Embassy Developments Ltd has started FY27 on a strong note, with pre-sales in the first quarter surging 338% year-on-year to approximately ₹868 crore, backed by sustained demand for its residential projects.
Collections during Q1 FY27 grew 54% to approximately ₹496 crore, according to Aditya Virwani, Managing Director & Promoter, Embassy Developments.
“We have started FY27 with good momentum. Pre-sales for Q1 FY27 stood at approximately ₹868 crore, an increase of 338% over the same period last year, while collections grew 54% to approximately ₹496 crore. The quarter reflects continued demand for our projects and disciplined execution across the business,” Virwani said in an investor update.
Bengaluru drives demand
Bengaluru continued to be the key market for the company, with approximately 72% of launched inventory sold within six months.
Of the 4.3 million sq. ft. launched during FY26, nearly 59% had already been sold as of June 30, 2026, indicating continued demand across Embassy Developments’ portfolio.
The company said execution also remained on track during the quarter.
One 09 in Gurugram received its Occupancy Certificate during Q1, taking the project closer to handing over homes to customers in the National Capital Region.
At Golfcity, Savroli, five towers also received Occupancy Certificates, reflecting continued progress across the company’s projects.
Balance sheet strengthens
Embassy Developments’ balance sheet continued to strengthen during the quarter.
Net institutional debt stood at approximately ₹3,363 crore as of June 30, 2026, while cash and cash equivalents were approximately ₹1,202 crore. The company said its leverage remains comfortably within its stated guidance.
The Board has also approved a preferential allotment of convertible warrants to Embassy Group at ₹111.51 per share, subject to shareholder approval.
The proceeds from the proposed allotment will be used to repay outstanding shareholder debt. The move is expected to further strengthen the company’s balance sheet and reduce its cost of capital.
Virwani said the proposed transaction represents an important step in preparing the business for its next phase of growth, while continued shareholder support reflects confidence in the company’s long-term strategy.
₹8,000-crore FY27 pre-sales target
Embassy Developments has retained its FY27 guidance of approximately ₹6,000 crore in pre-sales from owned developments and ₹2,000 crore from development management projects, taking the overall target to ₹8,000 crore.
The company has planned 11 project launches during FY27, of which four are scheduled for the second quarter.
“With the momentum we have built in the first quarter, with four projects out of our overall guidance of 11 projects in FY27 slated to launch in Q2, we remain on track to achieve our FY27 guidance of approximately ₹6,000 crore in pre-sales from owned developments and ₹2,000 crore from development management projects,” Virwani said.
Long-cycle growth strategy
Virwani said residential development is a long-cycle business, with investments in land, launches and new markets expected to progressively translate into reported earnings as projects mature through their development lifecycle.
The company said its priorities remain focused on project execution, disciplined capital allocation and delivering a consistently high-quality customer experience.
The strong start to FY27, combined with upcoming launches and continued project execution, gives the company confidence in its long-term growth trajectory.