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Embassy Developments Limited completed the sale of its 100% stake in subsidiary Sepset Real Estate Limited to Pen India Private Limited on April 16, 2026. Consequently, Sepset has ceased to be a subsidiary of the company. This divestment follows the Share Purchase Agreement executed on April 12, 2026.
Embassy Developments Limited has agreed to sell its subsidiary, Sepset Real Estate Limited, to Pen India Limited for ₹100 Crore. The transaction is expected to conclude by June 10, 2026. The buyer is not a related party, and the sale was conducted at arm's length.
Embassy Developments Limited entered an agreement to sell its 100% stake in subsidiary Sepset Real Estate Limited to Pen India Limited for ₹100.00 Crore. Sepset owns the 'Mega Mall' project in Jodhpur. The transaction aims to unlock value and strengthen the company's balance sheet, with completion expected within 60 days.
Embassy Developments Limited provided an update on its NCLAT hearing regarding a stayed NCLT insolvency order involving a ₹370 crore contingent liability. The NCLAT adjourned the matter to April 17, 2026. Separately, the company reported record FY26 pre-sales of ₹4,631 crore, reflecting strong operational performance despite temporary stock exchange surveillance measures.
Embassy Developments reported its highest-ever quarterly pre-sales of ₹2,632 crore in Q4 FY26, up 89% QoQ. Annual FY26 pre-sales reached ₹4,631 crore, achieving 93% of guidance. The company also launched two new projects and received RERA approval for another in Alibaug, while maintaining a net debt of ₹2,937 crore.