Embassy Developments Ltd on Thursday rose 20 per cent, in addition to a 20 per cent rally in the preceding session and a 5 per cent jump on May 4. The recent rally on the counter was seen as the real estate developer exited from the IBC classification and Additional Surveillance Measure (ASM) framework, resuming normal trading on BSE and NSE from  May 6. This comes after a favourable order passed by the National Company Law Appellate Tribunal (NCLAT) on May 4, 2026, which set aside the order admitting insolvency proceedings against the company. 

"Consequently, the Corporate Insolvency Resolution Process (CIRP) stands quashed, with all related directions terminated," Embassy Developments said in a press release. Embassy Developments in a press note said the development provided added clarity for all stakeholders, following the closure of the insolvency proceedings. 

On Thursday, the stock rose 20 per cent to hit its upper circuit limit at Rs 69.58.  Embassy Developments continued to remain financially sound and operational without any impact on its business operations, project execution, or growth plans, the company said.

Taking about the business performance, Embassy Developments said it delivered a strong operational performance in FY26, with total pre-sales of approximately Rs 4,631 crore, reflecting 128 per cent year-on-year (YoY) growth. It said the Q4 FY26 marked highest-ever quarterly bookings at Rs 2,632 crore, driven by strong demand across key launches.

"Collections during the year remained steady, with total collections reaching Rs 1,721 crore in FY26. The company also witnessed strong traction from new launches during the quarter, with Embassy Citadel, Worli, and Embassy Verde 2, Bengaluru, achieving combined pre-sales of Rs 1,385 crore. Additionally, it secured RERA registration for Phase I of Embassy Serenity, Alibaug, which is slated for launch in Q1 FY27," Embassy Developments said.

Embassy Developments said it remained well-positioned to sustain growth and deliver long-term value to its stakeholders, citing sales momentum, healthy collections, and a steady pipeline of launches.