Embassy Developments Limited — Others, 29-05-2025: Change in Management

Embassy Developments Limited has announced a board meeting outcome approving the financial results for the quarter and half-year. The standalone profit stands at ₹26.42 Cr on revenues of ₹2112.36 Cr, reversing prior losses. Consolidated profit is ₹19.36 Cr on a top line of ₹2546.97 Cr, reflecting the reverse merger with NAM Estates. Seven senior managers were appointed across operations, marketing, legal, and project delivery, while COO Atul Chandra resigned effective June 30, 2025. The company is considering divesting a Whitefield commercial project with an estimated GDV of ₹3200–3700 Cr, potentially for acquisition by Embassy Office Parks REIT. Share allotment worth ₹335 Cr from warrants was also completed, boosting equity.