Embassy Developments guides ₹8,000cr FY27 presales

Record Q4 lifts FY26 performance

Embassy Developments reported record pre-sales in Q4 FY26, with bookings of ₹2,632 crore, up 89% quarter-on-quarter. The strong quarter pushed FY26 pre-sales to ₹4,631 crore, a 128% year-on-year increase. Management also said it achieved about 93% of its FY26 pre-sales guidance of ₹5,000 crore. The update was shared alongside commentary and guidance that outlines a significantly larger sales and launch plan for FY27.

FY27 guidance: ₹8,000 crore presales, ₹3,000 crore collections

For FY27, the company guided for ₹8,000 crore of total pre-sales. This includes ₹6,000 crore expected from its own projects and an additional ₹2,000 crore from development management (DM) projects. Embassy Developments also guided for collections of about ₹3,000 crore, which it said implies around 75% year-on-year growth. The company reiterated that the collection outlook is expected to be supported by milestone-linked inflows from existing launches and ongoing projects.

Launch pipeline: ₹19,400 crore GDV across 13 projects

A key element of the FY27 roadmap is the planned launch pipeline. Embassy Developments said the year’s pipeline includes new projects with a gross development value (GDV) of about ₹19,400 crore across 11 owned projects and two DM projects. The pipeline cited in the company’s commentary includes the ultra-luxury Juhu project and Sky Terraces in Bengaluru. The company also referenced sustained demand for Embassy Citadel as part of its sales momentum narrative.

Balance sheet stance: net debt to equity at 0.3x

Alongside its growth targets, Embassy Developments indicated it is looking to maintain a net debt to equity ratio of 0.3x. For real estate developers, leverage and cash collections are closely tracked because they influence construction pace, land acquisition capability, and the ability to fund launches. The company’s stated leverage metric provides a reference point for how it intends to balance an expanded launch slate with financial discipline.

Conference call context and leadership

The company’s guidance and operational commentary were communicated through disclosures including an earnings call transcript. The conference call referenced the handover to promoter and managing director Mr. Aditya Virwani. In a separate disclosed transcript related to the Q3 and 9M FY26 results (conference call held February 10, 2026), the management team included Mr. Aditya Virwani (Promoter and Managing Director), Mr. Sachin Shah (CEO), and Mr. Rajesh Kaimal (CFO).

Background: merger-driven scale and multi-city footprint

Embassy Developments discussed the merger of Indiabulls Real Estate Limited and NAM Estates Private Limited, followed by rebranding as Embassy Developments Limited (EDL), positioning the entity as a larger real estate platform. The company said it operates across 8 cities, with 40+ projects and about 38 million sq ft of development. It also cited a land bank of over 3,100 acres. These scale indicators help explain why management is pairing higher sales guidance with a large launch pipeline in FY27.

Recent operating metrics from FY26 disclosures

Earlier FY26 disclosures showed a step-up in sales even before the Q4 record. For Q3 FY26, the company recorded pre-sales of ₹1,392 crore, compared with ₹409 crore in Q2 FY26, implying about 240% quarter-on-quarter growth. Cumulative pre-sales for 9M FY26 were about ₹1,999 crore, up around 46% versus 9M FY25, with total area sold of about 1,805k sq ft (up around 36% year-on-year). Management also reported collections of roughly ₹1,100 crore for 9M FY26.

Financial line items cited in the transcript

From the Q3 and 9M FY26 transcript, the company reported total income of ₹1,495 crore for 9M FY26, with Q3 at ₹264 crore. While pre-sales and collections are primary operating indicators in residential real estate, income recognition can vary based on project stage and accounting treatment. The company’s FY27 emphasis on collections highlights the focus on cash conversion from ongoing and newly launched projects.

Key numbers at a glance

Market and investor relevance

Embassy Developments’ FY27 guidance frames the next year around three measurable levers: higher pre-sales, larger launches, and higher collections. The Q4 FY26 pre-sales jump provides the immediate backdrop for a higher base of activity, while the ₹19,400 crore GDV pipeline signals intent to keep supply flowing through FY27. At the same time, the company’s stated net debt to equity ratio of 0.3x indicates the growth plan is being presented alongside a leverage guardrail.

Note on support contact shared in disclosures

A support contact was listed in the provided material: Helpline No. +91-40-67162222 / 79611000.

Conclusion

Embassy Developments closed FY26 with record Q4 pre-sales and set a materially higher FY27 pre-sales target of ₹8,000 crore, supported by a ₹19,400 crore launch pipeline and a ₹3,000 crore collections outlook. The next set of updates will be watched for launch execution, project-wise sales traction, and progress on collections in line with the company’s stated targets.