Embassy Developments Begins FY27 with Strong OperatingPerformance; Reports ~338% YoY Growth in Pre-Sales

Q1 FY27 pre-sales at ~₹868 crore, up ~338% YoY; collections grow ~54% YoY to ~₹496 crore
Receives RERA approval for its flagship DM project, Embassy Terazza in Juhu, Mumbai, with GDV in excess of ~₹3,000 crore
Board approves preferential allotment of convertible warrants of ~₹363 crore at an exercise price of ₹111.51 per share to Embassy Group, subject to shareholder approval
Promoters voluntarily commit to converting all Warrants into equity within six months, ahead of the maximum permitted tenure of 18 months

Mumbai/Bengaluru – August 10, 2026:

Embassy Developments Limited (“EDL” or “the Company”) today announced its financial results for the quarter ended June 30, 2026 (Q1 FY27), marking a strong start to the year with sustained customer demand, healthy collections and progress across its development portfolio.

EDL delivered pre-sales of ~₹868 crore in Q1 FY27, representing a growth of ~338% year-on- year compared to ₹198 crore in Q1 FY26. Collections during the quarter stood at ~₹496 crore, up 54% from ₹322 crore in the corresponding period last year.

Demand across the Company’s portfolio remained strong – of the ~4.3 million square feet of residential launches across Bengaluru and Mumbai during FY26, nearly 60% has been sold as of June 30, 2026. Bengaluru projects witnessed particularly strong customer response, with ~72% of launched inventory sold within six months.

The Company continued to make progress on project execution. One 09 Phase I in Gurugram received its Occupancy Certificate during the quarter, bringing the project closer to customer handovers in NCR. At Golfcity, Savroli, five additional towers also received their Occupancy Certificates. In Mumbai, 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.

Further, the company secured Real Estate Regulatory Authority (RERA) approval for Embassy Terazza, its ultra-luxury residential development in Juhu, Mumbai. The project with a gross development value (GDV) in excess of ~₹3,000 crore, located in one of Mumbai’s most coveted residential addresses, 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.

As of June 30, 2026, EDL’s net institutional debt stood at ~₹3,300 crore, after adjusting for cash and cash equivalents of ~₹1,200 crore.

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. With an estimated FY27 launch pipeline of nearly ₹19,400 crore GDV, 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.

The Company’s Board has also approved a preferential allotment of convertible warrants amounting to ~₹363 crore to Embassy Group at an exercise price of ₹111.51 per share, representing an ~80% premium over the prevailing market price and the regulatory floor price prescribed under the SEBI Regulations, subject to shareholder approval. The proceeds will be used to repay outstanding shareholder debt of Embassy Group, further strengthening the balance sheet and reducing cost of capital. 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. The significantly premium pricing and accelerated conversion commitment demonstrates their confidence in and long-term alignment with the Company’s growth strategy and value- creation potential.

Aditya Virwani, Managing Director, Embassy Developments Limited, said, “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.”

For more information please contact:
Arjun Biswajit Choudhury
arjun.c@embassyindia.com
Sera Minocher
sera.r@embassyindia.com

About Embassy Developments Limited

Embassy Developments Limited (formerly known as Equinox India Developments Limited) (EDL) is one of India’s largest listed real estate developers, specialising in the development of residential and commercial projects across key urban markets. With a strategic focus on Bengaluru, the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR), the Company also has a presence in Chennai and Indore. EDL has a diversified residential portfolio with a well-balanced mix of developments across mid-income, premium, and luxury segments. Its portfolio of ready, ongoing, and future residential projects includes branded residences, uber-luxury apartments and villas, exclusive town homes, condominiums, integrated townships, senior living communities, and contemporary homes. The Company is listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) and holds a long-term debt rating of IVR A- (Stable) from Infomerics. EDL benefits from the strong institutional foundation of its promotor, the Embassy Group, which brings over three decades of experience and a proven track record of delivering and managing more than 100 million sq. ft. across commercial, residential, hospitality, services, and education sectors in India. Further information is available at embassyindia.com

Disclaimer

This press release is for informational purpose only and does not constitute a prospectus, offering memorandum or an offer, or a solicitation of any offer, to purchase or sell any securities of Embassy Developments Limited (“Company”) or its existing or future subsidiaries (collectively, the “Group”) in any jurisdiction. Any offer or solicitation will be made only by means of definitive offering documents and in accordance with the terms of applicable securities and other laws. This press release should not be considered as a recommendation or advice to any person or investor to invest or subscribe for or purchase any securities of the Group or its existing or future subsidiaries (collectively, the “Group”) and should not be used as a basis for any investment decision. Recipients of this press release should conduct their own independent investigation and diligence, and/or consult their legal, tax, financial or other professional advisors as they deem fit. This press release contains certain forward‐looking statements based on current expectations, projections and assumptions and are subject to risks and uncertainties that could cause actual results, performances or events to differ materially from the results contemplated by the relevant forward- looking statement. These risks and uncertainties include the effect of economic and political conditions in India and outside India, volatility in interest rates and in securities markets, new regulations and government policies, the general state of the Indian economy, and the management’s ability to implement the company’s strategy that might impact the Group ‘s general business plans, its future financial condition and growth prospects. The information contained in this press release is only current as on the date hereof and is not indicative of future results. The Group is under no obligation to update these forward‐looking statements or to inform the recipient of any changes or developments arising after the date of this press release. Moreover, both express or implied press release or warranty is made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this press release. Neither the Group nor any of its directors, officer, employees, advisers or representatives accept any liability whatsoever for any loss howsoever arising from any information presented or contained in this press release. Furthermore, no person is authorized to give any information or make any press release which is not contained in, or is inconsistent with, this press release. Any such extraneous or inconsistent information or press release, if given or made, should not be relied upon as having been authorized by or on behalf of the Group.