Embassy Developments Q2 pre-sales rise 272% to ₹3,225 crore

Embassy Developments has reported pre-sales of about ₹3,225 crore for the second quarter of FY27, covering the period ended 30 September 2026. The figure, disclosed in a business update filed with the stock exchange on Thursday, 8 October 2026, is up 272% from ₹868 crore in the first quarter. The growth came from three project launches in the quarter carrying a combined gross development value of ₹7,500 crore, spread across Bengaluru and Mumbai.

The quarter lifted first-half FY27 pre-sales to about ₹4,093 crore, a rise of 574% over the ₹607 crore recorded in the same period a year earlier. Collections in the quarter reached about ₹546 crore, up 10% from ₹496 crore in the first quarter, taking first-half collections to ₹1,041 crore, an increase of 53% year on year. The company's shares were trading 0.6% higher at ₹57.55 in the afternoon session on the day of the update.

Key figures from the quarter

Embassy Developments has now booked roughly 51% of its full-year FY27 pre-sales guidance of ₹8,000 crore, and first-half collections equal about 35% of its collections guidance of ₹3,000 crore. The company said its performance in the period was led by demand for its residential product rather than a single transaction.

• Q2 FY27 pre-sales: about ₹3,225 crore, up 272% from Q1
• H1 FY27 pre-sales: about ₹4,093 crore, up 574% year on year
• Q2 collections: about ₹546 crore, up 10% quarter on quarter
• Combined GDV of the three launches: ₹7,500 crore, about 39% of planned FY27 new-project GDV
• Net institutional principal outstanding: ₹3,732 crore as of 30 September 2026

Launches driving the quarter

Embassy Origins, an approximately 85-acre residential development in North Bengaluru, was the largest contributor. The company reported pre-sales exceeding ₹1,800 crore for the project in early October, with 477 homes booked and a 62% absorption rate. The first phase comprises two RERA-approved projects, Embassy Riverine and Embassy South Reserve, with a combined GDV of ₹4,500 crore and about 2.6 million square feet of residential space across the wider development.

Embassy Riverine comprises 217 villas in 4, 4.5 and 5 BHK configurations across 1.1 million square feet of saleable area. Its RERA registration is PRM/KA/RERA/1251/309/PR/090926/008924, registered on 9 September 2026, and the declared completion date is 30 September 2032. Embassy South Reserve offers 855 apartments ranging from studios to 3.5 BHK across 1.5 million square feet, with a proposed completion date of 31 March 2032. Both projects were launched in September 2026. Embassy South Reserve alone recorded about ₹880 crore in sales within two weeks of launch, while Embassy Riverine recorded about ₹933 crore in the same period.

In Mumbai, the company reported sales of about ₹758 crore at Embassy Terazza in Juhu. The largest part of that figure is a memorandum of understanding announced on 22 September 2026 for an entire residential tower of 63,000 square feet of RERA carpet area, a G+7 storey structure, valued at ₹711 crore. The buyer is Dinesh Thakkar, founder and chairman of Angel One Limited, who said the purchase was driven by requirements for privacy, spaciousness and sea views. The company described the transaction as one of the largest residential deals in India to date. The deal implies a rate of about ₹1.13 lakh per square foot in the Juhu micro-market.

Embassy Terazza is an ultra-luxury, low-density development spanning more than two acres on Juhu Tara Road. It will have about 50 residences across five towers, with one residence per floor, and an estimated gross development value above ₹3,000 crore.

Location of Embassy Origins

Embassy Origins sits on Chapparkallu Road in the Tharahunise belt, north of Yelahanka, and is about 20 minutes from Kempegowda International Airport. The site is organised around a central riparian corridor of roughly 41 acres that links five interconnected lakes, and includes about 4,000 native trees across more than 100 species. The company said it has seen strong demand for premium residential housing in Bengaluru, and the response to Origins reflects that interest.

About the developer

Embassy Developments was formerly known as Equinox India Developments Limited. The company reported FY26 sales bookings rising 128% year on year to ₹4,631 crore, and has outlined a pipeline of about ₹19,400 crore of GDV for FY27. Its FY27 presales guidance of ₹8,000 crore comprises ₹6,000 crore from its own projects and ₹2,000 crore from development management projects. Its track record in Bengaluru includes the sell-out of Embassy Greenshore and Embassy Verde Phase II. Managing Director Aditya Virwani said the company delivered a strong FY26, and Chief Financial Officer Rajesh Kaimal said the company began the year with ₹1,165 crore in cash.

What comes next

With first-half pre-sales already past the halfway point of the annual target, the company is focused on converting bookings into collections and construction progress. Management said the strong response to Origins will accelerate development timelines for the next phase of the project. Chief Revenue Officer Reeza Sebastian said the demand reinforces conviction in design-led, nature-first development and gives strong visibility on FY27 pre-sales and cash flows. Most of the new-project GDV planned for FY27 is still to be launched in the second half of the year.