Modern day Field Programmable Gate Arrays (FPGA) include in addition to Look-up Tables, reasonably big configurable Embedded Memory Blocks (EMB) to cater to the on-chip memory requirements of systems/applications mapped on them. While mapping applications on to such FPGAs, some of the EMBs may be left unused. This paper presents a methodology to utilize such unused EMBs as large look-up tables to map multi-output combinational sub-circuits of the application, with depth minimization as the main objective along with area minimization in terms of the number of LUTs used. Depth minimization is an important goal while mapping performance driven circuits. Experimental results show that our proposed methodology, when employed on popular benchmark circuits, leads to upto 14% reduction in depth compared with the DAG-Map, along with comparable reduction in area.