Embassy Developments Q3 FY26 Pre-sales Surge ~240% QoQ to ₹1,392 Crore
Embassy Developments reported ~240% QoQ growth in Q3 FY26 pre-sales to ₹1,392 crore. New bookings increased ~193% QoQ to 1,192k sq. ft. 9M FY26 pre-sales reached ₹1,999 crore, up ~46% YoY. The company launched two residential projects and one commercial project with a combined GDV over ₹6,500 crore. Collections stood at ₹414 crore in Q3 FY26.
The substantial increase in pre-sales and new bookings, along with the launch of new projects with high GDV, are material events that are likely to have a significant impact on the company's financial performance and market position.
The company reported significant quarter-on-quarter growth in pre-sales and new bookings, along with successful project launches and strong collections, indicating positive business performance.
Embassy Developments Limited (EDL) announced its financial results for the third quarter ended December 31, 2025 (Q3 FY26), reporting a significant ~240% quarter-on-quarter (QoQ) growth in pre-sales, reaching approximately ₹1,392 crore compared to ₹409 crore in Q2 FY26. New bookings also saw a substantial increase of ~193% QoQ, with 1,192k sq. ft. sold compared to 407k sq. ft. in the previous quarter. For the cumulative nine months of FY26 (9M FY26), pre-sales amounted to approximately ₹1,999 crore, marking a ~46% growth over 9M FY25, with total area sold at ~1,805k sq. ft., up ~36% year-on-year (YoY).
Collections for Q3 FY26 stood at approximately ₹414 crore, a ~15% QoQ increase. Cumulative collections for 9M FY26 reached approximately ₹1,096 crore. Construction expenditure during the quarter was approximately ₹401 crore, maintaining a strong spend-to-collections ratio of ~97%. Total construction spend for 9M FY26 was approximately ₹868 crore, representing ~79% of collections.
The company launched two new residential projects in North Bengaluru: Embassy Greenshore (estimated GDV of ~₹1,600 crore, with ~₹804 crore in pre-sales) and Embassy Eden (GDV of ~₹1,800 crore). Additionally, a commercial project, Embassy East Business Park Phase I in East Bengaluru, with 2.7 msf of leasable area, was launched. These launches collectively represent an estimated Gross Development Value (GDV) exceeding ₹6,500 crore. Future launches planned for Q4 FY26 include Embassy Citadel in Worli (~₹8,800 crore GDV), Embassy Verde Phase 2 (~₹700 crore GDV), Embassy Serenity in Alibaug (~₹400 crore GDV), and the joint development project Embassy Sky Terraces (~₹2,600 crore GDV).
Embassy Developments also received the Occupancy Certificate for 239 apartments at Serene Amara, a senior living project developed in a joint venture. As of December 31, 2025, the company maintained a strong balance sheet with gross institutional debt of approximately ₹3,700 crore (0.36x D/E) and net institutional debt of approximately ₹3,000 crore (0.29x Net D/E). Cash and cash equivalents were approximately ₹670 crore. The estimated project surplus across all developments is approximately ₹28,200 crore, with a net operational cash margin of ~47.5%.
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