Ajmera Realty Reports 42% YoY Growth in Collections, Eyes 1,000 Home Deliveries in H2 FY26
Ajmera Realty & Infra India Ltd, a prominent real estate developer in cities like Mumbai, Ahmedabad, and Bengaluru, reported a robust 42% YoY growth in collections for Q1 FY26, despite regulatory delays impacting sales. The company plans to deliver 1,000 homes by H2 FY26, focusing on Mumbai and Bengaluru’s high-growth markets.
Real EstateAjmera RealtyMumbaiBengaluruCollections GrowthReal Estate MumbaiJul 14, 2025
The company, with a market capitalization of Rs. 3,519 crore, saw its stock open slightly lower today at Rs. 900, compared to its previous close of Rs. 903.20, and remained largely flat, touching an intraday high of Rs. 903.20. This indicates a muted investor reaction post the operational update.
Ajmera Realty reported mixed Year on Year (YoY) performance for Q1 FY26. The company experienced a 42 percent growth in collections, rising from Rs. 165 crore in Q1 FY25 to Rs. 234 crore in Q1 FY26, reflecting strong cash flow realization from ongoing projects. However, the sales value declined by 65 percent, down from Rs. 306 crore to Rs. 108 crore, while the carpet area sold fell by 52 percent, from 130,801 sq. ft. to 63,244 sq. ft. over the same period.
On a Quarter on Quarter (QoQ) basis, collections improved by 29 percent, up from Rs. 182 crore in Q4 FY25 to Rs. 234 crore in Q1 FY26. Yet, the sales value saw a 57 percent drop, sliding from Rs. 250 crore to Rs. 108 crore, and the carpet area sold decreased significantly by 66 percent, from 185,939 sq. ft. to 63,244 sq. ft.
The company attributed this muted sales performance to sector-wide regulatory delays that held up project launches, including some of its key projects. Despite these hurdles, Ajmera Realty remains focused on delivering around 1,000 homes by the second half of FY26, backed by ongoing execution across six residential projects in Mumbai and Bengaluru.
Commenting on the performance, Mr. Dhaval Ajmera, Director – Corporate Affairs, said: “Our Q1 FY26 results reflect both strengths and sector-wide regulatory challenges. We are pleased with the robust 42% YoY growth in collections to ₹234 crores, demonstrating our operational efficiency and project execution. However, the lack of necessary approvals led to delays in new launches, while lower available inventory in existing projects contributed to sales during the quarter. Looking ahead, we are gearing up to deliver around 1,000 homes by the second half of FY26, with fast-tracked execution underway across six residential projects in Mumbai and Bengaluru, backed by sustained construction progress and inventory absorption. Our strategy—centered on timely execution, innovative design, and sustainability—continues to resonate with home buyers seeking quality in high-growth micro-markets. Our disciplined project management and customer-centric approach position us well to achieve our FY26 aspirations and deliver long-term stakeholder value.”
Ajmera Realty’s earnings per share (EPS) increased from Rs. 28.97 in March 2024 to Rs. 32 in March 2025. The company has demonstrated Compounded Profit Growth of 40 percent over the past three years. Borrowings reduced significantly from Rs. 808 crore in March 2024 to Rs. 676 crore in March 2025, indicating prudent financial management.
Total assets grew from Rs. 1,963 crore to Rs. 2,255 crore during the same period, reflecting healthy expansion. The Debt-to-Equity ratio improved to 0.56, while Return on Capital Employed (ROCE) stood at 12.8 percent, and Return on Equity (ROE) at 12.2 percent. Return on Assets (ROA) was reported at 5.99 percent, alongside a modest Dividend yield of 0.45 percent. The promoter holding remains steady, with an increase in DII holdings to 2.30 percent as of March 2025.
In their May 2025 concall, management shared that 40 percent of FY25 sales stemmed from new project launches, reflecting a strong brand pull and successful launch strategy. The company plans to launch nine new projects, covering 2.2 million sq. ft. of carpet area, with a gross development value (GDV) of approximately Rs. 6,500 crore. Capex for these projects is estimated between Rs. 4,500 to 4,800 crore, spread over 3 to 4 years.
Ajmera Realty & Infra India Ltd is one of India’s trusted real estate companies with a PAN India presence. The company’s flagship land bank at Ajmera I-Land, Bhakti Park, Wadala, and various projects in Central Mumbai, Mumbai suburbs, and Bengaluru reinforce its commitment to premium and mid-luxury residential segments. The company is actively evolving through strategic planning, sustainability, and the use of cutting-edge technologies to deliver value to stakeholders.
Frequently Asked Questions
What was Ajmera Realty's Q1 FY26 performance in terms of collections and sales?
Ajmera Realty reported a 42% YoY growth in collections, rising from Rs. 165 crore in Q1 FY25 to Rs. 234 crore in Q1 FY26. However, sales value declined by 65%, down from Rs. 306 crore to Rs. 108 crore, and the carpet area sold fell by 52%, from 130,801 sq. ft. to 63,244 sq. ft.
What factors affected Ajmera Realty's sales in Q1 FY26?
The company attributed the muted sales performance to sector-wide regulatory delays that held up project launches, including some of its key projects, and lower available inventory in existing projects.
What are Ajmera Realty's plans for the second half of FY26?
Ajmera Realty aims to deliver around 1,000 homes by the second half of FY26, focusing on fast-tracked execution across six residential projects in Mumbai and Bengaluru.
How has Ajmera Realty's financial performance been over the past three years?
Ajmera Realty has demonstrated a Compounded Profit Growth of 40% over the past three years. Borrowings reduced from Rs. 808 crore in March 2024 to Rs. 676 crore in March 2025, and total assets grew from Rs. 1,963 crore to Rs. 2,255 crore.
What is Ajmera Realty's strategy for future growth?
Ajmera Realty plans to launch nine new projects, covering 2.2 million sq. ft. of carpet area, with a gross development value (GDV) of approximately Rs. 6,500 crore. Capex for these projects is estimated between Rs. 4,500 to 4,800 crore, spread over 3 to 4 years. The company focuses on strategic planning, sustainability, and the use of cutting-edge technologies.
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