Embassy Developments Ltd’s shares resumed normal trading on the BSE and NSE on Wednesday after the National Company Law Appellate Tribunal (NCLAT) overturned the insolvency proceedings against the Mumbai-listed real estate developer.

The NCLAT passed its order on May 4, setting aside the earlier admission of insolvency and quashing the Corporate Insolvency Resolution Process (CIRP) in its entirety. The company’s shares have also exited the Additional Surveillance Measure (ASM) framework that had been imposed alongside the IBC classification.

The developer said its business operations, project execution, and growth plans remain unaffected by the proceedings.

The legal resolution comes as Embassy Developments reported its strongest sales year-to-date. The company recorded pre-sales of approximately ₹4,631 crore in FY26, up 128 per cent year-on-year. The fourth quarter alone delivered pre-sales of ₹2,632 crore — the highest in the company’s history — while full-year collections stood at ₹1,721 crore.

During Q4 FY26, two new launches — Embassy Citadel in Worli, Mumbai, and Embassy Verde 2 in Bengaluru — together generated pre-sales of approximately ₹1,385 crore. The company has also secured RERA registration for Phase I of Embassy Serenity in Alibaug, with a launch planned for Q1 FY27.

Embassy Developments, formerly known as Indiabulls Real Estate Ltd, focuses on residential and commercial development across Bengaluru, the Mumbai Metropolitan Region, and the National Capital Region, with additional presence in Chennai and Indore. It carries a long-term debt rating of IVR A- (Stable) from Infomerics.

Published on May 6, 2026