Slide 1: Investor Update cover letter to stock exchanges
EMBASSY DEVELOPMENTS LIMITED (Formerly known as Equinox India Developments Limited, and earlier Indiabulls Real Estate Limited) CIN: L45101HR2006PLC095409 May 29, 2025 Scrip Code – 532832 EMBDL/EQ BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Bandr
Slide 2: Embassy Developments Limited FY2025 Investor Update
EMBASSY DEVELOPMENTS LIMITED (EDL) FY2025 Investor Update May 29, 2025 EMBASSY LAKE TERRACES – ACTUAL IMAGE MAY 2025
Slide 3: Introducing EDL: A New Chapter Begins
2 INTRODUCING EDL: A NEW CHAPTER BEGINS MAY 2025 EMBASSY GROVE – ACTUAL IMAGE
Slide 4: Snapshot
23 SNAPSHOT Geographical Footprint Area (msf) 8 Cities 30 37.1 msf Presence Projects Portfolio (Saleable + Leasable) 29.6 msf 7.5 msf 3,142 Acres NCR 0.6 Residential Commercial Land Bank (Retail + Office) (excl. Projects) 0.3 Jodhpur Vadodara 0.1 2.1 Indore ~₹48k Cr ~₹38.5k Cr ~₹9.5k Cr Total GDV Re
Slide 5: Embassy Developments Ltd – The Merged Entity
4 EMBASSY DEVELOPMENTS LTD – THE MERGED ENTITY Flagship development entity for the Embassy Group • Embassy Group is the new promoter with ~43% controlling stake, post completion of the merger with Equinox India Developments Limited (erstwhile Indiabulls Real Estate Limited) • Mr. Jitendra Virwani, a
Slide 6: Strategy & Way Forward
5 STRATEGY & WAY FORWARD • Visibility on near-term liquidity & cash flows • Renewed focus on brand • Maintain a prudent capital structure re-positioning & governance Capital Re-Energize Management Business • Organic growth from future launches • Focus on execution and on existing land parcels comple
Slide 7: Introduction to Embassy Group
6 INTRODUCTION TO EMBASSY GROUP EMBASSY TECHVILLAGE – ACTUAL IMAGE MAY 2025
Slide 8: Embassy Group Credentials
7 EMBASSY GROUP CREDENTIALS 30+ Years of Presence in 75+ Million Sq. Ft. Excellence in 22 Cities PAN India Delivered & Managed Real Estate Across Businesses Partnerships with Launched India’s First Private Equity and Publicly Listed REIT Global Institutions MAY 2025 EMBASSY ONE – ACTUAL IMAGE
Slide 9: Embassy Group Businesses
8 EMBASSY GROUP BUSINESSES COMMERCIAL RESIDENTIAL WEWORK INDIA EMBASSY SERVICES COMPLETED COMPLETED 100K+ DESKS AUM 54+M SQ. FT. 21+M SQ. FT. 62 LOCATIONS 130M SQ. FT. HOSPITALITY ENERGY MANAGED HOSPITALITY EMBARK COMPLETED OPERATIONAL PLANT OPERATIONAL BEDS INDIA’S ONLY 1,096 KEYS 100MW 1,492 INTEG
Slide 10: Embassy Group Companies
9 EMBASSY GROUP COMPANIES EMBASSY DEVELOPMENTS LIMITED MAY 2025
Slide 11: EDL Growth Drivers
10 EDL GROWTH DRIVERS MAY 2025 EMBASSY BOULEVARD – ACTUAL IMAGE
Slide 12: Residential Launch Pipeline
11 RESIDENTIAL LAUNCH PIPELINE EDL has a robust new launch pipeline for next 3+ years from its own landbanks. The merger has provided the combined company with an abundance of new projects (with land fully paid for), which shall help maintain launch momentum. EDL is actively pursuing new deal opport
Slide 13: New Launches
12 NEW LAUNCHES Total GDV for FY 2026 launches in excess of ₹22k Crs, which include 10 residential / commercial strata sale launches with GDV potential of ~ ₹18.6k Cr and 1 commercial development with GDV potential of ₹3.5k Cr Area GDV(1) Sl. Particulars Category (msf) (₹ Cr) For Sale Projects 1 Emb
Slide 14: Commercial Development Overview
13 COMMERCIAL DEVELOPMENT OVERVIEW EDL considers development of commercial offices as a key segment towards profitable growth; The Group has unparalleled skills & efficiency in the office segment built over decades. EMBASSY EAST BUSINESS PARK • Location: Whitefield BLR • Land Parcel: 35 acres • Leas
Slide 15: Fully Paid Landbanks
14 FULLY PAID LANDBANKS Land banks which can fuel the next phase of growth • Total of 3,142 acres, one of the Location (Acres) Sohna 520 largest amongst listed players Gurugram-Sec 103 1 Sonepat 13 North Total North 534 534 acres • Attractive parcels in Panvel near Location (Acres) upcoming Navi-Mum
Slide 16: Board of Directors
17 15 BOARD OF DIRECTORS MAY 2025
Slide 17: Leadership Team
16 LEADERSHIP TEAM Average Work Experience of 20+ Years
Slide 18: Capitalisation & Float
17 CAPITALISATION & FLOAT Among top 15 listed developers by market capitalization with revised equity base of ~135 Cr shares. Promoter holding at ~43%, with top 6 holders constitute another ~26% Shareholding as of May 23, 2025 Top 5 Investors DII's, 3.4% Category Investors % Corporates, 3.5% Promote
Slide 19: Earnings Highlights
18 EARNINGS HIGHLIGHTS MAY 2025 EMBASSY LAKE TERRACES – ACTUAL IMAGE
Slide 20: FY2025 Key Highlights
19 FY2025 KEY HIGHLIGHTS Operational Highlights • Pre-sales: ₹2.0k Cr in FY2025 vs. ₹1.8k Cr a year ago, up 11% y-o-y • New bookings: 2.2 msf in FY2025 vs. 2.0 msf in FY2024, up 14% y-o-y • Collections: ₹1.9k Cr in FY2025 • New Launches: Launched 3 new residential projects in FY2025 with a topline o
Slide 21: Operational Highlights
20 OPERATIONAL HIGHLIGHTS For the full year ended March 31, 2025 Area Sold Pre-Sales Collections (msf) (₹ Cr) (₹ Cr) 2,031 1,988 2.2 1,838 1,852 2.0 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 Y-o-Y 14% 11% -7% MAY 2025
Slide 22: Financial Highlights
21 FINANCIAL HIGHLIGHTS For the quarter ended March 31, 2025 (₹ Cr) Revenue EBITDA PAT 1,183 301 123 402 329 98 -26 30 -90 Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25 Y-o-Y 100%++ 100%++ 100%++ Q-o-Q 100%++ 100%++ 100%++ For the full year ended March 31, 2025 (₹ Cr) 2,547 531 203
Slide 23: External Debt Profile
22 EXTERNAL DEBT PROFILE Particulars (₹ Cr) March 31, 2025 Gross Institutional Debt 2,756 Less: Cash & Cash Equivalents 483 Net Debt 2,273 Total Equity 9,327 Repayment Schedule Debt / Equity Ratio 1,262 927 566 0.3x < 1 Year 1- 2 Year > 2 Year MAY 2025
Slide 24: Consolidated Balance Sheet (Extract)
23 CONSOLIDATED BALANCE SHEET (EXTRACT) FY2025 net worth at ₹9,327 Cr As at As at As at As at Assets March 31, 2025 March 31, 2024 Equity And Liabilities March 31, 2025 March 31, 2024 (₹ Cr) (₹ Cr) (₹ Cr) (₹ Cr) Tangible and Intangible Assets 94 23 Equity Share Capital 244 108 Capital Work in Progre
Slide 25: Consolidated Profit & Loss Statement (Extract)
24 CONSOLIDATED PROFIT & LOSS STATEMENT (EXTRACT) FY2025 revenues at ₹2,547 Cr and EBITDA at ₹531 Cr Q4 FY2025 Q3 FY2025 Q4 FY2024 FY2025 FY2024 Particulars (₹ Cr ) (₹ Cr ) (₹ Cr ) (₹ Cr ) (₹ Cr ) Revenue 1,183 329 402 2,547 1,218 EBITDA 301 98 30 531 36 Finance Costs 139 106 150 461 556 Depreciatio
Slide 26: EDL Projects
25 EDL PROJECTS MAY 2025 EMBASSY GROVE – ACTUAL IMAGE
Slide 27: Projects Overview
26 PROJECTS OVERVIEW Area (msf) Unsold Sold Particulars (₹ Cr) Category Saleable Sold Unsold Inventory Receivables OC Received Projects Golf City, Savroli Residential 0.9 0.7 0.3 101 22 Mega Mall, Jodhpur Commercial 0.6 0.3 0.3 116 3 One Park, Vadodara Commercial 0.5 0.3 0.1 45 13 Embassy Grove, Ben
Slide 28: Projects Overview (Cont'd)
27 PROJECTS OVERVIEW (CONT’D) Area GDV Area GDV Particulars Category (msf) (₹ Cr) Particulars (₹ Cr) Category (msf) (₹ Cr) Upcoming Projects Embassy Blu, Mumbai Residential 1.6 8,773 Planned Projects Embassy Village, Alibaug Residential 0.2 400 Arivali, Panvel Commercial 0.8 606 One 09, Gurugram Com
Slide 29: Embassy Residential: Luxury Projects
28 EMBASSY RESIDENTIAL LUXURY PROJECTS Actual image Actual image Actual image Actual image FOUR SEASONS PRIVATE RESIDENCES, EMBASSY BOULEVARD, EMBASSY LAKE TERRACES, EMBASSY GROVE, BENGALURU BENGALURU AT EMBASSY ONE BENGALURU BENGALURU • India’s first Four Seasons Private • 51 acres • 14 acres • 7 a
Slide 30: Embassy Residential: Luxury Projects
29 EMBASSY RESIDENTIAL LUXURY PROJECTS Actual image Actual image Actual image BLU ESTATE & CLUB, MUMBAI SKY, MUMBAI SKY FOREST, MUMBAI • 10-acre development • 96 luxury apartments • Luxury duplex homes • Mumbai’s most exclusive • Panoramic views of Arabian Sea, Worli • With the first residences star
Slide 31: Embassy Residential: Integrated & Senior Living Projects
30 EMBASSY RESIDENTIAL INTEGRATED & SENIOR LIVING PROJECTS Rendered image Actual image Rendered image EMBASSY SPRINGS, BENGALURU EMBASSY RESIDENCY (Phase 1), SERENE AMARA BY COLUMBIA PACIFIC, BENGALURU CHENNAI • 288 acres • 25 acres • 239 units launched • Self-sustaining city: Plots I Apartments I •
Slide 32: Embassy Residential: Integrated & Senior Living Projects
31 EMBASSY RESIDENTIAL INTEGRATED & SENIOR LIVING PROJECTS Actual image Actual image Rendered image GREENS, MUMBAI GOLF CITY, MUMBAI PARK, MUMBAI • Premium apartments • 1,280 premium homes (1-4 BHK) • Spacious residences • Eco-friendly design • 52 acres • Luxurious, eco-friendly design • Proximity t
Slide 33: Embassy Residential: Premium Projects
32 EMBASSY RESIDENTIAL PREMIUM PROJECTS Actual image Rendered image Rendered image Rendered image EMBASSY PRISTINE, BENGALURU EMBASSY EDGE, BENGALURU EMBASSY EAST AVENUE, BENGALURU EMBASSY VERDE, BENGALURU • 14.5 acres • Phase 1: 12 acres • 3.75 acres • 12 acres • 424 units of 3, 4 and 5-bedroom • 8
Slide 34: Embassy Residential: Premium Projects
33 EMBASSY RESIDENTIAL PREMIUM PROJECTS Rendered image Actual image Actual image Actual image EMBASSY ONE THANE, MUMBAI ENIGMA, DELHI-NCR CENTRUM PARK, GURGAON SIERRA, VIZAG • 7 acres | Development across 3 phases • Exquisite residences • Premium township • 2 and 3 BHK units • Themed landscapes with
Slide 35: Community Outreach
34 COMMUNITY OUTREACH EDUCATE. ENGAGE. EMPOWER. ENHANCE. MAY 2025
Slide 36: Our Impact
35 OUR IMPACT EDUCATION & COMMUNITY 42,000+ 351 285 74 Students supported in Educators Scholarships Girls pursuing 15 schools, 8 empowered awarded Engineering anganwadis and 250 tribal schools INFRASTRUCTURE & OUTREACH 20 12 01 9000+ 24 Classrooms built Toilets in four Waste shed Students benefitted
Slide 37: Notes & Glossary
36 NOTES & GLOSSARY Notes: ► All figures in this presentation are as of March 31, 2025 unless otherwise stated ► Figures has been rounded off to nearest single decimal / integer for ease of presentation ► Area (msf) represents unsold residential saleable area including commercial area sold on strata
Slide 38: Disclaimer
37 DISCLAIMER This presentation (“Presentation”) is for informational purpose only and does not constitute a prospectus, offering memorandum or an offer, or a solicitation of any offer, to purchase or sell any securities of Embassy Developments Limited (“Company”) or its existing or future subsidiar
Slide 39: Thank You!
Thank You! Investor Relations Contact: Mr. Ankit Naita Website: www.embassyindia.com | Email: ir@embassyindia.com | Office: +91 22 6572 2233 Mumbai Corporate Office: One World Center, Tower 2A, 4th floor, Senapati Bapat Marg, Mumbai – 400013 Bengaluru Corporate Office: Embassy One – Pinnacle, 14th f