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EMBASSY-RR Fair Value & Analysis

Real Estate · IN · Market cap ₹424B (≈ $4.5B) · ISIN INE041025011

What is EMBASSY-RR really worth?

ER EMBASSY-RR EMBASSY-RR · NSE
Price₹438.69
Fair Value₹134.34
Upside−69.4%
Quality48/100

Below-average quality, and trading another 227% above our fair value of ₹134.34.

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Strengths

Moderate debt · generates free cash flow

Risks

!Expensive Growth (revenue 5y +13.5 %/yr)
!Thin margins · 0.0% net margin
!Mixed vs. peers (5/11)
!Narrow moat 40/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range ₹47.10 – ₹189.17

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from ₹150.09 to ₹134.34 (−10.5%) since Jul 9, 2026. Share price +0.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹189.17). The favourable scenario is already priced in.
  • The model range is unusually wide (₹47.10 to ₹189.17). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹461.00 ₹291.47 Fair Value ₹134.34 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹291.47 – ₹461.00 · fair‑value band ₹47.10 – ₹189.17 · the ₹438.69 price screens above the ₹134.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

EMBASSY-RR (EMBASSY-RR) currently trades at ₹438.69, while our model-based Fair Value estimate is ₹134.34, implying the stock looks roughly 226.6% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Real Estate sector. Bull case: the Dividend Discount group reads highest at a median of ₹412.68 per share, and 3 of the 14 models we run sit above the ₹438.69 price. Bear case: the Asset-Based group reads lowest at ₹144.05, and 11 of the 14 models stay below the price. Evidence for this calculation is low.

It earns a return on equity of 131.5%. Net debt stands at ₹216B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹47.10 (bear case) to ₹189.17 (bull case); at ₹438.69, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 16% above its 52-week low. For context, the median of 10 Real Estate peers we cover trades at −22% fair-value upside, at −69%, EMBASSY-RR screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF ₹31.90 77
Residual Income ₹153.12 ₹147.21 ₹116.34 76
Growth DCF ₹23.99 75
All 16 models by family
DCF Models
FCF DCF ₹31.90 77
5Y Revenue Exit ₹29.92 ₹191.05 ₹415.18 65
5Y EBITDA Exit ₹182.84 ₹504.84 ₹916.07 71
10Y Revenue Exit ₹127.44 ₹356.09 64
10Y EBITDA Exit ₹95.58 ₹362.05 ₹783.16 62
Dividend Discount
Gordon GGM ₹230.76 ₹503.78 ₹847.63 65
DDM Multi-Stage ₹230.76 ₹412.68 ₹525.02 66
Multiples
P/S Multiple ₹44.66 ₹59.55 ₹74.43 58
P/B Multiple ₹44.66 ₹59.55 ₹74.43 55
EV/EBIT ₹262.93 ₹395.89 ₹528.85 65
EV/EBITDA ₹339.26 ₹497.66 ₹656.06 66
EV/Revenue ₹84.04 ₹178.32 ₹272.60 51
Asset-Based
NCAV (Graham) ₹107.50 ₹144.05 ₹215.00 54
Growth DCF
Growth DCF ₹23.99 75
Rev-Margin DCF ₹29.92 ₹183.64 ₹380.45 66
Economic Profit
Residual Income ₹153.12 ₹147.21 ₹116.34 76

Widest divergence: Dividend Discount (₹412.68) versus Asset-Based (₹144.05). Highest evidence: FCF DCF (77).

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Key figures & financial health

Dividend yield 5.5%
Net margin 7.2% FY2026
Return on equity 132% TTM
Return on assets (EBIT) 6.0% avg 5y
Free cash flow ₹3.6B FY2026
Net debt ₹216B FY2026 · ≈ 60.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 47 · Market factors (momentum, volatility) 65

Profitability 17
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

EMBASSY-RR reported revenue of ₹46.8B in FY2026 versus ₹30.8B in FY2022, a compound +11.0%/yr. Reported net income was ₹3.4B in FY2026, compounding −21.4%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹46.8B
Latest YoY
+12.0%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.5%
Avg. revenue growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.6%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+4.7% (−0.8 + 5.5)
Revenue +11.0%/yr
FY22 ₹30.8B
FY23 ₹35.6B
FY24 ₹38.7B
FY25 ₹41.8B
FY26 ₹46.8B
Net income −21.4%/yr
FY22 ₹8.9B
FY23 ₹5.1B
FY24 ₹9.6B
FY25 ₹16.2B
FY26 ₹3.4B
Character of growth · EPS growth decomposed (2016-2026) +23.2 % p.a.
Revenue per share +9.5 %

of which total revenue +12.2 % · buybacks/dilution −2.4 %

EBIT margin −2.2 %
Tax rate +0.5 %
Residual (interest, one-offs) +14.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

EMBASSY-RR screens 227% overvalued. Compare with MERLIN Properties SOCIMI, S.A →

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Cite: Fair Value Calculator (2026). "EMBASSY-RR Fair Value". https://www.fairvalue-calculator.com/stock/EMBASSY-RR

Peer Group

REIT - Office · 69 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 49 · Below median
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 132% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 0% · Above median
Dividend yield (TTM) 5.5% · Below median
Debt / equity 0.68× · Lower than median

Valuation Multiples vs REIT - Office median · lower = cheaper

P/FCF 1.3× · Cheaper than median
EV/EBITDA 3.5× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 24
FUTURE0 · sector 0
PAST100 · sector 11
HEALTH66 · sector 66
DIVIDEND100 · sector 100

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
MERLIN Properties SOCIMI, S.A MRL €13.51 €5.66 −58%
BXP, Inc BXP $67.95 $53.27 −22%
Vornado Realty Trust VNORP $51.00 $40.45 −21%
Alexandria Real Estate Equities, Inc ARE $51.63 $58.69 +14%
Gecina GFC €67.25 €75.35 +12%
Hudson Pacific Properties, Inc HPP $12.74 $3.81 −70%
Mapletree Pan Asia Commercial Trust N2IU 1.27 SGD 1.14 SGD −10%
Cousins Properties Incorporated CUZ $29.25 $17.46 −40%
Embassy Office Parks REIT owns, EMBASSY ₹435.90 ₹141.82 −67%
DEXUS DXS A$5.96 A$4.49 −25%

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Frequently asked questions

Is EMBASSY-RR overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹134.34 versus a price of ₹438.69, about −69% upside (overvalued).
What is the fair value of EMBASSY-RR?
Our model-based fair value for EMBASSY-RR is ₹134.34 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹438.69.
What is the quality score of EMBASSY-RR?
EMBASSY-RR has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the net profit margin of EMBASSY-RR?
The net profit margin of EMBASSY-RR is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does EMBASSY-RR pay a dividend?
EMBASSY-RR currently shows a dividend yield of about 5.47% relative to its recent price (as of Aug 13, 2026).
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