Embassy Developments targets ₹5,000 crore FY26 pre-sales

What the company is guiding for FY26

Embassy Developments Ltd has guided for pre-sales of ₹5,000 crore in FY26, supported by a strong housing demand environment. The company’s management said the target is anchored in a mix of new launches and sustenance sales from ongoing projects. In an interaction, CEO Sachin Shah said the company remains “cautiously optimistic” about reaching the ₹5,000 crore number by March 31. The guidance comes as the company steps up its residential pipeline in Mumbai Metropolitan Region (MMR) and continues to expand in Bengaluru. The company also indicated that it expects collections to scale up as newer projects mature. Management added that merger synergies are strengthening its presence in Mumbai and NCR.

How pre-sales progressed during FY26 so far

The company’s pre-sales trajectory in FY26 has accelerated across quarters, according to the figures shared. Embassy Developments recorded pre-sales of about ₹409 crore in Q2 FY26 and about ₹1,392 crore in Q3 FY26. This represents around 240% quarter-on-quarter growth. For 9M FY26, cumulative pre-sales reached about ₹1,999 crore, indicating about 46% growth over 9M FY25. Over the same nine-month period, total area sold stood at about 1,805k sq. ft., up about 36% year-on-year. Separately, a top company official said the company had sold properties worth about ₹2,000 crore in the first nine months of the fiscal, aligning with the 9M FY26 pre-sales number.

Q4 expectations and the role of launches

Management linked the FY26 outcome to a pipeline of launches and the spillover of sales from projects launched in prior quarters. Sachin Shah said the first half of the year was at around ₹700 crore and the company scaled that to about ₹2,000 crore by the end of Q3. The management commentary pointed to multiple launches taking place in the current quarter, along with sales from launches of the previous quarter. Another senior official, Virwani, said the company was confident of selling housing properties worth ₹3,000 crore during the current quarter. The confidence was attributed to new launches in MMR and sustenance sales in existing projects.

Mumbai Metropolitan Region: Juhu, Worli and Alibaug

Embassy Developments said it will soon launch three projects in MMR - Juhu, Worli and Alibaug. The company also stated it is set to invest over ₹4,500 crore in MMR. In another disclosure, it said it will invest ₹7,000 crore in the Mumbai market to build three new luxury housing projects and complete three ongoing projects as part of its expansion strategy. For the Worli project, the company said it will develop 316 units at Embassy Citadel with an estimated revenue of nearly ₹9,000 crore. For Juhu, it plans 50 units with an estimated revenue of ₹3,000 crore. In Alibaug, it will build 111 units with a projected revenue of ₹400 crore.

Embassy Serenity in Alibaug: the ₹400 crore launch

Sachin Shah highlighted the launch of the Alibaug project, Embassy Serenity, with a stated value of ₹400 crore. This matches the projected revenue figure the company disclosed for its Alibaug development. The Alibaug launch is part of the broader MMR push alongside the Worli and Juhu projects. The company has positioned these developments as drivers of higher sales bookings during the fiscal. Virwani also said the company expects more than ₹12,000 crore in revenue from the three new housing projects in MMR.

Bengaluru pipeline: Greenshore, Eden and a new business park

Alongside Mumbai, the company has been active in Bengaluru with both residential and commercial additions. Embassy Developments launched two residential projects - Embassy Greenshore (North Bengaluru) and Embassy Eden (North Bengaluru). It also launched a commercial project, Embassy East Business Park Phase I (East Bengaluru), with 2.7 msf of leasable area. Together, these launches represent an estimated gross development value (GDV) of over ₹6,500 crore. Embassy Greenshore alone has a GDV of about ₹1,600 crore and has already achieved pre-sales of about ₹804 crore.

What recent history says about demand

The company’s FY25 sales also reflected an improving trend, as per the figures cited. Embassy Developments clocked sales of ₹2,031 crore last fiscal compared with ₹1,838 crore in 2023-24. Management commentary linked the current momentum to strong housing demand, particularly in key urban micro-markets where the company is launching new inventory. The company’s emphasis on premium projects in Mumbai and continued launches in Bengaluru suggests it is trying to balance multiple demand pools. The quarterly pre-sales jump in Q3 FY26 further indicates that launches can materially shift the run-rate within a short period.

Collections outlook and upcoming guidance updates

Beyond pre-sales, the company also spoke about collections, which typically improve as projects move from launch to execution and handover cycles. Management said it had spoken about guidance of roughly ₹2,000 crore of collections by the end of March. It added that these numbers are expected to increase as new projects “come into the fray” this year and next year. The company said it will come out with updated guidance on collections for next year in March. Management commentary also suggested it expects collections next year to be higher than the ₹2,000 crore guidance for the current year.

Key numbers at a glance

Why this matters for investors tracking real estate cycles

Embassy Developments’ FY26 ₹5,000 crore pre-sales target is being positioned around a clear catalyst set - large MMR launches and sustained Bengaluru activity. The company’s disclosed project-level revenue estimates for Worli, Juhu and Alibaug provide visibility into the scale of its Mumbai pipeline. Meanwhile, the Q3 FY26 step-up in pre-sales and the 9M FY26 growth figures show that the company’s run-rate can change materially as new inventory opens. Management’s comments on higher collections as projects mature also signals a focus beyond bookings, into cash conversion. The next set of formal guidance updates, expected around end-March to early-April, will be a key marker for how the company frames FY27 expectations.

Conclusion

Embassy Developments has outlined a ₹5,000 crore FY26 pre-sales target, supported by planned launches in MMR and continuing project additions in Bengaluru. With 9M FY26 pre-sales at about ₹1,999 crore and a strong Q3 performance, management has linked the year-end outcome to Q4 launch execution. The company has also provided project-level revenue estimates for Worli, Juhu and Alibaug, and said it expects more than ₹12,000 crore in revenue from these three projects. Updated guidance on next year’s pre-sales and collections is expected around end-March to early-April, as stated by management.