Interim report
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2 EMBASSY November 03, 2026 Scrip Code: 532832 Symbol: EMBDL BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Mumbai — 400 001 Bandra Kurla Complex, Mumbai — 400 051 Sub: Outcome of the meeting of the Board of Directors of Embassy Developments Limited (“Company”) held on November 03, 2026, and submission of unaudited financial results for the quarter and half year ended September 30, 2026 Dear Sir/Madam, Pursuant to Regulations 30, 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”), we wish to inform you that the Board of Directors of the Company (“Board"), at its meeting held today, i.e,, November 03, 2026, which commenced at 05:25 PM and concluded at 06:45 PM, has, inter alia, considered and approved the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2026 (“Financial Results”). In this regard, we enclose herewith the Financial Results, along with the Limited Review Reports thereon, dated November 03, 2026, issued by the statutory auditors of the Company. These Financial Results are also being made available on the website of the Company, i.e, www.embassyindia.com, and the requisite newspaper advertisement shall be published, in accordance with the provisions of Regulation 47 of the SEBI LODR Regulations. Further, the trading window for dealing in securities of the Company shall continue to remain closed up to and including November 05, 2026, in accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and the Company's Code of Conduct for Regulating, Monitoring and Reporting Trading by Designated Persons and their Immediate Relatives. Yours truly, For Embassy Developments Limited (Formerly Equinox India Developments Limited) Vikas Khandelwal Company Secretary Encl: As above EMBASSY DEVELOPMENTS LIMITED (Formerly ki n as Equinox India Developments Limited and e ndiabulls Rea E:ir@embassyindia.com W: www.embassyindia.com CIN: L45101HR2006PLC095409 Bengaluru Office: Mumbai Office: Registered Office: Em O Pinn T z 1-1001, W , Dena Bank Co ) Bengaluru Karnatak ! ) Phase 4 Rd, Gurugram, Haryana-122016 T:(080) 69354859 T: (022) 65722233 T: (0124) 4609559
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Agamval Prakash & Co. CHARTERED ACCOUNTANTS 508, Indra Prakash, 21, Barakhamba Read, New Delhi - 110001 Phone : 011-4351 ntact@apnca.org Independent Auditot's Review Report on Consolidated Unaudited Quarterly and Year to Date Financial Results of the of Company Putsuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requitements) Regulations, 2015 (as amended) To The Board of Ditectors of Embassy Developments Limited (Formerly known as Hguinox: India Developments Limited) 1. We have reviewed the accompanying statement of unaudited consolidated financial resulrs (‘the Statement’) of Embassy Developments Limited (Formerly known as Equinox: India Developments Limited) ('the Holding Company') and its subsidiaries, partncrship firm and limited liability partnerships (the Holding Company, its subsidiaries, pattnetship firm and limited liability partnerships together referred to as “the Group”), its joint venture (refer Annexure 1 for the list of subsidiaties, partnership firm, limited liability partnerships and joint venture included in the Statement) for the quarter ended 30 September 2026 and the year to date results for the period 01 April 2026 to 30 September 2026, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. The Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measutement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 (the Act), read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedutes in accordance with SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended), to the extent applicable.
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Independent Auditor's Review Report on Consolidated Unaudited Quarterly and Year to Date Financial Results of the of Company Pursuant (o the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont’d) w Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review teports of the other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), inclading the manmer in which it is to be disclosed, or that it contains any matetial misstatement. The accompanying Statement includes the unaudited interim financial results, in respect of: ) 35 subsidiaties, whose unaudited interim financial results reflects total assets of T 73,248.91 million as at 30 September 2026, total revenue of ¥ 1,900.25 million and % 3,545.64 million, total net profit/(loss) after tax of Z (232.68) million and ¥ (860.04) million, total comprehensive income of ¥ (209.75) million and ¥ (837.11) million for the quarter ended on 30 September 2026 and yeat to date from 01 April 2026 to 30 September 2026 respectively, and cash outflows (net) of ¥ 19.30 million as considered in the Statement which have been reviewed by other auditors. b) 1 joint venture, whose unaudited intetim financial results reflects Group’s share of profit/(loss) after tax T 22.11 million and ¥ 57.81 million, for the quarter ended on 30 September 2026 and year to date from 01 April 2026 to 30 September 2026 respectively, as considered in the Statement which have been reviewed by another audiror. c) 1 limited liability partnership, whose unaudited interim financial results reflects Group’s shate of profit/(loss) after tax ¥ (0.02) million and ¥ (0.05) million for the quarter ended on 30 September 2026 and year to date from 01 April 2026 to 30 September 2026 respectively, as consideted in the Statement which have been reviewed by another auditor. The reports on the unaudited interim financial results/financial information of these entities have been furnished to us by the management, and our conclusion in so far as it relates to the amount and disclosures included in respect of these entities is based solely on the review reports of such other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modificd in respect of this matter with respect to our reliance on the work done by and the report of the other auditor. Turther, of these subsidiaries, certain subsidiaries are located outside India, whose interim financial results/information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditor under generally accepted auditing standards applicable in their respective countries. The Holding Company’s management has converted the financial information of such subsidiaries from accounting principles genetally accepted in their respective countries to accounting ptinciples generally accepted in India. We have reviewed these
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Independent Auditot's Review Report on Consolidated Unaudited Quarterly and Year to Date Financial Results of the of Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont’d) conversion adjustments made by the Holding Company’s management. Our conclusion, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based on the review report of other auditor and the conversion adjustments prepared by the management of the Holding Company and review by us. For Agarwal Prakash & Co. Chartered Accountants Firm's chmr_mnon No.: 005975 N Vikas A¢garwal Partner Membership No.: 097848 UDIN: 26097848]XDQILC3883 Place: New Delhi Date: 03 November 2026
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Annexure 1 List of entities included in the Statement S.No. | Name of the Entitics S.No. | Name of the Entities 1 | Athena Land Development Limited 29 | Lucina Land Development Limited 2 Athena Builders and Developers 30 Nilgiri Infraestate Limited Limited _ 31 | Nilgiti Infrastructure Development 3 Athena Buildwell Limited Limited 4 Athena Infrastructure Limited 32 Nilgiti Infrastructure Projects 5 | Ceres Constructions Limited Limited T Tt 33 | Noble Realtors Limited 7| Ceres Infrastructure Limited 2. | NignsLand Holdnigs Limfed 8 | Ceres Land Development Limited 85 | Wilgil Lands Limited 5 Geres Properties imied 36 | Nilgiri Land Development Limited T e 37 | Nilgin Infrastructure Limited 11 | Diana Land Development Limited 38| SelencConstmetions Timited 12 | Fama Infastroctare Limited 49 | Seleneilnfastructure Dipitet] | P P Tl 40| Selene Land Development Limited ¢ | Equinox India Buildcor Limited 4 | ShsallkRtgpetties Limtted (formetly Indiabulls Buildcon 42 | Sylvanus Properties Limited Limited) 43 Triton Properties Limited 15 | Makala Infrastructure Limited 44| Vindhyachal Land Development 16 | Devona Constructions Limited Limited (formerly Indiabulls Constructions 45 Vindhyachal Infrastructure Limited = {jmited) — = 46 | Zeus Buildwell Limited *,qumox ndia Landcon Limite: o = (Formerly Tndiabulls Tands Limited) 2 |Mes bymg] iified ¥ = o T 48 Devona Properties Limited - B‘ “;‘“e ; "“"I”C“?“d f‘m : 49 | Sentia Real Estate Limited *Sta T 7 = T S R d;’“““ 7 50 | Sophia Real Estate Limited 20 | Equinox India Commercial Estate 51 | Sophia Constructions Limited Limited (formerly Tndiabulls 52| Albina Real Estate Limited Commercial Estate Limited) %5 | Aliid Dropetties Linized 21 | Serida Engincering Limited — SR 54 Albasta Properties Limited (formerly Indiabulls Engineering s Temited 55 Varali Constructions Limited 22 | Equinox India Tand Holdings 56 | Citra Properties Limited Limited (formerly Indiabulls Land 57 | Apesh Propertics Linited Holduigs Tualied) i 58 | Corus Real Gstate Limited 23 TLavone Infrastructure Projects 5 - = = Limited (formerly Indiabulls 59 Formax Constructions Limited Infrastructure Projects Limited) 60 Lavone Management Services 24 | Equinox India Commercial Limited (formerly IB Holdings Properties Limited (formetly Limited) Indiabulls Commetcial Propertics 61 | Elena Propertics Limited Limited) 62 | Elena Constructions Limited 25 Manjola Infrastructure Limited . — 26| Equinos India Infenestate Limited 25 | BumReal Beseinien (formerly Indiabulls Infracstate 64 | Sentia Developers Limited Limited) 65 Citra Developers Limited 27 Juventus Constructions Limited 6 Devonla Developers Limited 2 JL“"CMZS Land Development Indiabulls Realty Company Limited Amites
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Annexure 1 List of entities included in the Statement ['S.No. | Name of the Entities S.No. | Name of the Entitics 68 Indiabulls Projects Limited 108 TLavone Builders and Developers 69 | Lenus Properties Limited Limited S e T 109 | Juventus Dropertics Limited 71 Sepsct Developers Limited 110 Lucina Buildwell Limited 72| Varali Infrastructure Limited 1. | LocinaPropestics Limited 75 | Mariana Real Bstate Limited jas | el Bivicwel Uit 74 | Albasta Infeastructure Limited 113 | Selene Properties Limited 75 | Albasta Real Fatate T imited 114 | Tefia Land Development Limited WPE T 115 | Vindhyachal Developers Limited 77 Lenus Infrastructure Limited 116 Zeus Riopetties Limifed 78 | Magana Properics Limited 117 | Varali Developers Limited 79 Serida Properties Limited 118 Platane Infrastructure Limited 80 | Mabon Constructions Limited 19 | TedtonBuildwell Limited IR T e 120 | Galium Builders and Developers 2 ;xz:;tlatl;glls Tndustrial Infrastructure o Efi:flnfmmmm i 3 Varali Propetties Limited 122 Linnet Constructions Limited 8 | Apesh Constructions Limited 13 | Linne Destlopers Timied 55| Bequinon Todia Assers Liied 124 | Linnet Real Estate Limited (formerly IB Assets Limited) 125 | Linnet Properties Limited 86 Fama Builders and Developers 126 Edesia Constructions Limited Limited 127 | Edesia Developers Limited 87 Juventus Infrastructure Limited 138 Tidesh Inhasimetore Limitad 88 | Kaflash Buildwell Lifited 129 | Torena Developess Limited 8 [Rallcs Devtapenilimited 130 | Lorens Builders Limited S |Enigr ol Linind] 131 | Lorena Infrastructure Limited L) |Serla Infristrensen Tl 132 | Lotena Constructions Limited 92 | Ablsit:Constrnctions Lirmited 133 | Torcna Real Fstate Limited 93 | Vonnic Real Estate Limited T8 | et Properies iaTied 24| | Marma Land Dieyelnpriiehir Limited 135 | Majesta Developers Limited J5 | AmmadisTend Development Limited 136 | Majesta Infrastructure Limited 96 Karakoram Buildwell Limited 37 Nizjosts Buldess Linited 97 | Karakoram Propertics Limited TR 98 | Aedos Real Istate Company Limited T | Eotoston Lol 20| | Welnaibictsts it 140 | Nerissa Infrastructuze Limited 100 Triton Infrastructute Limited 141 Nerissa Real Entate Timited 101 | Vindhyachal Bulldwell Limited TIE | Nerlssa Developers Tifed el e T43 | Nerissa Propertics Limited 103 | Paidia Infrastructure Limited 144 | Nerissa Constructions Limited | 104 | Fama Estate Limited 15 Eifglflu ?;{‘ifl‘{fi:{;{lflfii gomffl-‘ WE | Tusha Bides gasl Dareinpis T4 | Tapix Consteuctions Limited 106 | Loria Developer Limited 147 | Alrmid Real Bstate Limited 107 Fama Construction Limited
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Annexure 1 List of entities included in the Statement S.No. | Name of the Entities S.No. | Name of the Entities 198 | Kenneth Builders & Dovelopers T82_| UpscactiSalon De Hleganes LLE Limited 183 n - S S clopers Limited 149 | Catherine Builders & Developers K Developate Liritedft Limited 150 | Bridget Builders and Developers #Companies status has been changed from Private damiied Limited to Public Limited during the previous y = Hermes Propertics Limfed ited to Public Limited during the previous year ended 31 March 2026. 152 | Dev Property Development Limited (truck off on 26 May 2026) 153 | Brenformexa Limited S.No._| Name of the Joint Venture 154 | M Holdco 1 Limited T | Embassy Columbia Pacific AST. 155 | M Holdco 2 Limited Privae Limited 156 M Holdco 3 Limited 157 Navilith Holdings Limited 158 | EMBDL— Employees Welfare Trust (formerly known as Indiabulls Real Estate Limited - Employees Welfare Trust) 159 Sky Forest Projects Limited# 160 | Spero Properties and Services Private Limited 161 RGE Constructions and Development Limited# 162 | Vigor Developments Limited# 163 Liquinox Developments Limited# 164 | Sion Bden Developers Limited# 165 ssy One Developers Limited# 166 | Embassy Realty Ventares Limitedff 167 | Embassy One Commercial Property Developments Limited# 168 | Embassy Orange Developers Limited# 169 Embassy East Business Parks Limited# 170 Basal Projects Limited# 171 Limbassy Infra Developers Limited# 172 Ardor Projects Limited# 173 Summit Developments Limited# 174 | Logus Projects Limired# 175 | Cohort Projects Limited# 176 | Embassy International Riding School 177 | Virtuous Developments Limited# 178 | Reque Developers Limited# 179 | Cereus Ventures Limited# 180 Grove Ventures 181 Fmbassy Investmenr Management Services LLP
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2 EMBASSY Embassy Developments Limited (Formerly known as Equinox India Developments Limited) c L4SI101HR2006PLC095409 Registered Office : Office No 01-1001, WeWork, Blue One Square, Udyog Vihar Phase 4 Rd, Gurugram, Haryana 122016 Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2026 Rs.in millions except otherwise stated Quarter ended Half year ended | Year ended SL - September 30, June 30, September 30, | September 3 September 30, I Prctars e e | s | P | ST | s ams T e T N T R T o PR p— waolaws| wwe| oswe| s | s Other income 189.62 245.27 42942 43489 543.70 1.732.89 T ncome AT Y M 7)1 R 7 [oxpnes T i s cont s wwol o | s | aewr| oss| e ER——— | mel aws| vmsw| e | e Finnce cos penlumse | uss | dswe| asen| s Depeciton and smorzsion spene e w57 20104 15234 e ot expenes | wen| el ane Ry ool Expenss Somes | tme | emon | iermas] o moees Lo oo xceptom e o (9 () ) B ) B ) 7] R o | excepiot e, vt g : - s : sw 61 5 ombtore o o0 7 e Y ) E .2 72 Lo T perse [ —— e s a5 na w006 nss D o e so0) 000 12 o570 wom| o oo eredyospeme fzEy ™ ) fEn TEF] I—TE e e oo i [ amen| amie] omm| omem] aomse | S et oo in o s snd L 20 50 as) 5176 1oy w0 i I I T S ™™™ e T Gtk comprenoe e T Tms il ot be el ety o o o Nencenrenns of b b pl, e of s s ; o2 " oz wosi) Tt wille s o o - Exchng difence in oo risnspnons B . ) . (0sn) 299) o e ot ot e s o o - p— - p— oy T ot ompreensoe s ot peodn 217 T T T X 55 e R 3755 T2]Los o he perioden, ek of s st ity hldrso b Compary eyl esassl assiml sosun| omsen| e Nowconuoling e o) o) 199 o o 17 TiTall compreensie 1o Tor e, e o i o — coro) eaes| asws| conrs| oiewm| amse Non<onoling e o8 10n) 199 o0 I 170 T Feidup Bty Shae Cpl P o T g e T N .21 T N 713 1 TS Eamigs ety v o s of Ry Basic (in Rs) (1.95) (1.69)) (.12)] (.64) (240) (6.43)) Diluted (in Rs) (1.95) (1.69)] (1.12)] (3.64)) (240) (6.43)) Te O gty o oo e Sl See accompanying notes (o the unaudited consolidated financial reslts
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Embassy Developments Limited (Formerly known as Equinox India Developments Limited) CIN:L4S101HR2006PLC095409 Hegistered Offic : Office No 01-1001, WeWork Blue One Square, Udyog Vihar Phase 4 Rd, Gurugram, Haryana 122016 Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2026 Nates: e sonsoldted inanil s ofEbsy Developments Limite (fomery known s Eqino s Developments i) (EDL"or e Compang*or "Holding Company"), e e Company s s sbsidaistgeter et o1 e Group) and i it vemures have been rviowe by he audt oo s speeses vy e p at T apestiee meetings hld oo November 0, 2026. The saement forthe quartr an halfyear e Septmbes 30,202 hve bcen reviewed by he sty et e Company “Theunaudited consolidted fnencal el presnted above prain 0 EDL, the Holding Company along with s 134 subsidare ot semmes The unaudited consldated financial results ha been prepared in accordance withthe Indian Accounting Standards ('lnd AS®) presribed under Secion 133 of the Companies Act, 2013 read with rule 3 of Companies (Indian Accounting Standards) Rales, 2015 as amended and requirements of Regulations 35 of s SEb; (Listing Obligations and Disclosures Requirements) Regulations, 2015 as amended. 3 The figurs for he quate ended September 30, 2026 represens the balancing amounts between the unaudited consoldated inancial reslts orthe half year ended September 30, 2026 and the. unaudited consolidated financial resultsfor the quarte ended June 30, 2026, T fgures fo the quarer ended September 30, 2025 represent the balaning amounis between th unauditd conslidated financial result o the half year ended September 30, 2025 and the unaudited consolidated financial results for the quarter ended June 30, 2025, e iroups pimry business scgmentis reflccted based om princpal businessactvies carried on by the Group. As per Indian Accounting Sundard 108 s notfied under the Companes (Indian Accounting Standards) Rules, 2015 as specifid in Section 133 of the Companies Act, 2013, the Group operstes n ane reporable business segment .. real esate development and other real estte elated services and i primarily operating in Idia and hence, considered s sngle geographical segment. fursuant o Embsy Developments Limited Employee Stock Opiion Scherne - 2025 ('ESOS 2025°)scheme, during the haf year ended September 30, 2026, the Nomination and Remuneration Sormice (NRC) approved aditonal rans of 536,198 Stock Opions and 3,26,260 Performance Stock Units to eligible employees unde e oo Further, 194,165 Stock Opions forfeited in quartr ended June 30, 2026 and 4.23.894 Stock Options lapsed in quarier ended September 30, 2026 due to cessatior of employment and other conditions specified under the scheme. Accordingly a i September 30, 202, the net uisanding Stock Opions and Performance Stock Units under ESOS 2025 ae 14275.707 and 48, 04,041 respecively. © e Board of directors and th sharholders vide esoltion dted August 10, 2026 and September 08, 2026 respecivly approved issunce of 3,25,18,900 unlisted convertible warms to Embassy Property Developments Private Limited (member ofthe Promter Group) atan excrcse price of Rs. 11151 per wanean, comvertbye ot equivalent number of fully paid-up equity shares of face vlue of Rs 2 each. The entire warranis were alloted on October 12, 2026, subsequenty the Company 1 received he il somadebr 1 Rs. 3,626.18 millions and the respeciive wartants have been fully converted into equity shares 7 During the half yearended September 30, 2026, the Registrr of Companies approved th stike offof four non-operaional subsidiares (including three step-down subsidiaries and one forcign subsidiary) of the Company. & ehe Company had a wholl owned subsidary Mis Sinnar Therml Power Limited (*STPL) which was camying on power geneaton businss. Subsequently in the financial year 2011.2012 S s demerged ino hi pary enty (Demerger). Post Demerger STPL wasnot under the control of the Company and was mamged by separate promoter entity not related o the ompany vie Ratan ndi Power Linited and Rttan Inia Entrpriscs Limited (he New Promters), During the previoussears, mancial oars 201000011 2o 20162017, STPL had spproached o consorium of banks fo cetain redit cilte. Accordingly, along with ther consotium members, he ende then Koy “Syndicate Bank", specifcally sanctioned cedit faclies sgategain 1 Rs. 14400 millons to STL. In 2010- 11 prorto the Demerger the Company had ssed s ondione soporme uarantee guaranteeing equity infusion into STPL. o corporte uartce as epaced in 2011-12 pursuant 10 the demerger wher the Campany's blgations wer rvised 1 nfve. cquty oty o if equity is not infused by the New o ers. warther pos demege and tansfer of <onirolto New Promotr i thefvanial year 2017-15, STPL defuued inrepayment af e salod o s wonoome was clasified a5.a Non-Performing Asset (NPA) and i undergoing CIRP process. helenderinvoked the corporate guarantce on the Company and the Nevw Promoersclaiming the corporae guarantee requies the Company to repay loans due to the lender, pursuant to which, a Somporate Insolveny Resoluion Process (“CIRP*) andrelaed appoinment of an nerim Resoluion Professional ('IREY) s e gt Company through an order dated December9, 2028 of the Nationsl Company Law Tribunal ("NCLT), Deli Bench,under the provision ofheInslvency and Bankruptey Code, 2016 (Cofe Amameditely pursuant o he CIRP being iniiied against the Company, the Company had iled an appel with National Cormpany Law Appellate Tribunal (“NCLAT") and vide NCLATS order dated December 11,2023, the CIRP and IRP appointment was sayed pending adjudication ofth appeal by NCLAT Subsequent o led hearings, NCLAT pronounced its judgement an May 04,2026, allowing the Company's sppeal and dismissing the Section 7 application filed by the ender Surthr o e NCLAT judgment th lender filed an appeal befor the Hon'ble Supeme Court under Setion 62 ofthe IBC, seking estoration of the NCLT admission order. On August 31, 2026, the Hon'ble Supreme Court condoned th lender'sdelay in e-iling the appea,isued noic to the Company and isted the matter for hearing. However, no stay was granted on the NCLAT judgment and the matter is being contested. ehe NCLAT judgment dated May 04, 2026, therefore, remains in ffet, and the NCLT admission order coninuesto be se aside. As the Hon'ble Supreme Court has not granted any stay, no Corporate Insolvency Resoluson Proces (CIRP) i curently pending agains the Company. The Company continues to oprae n the ormal course of business, with no impact on its operations, ‘govemance, financial positon or business actvites. 9 Fimbassy East Business Purks Limited (EEBPL) (subsidiay o the Company) holdsleasehol righs over and admessuring 78 scres and 2,219 square metres under a Lease-cum-Sale Agreement (LCSA dated Jun 7, 2007, exccuted with the Kamataka Industisl Areas Development Board ("KIADB"). KIADB had ssved 1 snder st e 16, 2026, under Section 34B of the Karmataka Industrial Areas Development Ac, 1966, diecting resumption ofthe said land on account of aleged breaches of the LCSA. The s s s poes challenged by filing a wri pe on March 23, 2026, beorethe Hon'ble High Court of Kamataka at Bengalun. Subsequent o detsiled hearing, the Hon'ble High Court o May 12,2026 allowed the writ petition seting aside the orders passed by KIADB. However, subsequenty, the Division Bench of the Honible High Court of Kamataka, by it order dated June 15, 2026, se aside the ordr dated May 12, 2026 passed by the vacation bench of the. Horible High Cour. The Honle Divison Bench carified that it has ot expresed any opnion o the merisof the nderying dispute. e ing the validity of the KIADB Order, and thatall such fsues remaln open o be considered on merits by the regular oster of the Honlble High Court. The underaking futished by KIADB besoe £ Single Judse, 10 the effect that no o coerive acton shallbe taken, coninses o remain n forc, and EEBPL. continuest hold an reain possesson ofthe Lund pending resh consderaion o the mur o cosr
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Embassy Developments Limited (Formerly known as Equinox India Developments Limited) CIN:L45101HR2006PLC095409 Registered Office : Office No 01-1001, WeWork, Blue One Square, Udyog Vihar Phase 4 Rd, Gurugram, Haryans 122016 Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2026 10 Additonal information on unaudited standalone financial resuls of the Company: R in millions except othenwise stated. Quarter ended Year to date Vear ended Particulars * | September30, T June30,2026 | Scptember30, | September 30, | September 30, | March 31,2026 2026 2028 2026 2005 [Toulincome. 89984 2711 213571 Li7100 339205 5263 66) Loss before tax (647.03) (®95.71)] @15.56)| (1,592.74) (1,31925) .959.52)] Loss after tax (638.09)] (00288) (404.79)| (1,54097) (1,29289)| (2.830.66) [Total comprehensive loss (654.09) (o028 G36.77) (1,556 97) (1,2748D)] (818.20) ‘The Board of Directors of Equinox India Infraestate Limited (‘the transferee Company”), Scheme of Amalgamation (*Scheme™) for the merger of Spero Propertes and Services Py the transferee Company with effect from April 01, 2025 (*Appointed Date”) Pursuant t0 the Scheme, the National Company Law Tribunal (“the NCLT), Mumbai Bench, vide i convening meetings of the sharcholders and creditors of the ransferor Company. Subsequently, a subsidiary of the Company, a ts meeting held on January 27, 2026, had inter alia approved the draft ivate Limited (“the transferor Company”), a wholly owned subsidiary of the trnsferee Company, with s orders dated March 10, 2026 and April 02, 2026, dispensed with the requirement of the transferor Company complicd with the directions contained in the aforesaid orders and filed the Scheme peition with the NCLT on March 23, 2026. The scheme wassanctoned by Honbie NCLT Mumbai Bench on September 2, 2026, Futher, the NCLT Neu, bl Bench, vide its order dated March 25, 2026, the NCLT, ‘The Company, along with one of its subsidiaries, entered into a Share Purchase Ag transfer was completed on April 16,2026, ‘The aforesaid unaudited consolidated financial results are also available on the (wwwwbseindia.com and wwwnseindia. com) Managing Director Place: Bengaluru Date : November 03, 2026 pensed with the requirement of convening meetings of the shareholders and crei with the directions contained in the aforesaid orders and filed the Scheme petition with the NCLT, New Delhi. The Previous periodiyear numbers have been regroupedreclassified wherever considered necessary. reement 10 sellits shares in another subsidiary for a tota consideration of Rs.1,000.00 s of the transferce Company. Subsequently, the transferee Company complid sume s listed for hearing on November 26, 2026 before New Delhi Bench of Companys. website.(www.embassyindia com) and also available on the Stock Exchanges websites
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Embassy Developments Limited (Formerly known as Equinox India Developments Limited) CIN:L45101HR2006PLC095409 Registered Office : Office No 01-1001, WeWork, Blue One Square, Unaudited consolidated balance sheet as at September 30, 2026 Udyog Vihar Phase 4 Rd, Gurugram, Haryana 122016 (Rs. in millions except othenwise stated) Asat Asat Particulars September 30, 2026 March 31,2026 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 139260 147152 Investment property 33,439.80 33,527.39 Intangible asset 023 [ Capital work in progress 365.19 697 Investment property under development 159151 171739 Goodwil (including goodwill on consolidation) 25,158.49 25,15849 Investment in joint ventures and associates 359.81 30200 Financial assets Loans 37.05 4088 Other financial assets 2,10296 180378 Deferred tax asset 11421 10147 Non-current tax assets (ne) 59376 695.68 Other non-current assets 166026 107596 Total non-current assets 66,815.87] 65,90224 Current assets Inventories 128,499.00 12432523 Financial assets Investments 2,659.75 134328 Trade receivables 251.93 22840 Cash and cash equivalents 6.799.45 7.790.43 Other bank balances 3,029.69 222790 Loans 4472 46.57 Other financial assets 174697 162251 Other current assets 6.806.81 496498 Total current assets 149,838.37] 142,549.30) ‘Assets held for sale 582727 6.927.03 Total assets 222,481.46] 21537857 EQUITY AND LIABILITIES Equity Equity share capital 2,780.07 2,780.07 Other equity 90.906.36 9589923 Total equity (for controlling shareholders of Holding Company) 93,686.43 98,679.30 Non-controlling interest 95868 960.58 Total equity 94,645.11 99,639.38) Non-current liabilitics Financial liabilities Borrowings 50,364.04 3261038 Lease liabilities 71081 830.70 Other financial liabilities 65.62 6672 Provisions 43413 43040 Other non-current liabilities 1281933 12,838.08 Deferred tax liabilities 8.734.68 882307 Total non-current liabi 73,128,61] 55,599.35] Current liabilities Financial liabilities Borrowings 1240443 19,565.50 Lease liabilities 23181 21479 Trade payables Dues to micro enterprises and small enterprises 406.05 574.10 Dues to creditors other than micro enterprises and small enterprises 6,629.63 8,741.07 Other financial liabilities 2,059.82 262474 Provisions 2,059.50 2,09720 Other current liabilities 30,887.73 26,108.70 Current tax liabilities (net) 2877 4138 Total current liabilities 54,707.74] 59,967.48] Liabilities pertaining to assets held for sale - 17136 Total liabilifies 127,836.35| 115,738.69) Total equity and liabilities 222481.46] 215,378.57]
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Embassy Developments Limited (Formerly known as Equinox India Developments Li CIN:L45101HR2006PLC095409 Registered Office : Office No 01-1001, WeWork, Blue One Square, Udyog Vihar Phase 4 Rd, ted) Gurugram, Haryana 122016 Statement of unaudited consolidated statement of cash flows for the half year ended September 30, 2026 FR— For the half year ended | For the half year ended September 30, 2026 September 30, 2025 Cash flow from operating activities Loss before tax (5,185.72)| (3,172.44) |Adjustments for: [Non cash and other adjustments: Fair value gain on financial instruments (52.92) (1.22) Profit on sale of investments (89.90) (34.51) Loss on sale of property, plant and equipment (net) 059 409 Finance costs 254091 291067 Interest income (251.81) (32830) Depreciation and amortization 267.04 15234 Guarantee (income) / expense (net) 770 (146) Balances written off 2287 - Employee stock option expense 6206 - Provision for onerous contract 86.90 - Amount written back ©.16) (11.56) Operating cash flow before working capital changes (2,601.44) (554.39) Working capital adjustments Changes in inventories (2.276.96)| 493567 Changes in non-current and current loans 5.68 (3147) Changes in other non-current and current financial assets (177.82)] (1,489.58)| Changes in current assets and non current assets (2.264.94) (30541) Changes in trade receivables (31.72)| (13.07) Changes in other financial liabilities (49245)| - Changes in other non-financial labilities 476028 175048 Changes in trade payables (2.279.50)| (182039 Changes in other non-current and current financial liabilities - 36351 Changes in provisions @197) (66.95) Cash (used in) / generated from operating activities before taxes (5,400.85) 2,768.40 Income taxes refund received (paid), (net) 3675 (8301) Cash (used in) / generated from operating activities (5364.10) 2,68539 Cash flow from investing activiti Interest income received 14884 17.90 Movement in fixed deposits, (net) (719.49) 14295 Investment in subsidiarics - (64.68) Payment for purchase of property, plant and equipment, investment property and investment property under development (61073 (57:50) Proceeds from sale of subsidiary 78584 - Proceeds from sale of property, plant and equipment 191 266 Movement in mutual funds (nct) (122705) (2859) [Net cash (used in) / generated from investing activities (1,620.68) 12.74 Cash flow from financing activities: Proceeds from issue of share capital including share premium (pursuant to share warrant conversion) - 12435.41 Proceeds from share warrants pending allotment - 71.09 Proceeds from borrowings 19,528.64 1587347 Purchase of non-convertible, redeemable debentures - (6450.00)) Payment of lease liabilties including interest (167.13) (99.70) Repayment of borrowings (11,096.15) (15,523.60) Finance costs paid (27156) (3,10746) [Net cash generated from financing activities 5,993.30 3,199.21 [Net (decrease) /increase in cash and cash equivalents (99098) 589734 Consolidation adjustment - 4634 Cash and cash equivalents at the beginning of the year 719043 1790.19 | Cash and cash equivalents at the end of the period 6,799.45 7,733.87 Components of cash and cash equivalents Cash on hand 072 081 Balances with banks -in current accounts 148238 647830 - in escrow account 166737 897.58 - in fixed deposits 364898 35718 6,799.45 7,733.87
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CHARTERED ACCOUNTANTS 508, Indra Prakash, 21, Barakhamba Road, New Delhi - 110001 Phone : 011-43516377 ¢ E-mail : contact@apnco.arg Independent Auditor's Review Report on Standalone Unaudited Quarterly and Year to Date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To The Board of Ditectors of Embassy Developments Limited (Formerly known as Lguinox India Developrents Limited) 1. N} We have reviewed the accompanying statement of standalone unaudited financial results (the Statement’) of Embassy Developments Limited (Formerly known as Equinox India Developments Limited) ('the Company') for the quarter ended 30 September 2026 and the year to date results for the period 01 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. The Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directots, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Intesim Financial Reporting (Ind AS 34, prescribed under section 133 of the Companies Act, 2013 ('the Act), read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an Audit. Accordingly, we do not express an audit opinion.
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Independent Auditor's Review Report on Standalone Unaudited Quarterly and Year to Date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosute Requirements) Regulations, 2015 (as amended) (Cont’d) 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with trecognition and measurement principles laid down in Tnd AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, ot that it contains any material misstatement. For Agarwal Prakash & Co. Chartered Accountants Firm's chmuatio:;jy Vikas Agval New Dol Partner Membership No.: 097848 UDIN: 26097848QQLHMM4822 Place: New Delhi Date: 03 November 2026
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A EMBASSY Embassy Developments Limited (formerly known as Equinox India Developments Limited) CIN:L45101HR2006PLC095409 Registered Offic + Office No 01-1001, WeWork, Blue One Square, Udyog Vihar Phase 4 Rd, Gurug m, Haryana 122016 Statement of unaudited standalone financial results for the quarter and half year ended September 30, 2026 (Rs. in millions unless otherwise stated) Quarter cnded Half year ended Year ended September30, | September30, | September30, | March1, :L Particulars SeRfember30 2006 | Tune 30,2020 2025 2026 2025 2026 4 Unaudited Unaudited Unaudited Unaudited Unaudited Audited (Refer note3) (Refer note3) [ Tncome Revenue from operations 736.88 129.45 165491 86633 276630 412187 Other income 162.96 14171 480.80 30467 62575 1,141.79 [Total Income 899.84 27116 2,13571 L171.00 3,392.05 5,263.66 2] Expenses Land, material and contract cost 53832 187.63 127128 72595 2,041.59 314581 Employee benefits expense 208.06 43987 32861 64793 688.65 1,500.54 Finance costs 42617 2421 56312 65044 134482 189217 Depreciation and amortisation expenses 80.12 7849 7433 158.61 13036 31143 Other expenses 29420 236.61 31893 53081 51088 138667 Total Expenses 1,546.87 1,166.87 2,55627 2,713.74 4,71630 823662 3 |Loss before exceptional items and tax (1-2) (647.03) (895.71)) @2056)| (5274 (132425 (2972.96) 4 | Exceptional items, net gain - - 500 - 500 1344 5 |Loss before tax (3+4) (647.03) (895.7D) @556 (5079 (1,31925) (2959.52) 6 [Less: Tax expense Current tax (Including earlier year taxes) - 9.82) (0.05) ©82) 9.94) (32.83) Deferred tax (credit) / charge (8.94) 16.99 (10.72) 8.05 (1648) (96.03) Total tax (credit) / charge (8.94) 717 (10.77) 77| (26.42) (128.86) 7_|Loss for the period / year (5-6) (638.09) (902.88) @479 (154097 (1,29283) (2,830.66)| 8 |Other comprehensive income / (loss) Items that will not be reclassified subsequently to profit o loss - Remeasurements of the defined benefit plans, net of (16.00) - 1802 (16.00) 18.02 1246 taxes [Other comprehensive income / (loss) for the period/ year, (16.00) - 18.02 (16.00)| 18.02 12.46 et of tax 9 [Total comprehensive loss for the period / year (7+8) (654.09), (902.38) G86.77)| (155697) (1,274.81)) (2,818.20)| 10 [Paid-up equity share capital (Face value of Rs 2 each) 278007 2.78007 274126 2,780.07 274126 278007 1T [Earnings per equity share (Face value of Rs 2 each) Basic (Rs.) (0.46) (065) (030) () 0.97) (2.08) Diluted (Rs.) (0.46) 0.65) 0.30) (.11 ©97) (2.08)| 12 | Other equity 11022345 See accompanying notes to the unaudited standalone financial results
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Embassy Developments Limited (formerly known as Equinox India Developments Limited) CIN:L45101HR2006PLC095409 Registered Office : Office No 01-1001, WeWork, Blue One Square, Udyog Vihar Phase 4 Rd, Gurugram, Haryana 122016 Statement of unaudited standalone financial results for the quarter and half year ended September 30, 2026 Notes: 1 The unaudited standalone financial results of Embassy Developments Limited (formerly known as Equinox India Developments Limited) ("EDL" or "the Company" ) for the quarter and half year ended September 30, 2026 have been reviewed by the audit committee and approved by the Board of Directors at their respective meetings held on November 03, 2026, The statement for the quarter & half year ended September 30, 2026 have been reviewed by the statutory auditors of the Company. The unaudited standalone financial results has been prepared in accordance with the Indian Accounting Standards (“Ind AS") prescribed under Section 133 of the Companies Act, 2013 read with rule 3 of Companies (Indian Accounting Standards) Rules, 2015 as amended and requirements of Regulations 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 as amended. ‘The figures for the quarter ended September 30, 2026 represents the balancing amounts between the unaudited standalone financial results for the half year ended September 30, 2026 and the unaudited standalone financial results for the quarter ended June 30, 2026. The figures for the quarter ended September 30, 2025 represents the balancing amounts between the unaudited standalone financial results for the half year ended September 30, 2025 and the unaudited standalone financial results for the quarter ended June 30,2025, 4 The Company's primary business segment is reflected based on principal business activities carried on by the Company. As per Indian Accounting Standard 108 as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in Section 133 of the Companies Act, 2013, the Company operates in one reportable business segment .. real estate development and other real estate related services and is primarily operating in India and hence, considered s single geographical segmen. Pursuant to Embassy Developments Limited Employee Stock Option Scheme — 2025 ("ESOS 2025) scheme, during the half year ended September 30, 2026, the Nomination and Remuneration Committee (NRC) approved additional grants of 5,36,798 Stock Options and 3,26,260 Performance Stock Units to eligible employees under the scheme. Further, 194,165 Stock Options were forfeited in quarter ended June 30, 2026 and 4,23,894 Stock Options were forfeited in quarter ended September 30, 2026 due to cessation of employment and other conditions specified under the scheme. Accordingly, as at September 30, 2026, the net outstanding Stock Options and Performance Stock Units under ESOS 2025 are 1,42,75,707 and 48,04,041 respectively. ‘The Board of directors and the shareholders vide resolution dated August 10, 2026 and September 08, 2026 respectively approved issuance of 3,25,18,900 unlisted convertible warrants to Embassy Property Developments Private Limited (member of the Promoter Group) at an exercise price of Rs. 111,51 per warrant, convertible into an equivalent number of fully paid-up equity shares of face value of Rs. 2 each. The entire warrants were allotted on October 12, 2026, subsequently the Company has received the full consideration of Rs. 3,626.18 millions and the respective warrants have been fully converted into equity shares. ‘The Company had a wholly owned subsidiary Ms Sinnar Thermal Power Limited (“STPL") which was carrying on power generation business. Subsequently in the financial year 20112012 STPL was demerged into a third-party entity (Demerger). Post Demerger STPL was not under the control of the Company and was managed by a separate promoter entity not related to the Company viz Rattan India Power Limited and Rattan India Enterprises Limited (the New Promoters). During the previous years, financial years 20102011, 2013-2014, and 2016-2017, STPL had approached a consortium of banks for certain credit faciliies. Accordingly, along with other consortium members, the Tender, then known as “Syndicate Bank”, specifically sanctioned credit facilties aggregating to Rs. 1,444.00 millions to STPL. In 2010- 11 prior to the Demerger the Company had issued a conditional corporate guarantee guaranteeing equity infusion into STPL. This corporate guarantee was replaced in 201 1-12 pursuant to the demerger where the Company's obligations were revised to infuse equity only in case if equity is not infused by the New Promoters. Further post demerger and transfer of control to New Promoter in the financial year 2017-18, STPL defaulted in repayment of facilities availed from the consortium and was classified as a Non-Performing Asset (NPA) and is undergoing CIRP process. ‘The lender invoked the corporate guarantee on the Company and the New Promoters claiming the corporate guarantee requires the Company to repay loans due to the lender, pursuant to which, a Corporate Insolvency Resolution Process (“CIRP") and related appointment of an Interim Resolution Professional ("IRP") was initiated against the Company through an order dated December 9, 2025 of the National Company Law Tribunal (“NCLT"), Delhi Bench, under the provisions of the Insolvency and Bankruptey Code, 2016 (“Code™). Immediately pursuant o the CIRP being initiated against the Company, the Company had filed an appeal with National Company Law Appellate Tribunal (“NCLAT") and vide NCLAT's order dated December 11, 2025, the CIRP and IRP appointment was stayed pending adjudication of the appeal by NCLAT. Subsequent to detailed hearings, NCLAT pronounced its judgement on May 04, 2026, allowing the Company’s appeal and dismissing the Section 7 application filed by the lender. Further to the NCLAT judgment, the lender filed an appeal before the Hon'ble Supreme Court under Section 62 of the IBC, seeking restoration of the NCLT admission order. On August 31, 2026, the Hon’ble Supreme Court condoned the lender's delay in re-filing the appeal, issued notice to the Company and listed the matter for further hearing. However, no stay was granted on the NCLAT judgment and the matter is being contested. ‘The NCLAT judgment dated May 4, 2026, therefore, remains in effect, and the NCLT admission order continues to be set aside. As the Hon’ble Supreme Court has not granted any stay, no Corporate Insolvency Resolution Process (CIRP) is curently pending against the Company. The Company continues to operate in the normal course of business, with no impact on its operations, governance, financial position or business actvitis. During the half year ended September 30, 2026, the Registrar of Companies approved the strike off of four non-operational subsidiaries (including three step~down subsidiaries and one foreign subsidiary) of the Company. ‘The Company, along with one of its subsidiaries, entered into a Share Purchase Agreement to sell its shares in another subsidiary for a total consideration of Rs.1,000.00 ‘millions. The share transfer was completed on April 16, 2026 10 Previous period/year mumbers have been regrouped/reclassified wherever considered necessary. d financial results are also available on the Company's website (www.embassyindia.com) and also available on the Stock Exchanges websites (www.bseindia.com nseindia.com) n behalf of board of Directors aging Director Place: Bengaluru Date: November 03, 2026
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Embassy Developments Limited CIN:L45101HR2006PLC095409 (formerly known as Equinox India Developments Limited) Registered Office : Office No 01-1001, WeWork, Blue One Square, Udyog Vihar Phase 4 Rd, Gurugram, Haryana 122016 Unaudited standalone balance sheet as at September 30, 2026 (Rs. in millions unless otherwise stated) Asat Asat rs«t e i September 30,2026 March 31, 2026 Unaudited Audited A [ASSETS I |Non-current assets (a) Property, plant and equipment 1,032.06 1,134.82 (b) Investment property 542.90 573.83 (c) Intangible assets 023 071 (d) Capital Work in Progress 84.64 s (¢) Investment property under development 205.84 366.17 (£) Goodwill 18,542.15 18,542.15 (g) Investments in subsidiarics, joint ventures and associates 92,877.31 9282236 (h) Financial assets (i) Investments - 19629 (i) Loans 112 10.88 (iii) Other financial assets 92.96 101.50 (i) Non-current tax assets (net) 168.23 237.63 (j) Other non-current assets 1,087.60 643.74 Total non-current assets 1,14,635.04 1,14,630.08 11 |Current assets (a) Inventories 9,482.90 7.949.17 (b) Financial assets (i) Investments 350.72 294720 (ii) Trade receivables 4.90 61.35 (iii) Cash and cash equivalents 2,665.38 312515 (iv) Other bank balances 690.68 1151 (v) Loans 32,327.56 27372.10 (vi) Other financial assets 2,817.20 2737.82 () Other current assets 1332.14 751.93 Total current assets 49,671.48 4495623 Total assets 1,64,306.52 1,59,586.31 B |EQUITY AND LIABILITIES 1 |Equity (a) Equity share capital 2,780.07 278007 (b) Other equity 108,879.50 110223.45 Total equity 1,11,659.57 1,13,003.52 1 |Non-current liabilities (a) Financial liabilities (i) Borrowings 15,554.42 519324 (ii) Lease liabilities 519.62 618.39 (iii) Other financial liabilities 90.38 9170 (b) Provisions 12589 239.13 (c) Deferred tax liabilities (net) 3.009.73 3,007.07 Total non-current liabilities 19,300.04 9,149.53 I |Current liabilities (a) Financial liabilities (i) Borrowings 8,691.20 13,795.47 (ii) Lease liabilities 190.95 177.70 (iii) Trade payables Total outstanding dues of micro enterprises and small enterprises 19676 292.92 Total outstanding dues of creditors other than micro enterprises and small 3,108.08 4,605.11 enterprises (iv) Other financial liabilities 179921 1877.56 (b) Provisions 1838 28.28 (c) Other current liabilities 19,342.33 1665622 Total current lia 33,346.91 3743326 [Total equity and liabilities 1,64,306.52 1.59,586.31 Sec accompanying notes to the unaudited standalone financial results
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Embassy Developments Limited (formerly known as Equinox India Developments Limited) CIN:L45101HR2006PLC095409 Registered Office : Office No 01-1001, WeWork, Blue One Square, Udyog Vihar Phase 4 Rd, Gurugram, Haryana 122016 (Cash flows from operating activities Statement of unaudited standalone cash flows for the half year ended September 30, 2026 (Rs. in millions unless otherwise stated) Loss before tax (1,542.74) (1,324.25) Adjustments for: Finance costs 65044 134260 Profit on sale of investments @.13) (1.20) Loss on sale of property, plant and equipment (net) 059 409 [Fair value gain on financial instruments (642) (245) Guarantee commission income (28.95) (1220) Interest income (143.01) (460.14) Depreciation and amortisation expenses 15862 13036 Liabilites no longer required written back - 65.12) [Provision for onerous contract 86.90 - Provision for doubtful advances 415 f Employec stock option cxpense 2.0 . (Operating loss before working ca (782.45) @78.D)| Movements in working capital: (Changes intrade receivables 5645 78.16 Changes in inventorics 962.10) 1,045.83 Changes in loans, financial assets and other assets ©77.47) (1.019.01) (Changes intrade payables, financial lisbilities and other labilties 1,006.74 (1439.89) Changes in provisions (144.02) 8.36) Cash used in operations (1.802.85) (1.721.58) Income tax refund received /(paid), (net) 5046 (1072) Nt cash used in operaing activities (A) (1,752.39) W732.30) Cash flows from investing activties Proceeds from sale of property, plant and cquipment 191 266 [Purchase of property, plant and equipment and investment in investment property under development (127.28) (31.24) Inter-corporate deposits (given)/rcpayment received, (net) 4969.74) 2891 Interest income 85.62 24413 Investment i fixed deposits, (net) (645.41) s Investment in subsidiarics < (64.68) Proceeds from sale of subsidirics 024 010 Investment in debentures - (6450.01) Proceeds from redemption of investments 311039 128449 Investment in mutual fand, (net) (07.30) (587) Net cash used in investing activities (B) (2.851.57) G0 Cash flows from financing activities Proceeds (rom share warrants pending allotment : 7109 Payment of lease liabilities (including interest) (133.70) (98.49) Proceeds from issue of share capital ineluding share premium (pursuant to share warrant conversion) - 1243541 Proceeds from borrowings 13,654.80 749991 Repayments of borrowings (8786.23) (1118583 Finance costs paid (590.68) (1006.99) Net cash generated from financing activities ( C) 414419 7,715.10 [Net (decrease)! increase in cash and cash equivalents (A+B+C) 459.77) 9129 Cash and cash cquivalents at the beginning of the period 312515 103757 |Cash and cush equivalents at the end of the period 266538 1.998.86 Break up of cash and cash equivalents at the end of the period sewmb“e’r';m o Septemh‘:r‘;fl, i Balances with banks in current accounts 260.95 110163 in escrow account 482,61 59723 - in fixed deposits 1921.82 2 [Cash and cash equivalents at the end of the period 266538 1998.86