Debt financing
Embassy Developments to raise Rs.1,570-Cr via NCDs
Business Standard Embassy Developments
Real estate developer Embassy Developments is to raise INR 1,570 crore via through non-convertible debentures (NCDs). The company plans to issue senior, secured, redeemable, unrated, and unlisted NCDs on a private placement basis in one or more tranches.Embassy Developments , formerly known as Equinox India Developments, has a presence across seven Indian cities with more than 40 projects.It plans to utilize the funding proceeds for refinancing existing debt, project construction, working capital requirements, and other general corporate purposes.The company recently signed a non-binding memorandum of understanding with the Uttar Pradesh government for a proposed commercial development in Lucknow. The project is expected to span 2.5 to 3 million square feet with an investment of INR 1500 crore.
Between Jul 2007 and Nov 2025, Embassy Developments had attracted about USD 1,983 million from Kotak Realty, Blackstone and Farallon Capitals.For FY26, Embassy Developments had reported about INR 412.19 crore in Operating Income and about INR 283.04 crore in Net Loss.
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