The call ran from 11:02 AM to 11:59 AM IST (57 min).
Key takeaways
Embassy reports record-high pre-sales and luxury launches, though project completion accounting hides operational momentum behind a net loss.
| Revenue growth | Reported revenue ₹292 Cr, down YoY due to project completion accounting. |
|---|---|
| Margins | Targeting 53% project margins on overall surplus of ₹30,000 Cr. |
| Order book | Ongoing portfolio GDV exceeds ₹27,422 Cr; 55% of area already sold. |
| Demand visibility | Strong luxury demand; record ₹711 Cr single-unit sale in Juhu, Mumbai. |
| Management confidence | Highly optimistic on luxury brand strength despite CEO succession announcement. |
Growth
Pre-sales surged to ₹3,225 Cr (Q2); H1 pre-sales reached ₹4,093 Cr, up 574% YoY.
Outlook
Management guides ₹8,000 Cr pre-sales and ₹3,000 Cr collections for full year FY27.
Risks
High net institutional debt of ₹3,982 Cr; net loss of ₹271 Cr due to accounting timing.
Last quarter's promises, checked
Delivered
- Guided Juhu DM launch in Q2 → Embassy Terrazza launched (= BEAT)
Partly delivered
- Guided FY27 presales ₹8,000 Cr → H1 ₹4,093 Cr, 51% of target, FY open (= PARTIAL)
- Guided ~₹3,000 Cr FY27 collections → Q1 ₹496 Cr, Q2 not disclosed, FY open (= PARTIAL)
- Guided 4 Q2 launches incl. North tower and Knowledge Park → only Terrazza confirmed; Riverine and South Reserve launched unnamed (= PARTIAL)
Missed
- Guided net D/E 0.30-0.35x → 0.42x post warrant conversion (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Embassy Developments Q2 FY27 Results: Net Loss of ₹271.2 Cr, Loss Widens
Embassy Developments Ltd reported revenue from operations of ₹292.2 Cr (-40.9% YoY) and a net loss of ₹271.2 Cr for Q2 FY27.
- Key figure
- Net loss ₹271.2 Cr
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting 5,000 Cr presales for FY26 and 41,000 Cr GDV launches over next three years.
Growth they described
Q3 presales reached 1,392 Cr, up 240% QoQ, but earnings are masked by legacy Indiabulls project costs.
Call details
| Company | Embassy Developments Ltd |
|---|---|
| NSE symbol | EMBDL |
| ISIN | INE069I01010 |
| Call | Q2 FY27 earnings call |
| Date | Wednesday, 4 November 2026 |
| Time | 11:00 AM IST |
| Length | 57 min |
| Audio | Our stream on YouTube ↗ |
Embassy Developments Ltd: key numbers
- Share price
- ₹52.00
- Market cap
- ₹7,400 Cr
- Revenue (annual)
- ₹1,732 Cr
- Net profit (annual)
- ₹-872.6 Cr
- P/E (TTM)
- -7.0×Sector 35.3×
- Promoter holding
- 42.68%+0.03% QoQ
- FII holding
- 24.00%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
Other calls on Wed, 4 Nov
Today's concalls →
