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Ajmera Realty & Infra India Results: Latest Quarterly Results & Analysis

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Ajmera Realty & Infra India Ltd. 25 May 2026 15:01 PM

Q4FY26 & FY26 Result Announced for Ajmera Realty & Infra India Ltd.

Realty company Ajmera Realty & Infra India announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Total Income from Operations: For Q4FY26, Total Income from Operations stood at Rs 43,393 lakh, showcasing a significant growth of 136.45% QoQ compared to Rs 18,352 lakh in Q3FY26. On a YoY basis, it increased by 182.34% from Rs 15,369 lakh in Q4FY25.
  • Annual Total Income: For FY26, Total Income from Operations was reported at Rs 1,09,800 lakh, registering an increase of 45.80% YoY compared to Rs 75,311 lakh in FY25.
  • Net Profit: Net Profit (attributable to Owners of Holding Company) for Q4FY26 reached Rs 5,853 lakh, reflecting a surge of 110.01% QoQ against Rs 2,787 lakh in Q3FY26, and a robust growth of 141.46% YoY from Rs 2,424 lakh in Q4FY25.
  • Annual Net Profit: For FY26, Net Profit (attributable to Owners of Holding Company) stood at Rs 15,708 lakh, up by 24.24% YoY compared to Rs 12,643 lakh in FY25.
  • Total Comprehensive Income: Total Comprehensive Income (attributable to Owners of Holding Company) for Q4FY26 was Rs 5,915 lakh. For the full year FY26, it amounted to Rs 15,770 lakh.
  • Earnings Per Share (EPS): Basic EPS for Q4FY26 improved to Rs 2.83, up from Rs 1.30 in Q3FY26 and Rs 1.28 in Q4FY25. Annual Basic EPS for FY26 stood at Rs 7.61, compared to Rs 6.80 in FY25.

Standalone Financial Highlights:

  • Total Income from Operations: In Q4FY26, Total Income from Operations was Rs 31,553 lakh, recording a substantial growth of 210.04% QoQ compared to Rs 10,177 lakh in Q3FY26, and a jump of 163.80% YoY from Rs 11,961 lakh in Q4FY25.
  • Annual Total Income: For FY26, Total Income from Operations amounted to Rs 70,376 lakh, higher by 29.45% YoY compared to Rs 54,367 lakh in FY25.
  • Net Profit: Net Profit for Q4FY26 was Rs 4,646 lakh, translating to an increase of 123.15% QoQ from Rs 2,082 lakh in Q3FY26, and a growth of 62.39% YoY against Rs 2,861 lakh in Q4FY25.
  • Annual Net Profit: For FY26, the Net Profit reported was Rs 12,710 lakh, up by 13.85% YoY compared to Rs 11,164 lakh in FY25.
  • Total Comprehensive Income: Total Comprehensive Income for Q4FY26 was Rs 4,702 lakh, and for the full year FY26, it stood at Rs 12,766 lakh.

Business & Segment Highlights:

  • Dividend: The Board of Directors recommended a final dividend of Rs 1 per equity share (having a face value of Rs 2 each) for the financial year ended March 31, 2026, subject to shareholder approval.
  • Segment Performance: The company operates in a single segment, which is Construction (Real Estate). Therefore, the segment-wise performance is entirely reflective of the primary consolidated and standalone financial results detailed above.

Dhaval Ajmera, Director, Corporate Affairs, said: “The past five years have been truly transformative for our company. Since FY21, we have achieved a staggering 5.1x increase in Net Profit (a 38% CAGR), alongside a 3.1x surge in Revenue and 3.0x in EBITDA. Most importantly, we delivered this aggressive top-line growth & profitability while maintaining strict financial discipline—successfully deleveraging our balance sheet to reduce our Debt-to-Equity ratio to a highly resilient 0.53x from 1.13x in FY21.

FY26 stands as a landmark year for Ajmera Realty, defined by record-breaking operational excellence and the decisive execution of our growth strategy. We have outperformed our annual sales guidance to achieve a historic pre-sales value of Rs 1,701 crore, representing a strong growth of 57% YoY. This momentum was fueled by an overwhelming market response to our new launches, which contributed a staggering 82% of our total sales value. Furthermore, our focus on high-quality receivables led to a 71% YoY growth in collections, setting a new operational benchmark at Rs 1,103 crore.

Our revenue grew significantly by 46% to Rs 1,098 crore YoY in FY26, while our EBITDA and PAT grew by 25% and 24% on YoY, respectively. A cornerstone of this year’s success was our commitment to financial prudence and superior cash flow management. Our collection efficiency improved to 65%, up from 60% in FY25, providing the liquidity to significantly outperform our leverage targets. As a result, we achieved a Debt-to-Equity ratio of 0.53x, well below our annual guidance of 0.85x. This disciplined capital structure further strengthens our balance sheet and provides the requisite capital agility to fund our expansion sustainably.

Looking ahead, we have bolstered our 5x growth engine by adding 5 strategic, asset-light projects with an estimated GDV of Rs 2,433 crore. Despite the exceptionally high base of FY26, we have set an ambitious FY27 pre-sales target of Rs 2,200 crore - a testament to our confidence in the market and our execution capabilities. Our near-term growth will be spearheaded by the unlocking of our Wadala land bank potential alongside a robust launch pipeline for FY27, representing a collective GDV opportunity of Rs 24,918 crore and complemented by steady value realization from our sustenance portfolio. Our core philosophy remains anchored in ‘Robust & Responsible Execution’ and expanding our footprint in strategic micro-markets to deliver sustained value to our stakeholders”.

Result PDF

Realty company Ajmera Realty & Infra India announced Q3FY26 results

  • Sales: Rs 603 crore against Rs 270 crore during Q3FY25, change 123%.
  • Revenue: Rs 183.5 crore against Rs 199.1 crore during Q3FY25, change -8%.
  • EBITDA: Rs 57 crore against Rs 68.8 crore during Q3FY25, change -17%.
  • EBITDA Margin: 31% for Q3FY26.
  • PBT: Rs 41.9 crore against Rs 44.6 crore during Q3FY25, change -6%.
  • PBT Margin: 23% for Q3FY26.
  • PAT: Rs 27.9 crore against Rs 33.1 crore during Q3FY25, change -16%.
  • PAT Margin: 15% for Q3FY26.
  • EPS: 1.3 for Q3FY26.

Dhaval Ajmera, Director, Corporate Affairs said: “We delivered a stellar performance in 9MFY26 by achieving a highest ever sales value of Rs 1,431 crore against our annual target of Rs 1,600 crore which registered a strong growth of 72% YoY. This growth was largely driven by the overwhelming response to our new launches, which contributed 86% of the sales value during the period. Similarly, collection saw a strong growth of 70% YoY, with Q3FY26 setting a new operational benchmark delivering our highestever quarterly collection of Rs 333 crore.

Our revenue grew by 11% to Rs 664 crore YoY in 9MFY26. Our EBITDA and PAT remained flat while maintaining a healthy margin of 30% and 15%, respectively. Our commitment to financial discipline is reflected in our Debt-to-Equity ratio of 0.58x, which significantly outperforms our guidance. This discipline further strengthens our balance sheet and enhances our ability to fund future growth sustainably.

We are excited to announce a strategic revision to the master plan of our Boutique Office project at Wadala, significantly unlocking further value. The estimated carpet area has been increased by 10 lakh sq. ft., resulting in an incremental Gross Development Value (GDV) of about Rs 3,500 crore. Simultaneously, we secured a business development of Rs 2,015 crore to fuel our future growth through asset-light developments as one of the pillars of our 5x growth strategy. Our focus remains on 'Robust & Responsible Execution' and expanding our footprint in strategic micro-markets to deliver sustained value to our stakeholders”.

Result PDF

Realty company Ajmera Realty & Infra India announced Q2FY26 results

  • Total Revenue: Rs 221.0 crore compared to Rs 204.1 crore during Q2FY25, change 8%.
  • EBIDTA: Rs 59.9 crore compared to Rs 64.5 crore during Q2FY25, change -7%.
  • EBIDTA Margin: 27% for Q2FY26.
  • PBT: Rs 42.8 crore compared to Rs 46.5 crore during Q2FY25, change -8%.
  • PAT: Rs 31.2 crore compared to Rs 36.3 crore during Q2FY25, change -14%.
  • PAT Margin: 14% for Q2FY26.
  • EPS: Rs 7.72 for Q2FY26.

Dhaval Ajmera, Director, Corporate Affairs said: “The Q2 and H1FY26 performance further reinforces our focus on disciplined growth, timely execution, and prudent financial management. During the quarter, we launched two marquee projects Ajmera Manhattan 2 and Thirty 3.15 with a combined GDV of Rs 2,100 crore, both receiving an encouraging market response. Strengthened balance sheet with a healthy debt-to-equity ratio of 0.55x, supported by robust sales momentum and strong collections, resulting in a well-optimized debt structure. With a strong project pipeline of GDV of Rs 4,357 crore across seven projects and strong demand visibility, we remain focused on maintaining this growth trajectory through strategic launches, robust pipeline, operational excellence, and a balanced approach to financial prudence.

The outlook on development potential of Wadala stands robust with a lucrative line-up projected to generate a topline sales value of over Rs 12,000 crore. During H2FY26, we plan to launch a boutique office space with estimated carpet area over ~6 lakh sq.ft with an estimated GDV of Rs 1800 crore. Further FY27 onwards, we aim to foray into uber-luxury residential space and launch a project spreading across ~13.8 lakh sq.ft, estimated to generate a GDV of Rs ~5700 crore. Further, the next phases of Ajmera Manhattan to be developed across ~9 lakh sq.ft that will add an estimated GDV of Rs ~3200 crore.”

Result PDF

Realty company Ajmera Realty & Infra India announced Q1FY26 results

  • Revenue grew by 32% YoY to Rs 260 crore in Q1FY26, compared to Rs 196 crore in Q1FY25.
  • EBITDA increased by 19% YoY to Rs 79 crore in Q1FY26, compared to Rs 67 crore in Q1FY25 with an EBITDA margin of 31%.
  • PAT rose by 20% YoY to Rs 39 crore in Q1FY26, compared to Rs 33 crore in Q1FY25.
  • Sales volume stood at 63,244 sq. ft., generating sales value of Rs 108 crore in Q1FY26.
  • Collections increased by 42% to Rs 234 crore in Q1FY26 from Rs 165 crore in Q1FY25.
  • Debt decreased by 6% to Rs 619 crore in Q1FY26, compared to Rs 662 crore in FY25, bringing down the debt-to-equity ratio to 0.50x.

Dhaval Ajmera, Director, Corporate Affairs said: “The Q1FY26 performance showcases our unwavering commitment to consistent and timely project deliveries, backed by the trust our customers place in us, even amid a dynamic market landscape. We enhanced our execution capabilities, leading to a remarkable 42% YoY increase in collections significantly strengthening our cash flows and clocked the highest quarterly revenue in the last five years. We have strategically reduced our overall debt by 6%, including a significant 40% reduction in corporate debt. This, coupled with a 45 bpsreduction in our weighted average cost of debt compared to FY25, further strengthens our balance sheet. Demonstrating our operational excellence, we secured the Occupation Certificate for Ajmera Prive and completed the handover almost a year ahead of RERA deadlines. Looking ahead, despite the regulatory delays in securing approvals for our key projects, we remain optimistic about our nine projects set to launch, collectively representing a Gross Development Value of ?6,460 crore. This positions us well to drive growth and deliver value to our stakeholders.”

Result PDF

Realty company Ajmera Realty & Infra India announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Revenue: Rs 154 crore in Q4FY25 vs. Rs 234 crore in Q4FY24 — down 34%
  • EBITDA: Rs 46 crore in Q4FY25 vs. Rs 69 crore in Q4FY24 — down 33%
  • EBITDA Margin: 30% in Q4FY25 vs. 29% in Q4FY24 — up 100 bps
  • PBT: Rs 33 crore in Q4FY25 vs. Rs 40 crore in Q4FY24 — down 17%
  • PAT: Rs 24 crore in Q4FY25 vs. Rs 29 crore in Q4FY24 — down 18%
  • EPS: Rs 6.4 in Q4FY25 vs. Rs 8.1 in Q4FY24 — down 21%

FY25 Financial Highlights:

  • Revenue grew by 6% YoY to Rs 753 crore in FY25, compared to Rs 708 crore in FY24
  • EBITDA increased by 18% YoY to Rs 246 crore in FY25, with an improved EBITDA margin of 33%, up 300 bps in FY25
  • PAT rose by 22% YoY to Rs 126 crore in FY25, with a PAT margin of 17%, up 200 bps in FY25
  • Sales volume grew by 26% YoY to 5,95,902 sq. ft, driven by strong project launches, while sales value grew by 6% YoY to Rs 1,080 crore in FY25
  • Collections increased by 13% to Rs 646 crore in FY25 from Rs 570 crore in FY24
  • Debt was reduced by 15% to Rs 662 crore in FY25, lowering debt-to-equity ratio to 0.55x

Commenting on the Q4 & FY25 performance, Dhaval Ajmera, Director (Operation & Strategy) – Ajmera Realty & Infra India said: “FY25 has been a year of strong performance backed by operational excellence, financial discipline and sustained market demand. Our results reflect consistent delivery, customer confidence, and the ability to adapt in a dynamic environment. New project launches contributed 40% of our total sales value, highlighting the market’s robust response to our developments. Enhanced execution capabilities and improved collection efficiency from 56% in FY24 to 60% in FY25 further boosted our cash flows. Supported by healthy operating cash flow and successful equity raised, we strategically reduced debt by 15%, thereby fortifying our balance sheet. With nine highpotential projects lined up for launch, representing an estimated Gross Development Value of Rs 6,460 crore, we are well-positioned to accelerate growth and create enduring value for all stakeholders.”

Result PDF

Realty company Ajmera Realty & Infra India announced Q3FY25 results

  • Revenue: Rs 199 crore compared to Rs 209 crore during Q3FY24, change -5%.
  • EBIDTA: Rs 69 crore compared to Rs 62 crore during Q3FY24, change 11%.
  • EBIDTA Margin: 35% for Q3FY25.
  • PBT: Rs 45 crore compared to Rs 41 crore during Q3FY24, change 10%.
  • PBT margin: 22% for Q3FY25.
  • PAT: Rs 33 crore compared to Rs 30 crore during Q3FY24, change 11%.
  • PAT margin: 17% for Q3FY25.
  • EPS: Rs 9 for Q3FY25.

Dhaval Ajmera, Director, Ajmera Realty & Infra India, said: "The company continues to progress on its robust growth trajectory, delivering consistent results that highlight the success of our strategic initiatives. The exceptional response to our newly launched portfolio further strengthens our confidence as we gear up for upcoming launches of six projects with GDV of Rs 4,300 crore in the quarters ahead. The equity raised has significantly enhanced our capital base and enabled us to successfully reduce corporate debt, in line with our stated guidance. With our aggressive business development strategies, we have added one mn sq.ft worth INR 2,450 crore GDV, in our legacy markets where we are well-positioned to advance to the next phase of our growth journey. These strategic milestones reinforce our market leadership and drive sustainable, long-term value creation for our stakeholders."

Result PDF

Realty company Ajmera Realty & Infra India announced H1FY25 & Q2FY25 results

  • Revenue in Q2FY25 grew by 38% on a YoY basis to Rs 204 crore from Rs 148 crore in Q2FY24, while H1FY25 recorded a YoY growth of 51% to Rs 400 crore from Rs 265 crore in H1FY24.
  • PAT in Q2FY25 grew by 58% on a YoY basis to Rs 36 crore as compared to Rs 23 crore in Q2FY24, while H1FY25 PAT grew by 55% YoY to Rs 69 crore from Rs 44 crore in H1FY24.
  • Sales Value grew by 18% in H1FY25 to Rs 560 crore from Rs 476 crore in H1FY24.
  • Collections remained robust in H1FY25 with a 34% growth surging to Rs 298 crore from Rs 222 crore in H1FY24, driven by strong sales and efficient project execution.
  • Company has on boarded marquee investors in its Equity raise of Rs 225 crore on preferential allotment basis and successfully closed its maiden private equity deal with domestic institutional investor.

Dhaval Ajmera, Director – Ajmera Realty & Infra India said: “The company remains steadfast on its growth trajectory, delivering impressive results that reflect our strategic initiatives. We are happy to increase the equity through preferential allotment which is testimony of the growth potential of the company from the investors who are strategically aligned with our objectives. A robust pipeline comprising seven projects with a Gross Development Value of ?4,270 crores is set to launch, positioning the second half of FY25 for significant optimism and value creation. These developments collectively enhance the company’s prospects and stakeholder value.”

Result PDF

Realty company Ajmera Realty & Infra India announced Q1FY25 results:

Financial Highlights: 

  • Revenue grew by 67% in Q1FY25 on YoY basis to Rs 196 crore from Rs 118 crore in Q1FY24.
  • PAT grew by 52% in Q1FY25 on a YoY basis, surging to Rs 33 crore from Rs 22 crore in Q1FY24.
  • Sales value grew by 36% YoY in Q1FY25, increasing to Rs 306 crore from Rs 225 crore in Q1FY24, which was buoyed by the successful launch of Ajmera Vihara at Bhandup and sustained sales of Ajmera Manhattan Ajmera Prive and Ajmera Greenfinity AB.
  • Collections remained healthy in Q1FY25 with a 49% YoY growth, surging to Rs 165 crore from Rs 111 crore in Q1FY24.
  • Debt has been reduced by Rs 58 crore in Q1FY25 from Operating cash flow.

Commenting on the Q1FY25 performance, Dhaval Ajmera, Director – Ajmera Realty & Infra India Limited said: “In Q1FY25, Ajmera Realty continued its robust growth momentum with a stellar performance across all financial metrics, driven by strong sales growth and excellent collection efficiencies across all projects. This growth trajectory is a testament to the company’s coveted launch pipeline and paves the way further towards our fullyear guidance.

Given the powerful tailwinds fanning buoyancy in demand across the sector, along with favorable government policies boosting domestic sales and inclination from NRIs and overseas institutional investors, the industry is witnessing an active growth fuelled by end-users driven demand. We are banking on this opportunity and look forward to leveraging this to drive high-octane growth for the company. With an estimated Gross Development Value (GDV) of about Rs 4,270 crore spread across 7 projects, we are bullish about achieving our goals and look forward to a promising year ahead.”

Result PDF

Ajmera Realty & Infra India announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Sales Value grew by an impressive twofold in Q4FY24, surging to Rs 287 crore from Rs 140 crore in Q4FY23.
  • Collections remained robust in Q4FY24 with a 91% YoY growth, surging to Rs 197 crore from Rs 103 crore in Q4FY23.
  • Total Revenue in Q4FY24 grew by 99% on YoY basis to Rs 234 crore from Rs 118 crore in Q4FY23.
  • PAT in Q4FY24 grew by 90% on a YoY basis to Rs 29 crore as compared to Rs 15 crore in Q4FY23.
  • Debt-equity ratio being 0.90:1 as against 0.94:1 as at Q3FY24 & 1.00:1 at the end of the Q4FY23.

FY24 Financial Highlights:

  • For FY24, Sales Value was Rs 1,017 crore, recording a 21% YoY growth.
  • FY24 collections surged to Rs 197 crore from Rs 103 crore in FY23, marking a robust 91% YoY growth.
  • Total Revenue in FY24 recorded a YoY growth of 61% to Rs 708 crore from Rs 441 crore in FY23.
  • FY24 PAT grew by 44% YoY basis to Rs 103 crore from Rs 72 crore in FY23.

Commenting on the Q4 & FY24 performance, Dhaval Ajmera, Director – Ajmera Realty & Infra India said: “I’m pleased to announce that FY24 marked a structural shift in our company’s illustrious history, with many major milestones being achieved. Ajmera Realty recorded its robust annual topline of Rs 700 crore and a bottomline of Rs 100 crore. The pre-sales for the company clocked over Rs 1,000 crore which is remarkable despite the higher base effect. Looking ahead, we are more confident than ever of achieving our strategic vision of 5x growth, considering our exceptionally strong pipeline of launches, project additions, managing leverage despite growth momentum; we hereby are taking a leap ahead with our guidance for FY25E with a 33% growth in Pre-Sales.”

Result PDF

Realty Company Ajmera Realty & Infra India announced Q1FY24 results:

  • Sales value at Rs 225 crore; up 60% QoQ
  • Sales volume at 1,35,460 Sq. ft; up 96% QoQ
  • Collection at Rs 111 crore; up 8% QoQ
  • Revenue at Rs 118 crore; up 113% YoY
  • PAT at Rs 21 crore; up 82% YoY, PAT Margin at 18%
  • The debt-equity ratio at 0.97x; achieves breakthrough at sub 1x

Commenting on the performance of Q1FY24, Dhaval Ajmera, Director –ARIIL said, “We are pleased to announce that our company has delivered a stellar performance in Q1FY24, witnessing a remarkable 96% quarter-on-quarter sales growth at 1,35,460 sq. ft. This phenomenal sales growth is attributed to the launch of a premium residences project in Ghatkopar along with Bengaluru having a multiplier effect. Sales are expected to continue being driven by the strong demand for quality housing throughout the rest of the year.

Our company recorded tremendous YoY growth in revenue of 113% to Rs 118 crore and 82% in PAT amounting to Rs 21 crore, the contribution of revenue-eligible projects to the bottom line showcases our operational efficiency. Our efficient debt management efforts resulted in a reduction of the weighted avg. cost of debt to 11.9% for Q1 FY24, as compared to 13.7% for Q4FY23 on account of financial performance and credit profile improvements, also we successfully achieved a debt/equity ratio of 0.97 vs 1.12 YoY, a sub 1x ratio.

Our primary goal is to achieve a five-fold increase in sales by the year 2025. To accomplish this, we have set clear priorities, including ensuring the timely delivery of projects within committed timelines, enhancing overall execution efficiency and strategically launching three new projects during this fiscal year with a gross development value of ~Rs 1,800 crore. We remain confident with our strong revenue visibility estimated at Rs 3,960 crore from our ongoing projects and future launches. Our business objective is to not only grow exponentially but also create supply to meet the demands of end users.

Key factors driving the demand for real estate will be the sustenance of macro factors through interest rate pause and conducive economic growth. Additionally, the completion of major transit infrastructure projects will create new micro markets, particularly in MMR, opening fresh business opportunities. To capitalize on these opportunities, we plan to venture into new micro-markets in H2 FY24.”

 

Result PDF

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