Embassy Developments Ltd has approved raising up to ₹160 crore through non-convertible debentures on a private placement basis. The company's board-constituted committee approved the fundraise at its meeting on Saturday, September 19. The proposed NCDs will have a face value of ₹1 lakh each and may be issued in one or more tranches, part of tranches or series from time to time. As per CNBC TV18, the securities will be rated, unlisted, secured, redeemable and taxable non-convertible debentures, not proposed to be listed on any stock exchange. On Friday, shares of Embassy Developments ended at ₹53.87, down by ₹0.99, or 1.80% on the BSE.
For the April-June quarter of 2026 (Q1FY27), Embassy Developments reported bookings of ₹868 crore, more than four times the ₹198 crore recorded a year earlier. The area sold also more than doubled to 4.84 lakh square feet from 2.06 lakh square feet, while collections rose 54% year-on-year to ₹496 crore from ₹322 crore. As per CNBC TV18, CFO Rajesh Kaimal said collections should strengthen from Q2 as projects launched in the previous financial year, 2025-26 (FY26), enter the collection cycle. With net debt at around ₹3,300 crore and a debt-to-equity ratio of 0.35x, he said the balance sheet remains comfortable. The promoters have also assured the company that the share pledge will be reduced over the next two to three years.
Embassy Developments has set an ₹8,000 crore sales booking target for FY27, backed by a robust ₹19,500 crore launch pipeline. The company has already launched inventory worth ₹9,000 crore and reported ₹4,631 crore of sales bookings in FY26. As per Mint, Managing Director Aditya Virwani emphasized the company's focus on premium and luxury projects, stating "We want to double down on ultra-luxury housing. We want to be a brand known for luxury but also want to hit volumes with premium projects. Our definition of premium is typically an entry price of ₹2 crore in an Embassy project." The company expects Bengaluru to continue leading, even as Mumbai steadily gains traction. Demand is expected to be strong across markets, with Bengaluru continuing to lead while Mumbai gains traction.
Bengaluru's ultra-luxury housing market showed strong growth in 2025-26, with 125 residential units priced at over ₹10 crore sold, totaling ₹2,087 crore, compared to 84 similarly priced units in FY25. According to the Southern Indian High End Luxury Housing Report by CRE Matrix and Sotheby's International Realty, Embassy projects accounted for over 60% of sales in Bengaluru in this price segment. Hyderabad remained the market leader with 645 units sold for ₹8,562 crore, while Chennai was the smallest with 58 units sold for ₹727 crore. As per Mint, NRI interest has increased from 6-8% to 8-10% of sales since the West Asia war.
Embassy Developments has launched Embassy Origins, an 85-acre residential development in North Bengaluru with a gross development value of approximately ₹4,500 crore. The first phase comprises two RERA-approved residential projects - Embassy Riverine with 217 villas (4, 4.5 and 5 BHK) across approximately 1.1 million sq. ft. of saleable area with a starting price of ₹14 crore, and Embassy South Reserve with 855 apartments (Studio to 3.5 BHK) across approximately 1.5 million sq. ft. of saleable area starting at ₹2 crore. Beyond Bengaluru, EDL has lined up luxury projects in Mumbai, recently launching a two-acre project with just 38 units, around 6,000 sq ft each, in the city's upmarket Juhu locality with price per sq ft above ₹1 lakh. The company will also launch a project in Alibaug, near Mumbai, and a commercial office project in Gurugram this year.
