Embassy Developments shares fall 4% despite 240% jump in quarterly pre-sales

Embassy Developments Limited shares declined 3.97 per cent to ₹64.75 on the NSE on Tuesday afternoon, despite the company reporting a sharp 240 per cent quarter-on-quarter growth in pre-sales for Q3 FY26.

The stock opened at ₹65.32 and touched a low of ₹64.25 during the session, with selling pressure dominating as 71 per cent of the day’s trading volume came from sellers. The shares have been under the Additional Surveillance Measure (ASM) framework with 100 per cent margin requirement following the company’s admission into insolvency proceedings in December.

The company announced on February 9 that pre-sales reached ₹1,392 crore in Q3 FY26, up from ₹409 crore in Q2 FY26. New bookings stood at 1.19 million square feet, marking a 193 per cent QoQ increase. Collections for the quarter stood at ₹414 crore, reflecting 15 per cent QoQ growth.

Embassy Developments launched two residential projects—Embassy Greenshore and Embassy Eden in North Bengaluru—along with Embassy East Business Park Phase I during the quarter. Embassy Greenshore achieved pre-sales of ₹804 crore against its ₹1,600 crore gross development value.

The company maintains a debt-to-equity ratio of 0.36x with gross institutional debt of ₹3,700 crore and cash equivalents of ₹670 crore as of December 31, 2025.

However, investor sentiment remains cautious due to ongoing insolvency proceedings related to a 2011 corporate guarantee for Sinnar Thermal Power Limited. The company has obtained a stay from NCLAT, with final arguments scheduled for February 19. Managing Director Aditya Virwani stated the matter has no impact on day-to-day operations.

The stock has fallen 55 per cent over the past year and trades 56.6 per cent below its 52-week high of ₹149.35.

Published on February 10, 2026