Embassy Developments' Posts Rs 203 Crore Profit in FY25
By Ankur Chandra | Updated at: May 31, 2025 10:43 PM IST
Embassy Developments Limited, formerly known as Indiabulls Real Estate Ltd., has announced a strong turnaround in its consolidated financial performance for FY2025, marking the first annual results following the merger with NAM Estates Pvt Ltd. The company has also set an ambitious Gross Development Value (GDV) target of ₹22,000 crore for FY2026 and aims for ₹5,000 crore in residential pre-sales.
Key Financial Highlights (FY2025)
| Metric | FY25 | FY24 (Restated)* | YoY Change |
|---|---|---|---|
| Revenue | ₹2,547 crore | ₹1,218 crore | ↑ 100%+ |
| EBITDA | ₹531 crore | ₹36 crore | ↑ 100%+ |
| PAT | ₹203 crore | Loss of ₹485 crore | Turnaround |
| Q4FY25 Revenue | ₹1,183 crore | ₹402 crore (Q4FY24) | ↑ 100%+ |
| Q4FY25 PAT | ₹123 crore | Loss of ₹90 crore | Turnaround |
| Gross Debt | ₹2,756 crore | ||
| Net Debt | ₹2,273 crore | ||
| Debt-to-Equity Ratio | 0.3x | ||
| Cash & Equivalents | ₹483 crore |
*Note: FY24 results represent NAM Estates figures only and are not comparable due to reverse merger accounting.
Operational Highlights
- Pre-sales: ₹2,000 crore, up 11% YoY
- New bookings: 2.2 million sq ft (↑14% YoY)
- Collections: ₹1,900 crore
- New project launches: 3 residential projects launched with topline of ₹1,700 crore; 71% sold
- New land acquisitions: 6 projects with GDV of ₹9,200 crore and ~5.0 msf saleable area
- Land monetization: 19 acres in MMR monetized for ₹18 crore
FY2026 Outlook
- Project launches: 10 projects with GDV > ₹22,000 crore
- Residential GDV target: ₹18,600 crore
- Commercial GDV target: ₹3,500 crore
- Pre-sales target: ₹5,000 crore (↑150% YoY)
- Expected collections: ₹2,200 crore
The company has also proposed a marquee commercial real estate development in Whitefield, Bengaluru, to Embassy Office Parks REIT. This ~3.3 msf project has an expected GDV of ₹3,200 to ₹3,700 crore. Additionally, a significant ₹1,125 crore transaction was executed with a global semiconductor equipment manufacturer for the sub-lease and divestment of 25 acres in Whitefield.
Management Commentary
Aditya Virwani, Managing Director, stated: “As we close out our first-ever quarter as a newly merged entity, we are excited to demonstrate how the same strategies that have powered our commercial success are now propelling us within the residential sector. Our GDV blueprint and strong land bank reflect our ambition to become a pan-India real estate powerhouse.”
Corporate Developments
- New promoter: Embassy Group with a 42.96% stake following NCLAT merger approval
- Leadership: Mr. Jitendra Virwani appointed Chairman; Aditya Virwani as Managing Director
- Focus geographies: Bengaluru, MMR, NCR, Chennai
About Embassy Developments
Embassy Developments Ltd is one of India’s leading real estate developers with a portfolio spanning residential, commercial, and SEZ projects. The company is listed on BSE and NSE and holds a long-term debt rating of IVR A- (Stable) from Infomerics. It has a strong presence in Bengaluru, MMR, NCR, Chennai, and other tier-2 cities, offering diversified residential options across mid-income to luxury segments.
With robust fundamentals, strong leadership, and aggressive FY26 targets, Embassy Developments is well-positioned to capitalize on the ongoing momentum in India’s real estate market.
Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.
REF: https://nsearchives.nseindia.com/corporate/IBREL_29052025210451_EMBDL_PressRelease_29052025.pdf
