Equinox India Developments Limited (EMBDL) Fair Value & Analysis
Real Estate · IN · Market cap ₹87.4B
Fair value as of: Jul 5, 2026
From 6 valuation models · updated 3 days ago
Share price +10.4% over the past month.
Price vs Fair Value (12 months)
12‑month range ₹39.48 – ₹119.60 · fair‑value band ₹15.56 – ₹29.48 · the ₹62.90 price screens above the ₹23.58 fair value. As of Jul 5, 2026.
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Equinox India Developments Limited (EMBDL) currently trades at ₹62.90, while our model-based Fair Value estimate is ₹23.58 — implying the stock looks roughly 62.5% overvalued today. We read business quality at 17/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: low).
Over the trailing twelve months, Equinox India Developments Limited generated revenue of ₹17.3B at a net margin of -50.4%. Revenue declined 73.0% year over year. It earns a return on equity of -9.1%. Net debt stands at ₹44.4B. Fundamentals as of Jul 5, 2026
Our scenario range runs from ₹15.56 (bear case) to ₹29.48 (bull case); at ₹62.90, the current price sits above that range. The share trades about 48% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 21% fair-value upside — at -63%, EMBDL screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 5, 2026. TTM = trailing twelve months.
About the company
Equinox India Developments Limited operates as a real estate company in India. The company engages in the provision of real estate properties advisory, properties marketing, engineering, industrial, and technical consultancy services; maintenance of completed properties; construction and development of real estate properties; and other ancillary services. Its project portfolio includes residential and commercial, as well as SEZ projects. The company was formerly known as Indiabulls Real Estate Limited and changed its name to Equinox India Developments Limited in June 2024. Equinox India Developments Limited was incorporated in 2006 and is based in Mumbai, India.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Equinox India Developments Limited reported revenue of ₹17.3B in FY2026 versus ₹14.3B in FY2022, a compound +4.8%/yr. Reported net income was −₹8.7B in FY2026.
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Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vinhomes Joint Stock Company VHM | 146,800 VND | 148,549 VND | +1% |
| DLF Limited DLF | ₹577.70 | ₹263.02 | -54% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,150 IDR | 1,330 IDR | -78% |
| Lodha Developers Limited LODHA | ₹894.45 | ₹721.45 | -19% |
| Oberoi Realty Limited OBEROIRLTY | ₹1,633 | ₹1,368 | -16% |
| Godrej Properties Limited GODREJPROP | ₹1,708 | ₹2,070 | +21% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 595.00 IDR | 1,363 IDR | +129% |
| Khang Dien House Trading and Investment Joint Stock Company KDH | 23,650 VND | 32,607 VND | +38% |
| PT Ciputra Development Tbk, CTRA | 575.00 IDR | 1,438 IDR | +150% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.