| Scrip Code | 532832 |
|---|---|
| NSE Symbol | EMBDL |
| MSEI Symbol | NOTLISTED |
| ISIN | INE069I01010 |
| Name of company | Embassy Developments Limited |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 09-02-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 02-02-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | The Company's primary business segment is reflected based on principal business activities carried on by the Company. As per Indian Accounting Standard 108 as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in Section 133 of the Companies Act, 2013, the Company operates in one reportable business segment i.e. real estate development and other real estate related services and is primarily operating in India and hence, considered as single geographical segment. |
| Start date and time of board meeting | 09-02-2026 15:15:00 |
| End date and time of board meeting | 09-02-2026 16:53:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | Yes |
| No. of times funds raised during the quarter | 1 |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| Not Applicable | |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 4,052.20 | 32,561.20 | |
| Other income | 966.70 | 6,378.20 | |
| Total income | 5,018.90 | 38,939.40 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 3,338.30 | 23,754.20 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 |
| (d) | Employee benefit expense | 3,210.30 | 10,096.80 |
| (e) | Finance costs | 1,433.30 | 14,881.50 |
| (f) | Depreciation, depletion and amortisation expense | 1,104.30 | 2,407.90 |
| (f) | Other Expenses | ||
| 1 | Other expenses | 3,766.60 | 8,875.40 |
| Total other expenses | 3,766.60 | 8,875.40 | |
| Total expenses | 12,852.80 | 60,015.80 | |
| 3 | Total profit before exceptional items and tax | (7,833.90) | (21,076.40) |
| 4 | Exceptional items | (268.70) | (218.70) |
| 5 | Total profit before tax | (8,102.60) | (21,295.10) |
| 6 | Tax expense | ||
| 7 | Current tax | (228.90) | (328.30) |
| 8 | Deferred tax | (477.40) | (642.20) |
| 9 | Total tax expenses | (706.30) | (970.50) |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | (7,396.30) | (20,324.60) |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | (7,396.30) | (20,324.60) |
| 17 | Other comprehensive income net of taxes | (59.10) | 121.10 |
| 18 | Total Comprehensive Income for the period | (7,455.40) | (20,203.50) |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 27,800.70 | 27,800.70 | |
| Face value of equity share capital | 2 | 2 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -0.53 | -1.51 | |
| Diluted earnings (loss) per share from continuing operations | -0.53 | -1.51 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | -0.53 | -1.51 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -0.53 | -1.51 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | The unaudited standalone financial results of Embassy Development Limited (formerly known as Equinox India Developments Limited and earlier known as Indiabulls Real Estate Limited) (EDL or Company ) have been reviewed by the audit committee and approved by the Board of Directors at their respective meetings held on February 09, 2026. The statutory auditors have carried out limited review of the above results and have issued unmodified limited review report. Note: For other notes, please refer pdf notes |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Remeasurements of the defined benefit plans, net of taxes | (59.10) | 121.10 |
| Total Amount of items that will not be reclassified to profit and loss | (59.10) | 121.10 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 0.00 | 0.00 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5 | Total Other comprehensive income | (59.10) | 121.10 |
| Mode of Fund Raising | Preferential Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 21-05-2024 |
| Amount Raised | 3,51,066.00 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | CARE RATINGS LIMITED |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | NA |
| Comments of the Audit Committee after review | None |
| Comments of the auditors, if any | None |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | 100% acquisition of the entity that owns Embassy Residency | None | 12,000.00 | 12,000.00 | 11,956.00 | 44.00 | N.A. |
| 2 | 100% acquisition of the entity that owns rights to Embassy East Avenue | None | 11,700.00 | 11,700.00 | 11,728.00 | 28.00 | The actual purchase consideration is marginally higher than the amount proposed against the object, due to closing adjustments. As per applicable provisions and shareholders approval, the actual utilised amount can vary between +/- 10%. Hence, the amount utilized is within the permitted deviation of 10%. |
| 3 | Acquisition of Embassy Eden | None | 46,600.00 | 46,600.00 | 46,570.00 | 30.00 | The company has utilized debt financing of INR 449.20 crore for the acquisition of asset by its wholly owned subsidiary - Fama Real Estate Limited, and the corresponding amount from the proceeds on conversion of warrants will be utilized towards retirement or repayment of such debt within a period of 12 months from the expiry of the tenure of Subscription Warrants. |
| 4 | 100% acquisition of the entity that owns FSI rights in Blu Annex | None | 1,23,300.00 | 1,23,300.00 | 1,23,325.00 | 25.00 | The actual purchase consideration is marginally higher than the amount proposed against the object, due to closing adjustments. As per applicable provisions and shareholders approval, the actual utilised amount can vary between +/- 10%. Hence, the amount utilized is within the permitted deviation of 10%. |
| 5 | Discharge of existing obligations towards Sky Forest Projects Private Limited | None | 8,700.00 | 8,700.00 | 8,671.00 | 29.00 | N.A. |
| 6 | Growth initiatives (acquisition of future assets/ projects by the Company or its subsidiaries) | None | 1,01,300.00 | 67,950.00 | 68,024.00 | 74.00 | Due to the non-receipt of the balance consideration on the unexercised warrants, INR333.50 crore was reduced from the Growth Initiative out of the total shortfall amount of INR397.48 crore |
| 7 | General corporate purposes | None | 87,493.00 | 80,816.00 | 80,763.00 | 53.00 | Issue size was reduced from INR 3,910.93 crore to INR 3,908.14 crore, due to non-participation by one of the investors. The corresponding amount has been reduced from general corporate purpose. Further, due to non-receipt of the balance consideration on the unexercised warrants, an amount of INR 63.98 crore was reduced from the general corporate purpose out of the total shortfall amount of INR 397.48 crore. |
| Name of signatory | Rajesh Kaimal |
| Designation of person | Chief Financial Officer |
| Place | Bengaluru |
| Date | 09-02-2026 |