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Embassy Developments Ltd has projected a 73 per cent increase in sales bookings to INR 8,000 crore in FY27, supported by strong housing demand across key residential markets. The company plans to launch housing projects worth nearly INR 19,500 crore during the fiscal year across Bengaluru, Mumbai Metropolitan Region (MMR) and Delhi-NCR, while also monetising inventory worth around INR 11,000 crore in ongoing developments. Managing Director Aditya Virwani said demand for quality residential projects from established developers continues to remain healthy despite global uncertainties. The company is also expecting operational and financial improvements following favourable outcomes in key legal matters, including the setting aside of insolvency proceedings by the National Company Law Appellate Tribunal (NCLAT).
Embassy Developments Ltd is targeting sales bookings of INR 8,000 crore during FY27, a growth of 73 per cent over the previous financial year, as sustained demand for branded residential projects across major cities continues to support the housing market. The Bengaluru-headquartered developer plans to achieve this target through a combination of new project launches, inventory sales and development management assignments across Bengaluru, Mumbai Metropolitan Region (MMR) and Delhi-NCR.
The company’s Managing Director Aditya Virwani said the developer had delivered a strong operational performance in FY26, recording sales bookings of INR 4,631 crore, representing a 128 per cent increase over the previous year, although the figure remained marginally below its annual guidance.
According to Virwani, demand for well-designed and high-quality residential properties remains robust, particularly for developers with a proven execution track record and established brand presence. He indicated that this demand environment had given the company confidence to significantly raise its sales ambitions for the current fiscal year.
Of the INR 8,000 crore sales bookings target for FY27, around INR 2,000 crore is expected to come from two residential projects being developed under a development management (DM) model. Under these arrangements, Embassy Developments will undertake construction and sales activities while earning a fee equivalent to 10 per cent of project revenue.
To support its growth plans, the company intends to launch residential projects with an estimated gross development value of nearly INR 19,500 crore during the fiscal year. These launches will be spread across its key focus markets of Bengaluru, MMR and Delhi-NCR. In addition, the developer currently holds inventory worth approximately INR 11,000 crore in ongoing projects.
Commenting on market conditions, Virwani noted that demand from investors had slowed amid geopolitical uncertainties in West Asia, although demand from end-users remained largely unaffected. He said the more significant impact of the regional situation had been on construction costs and supply chains rather than on residential sales.
The company has experienced challenges in sourcing certain building materials, including tiles, while also facing price increases for several inputs. Virwani stated that rising costs and material availability issues were creating short-term pressure on profit margins across the real estate sector, although Embassy Developments had some capacity to absorb higher input costs.
Virwani also highlighted positive developments on the legal and regulatory front. He said the company had secured favourable outcomes in two significant matters, which were expected to address concerns among shareholders. One of the most notable developments was the recent decision of the National Company Law Appellate Tribunal to set aside insolvency proceedings initiated against the company.
Formerly known as Indiabulls Real Estate Ltd, Embassy Developments is among the country's leading real estate developers. During FY26, the company reported a net loss of INR 872.47 crore compared with a net profit of INR 193.63 crore in the previous financial year. Total income declined to INR 1,905.12 crore from INR 2,546.97 crore. However, Virwani expressed confidence that the company’s financial performance would improve in the coming periods as revenue recognition increases from ongoing and upcoming projects. Embassy Developments currently holds a land bank exceeding 3,000 acres and has a development portfolio of nearly 40 million sq ft across major cities.
Source - PTI
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