents and prices, not NAVs, so no customer chain moves.

Upstream

No direct supply-chain link — a valuation formula does not order cement, steel or labour.

Where demand moves

Business

No homes or offices are bought or cancelled because of a valuation formula; builders keep selling, but their stated asset values may shrink.

Capital

Investors pause fresh buying in REIT-linked property names and demand a bigger discount until the new NAVs are published.

How it spreads across sectors

Construction

Mild negative as InvIT funding caution could slow new road and power orders, but EPC builders feel little direct hit.

Realty

Negative for office and mall owners whose values mirror REIT NAVs; housing-only builders feel only sympathy selling.

A pattern seen before

Cascade chain

  • RBI resets REIT/InvIT NAV math → listed trust values restated
  • Property and infra asset prices re-anchor to lower NAVs
  • Developers face higher funding scrutiny; lenders reprice builder loans

Pattern name

RBI Rate Cascade

Patterns

  • RBI Rate Cascade

Sectors queried

  • Auto
  • Banking
  • Consumer Durables
  • Infrastructure
  • NBFC
  • Real Estate

When it plays out

Immediate

1–7 days: realty shares drift lower as investors wait for the rule text and first NAV restatements.

Medium term

1–6 months: funding costs and deal flow settle; strong builders recover, weak pledged names lag.

Short term

1–4 weeks: REITs publish restated NAVs; office-heavy builders reprice while housing names stabilise.

Who it hits first

  • Embassy Office Parks REIT, which owns office parks and pays rent to its investors, raised Rs 1,000 crore by selling bonds (non-convertible debentures) to replace old loans.
  • A large European bank bought the whole Rs 1,000 crore issue, showing foreign investors still want Indian property debt.
  • The swap should steady Embassy REIT payouts by pushing repayments out and may trim interest costs, but it builds no new offices.

Who may gain

  • Embassy REIT small investors, who live off steady payouts — refinancing lowers the risk of a payout cut.
  • Embassy REIT old lenders, who get repaid early from the Rs 1,000 crore.
  • The European bank buyer, which earns steady interest backed by top-grade Indian office rents.
  • Other Realty builders get only a faint confidence signal, not new business.

Along the supply chain

Downstream

No direct downstream link — tenants, homebuyers and office users see no change in rents or supply from this refinancing.

Upstream

No direct supply-chain link — purely capital-flow event; no supplier of steel, cement or services gains orders from a loan swap.

Where demand moves

Business

No new business demand — no offices were leased, no homes sold and no construction was ordered; the Rs 1,000 crore only replaces old loans.

Capital

Rs 1,000 crore of foreign capital flows into Embassy REIT bonds and straight out to old lenders; it signals global banks will still fund Indian REITs, which may help future Realty bond sales.

How it spreads across sectors

Realty

Mild funding cheer only — Embassy fully sold Rs 1,000 crore issue shows REIT debt still clears, but rival builders like DLF and Lodha gain no sales or cheaper loans today.

A pattern seen before

Cascade chain

Pattern name

RBI Rate Cascade

Patterns

  • RBI Rate Cascade

Sectors queried

  • Auto
  • Banking
  • Consumer Durables
  • Infrastructure
  • NBFC
  • Real Estate

When it plays out

Immediate

Embassy REIT refinancing overhang lifts; its units may steady while rival builders stay flat on no new demand.

Medium term

If foreign bids repeat, Indian REITs could refinance more cheaply, but office rents and home sales still drive the sector.

Short term

Lower repayment pressure supports next payout talk; bankers may pitch similar NCDs to other Realty names.

22 Sept, 19:33 IST · Market event · medium impact

RBI changes valuation rules for InvIT, REIT units

RBI changed how banks value infrastructure and property trust units, hurting banks and developers holding them with no near-term winners.

Financial ServicesRealty

Who it hits first

  • RBI, the banking regulator, has changed how InvITs (infrastructure trusts) and REITs (property trusts) units are valued.
  • Banks and NBFCs holding these units must reprice their books, which can trim reported values near term.
  • Developers and sponsors face cooler fundraising mood for new REIT and InvIT issues until prices settle.

Who may gain

  • Long-term REIT and InvIT buyers gain clearer, more honest prices once books reset.
  • Banks and NBFCs holding units lose near term if revaluation trims book values.
  • Property developers face cooler REIT fundraising sentiment until prices settle.

Along the supply chain

Downstream

No direct downstream link — tenants and homebuyers do not shift from a valuation method change.

Upstream

No direct upstream link — RBI accounting rules do not change cement, steel or contractor orders for developers.

Where demand moves

Business

No new business orders follow an accounting rule — developers sell no extra flats from a valuation method change.

Capital

Investors reprice InvIT and REIT units, holders trim books, and new unit issuance waits for steady prices.

How it spreads across sectors

Financial Services

Lenders and holders that own InvIT and REIT units face book-value markdowns and sentiment pressure until books reset.

Realty

Developers see no order change but face softer REIT fundraising and sentiment as unit prices reprice.

A pattern seen before

Cascade chain

  • RBI valuation norms reset InvIT/REIT unit values
  • Bank and NBFC holding books reprice
  • REIT yields and developer funding sentiment cool

Pattern name

RBI Rate Cascade

Patterns

  • RBI Rate Cascade

Sectors queried

  • Auto
  • Banking
  • Consumer Durables
  • Infrastructure
  • NBFC
  • Real Estate

When it plays out

Immediate

InvIT and REIT units reprice; holders disclose small book adjustments and developers pause new plans.

Medium term

Clearer valuations aid future fundraising; books stabilize and issuance resumes on reset prices.

Short term

Banks and NBFCs publish revalued books; REIT yields and developer funding mood stay soft.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

6 May 2014interim₹1
31 Oct 2013interim₹1
5 Aug 2013interim₹1
7 May 2013interim₹2
22 Sep 2011unspecified₹0.3

Splits, bonuses & buybacks

  • daily-prices repair: 11 rows from NSE's archive (replace 1, delete 3, insert 7), 2016-10-30..2026-05-28 (docs/flat_day_repair.md)1× · 30 Oct 2016

Insider trades

DisclosedWhoTypeSharesValue ₹ Cr
5 Oct 2026Jitendra Virwani · Promoter and DirectorBUY3,48,5001.99

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.