India's Richest People 2026 edition · 1 director · Source: Hurun India
- #257 Jitendra Virwani ₹14,500 Cr
Embassy Developments Limited - real estate and construction in Gurugram, Haryana, India. FY 2026 financials & compliance.
Active Listed - NSE: EMBDL · BSE: 532832 Public Limited Company real estate and construction BSE 500
Market Cap
₹7,491 Cr
EMBDL · NSE
Share Price
₹53.51
+1.65% today
Revenue
₹1,732 Cr
FY 2025-26 · -20.5% YoY
EBITDA
−₹474 Cr
Margin -27.4%
Net Profit
−₹882 Cr
FY 2025-26 · -6297.5% YoY
Debt / Equity
0.52
Interest cover -105.4x
Authorised capital
₹1,434.27 Cr
Registered with MCA
Paid-up capital
₹278.13 Cr
Issued & subscribed
About Embassy Developments Limited
Data last updated:
Embassy Developments Limited is a public limited company based in Gurugram, Haryana, India. It operates in the real estate development and construction segment of the real estate and construction sector. It was incorporated on 04 April 2006 and has been in existence for over 20 years.
Embassy Developments is part of the BSE 500 index. Its director Jitendra Virwani is #257 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Haryana, under CIN L45101HR2006PLC095409. Its GSTIN is 27AABCI5194F1ZI (Maharashtra). The company holds 4 GST registrations, of which 2 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 532832 and NSE: EMBDL.
The company has an authorised share capital of ₹1,434.27 Cr and a paid-up capital of ₹278.13 Cr. It was formerly known as Indiabulls Real Estate Limited. It is led by directors including Aditya Virwani (Managing Director) and Sachin Shah (Whole-Time Director).
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Office No 01 – 1001 Wework Blue One Square Udyog Vihar Phase 4rd, Gurugram, Haryana, India – 122016.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,731.83 Cr, a decline of 20.5% compared to the previous year. For the same year it recorded a net loss of ₹881.58 Cr (net margin -50.9%) and EBITDA of -₹473.72 Cr (EBITDA margin -27.4%). The net worth stands at ₹9,867.93 Cr (up 5.9% YoY). Total assets are valued at ₹16,637 Cr (up 14.3% YoY).
The company has about 290 employees on its provident fund (EPFO) records. Its group structure includes 99 subsidiaries.
The company is associated with 4 brands: Embassy Grove, Embassy Group, Equinox India Developments and Indiabulls Group. As per MCA filings, the company has open charges of ₹7,263.2 Cr and satisfied charges of ₹7,860.61 Cr on record. Court records list 12 cases involving the company, including 5 filed by the company and 7 filed against it; 8 cases are pending. The company has 241 deals on record (185 market trades, 30 secondary share transfers, 23 funding rounds), with disclosed funding of ₹7,653.68 Cr; the latest was in October 2025.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indiabulls.com.
Company details
CIN L45101HR2006PLC095409
Registration Number 095409
Incorporation Date 04 April 2006
ROC Haryana
Listing Status Listed - Listed on NSE (EMBDL); Listed on BSE (532832)
Company Status Active
Compliance Status Active Compliant
CIN history
Embassy Developments has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L45101HR2006PLC095409, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L45101HR2006PLC095409 | Current |
| U45101DL2006PLC148314 | Previous |
| L45101DL2006PLC148314 | Previous |
Key People
Aditya Virwani Managing Director Sachin Shah Whole-Time Director Rajesh Kaimal Whole-Time Director Recognitions & Rankings of Embassy Developments
Stock market indices
BSE 500
Contact details
Embassy Developments Limited's registered office is in Gurugram, Haryana. Its website is indiabulls.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressOffice No 01 – 1001 Wework Blue One Square Udyog Vihar Phase 4rd, Gurugram, Haryana, India – 122016
- IndustryReal Estate and Construction, Real Estate Builders & Developers
To see the full contact details of Embassy Developments Limited, buy the company report.
Comprehensive company report
Embassy Developments Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Embassy Developments operates multiple associated brands including Embassy Grove, Embassy Group, and Equinox India Developments. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Real estate projects including apartments, villas, and offices are developed. | embassyindia.com | |
| Residential and commercial properties are developed in India. | equinoxindia.com | |
| conglomerate | indiabulls.com | |
| Luxury real estate development specializing in villaments in Bengaluru. | embassygrove.com |
Business activity
The main business activity of Embassy Developments is professional, scientific and technical. In detail, this covers management consultancy activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M3 | Management consultancy activities |
To see the full business activity and turnover split of Embassy Developments Limited, buy the company report.
Financials of Embassy Developments Limited
FY 2025-26 filings availableEmbassy Developments Limited reported revenue of ₹1,731.83 Cr (down 20.5% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹1,732 Cr
-20.5% YoY
EBITDA
−₹474 Cr
-449.7% YoY
Profit After Tax
−₹882 Cr
-6297.5% YoY
Net Worth
₹9,868 Cr
+5.9% YoY
Total Assets
₹16,637 Cr
+14.3% YoY
Total Debt
₹5,322 Cr
+15.5% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,732 | 2,180 | 414 | 587 | 1,445 | 1,521 | 3,271 |
| Revenue growth | -20.5% | +426.7% | -29.5% | -59.4% | -5.0% | -53.5% | - |
| EBITDA | (474) | 135 | (1,057) | (585) | (1.49) | 180 | 720 |
| EBITDA margin | -27.4% | +6.2% | -255.5% | -99.6% | -0.1% | +11.8% | +22.0% |
| Profit before tax | (897) | 27.31 | (1,023) | (563) | (26.99) | 75.20 | 378 |
| Net profit | (882) | (13.78) | (418) | (403) | (140) | 4.22 | 144 |
| Net profit margin | -50.9% | -0.6% | -101.0% | -68.6% | -9.7% | +0.3% | +4.4% |
| EPS (₹) | (6.28) | 1.63 | (19.20) | (11.24) | (3.02) | 0.10 | 2.65 |
| Balance sheet | |||||||
| Total assets | 16,637 | 14,556 | 3,250 | 4,113 | 4,936 | 4,899 | 6,494 |
| Net worth | 9,868 | 9,321 | 2,753 | 3,656 | 3,415 | 3,482 | 3,558 |
| Total debt | 5,322 | 4,607 | 307 | 268 | 1,329 | 1,223 | 2,737 |
| Cash & bank | 1,002 | 415 | 129 | 137 | 121 | 197 | 375 |
| Net working capital | 10,102 | 8,045 | 2,829 | 3,672 | 4,213 | 4,229 | 5,540 |
| Cash flow | |||||||
| Cash from operations | 44.48 | 1,461 | (97.28) | (343) | (248) | 853 | (432) |
| Cash from investing | (73.94) | 574 | 95.59 | 661 | 280 | 971 | 1,768 |
| Cash from financing | 629 | (1,971) | (8.46) | (331) | (63.81) | (1,791) | (1,890) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 292 | 217 | 342 | 213 | 494 | 681 | 889 | 325 |
| Revenue growth (YoY) | -40.8% | -68.2% | -61.5% | -34.6% | +3.9% | +39.0% | - | - |
| Other income | 18.96 | 24.53 | 68.78 | 51.62 | 43.44 | 13.13 | 294 | 3.85 |
| EBITDA | (150) | (131) | (261) | (156) | (51.41) | (10.76) | (20.18) | 94.02 |
| EBITDA margin | -51.3% | -60.3% | -76.2% | -73.5% | -10.4% | -1.6% | -2.3% | +28.9% |
| Depreciation | 13.72 | 12.98 | 12.61 | 20.02 | 8.53 | 6.71 | 5.42 | 2.80 |
| Interest | 136 | 119 | 140 | 113 | 135 | 160 | 139 | 106 |
| Profit before tax | (281) | (238) | (345) | (238) | (152) | (165) | 129 | (11.23) |
| Tax | (7.48) | 0.29 | (19.30) | (5.06) | 0.48 | 0.84 | 6.22 | 15.00 |
| Net profit | (273) | (238) | (326) | (233) | (152) | (166) | 123 | (26.23) |
| EPS (₹) | (1.95) | (1.69) | (2.33) | (1.68) | (1.12) | (1.29) | 0.90 | (0.33) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 412 | 2,107 | 1,070 | 2.78 | 0.00 | 5.96 | 363 |
| Revenue growth | -80.4% | +96.9% | - | - | -100.0% | -98.4% | - |
| EBITDA | (191) | 264 | 3.61 | (406) | (17.80) | (16.54) | (11.49) |
| EBITDA margin | -46.4% | +12.5% | +0.3% | - | - | -277.5% | -3.2% |
| Profit before tax | (296) | 52.30 | (393) | (396) | (55.26) | (139) | (50.53) |
| Net profit | (299) | 222 | (342) | (15.43) | (57.00) | (141) | (45.94) |
| Net profit margin | -72.7% | +10.5% | -32.0% | -555.0% | - | -2370.8% | -12.7% |
| EPS (₹) | (2.04) | 2.16 | (6.32) | (7.33) | (1.25) | (3.09) | (1.88) |
| Balance sheet | |||||||
| Total assets | 13,312 | 12,890 | 3,472 | 6,888 | 6,854 | 6,845 | 8,745 |
| Net worth | 11,300 | 10,171 | (734) | 6,740 | 6,338 | 6,322 | 6,449 |
| Total debt | 1,978 | 2,696 | 4,199 | 148 | 516 | 523 | 2,296 |
| Cash & bank | 314 | 110 | 78.75 | 67.20 | 18.26 | 60.49 | 256 |
| Net working capital | 1,855 | (379) | 77.21 | 3,667 | 2,901 | 2,982 | 4,709 |
| Cash flow | |||||||
| Cash from operations | (178) | 580 | 70.39 | 16.69 | 5.54 | (12.79) | 111 |
| Cash from investing | 34.41 | 858 | (337) | (455) | 47.36 | 1,946 | 1,897 |
| Cash from financing | 352 | (1,413) | 189 | 438 | (47.49) | (1,941) | (2,020) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 73.69 | 12.95 | 95.81 | 40.52 | 165 | 119 | 589 | 295 |
| Revenue growth (YoY) | -55.5% | -89.1% | -83.7% | -86.3% | -59.3% | -85.6% | - | - |
| Other income | 16.30 | 14.17 | 44.69 | 9.67 | 48.58 | 6.79 | 12.63 | 3.80 |
| Total expenses | 104 | 86.41 | 176 | 106 | 192 | 132 | 560 | 233 |
| EBITDA | (30.37) | (73.46) | (80.23) | (65.32) | (26.39) | (13.38) | 28.72 | 62.29 |
| EBITDA margin | -41.2% | -567.3% | -83.7% | -161.2% | -15.9% | -11.3% | +4.9% | +21.1% |
| Depreciation | 8.01 | 7.85 | 7.06 | 11.04 | 7.43 | 5.60 | 4.65 | 2.81 |
| Interest | 42.62 | 22.43 | 40.40 | 14.33 | 56.31 | 78.17 | 86.85 | 58.92 |
| Profit before tax | (64.70) | (89.57) | (83.00) | (81.02) | (41.55) | (90.36) | (50.15) | 4.36 |
| Tax | (0.89) | 0.72 | (3.18) | (7.06) | (1.08) | (1.57) | (2.86) | 1.48 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 12 Nov 2026
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 292 | 217 | 342 | 213 | 494 | 681 | 889 | 325 |
| Revenue growth (YoY) | -40.8% | -68.2% | -61.5% | -34.6% | +3.9% | +39.0% | - | - |
| Other income | 18.96 | 24.53 | 68.78 | 51.62 | 43.44 | 13.13 | 294 | 3.85 |
| EBITDA | (150) | (131) | (261) | (156) | (51.41) | (10.76) | (20.18) | 94.02 |
| EBITDA margin | -51.3% | -60.3% | -76.2% | -73.5% | -10.4% | -1.6% | -2.3% | +28.9% |
| Depreciation | 13.72 | 12.98 | 12.61 | 20.02 | 8.53 | 6.71 | 5.42 | 2.80 |
| Interest | 136 | 119 | 140 | 113 | 135 | 160 | 139 | 106 |
| Profit before tax | (281) | (238) | (345) | (238) | (152) | (165) | 129 | (11.23) |
| Tax | (7.48) | 0.29 | (19.30) | (5.06) | 0.48 | 0.84 | 6.22 | 15.00 |
| Net profit | (273) | (238) | (326) | (233) | (152) | (166) | 123 | (26.23) |
| EPS (₹) | (1.95) | (1.69) | (2.33) | (1.68) | (1.12) | (1.29) | 0.90 | (0.33) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,732 | 2,180 | 414 | 587 | 1,445 | 1,521 | 3,271 |
| Revenue growth | -20.5% | +426.7% | -29.5% | -59.4% | -5.0% | -53.5% | - |
| Other income | 174 | 367 | 54.95 | 61.70 | 96.59 | 141 | 170 |
| Total expenses | 2,206 | 2,044 | 1,471 | 1,171 | 1,446 | 1,342 | 2,551 |
| Employee cost | 263 | 107 | 73.19 | 105 | 77.14 | 52.07 | 114 |
| EBITDA | (474) | 135 | (1,057) | (585) | (1.49) | 180 | 720 |
| EBITDA margin | -27.4% | +6.2% | -255.5% | -99.6% | -0.1% | +11.8% | +22.0% |
| Depreciation | 47.87 | 14.76 | 11.32 | 12.13 | 12.15 | 17.25 | 30.76 |
| Interest | 550 | 461 | 9.24 | 27.64 | 110 | 228 | 481 |
| Profit before tax | (897) | 27.31 | (1,023) | (563) | (26.99) | 75.20 | 378 |
| Tax | (23.04) | (176) | 15.56 | 44.92 | 110 | 70.47 | 257 |
| Net profit | (882) | (13.78) | (418) | (403) | (140) | 4.22 | 144 |
| Net profit margin | -50.9% | -0.6% | -101.0% | -68.6% | -9.7% | +0.3% | +4.4% |
| EPS (₹) | (6.28) | 1.63 | (19.20) | (11.24) | (3.02) | 0.10 | 2.65 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 278 | 244 | 533 | 533 | 90.60 | 90.31 | 90.93 |
| Reserves & surplus | 9,590 | 8,476 | 2,220 | 3,122 | 2,899 | 2,967 | 3,042 |
| Shareholders' funds (net worth) | 9,868 | 9,321 | 2,753 | 3,656 | 3,415 | 3,482 | 3,558 |
| Minority interest | 96.06 | 5.56 | 11.99 | 11.69 | 10.91 | 11.46 | 11.05 |
| Secured loans | 3,209 | 2,910 | 267 | 256 | 1,310 | 1,223 | 2,699 |
| Unsecured loans | 2,113 | 1,697 | 39.13 | 12.49 | 19.17 | 0.70 | 37.90 |
| Total debt | 5,322 | 4,607 | 307 | 268 | 1,329 | 1,223 | 2,737 |
| Total liabilities | 16,637 | 14,556 | 3,250 | 4,113 | 4,936 | 4,899 | 6,494 |
| Assets | |||||||
| Gross block | 6,329 | 6,185 | 155 | 181 | 196 | 187 | 231 |
| Net block | 6,188 | 6,089 | 72.21 | 82.83 | 96.46 | 85.97 | 135 |
| Capital work in progress | 0.70 | 9.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 165 | 97.70 | 158 | 157 | 269 | 145 | 132 |
| Inventories | 12,433 | 12,051 | 4,850 | 4,902 | 5,521 | 6,186 | 7,056 |
| Sundry debtors | 22.84 | 51.54 | 62.93 | 76.02 | 273 | 300 | 80.15 |
| Cash & bank balances | 1,002 | 415 | 129 | 137 | 121 | 197 | 375 |
| Loans & advances | 663 | 546 | 451 | 1,030 | 1,113 | 1,403 | 2,821 |
| Total current assets | 14,121 | 13,064 | 5,493 | 6,146 | 7,028 | 8,086 | 10,333 |
| Total current liabilities | 4,019 | 5,019 | 2,664 | 2,474 | 2,814 | 3,858 | 4,793 |
| Net working capital | 10,102 | 8,045 | 2,829 | 3,672 | 4,213 | 4,229 | 5,540 |
| Total assets | 16,637 | 14,556 | 3,250 | 4,113 | 4,936 | 4,899 | 6,494 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 179 | 115 | 36.74 | 50.00 | 81.16 | 48.17 | 603 |
| Net cash from operating activities | 44.48 | 1,461 | (97.28) | (343) | (248) | 853 | (432) |
| Net cash from investing activities | (73.94) | 574 | 95.59 | 661 | 280 | 971 | 1,768 |
| Net cash from financing activities | 629 | (1,971) | (8.46) | (331) | (63.81) | (1,791) | (1,890) |
| Net change in cash | 600 | 63.72 | (10.15) | (13.26) | (31.16) | 32.99 | (555) |
| Closing cash | 1,002 | 415 | 129 | 137 | 121 | 197 | 375 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -20.5% | +426.7% | -29.5% | -59.4% | -5.0% | -53.5% | - |
| EBITDA growth | -449.7% | +112.8% | -80.8% | - | -100.8% | -75.0% | - |
| PBT growth | - | +9998.0% | -81.8% | -1984.7% | - | -80.1% | -55.2% |
| Net income growth | -6297.5% | +96.7% | -3.8% | -187.3% | -3420.4% | -97.1% | - |
| Revenue CAGR (3Y) | +43.4% | +14.7% | -35.2% | -43.6% | -33.6% | -30.4% | +12.1% |
| EBITDA CAGR (3Y) | -6.8% | - | - | - | - | -62.1% | +3.7% |
| Profitability & leverage | |||||||
| Net income margin | -50.5% | +9.3% | -250.9% | -103.6% | -9.5% | +0.3% | +3.7% |
| Return on capital employed | 0.0% | +3.1% | 0.0% | 0.0% | 0.0% | +3.4% | +7.9% |
| Return on net worth | 0.0% | -0.1% | 0.0% | 0.0% | 0.0% | +0.1% | +2.2% |
| Debt / equity | 0.52 | 0.41 | 0.09 | 0.23 | 0.37 | 0.56 | 1.15 |
| Long-term debt / equity | 0.27 | 0.18 | 0.07 | 0.07 | 0.11 | 0.20 | 0.58 |
| Interest cover | -105.36 | 381.85 | -0.86 | -4.63 | -806.01 | 140.28 | 69.84 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.28 | 0.69 | 2.46 | 3.11 | 7.55 | 7.28 | 13.16 |
| Inventory turnover | 0.14 | 0.26 | 0.08 | 0.11 | 0.25 | 0.23 | 0.39 |
| Debtors turnover | 46.57 | 38.08 | 5.96 | 3.36 | 5.04 | 8.00 | 18.70 |
| EPS (₹) | (6.28) | 1.63 | (19.20) | (11.24) | (3.02) | 0.10 | 2.65 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 70.99 | 71.36 | 43.03 | 59.71 | 66.00 | 67.71 | 68.91 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 73.69 | 12.95 | 95.81 | 40.52 | 165 | 119 | 589 | 295 |
| Revenue growth (YoY) | -55.5% | -89.1% | -83.7% | -86.3% | -59.3% | -85.6% | - | - |
| Other income | 16.30 | 14.17 | 44.69 | 9.67 | 48.58 | 6.79 | 12.63 | 3.80 |
| Total expenses | 104 | 86.41 | 176 | 106 | 192 | 132 | 560 | 233 |
| EBITDA | (30.37) | (73.46) | (80.23) | (65.32) | (26.39) | (13.38) | 28.72 | 62.29 |
| EBITDA margin | -41.2% | -567.3% | -83.7% | -161.2% | -15.9% | -11.3% | +4.9% | +21.1% |
| Depreciation | 8.01 | 7.85 | 7.06 | 11.04 | 7.43 | 5.60 | 4.65 | 2.81 |
| Interest | 42.62 | 22.43 | 40.40 | 14.33 | 56.31 | 78.17 | 86.85 | 58.92 |
| Profit before tax | (64.70) | (89.57) | (83.00) | (81.02) | (41.55) | (90.36) | (50.15) | 4.36 |
| Tax | (0.89) | 0.72 | (3.18) | (7.06) | (1.08) | (1.57) | (2.86) | 1.48 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 412 | 2,107 | 1,070 | 2.78 | 0.00 | 5.96 | 363 |
| Revenue growth | -80.4% | +96.9% | - | - | -100.0% | -98.4% | - |
| Other income | 116 | 89.76 | 17.37 | 38.98 | 10.48 | 41.22 | 272 |
| Total expenses | 603 | 1,843 | 1,067 | 409 | 17.80 | 22.50 | 374 |
| Employee cost | 150 | 90.43 | 54.32 | 14.77 | 6.98 | 2.45 | 2.08 |
| EBITDA | (191) | 264 | 3.61 | (406) | (17.80) | (16.54) | (11.49) |
| EBITDA margin | -46.4% | +12.5% | +0.3% | - | - | -277.5% | -3.2% |
| Depreciation | 31.14 | 13.99 | 6.55 | 2.22 | 1.87 | 3.88 | 9.61 |
| Interest | 189 | 288 | 407 | 27.26 | 46.07 | 160 | 302 |
| Profit before tax | (296) | 52.30 | (393) | (396) | (55.26) | (139) | (50.53) |
| Tax | (12.88) | (212) | (51.02) | 0.51 | 1.15 | 0.36 | 34.82 |
| Net profit | (299) | 222 | (342) | (15.43) | (57.00) | (141) | (45.94) |
| Net profit margin | -72.7% | +10.5% | -32.0% | -555.0% | - | -2370.8% | -12.7% |
| EPS (₹) | (2.04) | 2.16 | (6.32) | (7.33) | (1.25) | (3.09) | (1.88) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 278 | 244 | 108 | 108 | 90.60 | 90.31 | 90.93 |
| Reserves & surplus | 11,022 | 9,325 | (842) | 6,632 | 6,247 | 6,232 | 6,358 |
| Shareholders' funds (net worth) | 11,300 | 10,171 | (734) | 6,740 | 6,338 | 6,322 | 6,449 |
| Secured loans | 519 | 1,555 | 1,282 | 0.00 | 375 | 393 | 2,160 |
| Unsecured loans | 1,459 | 1,141 | 2,917 | 148 | 141 | 129 | 136 |
| Total debt | 1,978 | 2,696 | 4,199 | 148 | 516 | 523 | 2,296 |
| Total liabilities | 13,312 | 12,890 | 3,472 | 6,888 | 6,854 | 6,845 | 8,745 |
| Assets | |||||||
| Gross block | 2,142 | 2,119 | 192 | 8.95 | 23.47 | 20.35 | 49.99 |
| Net block | 2,062 | 2,069 | 160 | 3.57 | 5.39 | 1.39 | 20.14 |
| Capital work in progress | 0.00 | 9.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 9,597 | 11,070 | 3,691 | 3,201 | 3,854 | 3,793 | 3,838 |
| Inventories | 795 | 712 | 1,694 | 0.90 | 0.90 | 0.90 | 0.90 |
| Sundry debtors | 6.14 | 13.10 | 271 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash & bank balances | 314 | 110 | 78.75 | 67.20 | 18.26 | 60.49 | 256 |
| Loans & advances | 3,086 | 1,546 | 1,303 | 3,603 | 2,906 | 2,938 | 4,558 |
| Total current assets | 4,201 | 2,381 | 3,347 | 3,671 | 2,925 | 2,999 | 4,816 |
| Total current liabilities | 2,346 | 2,759 | 3,270 | 3.44 | 24.18 | 17.76 | 107 |
| Net working capital | 1,855 | (379) | 77.21 | 3,667 | 2,901 | 2,982 | 4,709 |
| Total assets | 13,312 | 12,890 | 3,472 | 6,888 | 6,854 | 6,845 | 8,745 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 104 | 78.75 | 156 | 11.87 | 6.46 | 14.81 | 26.49 |
| Net cash from operating activities | (178) | 580 | 70.39 | 16.69 | 5.54 | (12.79) | 111 |
| Net cash from investing activities | 34.41 | 858 | (337) | (455) | 47.36 | 1,946 | 1,897 |
| Net cash from financing activities | 352 | (1,413) | 189 | 438 | (47.49) | (1,941) | (2,020) |
| Net change in cash | 209 | 25.01 | (77.08) | (1.09) | 5.41 | (8.35) | (11.68) |
| Closing cash | 314 | 110 | 78.75 | 67.20 | 18.26 | 60.49 | 256 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -80.4% | +96.9% | - | - | -100.0% | -98.4% | - |
| EBITDA growth | -172.3% | +7218.0% | +100.9% | -2179.4% | -7.6% | -44.0% | - |
| PBT growth | - | +9998.0% | +0.8% | -617.0% | +60.3% | -175.6% | - |
| Net income growth | -235.2% | +164.7% | -2119.4% | +72.9% | +59.7% | -207.6% | - |
| Revenue CAGR (3Y) | +429.3% | - | +464.2% | -80.3% | -100.0% | -58.3% | +137.2% |
| EBITDA CAGR (3Y) | -22.2% | - | - | +228.1% | - | - | -11.7% |
| Profitability & leverage | |||||||
| Net income margin | -68.7% | +12.5% | -31.9% | - | - | -2342.6% | -23.5% |
| Return on capital employed | 0.0% | +3.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | 0.0% | +4.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 0.22 | 0.73 | 0.72 | 0.05 | 0.08 | 0.22 | 0.49 |
| Long-term debt / equity | 0.10 | 0.48 | 0.52 | 0.00 | 0.02 | 0.05 | 0.20 |
| Interest cover | -85.16 | 114.97 | -13,854.42 | -6.68 | -234.21 | -783.84 | -1,429.38 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.19 | 1.82 | 10.64 | 0.17 | 0.00 | 0.17 | 9.70 |
| Inventory turnover | 0.55 | 1.75 | 1.26 | 3.09 | 0.00 | 6.62 | 10.05 |
| Debtors turnover | 42.85 | 14.81 | 7.89 | 0.00 | 0.00 | 0.00 | 123.21 |
| EPS (₹) | (2.04) | 2.16 | (6.32) | (7.33) | (1.25) | (3.09) | (1.88) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 81.30 | 78.32 | (13.56) | 124.57 | 139.90 | 140.01 | 141.85 |
To see the full year-wise statements and ratios of Embassy Developments Limited, buy the company report.
Board of directors of Embassy Developments Limited
Embassy Developments has 8 current directors and 28 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kulumani Gopalratnam Krishnamurthy Also directs: Puravankara Limited, Shriram Properties Limited, MMK Toll Road Private Limited and 3 more | Director | 09 Nov 2021 | 5 Years 0 Months | Current |
| Jitendra Mohandas Virwani | Director | 25 Jan 2025 | 1 Years 9 Months | Current |
| Shyamm Mariwala | Director | 01 Mar 2023 | 3 Years 8 Months | Current |
| Sachin Shah Also directs: GRS Consultants LLP | Whole-Time Director | 27 Feb 2023 | 3 Years 8 Months | Current |
| Tarana Lalwani Also directs: Innoven Triple Blue Capital Advisors LLP, Innoven Triple Blue Capital Services LLP, Innoven Triple Blue Ventures LLP and 4 more | Director | 01 Mar 2023 | 3 Years 8 Months | Current |
| Javed Tapia | Director | 27 Feb 2023 | 3 Years 8 Months | Current |
Showing 6 of 8 current directors. View all directors
Auditor
Embassy Developments Limited is audited by Agarwal Prakash & Co for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Agarwal Prakash & Co | FY 2025 | 005975N |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 42.60%, foreign institutional investors hold 23.40%, domestic institutional investors hold 3.00% and retail and other public shareholders hold 31.00%.
Sep 2026
QUARTER
42.60% Promoters
3.00% DII (Domestic Institutional)
23.40% FII (Foreign Institutional)
31.00% Retail & Others
Promoter holding - history
Now 42.60% · Sep 2026High 42.70% · Dec 2025Low 42.60% · Mar 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 42.60% | 42.60% | 42.60% | 42.70% |
| Public | 57.40% | 57.40% | 57.40% | 57.30% |
Charges & borrowings
Open charges
₹7,263.2 Cr
Satisfied charges
₹7,860.61 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 01 Jul 2026 | 101326832 | Others | ₹150 Cr | Open | |
| 28 May 2026 | 101312996 | Idbi Trusteeship Services Limited | ₹300 Cr | Open | |
| 24 Apr 2026 | 101290347 | Others | ₹2.47 Cr | Open | |
| 13 Apr 2026 | 101278526 | Others | ₹80 Cr | Open | |
| 02 Apr 2026 | 101289997 | Others | ₹400 Cr | Open |
To see the full charge records of Embassy Developments Limited, buy the company report.
Total charge records: 63 View all charges
Deals & funding
Embassy Developments Limited has 241 deals on record (185 market trades, 30 secondary share transfers, 23 funding rounds), with disclosed funding of ₹7,653.68 Cr; the latest was in October 2025.
Total deals
241
Market trades
185
Secondary share transfers
30
Funding rounds
23
QIPs
2
Disclosed funding
₹7,653.68 Cr
Deals on record (5 of 241)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2025 | Funding round | ₹216.38 Cr | Investors: Bellanza Developers Private Limited , Chanakya Corporate Services Private Limited , Sankhya Financial Services Private Limited |
| Aug 2025 | Funding round | ₹60 Cr | Investors: Bellanza Developers Private Limited |
| Jun 2025 | Funding round | ₹185 Cr | Investors: Micro Labs Limited |
| May 2025 | Funding round | ₹1,413.06 Cr | Investors: NCL SG Holdings Pte Limited, Bellanza Developers Private Limited |
| Mar 2025 | Funding round | ₹446.67 Cr | Investors: Bellanza Developers Private Limited |
To see the full deal history of Embassy Developments Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Embassy Developments Limited has 12 court cases on record: 5 filed by Embassy Developments, 7 filed against it. 8 cases are pending and 4 are disposed.
Total cases
12
Filed by the company
5
Filed against the company
7
Pending
8
Disposed
4
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 8 | 5 | 5 |
| District courts | 2 | 1 | 2 |
| Supreme Court | 1 | 1 | 1 |
| NCLAT | 1 | 0 | 0 |
Cases on record (5 of 12)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed by the company against Udhyaman Investments Pvt. Ltd. and 1 other | Pending |
| Supreme Court | Appeal | Filed against the company by Canara Bank (E-Syndicate Bank) | Pending |
| Bombay High Court | Writ petition | Filed against the company by an individual | Pending |
| Bombay High Court | Tax appeal | Filed against the company by PR Commissioner of Income Tax Central 3 | Pending |
| District court, BENGALURU, Karnataka | Civil suit | Filed by the company against Sammys Dremland Company Private Limited | Pending |
To see the full case history of Embassy Developments Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Embassy Developments Limited was last rated by Care on 02 Mar 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 02 Mar 2022 |
To see the full credit ratings and regulatory alerts of Embassy Developments Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Embassy Developments Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Embassy Developments has 99 subsidiary companies. This group structure data is as of FY 2022. The table lists each entity with its relationship and holding.
99
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Indiabulls Industrial Infrastructure Limited | U45200DL2006PLC154693 | |
| Manjola Infrastructure Limited | U45200DL2007PLC157424 | |
| Indiabulls Commercial Properties Limited | U45200MH2007PLC309317 | |
| Indiabulls Estate Limited | U45201DL2005PLC139676 | |
| Ib Assets Limited | U45201DL2006PLC146528 | |
| Indiabulls Land Holdings Limited | U45201MH2005PLC303676 |
To see the full group structure of Embassy Developments Limited, buy the company report.
Employees & EPFO
Embassy Developments Limited has a workforce of 290 employees on its EPFO records as of May 2026, across 1 active EPFO establishment.
Employee count
290
Active EPFO establishments
1
Employee growth
34.3%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 290 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 | |
| FY 2015-16 | |
| FY 2014-15 |
To see the full employee and EPFO history of Embassy Developments Limited, buy the company report.
GST
Embassy Developments has 4 GST registrations: 2 active and 2 cancelled or inactive.
Total GSTINs
4
Active
2
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCI5194F1ZI | Maharashtra | Active | 01 Jul 2017 |
| 07AABCI5194F2ZJ | Delhi | Active | 07 Sep 2017 |
To see the full GST registrations and return filing status of Embassy Developments Limited, buy the company report.
Recent activity
Embassy Developments Limited has 63 board changes on record since 2006: 36 appointments and 27 cessations. The latest: Praveen Kumar Tripathi ceased to be Director on 30 Mar 2025.
Charges
A charge with Others amounted to Rs. 150.00 Cr with Charge ID 101326832 was registered on 01 Jul 2026.
Charges
A charge with Others of Rs. 400.00 Cr registered on 02 Apr 2026 with Charge ID 101289997 was modified on 13 Jun 2026.
Charges
A charge with Others of Rs. 2.47 Cr registered on 24 Apr 2026 with Charge ID 101290347 was modified on 10 Jun 2026.
Charges
A charge with Others of Rs. 10.94 Cr registered on 18 Feb 2022 with Charge ID 100548465 was modified on 29 May 2026.
Charges
A charge with Idbi Trusteeship Services Limited amounted to Rs. 300.00 Cr with Charge ID 101312996 was registered on 28 May 2026.
Charges
A charge with Hdfc Bank Limited of Rs. 1,210.00 Cr registered on 29 Jul 2021 with Charge ID 100467010 was modified on 18 May 2026.
Charges
A charge with Hdfc Bank Limited of Rs. 535.00 Cr registered on 29 Jul 2021 with Charge ID 100467115 was modified on 18 May 2026.
Charges
A charge with Others of Rs. 920.00 Cr registered on 12 Mar 2026 with Charge ID 101250425 was modified on 27 Apr 2026.
Charges
A charge with Others amounted to Rs. 2.47 Cr with Charge ID 101290347 was registered on 24 Apr 2026.
Charges
A charge with Others amounted to Rs. 80.00 Cr with Charge ID 101278526 was registered on 13 Apr 2026.
Charges
A charge with Others amounted to Rs. 400.00 Cr with Charge ID 101289997 was registered on 02 Apr 2026.
Filing
Embassy Developments Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Haryana.
179 earlier events are in the company report.
News
Real Estate Sales Forecasted To Increase By 12-15% Before Diwali, As Embassy Developments And Rustomjee Report Record Sales For Q2FY27, And Mumbai Sees A 9% Rise In October Registrations YoY
EMBDL: Q2 REVENUE 2.9B RUPEES VS 4.9B (YOY)
EMBDL: Q2 CONS NET LOSS 2.7B RUPEES VS LOSS 1.5B (YOY)
Embassy Developments: Announces Leadership Changes; Mr. Sachin Shah Resigns As CEO Effective December 31, 2026, While Mr. Aditya Virwani Becomes Managing Director And CEO Starting January 1, 2027.
Embassy Developments Limited: Reports ₹3,225 Crore In Q2 FY27 Pre-Sales, Up 272% From Previous Quarter; H1 FY27 Pre-Sales Total ₹4,093 Crore, Achieving 51% Of FY27 Target; Q2 FY27 Collections Reach ₹546 Crore, An Increase Of 10% From Prior Quarter; Launched 3 Projects Valued At ₹7,500 Crore.
From our blog
Frequently asked questions
Embassy Developments is an active public limited company based in Gurugram, Haryana, India. The company works in real estate builders and developers, within the real estate and construction industry. It was incorporated on 04 April 2006 (20+ years old) and is registered under CIN L45101HR2006PLC095409. Listed on BSE: 532832 and NSE: EMBDL.
Embassy Developments reported revenue of ₹1,731.83 Cr for FY 2025-26 (down 20.5% YoY) based on consolidated financials.
Embassy Developments has 8 current directors:
- Aditya Virwani - Managing Director
- Sachin Shah - Whole-Time Director
- Rajesh Kaimal - Whole-Time Director
- Kulumani Gopalratnam Krishnamurthy - Director
- Jitendra Mohandas Virwani - Director
- Shyamm Mariwala - Director
- Tarana Lalwani - Director
- Javed Tapia - Director
The latest financial statements of Embassy Developments on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Embassy Developments is 27AABCI5194F1ZI, registered in Maharashtra. The company has 4 GST registrations in all, of which 2 are active and 2 are cancelled or inactive. Other active GSTINs include 07AABCI5194F2ZJ (Delhi).
The CIN (Corporate Identification Number) of Embassy Developments is L45101HR2006PLC095409. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Embassy Developments is a listed company as per MCA records. Its shares are listed on both BSE (code: 532832) and NSE (symbol: EMBDL).
Embassy Developments has 12 court cases on record: 5 filed by the company and 7 filed against it. 8 are pending. Most are in the high courts.
Embassy Developments was incorporated on 04 April 2006, making it 20+ years old. It is registered with the Registrar of Companies, Haryana.
Embassy Developments has 241 deals on record (185 market trades, 30 secondary share transfers, 23 funding rounds), with disclosed funding of ₹7,653.68 Cr; the latest was in October 2025.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
Swiggy Limited Listed company · 92 pages
BharatPe (Resilient Innovations Pvt Ltd) Unlisted company · 78 pages