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Business Standard
a day ago
- Business
- Business Standard
Embassy Developments Limited Announces FY2025 Financial Results Post Successful Completion of Merger Sets FY2026 GDV Target of Rs. 22,000 Crs
NewsVoir Bengaluru (Karnataka) / Mumbai (Maharashtra) [India], May 30: Embassy Developments Limited ('EDL') today announced financial statements and an investor update as a consolidated company (post successful completion of the merger) for the fourth quarter and the full year ended March 31, 2025. Key Highlights: * Flagship development entity for the Embassy Group (Promoter with ~43% stake) * Combined Company total GDV of Rs. 48k Cr from projects, besides future fully paid developable land banks * Targets 10 project launches in FY2026 with GDV in excess of ~Rs. 22k Cr * Pre-sales target of ~Rs. 5k Cr, a 150% jump over FY2025; estimated collections of ~Rs. 2.2k Cr * FY2025 PAT of ~Rs. 203 Cr; Revenue, Pre-sales, Collections more than ~Rs. 2k Cr each * Proposed an acquisition opportunity to Embassy REIT for ~3.3 msf commercial development in Whitefield, Bengaluru; expected GDV of Rs. 3,200 Cr - 3,700 Cr on completion * Rs. 1,125 Cr transaction with a leading global semiconductor equipment manufacturer to sub-lease & subsequently divest ~25 acres in Whitefield, Bengaluru * Mr. Jitendra Virwani, a visionary promoter with excellent execution capability, aims to replicate his success in Embassy REIT with EDL * New Board and leadership team with Jitendra Virwani as Chairman and Aditya Virwani as MD * Strategically focused on high-growth markets of Bengaluru, MMR, NCR, and Chennai Aditya Virwani, Managing Director, Embassy Developments Ltd., said, "As we close out our first ever quarter as a newly merged entity, we are excited to demonstrate how the same strategies that have powered our commercial success are now propelling us to replicate and amplify that impact within the residential sector. Our GDV for FY26, including Rs. 18.6k Cr for residential and Rs. 3.5k Cr for commercial, underscores our blueprint to build a truly pan-India real estate powerhouse and capitalise on the sustained upcycle in India's housing market. Backed by our extensive land bank, deep understanding of key markets, and a best-in-class leadership team dedicated to scaling operations and unlocking excellence, we look forward to creating exceptional value for our stakeholders. Beyond our existing pipeline, we are looking for and exploring new opportunities to carry forward the momentum." Operational Updates: * Pre-sales: Rs. 2.0k Cr in FY2025 vs. Rs. 1.8k Cr a year ago, up 11% y-o-y * New bookings: 2.2 msf in FY2025 vs. 2.0 msf in FY2024, up 14% y-o-y * Collections: Rs. 1.9k Cr in FY2025 * New Launches: Launched 3 new residential projects in FY2025 with a topline of ~Rs. 1.7k Cr & ~1.6 msf of saleable area, 71% sold * Business Development: Acquired 6 new projects during FY2025 with an estimated GDV of ~Rs. 9.2k Cr & ~5.0 msf of saleable area * Land monetization: ~19 acres in MMR valued at ~Rs. 18 Cr during FY2025 Financial Updates: Revenue * Rs. 1,183 Cr in Q4FY25 vs. Rs. 329 Cr in Q3FY25 & Rs. 402 Cr in Q4FY24, up 100%++ both q-o-q & y-o-y * Rs. 2,547 Cr vs. Rs. 1,218 Cr a year ago, up 100%++ y-o-y EBITDA * Rs. 301 Cr in Q4FY25 vs. Rs. 98 Cr in Q3FY25 & Rs. 30 Cr in Q4FY24, up +100%++ both q-o-q & y-o-y * Rs. 531 Cr vs. Rs. 36 Cr a year ago, up +100%++ y-o-y PAT * Rs. 123 Cr in Q4FY25 vs. loss of Rs. 26 Cr in Q3FY25 & loss of Rs. 90 Cr in Q4FY24, up +100%++ both q-o-q & y-o-y * Rs. 203 Cr vs. loss of Rs. 485 Cr a year ago, up +100%++ y-o-y * Gross Debt stood at Rs. 2,756 Cr, with 0.3x debt to equity; Total Equity at Rs. 9,327 Cr * Cash & Cash Equivalents at Rs. 483 Cr, Net debt Rs. 2,273 Cr Other Updates: EDL is in the process of considering a divestment of one of its projects located in Whitefield, Bengaluru, and is pleased to announce that it has proposed an acquisition opportunity to Embassy Office Parks REIT for a premium commercial real estate development on a completion basis. The proposed development, on completion, is expected to comprise a potential leasable area of ~3.3 msf, with an estimated GDV of Rs. 3200 Cr - Rs. 3700 Cr. The opportunity is preliminary and is subject to, among other things, entry into definitive agreements and obtaining approvals, including from third parties, shareholders and unitholders. There can be no assurance that the Embassy Office Parks REIT will enter any definitive arrangements in relation to the proposed opportunity. Following recent approval on the scheme of merger between Nam Estates Private Limited and the Company, by the Hon'ble National Company Law Appellate Tribunal (NCLAT) on January 7, 2025, Embassy Group (Mr Jitendra Virwani, Mr Aditya Virwani with certain group entities) has become the new promoter with a 42.96% controlling stake. The merger was successfully implemented with effect from January 24, 2025, and the Company has been renamed as Embassy Developments Limited effective February 13, 2025. Due to the reverse merger accounting treatment, financial results of the year ended March 31, 2025 have the results of two months operation of Embassy Developments Limited and its 174 subsidiaries and twelve months operation of NAM Estates Private Limited and its subsidiaries/joint venture. The previous year result (FY 23-24) presented above are, thus that of NAM Estates Private Limited and its subsidiaries/JV, are not comparable with the current period to that extent. (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
Time of India
a day ago
- Business
- Time of India
Embassy Developments posts ₹123.04 crore profit in Q4 FY25
NEW DELHI: Embassy Developments (EDL) has reported net consolidated profit after tax of ₹123.04 crore during the quarter ended March 31, 2025. It had registered loss after tax ₹90.05 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹1,182.61 crore in Q4 FY25 as against ₹401.54 crore it recorded in the similar quarter last year. The board of directors have appointed Parag Saraiya, as chief operating officer (North and West), Reeza Sebastian Karimpanal as chief revenue officer (Residential) and Hriday Desai as chief development officer. The company is in the process of considering a divestment of one of its projects located in Whitefield, Bengaluru . Accordingly, EDL will offer an acquisition opportunity to Embassy Office Parks REIT involving a commercial real estate development project, comprising a potential leasable area of approximately 3.3 million sq ft upon completion with an estimated gross development value in the range of ₹3,200 – ₹3,700 crore. During the quarter the company has purchased investments in Summit Developments, Embassy East Business Parks and Embassy One Developers for consideration other than cash. The company is targeting 10 project launches in FY26 with gross development value (GDV) in excess of ₹22,000 crore, pre-sales of ₹5,000 crore and collections of ₹2,200 crore. It reported pre-sales of ₹2,000 crore in FY25, registering a growth of 11 per cent year-on-year from ₹1,800 crore. Collections stood at ₹1,900 crore in FY25. It launched three new residential projects in FY25 with a topline of ₹1,700 crore & 1.6 million sq ft of saleable area. The company acquired six new projects during FY25 with an estimated GDV of ₹9,200 crore & five million sq ft of saleable area. EDL's gross debt stood at ₹2,756 crore, with 0.3x debt to equity, total equity was at ₹9,327 crore, cash & cash equivalents was at ₹483 crore and net debt stood at ₹2,273 crore in FY25.
Fashion Value Chain
a day ago
- Business
- Fashion Value Chain
Embassy Developments Limited Announces FY2025 Financial Results Post Successful Completion of Merger Sets FY2026 GDV Target of Rs. 22,000 Crs
Embassy Developments Limited ('EDL') today announced financial statements and an investor update as a consolidated company (post successful completion of the merger) for the fourth quarter and the full year ended March 31, 2025. Key Highlights: Flagship development entity for the Embassy Group (Promoter with ~43% stake) Combined Company total GDV of Rs. 48k Cr from projects, besides future fully paid developable land banks Targets 10 project launches in FY2026 with GDV in excess of ~Rs. 22k Cr Pre-sales target of ~Rs. 5k Cr, a 150% jump over FY2025; estimated collections of ~Rs. 2.2k Cr FY2025 PAT of ~Rs. 203 Cr; Revenue, Pre-sales, Collections more than ~Rs. 2k Cr each Proposed an acquisition opportunity to Embassy REIT for ~3.3 msf commercial development in Whitefield, Bengaluru; expected GDV of Rs. 3,200 Cr – 3,700 Cr on completion Rs. 1,125 Cr transaction with a leading global semiconductor equipment manufacturer to sub-lease & subsequently divest ~25 acres in Whitefield, Bengaluru Mr. Jitendra Virwani, a visionary promoter with excellent execution capability, aims to replicate his success in Embassy REIT with EDL New Board and leadership team with Jitendra Virwani as Chairman and Aditya Virwani as MD Strategically focused on high-growth markets of Bengaluru, MMR, NCR, and Chennai Aditya Virwani, Managing Director, Embassy Developments Ltd., said, 'As we close out our first ever quarter as a newly merged entity, we are excited to demonstrate how the same strategies that have powered our commercial success are now propelling us to replicate and amplify that impact within the residential sector. Our GDV for FY26, including Rs. 18.6k Cr for residential and Rs. 3.5k Cr for commercial, underscores our blueprint to build a truly pan-India real estate powerhouse and capitalise on the sustained upcycle in India's housing market. Backed by our extensive land bank, deep understanding of key markets, and a best-in-class leadership team dedicated to scaling operations and unlocking excellence, we look forward to creating exceptional value for our stakeholders. Beyond our existing pipeline, we are looking for and exploring new opportunities to carry forward the momentum.' Operational Updates: Pre-sales: Rs. 2.0k Cr in FY2025 vs. Rs. 1.8k Cr a year ago, up 11% y-o-y New bookings: 2.2 msf in FY2025 vs. 2.0 msf in FY2024, up 14% y-o-y Collections: Rs. 1.9k Cr in FY2025 New Launches: Launched 3 new residential projects in FY2025 with a topline of ~Rs. 1.7k Cr & ~1.6 msf of saleable area, 71% sold Business Development: Acquired 6 new projects during FY2025 with an estimated GDV of ~Rs. 9.2k Cr & ~5.0 msf of saleable area Land monetization: ~19 acres in MMR valued at ~Rs. 18 Cr during FY2025 Financial Updates: Revenue Rs. 1,183 Cr in Q4FY25 vs. Rs. 329 Cr in Q3FY25 & Rs. 402 Cr in Q4FY24, up 100%++ both q-o-q & y-o-y Rs. 2,547 Cr vs. Rs. 1,218 Cr a year ago, up 100%++ y-o-y EBITDA Rs. 301 Cr in Q4FY25 vs. Rs. 98 Cr in Q3FY25 & Rs. 30 Cr in Q4FY24, up +100%++ both q-o-q & y-o-y Rs. 531 Cr vs. Rs. 36 Cr a year ago, up +100%++ y-o-y PAT Rs. 123 Cr in Q4FY25 vs. loss of Rs. 26 Cr in Q3FY25 & loss of Rs. 90 Cr in Q4FY24, up +100%++ both q-o-q & y-o-y Rs. 203 Cr vs. loss of Rs. 485 Cr a year ago, up +100%++ y-o-y Gross Debt stood at Rs. 2,756 Cr, with 0.3x debt to equity; Total Equity at Rs. 9,327 Cr Cash & Cash Equivalents at Rs. 483 Cr, Net debt Rs. 2,273 Cr Other Updates: EDL is in the process of considering a divestment of one of its projects located in Whitefield, Bengaluru, and is pleased to announce that it has proposed an acquisition opportunity to Embassy Office Parks REIT for a premium commercial real estate development on a completion basis. The proposed development, on completion, is expected to comprise a potential leasable area of ~3.3 msf, with an estimated GDV of Rs. 3200 Cr – Rs. 3700 Cr. The opportunity is preliminary and is subject to, among other things, entry into definitive agreements and obtaining approvals, including from third parties, shareholders and unitholders. There can be no assurance that the Embassy Office Parks REIT will enter any definitive arrangements in relation to the proposed opportunity. Notes: Following recent approval on the scheme of merger between Nam Estates Private Limited and the Company, by the Hon'ble National Company Law Appellate Tribunal (NCLAT) on January 7, 2025, Embassy Group (Mr Jitendra Virwani, Mr Aditya Virwani with certain group entities) has become the new promoter with a 42.96% controlling stake. The merger was successfully implemented with effect from January 24, 2025, and the Company has been renamed as Embassy Developments Limited effective February 13, 2025. Due to the reverse merger accounting treatment, financial results of the year ended March 31, 2025 have the results of two months operation of Embassy Developments Limited and its 174 subsidiaries and twelve months operation of NAM Estates Private Limited and its subsidiaries/joint venture. The previous year result (FY 23-24) presented above are, thus that of NAM Estates Private Limited and its subsidiaries/JV, are not comparable with the current period to that extent.
Hindustan Times
4 days ago
- Politics
- Hindustan Times
Tommy Robinson released: All about the anti-Islam campaigner's family, ex-wife, kids and surprising net worth
Tommy Robinson, the co-founder of the English Defense League (EDL), served a jail sentence for the civil offense of contempt of court, but he was released from prison four months early. Following his admission of several violations of a 2021 injunction, Robinson, 42, whose true name is Stephen Yaxley-Lennon, was given an 18-month prison sentence in October. He was prohibited from making the same false accusations against a Syrian immigrant who had successfully sued him for libel by the injunction. On Tuesday morning, Robinson with a a thick beard, longer hair, and a rosary around his neck came out of Milton Keynes' HMP Woodhill. The far-right man was seen talking for about 20 minutes on his X account. When asked how he was doing after being released, Robinson pointed to the jail behind him and remarked, 'Unfortunately, in a country that doesn't believe in free speech, being a citizen journalist, this place is an occupational hazard.' The activist asserted that the British government had attacked him relentlessly, using lawfare as 'a weapon to silence me.' He complimented Elon Musk, saying that 'if we didn't have X, everyone would just think I lied,' and that all efforts to "silence" and suppress him over the years had failed. Later this year, Robinson plans to host a free speech event for supporters in London. His first release date was set on July 26. However, the High Court lowered his sentence last week after concluding that he had demonstrated a "change in attitude" since receiving his term. Also Read: Did Trump just express anger amid claims Harvard rejected Barron Trump? 'It's too much' Tommy Robinson was born to an Irish mother and an English father. He double-barrelled his last name after his mother married his stepfather, Thomas Lennon. The anti-Islam crusader and convicted felon is thought to be worth between £1 million and £2 million. The Guardian claims that Robinson receives money from all over the world and has a global network of affluent bankers. In a high court trial in 2022, he declared himself bankrupt after being sentenced to pay £100,000 in libel damages to a Syrian schoolboy about whom he had disseminated damaging, unfounded rumours online. Robinson allegedly had access to up to £3 million through assets, investments, contributions, and book sales, according to the advocacy organization Hope Not Hate. Robinson and his now-ex-wife Jenna Lennon got divorced in February 2021, just before the former was officially declared bankrupt. During their ten years of marriage, the former couple—who were married in 2011—had three children together, and Robinson's public persona was apparently unwelcome in the household.
Scottish Sun
5 days ago
- Politics
- Scottish Sun
Tommy Robinson walks FREE from jail four months early for contempt of court after ‘lifer made death threats'
TOMMY Robinson has walked free from jail four months early after there was reportedly a mark put on his head by a lifer. Robinson - real name Stephen Yaxley-Lennon - was locked up for 18 months in October but showed a "change in attitude". 8 Tommy Robinson has walked free from jail four months early Credit: X 8 The far-right activist looked unrecognisable with a full beard as he left HMP Woodhill Credit: Twitter 8 Stephen Yaxley-Lennon, known as Tommy Robinson arrives at Folkestone Police Station in Folkestone, in October, 2024 Credit: Reuters 8 Robinson is displayed on a screen, as people attend an anti-immigration protest in London on October 26, 2024 Credit: Reuters The far-right activist looked unrecognisable with a full beard as he left HMP Woodhill. He declared: "Unfortunately the country doesn't believe in free speech." The former EDL leader was jailed for contempt of court after multiple breaches of an injunction in 2021. The order banned the 42-year-old from repeating false allegations against a Syrian refugee who successfully sued him for libel. Robinson's sentence was made up of a 14-month "punitive" element and a four-month "coercive" element - which was slashed. This was because he "purged" his contempt and showed steps not to break the injunction that originally landed him behind bars. He was originally due to be released on July 26. In a ruling, a judge found that while Robinson wasn't showing remorse, he did display a "change in attitude" since being locked up. The judge also noted that Robinson assured the court he has no intention of repeating his false claims again. Mr Justice Johnson said: "He (Robinson) has given an assurance that he will comply with the injunction in the future, that he has no intention of breaching it again, and that he is aware of the consequences of what would happen if he breached the injunction again." Tommy Robinson to be FREED from jail within days after showing 'change in attitude' Lawyers for the Solicitor General also agreed that Robinson had taken steps to adhere to the injunction. The former EDL leader previously failed to appeal against the length of his sentence, saying being in a closed wing of prison was making him "ill". He claimed he was being "segregated" from the other inmates at HMP Woodhill in Buckinghamshire. Following threats to his safety, a court heard there were fears Robinson would be assaulted or even killed by a "lifer" for "kudos" - hence the decision to move him to a closed wing. A lawyer for the Ministry of Justice said at least two inmates were plotting to attack Robinson and that he had a "mark on his head". The row that led to the far-right activist stems from 2018, when a video went viral that showed Jamal Hijazi, a Syrian in West Yorkshire, being attacked by another teenager at school. Robinson falsely claimed that Jamal was a violent thug. As a result of this, the teenager and his family were targeted by death threats. They were later awarded £100,000 in damages after suing Robinson for defamation, and he was slapped with an injunction banning his from repeating his claims. But Robinson lashed out again to say he was being "silenced" and re-showed the 2018 video to thousands of his supporters in Trafalgar Square. When he was jailed, the judge declared his actions were not "accidental, negligent or merely reckless". They added: "Nobody is above the law. Nobody can pick or choose which laws or which injunctions they obey, or which they do not. "Even if they believe that an injunction is... contrary to their views they must comply with the injunction. "They are not entitled to set themselves up as the judge in their own court. "Otherwise the administration of justice and rule of law would break down." In his bid against being put in a closed wing, it was heard Robinson had access to a laptop and emails in prison. He has use of an exercise yard for several hours a day, and is able to make social phone calls for four hours daily. In March this year, Tom Cross, for the MoJ, said in written submissions that 120 people had been authorised to visit him. He added that Robinson been allowed "over 80 visits", another 13 "non-family visits" approved up to March 30, and the ability to request to see other prisoners. The activist's visits are two hours of social visits, four days a week, which he said were "well in excess" of prison requirements for unconvicted prisoners, which is at least one hour per visit, three days a week. 8 Tommy Robinson outside Folkestone Police Station Credit: PA 8 Police stand by as supporters of Robinson attend a Uniting the Kingdom march from Victoria to Parliament Square in central London on October 26, 2024 Credit: AFP 8 Court artist drawing of Robinson (right), whose real name is Stephen Yaxley-Lennon, appearing at Woolwich Crown Court, south London Credit: PA 8 Robinson speaks during a rally in Parliament Square after the final leg of the 'March to Leave' in London, 2019 Credit: AP
