Latest news with #EmbassyDevelopmentsLimited
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.
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Business Standard
23-05-2025
- Business
- Business Standard
Blackstone-backed firms invest ₹1,060 crore in Embassy Developments
Blackstone Real Estate Fund-backed NCL SG Holdings Pte Limited and Bellanza Developers Private Limited have invested ₹1,060 crore into Bengaluru-based realty major Embassy Developments Limited through the conversion of unlisted warrants into equity shares. Bellanza Developers Private Limited is a promoter group entity. Of the total investment, Bellanza Developers has infused ₹415 crore and NCL SG Holdings has deployed ₹645 crore into the company. 'The ₹10.6 billion raised through warrant conversions by the promoter group and another key shareholder reflects the continued trust in EDL's vision and growth prospects. This infusion of capital strengthens our balance sheet and our ability to scale operations while creating sustained value for all stakeholders. We look forward to capitalising on India's real estate growth story,' said Sachin Shah, CEO and Executive Director, Embassy Developments Limited. The infusion was done via conversion of 12.7 crore equity shares, originally issued on 21 May 2024, under a preferential allotment approved by shareholders. The shares were allotted at ₹111.51 apiece upon receipt of the remaining 75 per cent of the issue price. Post allotment, Embassy Developments' total paid-up equity capital is ₹269.9 crore, comprising ₹134.9 crore in equity shares of face value ₹2 each. The revised shareholding of the promoter group stands at 42.96 per cent and Blackstone Real Estate Fund at 10.93 per cent. The company has 8.9 crore outstanding warrants pending conversion up to November 2025. Specialising in the construction and development of residential, commercial and Special Economic Zone (SEZ) projects, Embassy Developments focuses on Bengaluru, the Mumbai Metropolitan Region (MMR) and the National Capital Region (NCR), with additional presence in Chennai, Jodhpur, Vadodara, Vizag and Indore. Embassy Developments further said the equity participation underlines the strong and continued confidence shown by the promoter group and another key shareholder in the growth roadmap of EDL, with its substantial pipeline of residential and commercial projects across the country. The company stated that the funds will support upcoming project launches totalling 7.7 million sq ft, valued at over ₹15,000 crore.
