Embassy Development Posts Rs. 123.04 Cr Profit, Expands Portfolio

Key Highlights:

• Profit Surge: Embassy Development reports a net consolidated profit of ₹123.04 crore for Q4 FY25, reversing a loss of ₹90.05 crore in Q4 FY24.
• New Leadership Appointments: Key leadership changes include the appointment of Parag Saraiya as COO, Reeza Sebastian Karimpanal as CRO (Residential), and Hriday Desai as CDO.
• Strategic Project Expansion: The company plans to sell a Whitefield project, and has added new investments with an estimated development value of ₹22,000 crore for FY26, including six new projects.

Net consolidated profit after tax for the quarter ending March 31, 2025, is Rs. 123.04 crore, according to Embassy Development.

The company registered loss after tax of Rs. 90.05 crore for the same quarter in 2022 which is higher than the corresponding loss of Rs. 38.25 crore from the prior year fiscal, it said in a BSE filing. The company reported net consolidated total income of Rs. 1,182.61 crore for Q4 FY25, while recording Rs. 401.54 crore in Q4 FY24. Parag Saraiya, a new chief operating officer (North and West), Reeza Sebastian Karimpanal as chief revenue officer (Residential) and Hriday Desai as chief development officer have all been added to the board.

The firm is going through a consideration process to sell one of its projects in Whitefield, Bengaluru. So, Embassy Office Parks REIT will be offered an opportunity to regionally acquire EDL which is a commercial real estate project idea that could deliver about 3.3 million sq ft of space upon completion, worth an estimated Rs. 3,200 to Rs. 3,700 crore. In the quarter, the company bought investments in Summit Developments, Embassy East Business Parks and Embassy One Developers using something other than cash. A range of 10 projects with a total development value worth about Rs. 22,000 crore and likely sales of Rs. 5,000 crore are set to launch in FY26, expected to result in collections of Rs. 2,200 crore.

Also Read: Embassy REIT secures Rs. 675 Crore Debt Fund to Repay Existing Realty Loans

The company informed that pre-sales for FY25 surpassed Rs. 2,000 crore, up from Rs. 1,800 crore a year earlier. Collections were Rs. 1,900 crore during FY25. It introduced three residential projects in the previous year with a sales market value of Rs.  1,700 crore and offering 1.6 million sq ft of residence area. During FY25, the company bought six new projects for a total estimated GDV of Rs. 9,200 crore & around five million square feet of sellable land. EDL’s gross debt in FY25 was Rs. 2,756 crore, its debt to equity ratio was 0.3x, total equity was at Rs. 9,327 crore, cash and cash equivalents was Rs. 483 crore and net debt was Rs. 2,273 crore.