Shares of Embassy Developments Limited gained more than 7% on Monday after the company awarded a construction contract worth over ₹850 crore for its luxury residential project Embassy Citadel in Mumbai.
The stock touched an intraday high of ₹63.29, up 7.14% from the previous close of ₹59.07. It later pared some gains and traded at ₹62.55. The company has a market capitalization of ₹8,698.41 crore.
Contract awarded for Worli project
Embassy Developments has awarded the contract to Leighton Asia, a part of the CIMIC Group.
The agreement covers civil and structural works for Embassy Citadel, the company’s flagship residential project in Worli, Mumbai.
Project highlights
- Construction contract value: More than ₹850 crore
- Project location: Worli, Mumbai
- Estimated Gross Development Value (GDV): ₹8,800 crore
- Development area: Around 1.6 million sq. ft.
- Number of residences: 316
- Triplex mansion homes: Two
- Premium feature: Sky lounge on the 79th floor
The project will also include lifestyle spaces and other amenities.
Embassy said Leighton Asia’s experience in high-rise construction would support the project’s execution.
Business portfolio
Embassy Developments has operations across seven cities and has more than 40 projects in its portfolio.
Its development portfolio comprises:
- Total area: More than 38 million sq. ft.
- Residential projects: Around 26 million sq. ft.
- Commercial and retail projects: Nearly 12 million sq. ft.
The company also owns a land bank of approximately 3,251 acres.
Development value
According to the company, its overall portfolio has:
- Total GDV: ₹57,700 crore
- Residential GDV: ₹42,000 crore
- Commercial GDV: ₹15,700 crore
- Project surplus: ₹30,800 crore
- Surplus margin: Around 58%
- Equity base: Nearly ₹9,900 crore
Recent financial performance
For the quarter ended March FY26, revenue declined to ₹342 crore from ₹889 crore a year earlier.
The company reported a net loss of ₹323 crore, compared with a net profit of ₹123 crore in Q4 FY25.
Other metrics
- Three-year revenue CAGR: 43%
- ROCE: -2.38%
- ROE: -9.10%
- EPS: -₹6.28
- Debt-to-equity ratio: 0.54
About the company
Established in 1993 and headquartered in Bengaluru, Embassy Developments Limited develops:
- Commercial office spaces
- Residential projects
- Industrial parks
- Integrated townships
- Mixed-use developments
The company is part of the Embassy Group and has a presence across major Indian cities.
TL;DR
Embassy Developments rose more than 7% after awarding a construction contract worth over ₹850 crore to Leighton Asia for the ₹8,800 crore Embassy Citadel luxury residential project in Mumbai.
AI Summary
- Embassy Developments gained over 7% during the session.
- The company awarded a contract worth more than ₹850 crore to Leighton Asia.
- Embassy Citadel has an estimated GDV of ₹8,800 crore.
- The Worli project will include 316 residences and two triplex homes.
- Q4 FY26 revenue fell to ₹342 crore and the company reported a net loss of ₹323 crore.
