Embassy Developments Eyes ₹1,500 Cr Q3 Pre-Sales Amid NCLT Stay, Confident of Resolution

• Embassy Developments expects ₹1,500 crore pre-sales in Q3, aiming for ₹5,000 crore FY guidance, despite ongoing NCLT proceedings.
• NCLT admitted Canara Bank's insolvency plea against Embassy as guarantor for Sinnar Thermal Power, but NCLAT immediately stayed the order.
• MD Aditya Virwani states Embassy was an "equity backstop committer," not a corporate guarantor, with no operational link to Sinnar Thermal Power.
• The company asserts its strong balance sheet (₹10,000 crore net worth, 0.35 D/E) can manage the ₹370 crore disputed exposure.
• Embassy is engaging with NSE and BSE to clarify its position after being placed under the ASM framework, confident of resolution by January 22 hearing.

Why It Matters: Embassy Developments projects strong sales and financial stability despite NCLT challenge, expects quick resolution.