If you’ve been tracking the Equinox India Developments share price, you know the “quiet” days are officially over. Formerly known as Indiabulls Real Estate, this stock has undergone a massive identity shift. With the merger with Nam Estates and the takeover by the powerhouse Embassy Group, the company—now officially Embassy Developments Limited (EDL)—is a different beast entirely.
But here’s the million-dollar question: Does the current share price reflect a bargain, or is the market still waiting for the dust to settle? Let’s cut through the noise and look at the hard data.
Key Takeaways: The 30-Second Snapshot
The Rebrand: Equinox India has officially transitioned to Embassy Developments Limited (EMBDL).
Recent Performance: The stock has seen significant volatility, recently trading in the ₹60–₹65 range after a sharp correction from its 52-week high of ₹163.69.
The Growth Engine: A massive 45 million sq. ft. saleable area and a 3,000-acre land bank underpin future value.
Financial Health: Debt-to-equity remains manageable at 0.37x, but recent quarterly profits have been under pressure during the integration.
The Numbers Behind the Equinox India Share Price
Understanding the Equinox India Developments share price requires looking past the ticker symbol. Since the merger implementation on January 24, 2025, the stock has been a battleground between long-term bulls and short-term skeptics.
Current Market Standing (As of February 2026)
The stock is currently hovering around the ₹63.46 mark. While that’s a far cry from its peak, technical indicators suggest it’s in a consolidation phase. The 200-day Moving Average (DMA) sits significantly higher at ₹93.62, indicating that the stock is currently “oversold” in many traders’ eyes.
| Metric | Current Value (Approx.) |
| Market Cap | ₹8,726 Cr |
| 52-Week High/Low | ₹163.69 / ₹55.69 |
| P/B Ratio | 0.83 (Attractive vs Sector) |
| Debt-to-Equity | 0.21 – 0.37 |
| Promoter Holding | 42.65% (Embassy Group) |
Why the Market is Watching This Stock Closely
Why should you care about a stock that’s down from its highs? Because real estate is about land and execution—and Equinox (now Embassy) has both in spades.
1. The “Embassy” Factor
Jitendra Virwani and Aditya Virwani have taken the helm. For the uninitiated, Embassy is the group that launched India’s first REIT. Their ability to institutionalize real estate is world-class. If they can apply the “Embassy Standard” to the legacy Indiabulls portfolio, the upside could be substantial.
2. Massive Project Pipeline
The company isn’t just sitting on land. They have eight new project launches planned for FY 2026, totaling 7.7 million sq. ft. with a Gross Development Value (GDV) of approximately ₹15,000 crore. This isn’t just growth; it’s an aggressive land grab in high-demand markets like North Bengaluru and Mumbai.
3. Institutional Interest
Foreign Institutional Investors (FIIs) hold about 25.3% of the company. While they trimmed their holdings slightly in late 2025, the substantial stake suggests that big money is still betting on the long-term structural turnaround.
Potential Risks: Look Before You Leap
It’s not all sunshine and high-rises. The company reported a net loss in recent quarters (e.g., ₹153 Cr in Sep 2025) as it navigated the high costs of merger integration and debt servicing.
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Execution Risk: Can they deliver these massive projects on time?
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Interest Rates: As a real estate player, the stock is sensitive to RBI rate hikes.
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Legacy Issues: Clearing the decks of older Indiabulls projects has been a slow process.
FAQ: People Also Ask
Is Equinox India Developments now Embassy Developments?
Yes. Following the merger with Nam Estates (an Embassy Group entity), the company was officially renamed Embassy Developments Limited (EDL) in February 2025. You will see it listed under the ticker EMBDL on the NSE and BSE.
What is the 52-week high for Equinox India?
The 52-week high reached ₹163.69. Since then, the stock has corrected, creating a potential entry point for those who believe in the Embassy Group’s management capabilities.
Should I buy Equinox India shares for the long term?
Analysts are mixed. While many technical indicators suggest a “Sell” or “Neutral” in the short term due to bearish moving averages, fundamental analysts point to the 0.83 Price-to-Book ratio as a sign that the stock is undervalued relative to its massive land bank.
Final Verdict: A Turnaround Play in Progress
The Equinox India Developments share price is currently reflecting a period of transition. We are moving from a legacy of volatility to a future of institutionalized growth. If you’re a swing trader, the current sideways movement might be frustrating. However, if you’re a value investor looking at a “new” real estate giant being born from the ashes of the old, this is a stock you cannot afford to ignore.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in the stock market involves risk. Always consult with a certified financial advisor before making investment decisions.