Embassy Developments Limited — Investor Meet, 15-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Embassy Developments saw strong Q3 pre-sales of 1,392 Cr (+240% QoQ), reaching ~2,000 Cr for 9M. Q3 collections were 415 Cr (+15% QoQ). While 9M EBITDA was negative 107 Cr due to legacy project costs, new projects show high cash margins. Management is confident of hitting the FY26 pre-sales target of 5,000 Cr, driven by recent launches like Embassy Greenshore and upcoming Q4 projects including Mumbai's Embassy Citadel. Gross debt stands at ~4,700-4,800 Cr, with new finance secured at sub-9%. Focus remains on execution, unlocking existing inventory, and strategic growth. Management expresses confidence in strong future cash flows and an operational turnaround despite near-term P&L losses from historical issues.