INDIABULLS REAL ESTATE LTD.

Embassy Developments Limited has allotted 93,18,900 equity shares following the conversion of remaining warrants held by Embassy Property Developments Private Limited, a promoter group entity. This conversion, which brought in INR 77,93,62,904.25 (approximately ₹78 Crore), completes the full conversion of all 3,25,18,900 warrants issued on October 12, 2026. The allotment was made at an exercise price of INR 111.51 per share. Consequently, the company's paid-up equity share capital has increased to INR 284,63,04,666, and the promoter and promoter group's shareholding has risen from 43.62% to 43.99%. The early and full conversion of warrants demonstrates the promoter group's confidence in the company's long-term prospects.

Embassy Developments Ltd has executed a Share Purchase Agreement to acquire the remaining 50% equity stake in its joint venture, Embassy Columbia Pacific ASL Private Limited, from CP Senior Housing (India) LLC. The acquisition, valued at ₹32,65,27,241/- (₹32.65 Crore) in cash, is expected to be completed within the current quarter ending December 31, 2026. Upon completion, Embassy Columbia will become a wholly owned subsidiary, consolidating the company's interest and strengthening its control over the entity. The acquisition aims to enhance operational integration and consolidate the company's position in the senior living residential project, Embassy Serene Amara.

Embassy Developments Ltd has announced that its Board of Directors will convene on November 3, 2026. The primary agenda item is to consider and approve the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Additionally, the company informed that the trading window for dealing in its securities will remain closed until November 5, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations.

Embassy Developments Ltd has allotted 1,22,00,000 equity shares following the conversion of warrants by Embassy Property Developments Private Limited. The conversion involved exercising 1,22,00,000 warrants at an exercise price of INR 111.51 per share, with a balance consideration of INR 1,02,03,16,500 received. This allotment increases the company's paid-up equity share capital to INR 2,82,76,66,866, comprising 1,41,38,33,433 equity shares. The Promoter and Promoter Group's aggregate shareholding has consequently risen from 43.13% to 43.62% of the enhanced paid-up equity share capital.

Embassy Developments Ltd has allotted 1,10,00,000 equity shares following the conversion of an equivalent number of warrants. This conversion was exercised by Embassy Property Developments Private Limited, a promoter group entity. The company received a balance consideration of INR 91,99,57,500 (75% of the exercise price) for these warrants. The newly issued shares rank pari passu with existing equity shares. This allotment increases the company's paid-up equity share capital to INR 2,80,32,66,866, comprising 1,40,16,33,433 equity shares. Consequently, the aggregate shareholding of the Promoter and Promoter Group has increased to 43.13% of the enhanced paid-up equity share capital.

Embassy Developments Ltd has received a revised disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, pertaining to Bellanza Developers Pvt Ltd & PACs. The disclosure details transactions involving equity shares and warrants. Bellanza Developers converted warrants into 1,34,76,567 equity shares, and JV purchased 3,48,500 equity shares from the open market. EPDPL was allotted 3,25,18,900 unlisted warrants convertible into equity shares. These transactions represent a change in the overall shareholding of the promoter group.

Embassy Developments Ltd has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. Bellanza Developers Pvt Ltd and Persons Acting in Concert (PACs) have acquired 1,38,25,067 Equity Shares and 3,25,18,900 Warrants. This acquisition represents a transaction of 0.9942% of the total share capital. The acquisition involved the conversion of warrants into equity shares and open market purchases. Following the transaction, the total holding of Bellanza Developers and PACs in Embassy Developments stands at 59,34,77,623 Equity Shares and 3,25,18,900 Warrants, representing 42.6768% of the total share capital.

Embassy Developments Ltd has allotted 3,25,18,900 unlisted convertible warrants to Embassy Property Developments Private Limited, a promoter group member. The warrants are convertible into equity shares at an exercise price of INR 111.51 each. The company received subscription money of ₹90.65 Crores (25% of the aggregate exercise price). The allotment does not change the current share capital. The warrants can be exercised within 6 months upon payment of the remaining 75% exercise price. This preferential allotment was approved by shareholders and received in-principle approval from stock exchanges.

Embassy Developments Ltd announced changes in its Board and Key Managerial Personnel. Mr. Sachin Shah has resigned from his position as CEO & Executive Director, effective from the close of business hours on December 31, 2026. He will, however, remain associated with the company and Embassy Group as Senior Advisor to the Chairman and the Managing Director & CEO, starting January 1, 2027. Concurrently, Mr. Aditya Virwani, currently the Managing Director, has been re-designated as "Managing Director & CEO" of the company, effective January 1, 2027. His re-designation is for the remainder of his existing term, which is until February 24, 2030, on the same terms and conditions. The Board believes this move ensures continuity and stability of leadership, facilitating a seamless transition and strengthening strategic alignment.

Embassy Developments Ltd reported significant operational growth for Q2 FY27 ended September 30, 2026. The company achieved pre-sales of approximately INR 3,225 crore, a substantial increase of 272% compared to INR 868 crore in Q1 FY27. For H1 FY27, pre-sales reached INR 4,093 crore, marking a 574% growth over H1 FY26 and meeting 51% of the FY27 guidance. Collections in Q2 FY27 were INR 546 crore, up 10% sequentially, with H1 FY27 collections at INR 1,041 crore, a 53% increase year-on-year, meeting 35% of the FY27 guidance. The company also launched three new projects in Q2 FY27 with a Gross Development Value (GDV) of INR 7,500 crore, including notable sales for Embassy Origins Riverine and Embassy Origins South Reserve in Bengaluru, and Embassy Terraza in Mumbai, which saw a record single home residential transaction. Net institutional principal outstanding stood at INR 3,732 crore as of September 30, 2026, after accounting for INR 1,258 crore in cash and cash equivalents.