AJMERA

Ajmera Realty & Infra India share price & results

Ajmera Realty & Infra India Limited· Realty· Consumer Discretionary

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Real estate developer of residential and commercial projects across Mumbai, Bengaluru and Pune.

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Guidance Hit Rate
29 targets · 42% hit rate 5 achieved · 17 active →
Segment Shift
Sector & Mix Compare sector growth & peers →
Reverse DCF
Implied Growth Test priced-in growth in DCF tool →
Concall & Tone
Q2 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹133.02 +2.72% · +₹3.52

Last close 9 Nov 2026 · NSE · INR · Source: Inve

Performance −87.0% 1Y

₹0.2k₹0.4k₹0.6k₹0.8k₹1.0kNov 25Dec 25Feb 26Mar 26May 26Jun 26Aug 26Sept 26Nov 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 29 Jan 2026Q4 FY26 — 25 May 2026Q1 FY27 — 4 Aug 2026Q2 FY27 — 3 Nov 2026

1Y: ₹1,021.9 on 7 Nov 2025 → ₹133.02. High ₹1,026.3 (19 Nov 2025), low ₹99.98 (30 Mar 2026).

Previous close
₹129.5
Market cap
₹2.6k Cr
52-week range
₹99.98 – ₹1,026.3
One year
−86.60%
Price to earnings (TTM to Sept 2026)
15.28×
Return on equity (TTM to Sept 2026)
11.55%

Reported

Key financial metrics & valuation ratios

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue45.0 ₹ crore+350.0% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin26.0 %0.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit48.0 ₹ crore+54.8% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity11.55 %−0.4 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin3.69 %+3.4 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026
(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)51.89 %+42.3 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

5 of 12 judged targets kept · 17 open · verdicts reflect calls analysed to Q2 FY27.

Ajmera Realty & Infra India Limited management guidance track record on Inve: 29 targets tracked across analysed earnings calls (5 achieved, 7 missed, 17 open).

Watch execution in Operations & Margins (1 delayed/missed) · Products & Launches (1 delayed/missed).

TargetOriginal wordingSaidLatest callVerdict
Operations South Mumbai Land Sale
Implied near-term sale to reduce debt
Call transcript, Q2 FY25 · 28 Oct 2024
Q2 FY25
Q2 FY27:Not mentioned in the call.
Call transcript, Q2 FY27 · 3 Nov 2026
Ghosted
Products Kanjurmarg Project Launch
March, April 2025
Call transcript, Q2 FY25 · 28 Oct 2024
Q2 FY25
Q2 FY27:Launch remains delayed as regulatory land conversion is unresolved; management admitted 'giving a timeline is something where we're just falling flat on our faces', with approvals requiring another 4-5 months post-conversion.
Call transcript, Q2 FY27 · 3 Nov 2026
Delayed
Growth Wadala Land GDV Potential
11,000 crore
Call transcript, Q2 FY25 · 28 Oct 2024
Q2 FY25
Q2 FY27:No change to the overall Wadala land bank GDV estimate of INR 18,000 crores; development execution on Manhattan 1 & 2 and launch preparations for Wadala Boutique Office Phase 1 & 2 remain active.
Call transcript, Q2 FY27 · 3 Nov 2026
On Track

Source: Inve Guidance Tracker for Ajmera Realty & Infra India Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

7 of Ajmera Realty & Infra India Limited's 29 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 26 more targets are in the full ledger.

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Supply chain

Cross-company call evidence

Named counterparties and similar headwinds disclosed on earnings calls.

Counterparties named by Ajmera Realty & Infra India Limited

  • Ajmera Realty & Infra India Limited → partners with → Asset-light project in Bangalore.

    Q1 FY27 · Announced · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Strengthening development pipeline while maintaining disciplined growth strategy.

    “During the quarter, we've added an asset-light project in Bangalore with an estimated GDV of INR400 crores, approximately, further strengthening our development pipeline while maintaining our disciplined growth strategy.”

    Exact commercial direction is not specified; disclosed as a partnership or collaboration.

    Evidence drawer

    Evidence type: Transcript excerpt

    “During the quarter, we've added an asset-light project in Bangalore with an estimated GDV of INR400 crores, approximately, further strengthening our development pipeline while maintaining our disciplined growth strategy.”

    Source company: Ajmera Realty & Infra India Limited · Counterparty: Asset-light project in Bangalore · Call date: 2026-08-04 · Period: Q1 FY27 · Review status: Structured call extraction

  • Ajmera Realty & Infra India Limited → divests to → Joint Venture Company.

    Q1 FY27 · Announced · Neutral · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Further acceleration to cash flow realization.

    “we made another disclosure regarding our stake sale for the one of our joint venture company, and that is what we are going to report in Q2 because we just sealed the deal in the month of first week of July 2026.”
    Evidence drawer

    Evidence type: Transcript excerpt

    “we made another disclosure regarding our stake sale for the one of our joint venture company, and that is what we are going to report in Q2 because we just sealed the deal in the month of first week of July 2026.”

    Source company: Ajmera Realty & Infra India Limited · Counterparty: Joint Venture Company · Call date: 2026-08-04 · Period: Q1 FY27 · Review status: Structured call extraction

  • Ajmera Realty & Infra India Limited → divests to → Property Sale.

    Q1 FY27 · Closed / completed · Neutral · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Monetization of a property to generate cash flows and unlock value.

    Disclosed value: INR 89 crores

    “we have received an INR89 crores towards our share of investment and profit from a property sale out of the INR330 crores, which we had mentioned in our potential cash flows, which are coming.”
    Evidence drawer

    Evidence type: Transcript excerpt

    “we have received an INR89 crores towards our share of investment and profit from a property sale out of the INR330 crores, which we had mentioned in our potential cash flows, which are coming.”

    Source company: Ajmera Realty & Infra India Limited · Counterparty: Property Sale · Call date: 2026-08-04 · Period: Q1 FY27 · Review status: Structured call extraction

Similar pressures reported by peers

Tailwind coverage is not available yet.

Similar commentary provides sector context; it does not establish a business relationship with Ajmera Realty & Infra India Limited. Each comparison matches a headwind disclosed by Ajmera Realty & Infra India Limited in the same calendar reporting quarter.

  • RBI raised the repo rate by 25bps in its October policy

    Topic: Regulatory compliance · Regulatory policy · Q2 FY27

    Ajmera Realty & Infra India Limited reported: RBI raised the repo rate by 25bps in its October policy; management expects some pressure but limited impact unless rates rise further.

    Reporting period ended 2026-09-30

    10 other companies · Regulatory policy

    Lodha Developers Limited (LODHA) reported (period ended 2026-09-30): Average LTV is high 40s/low 50s in the ₹1-5 crore segment; management expects only a moderate impact and none above ₹5 crores. Extended Eastern Suburbs sales were slower in Q2.

    The Phoenix Mills Limited (PHOENIXLTD) reported (period ended 2026-09-30): Thane, Chandigarh and Coimbatore were targeted for CY2030 with 'elbow room' for approvals and retailer fit-outs. No timelines were given for the new cities until land is finalised.

    Sobha Limited (SOBHA) reported (period ended 2026-09-30): Launches are highly time-sensitive; any slippage in RERA or municipal approvals could push launches from Q3 to Q4 FY27.

    HORIZONIND (HORIZONIND) reported (period ended 2026-09-30): Solar capacity expansion capped near-term by state-level open access and wheeling regulations despite having 150-200 MW theoretical rooftop potential.

    Evidence drawer

    Evidence type: Summary paraphrase

    RBI raised the repo rate by 25bps in its October policy; management expects some pressure but limited impact unless rates rise further.

    Source company: Ajmera Realty & Infra India Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 10

    Similar commentary provides sector context; it does not establish a business relationship.

  • Labour and raw material costs are up due to geopolitical and commodity issues

    Topic: Raw material costs · Raw material cost · Q2 FY27

    Ajmera Realty & Infra India Limited reported: Labour and raw material costs are up due to geopolitical and commodity issues; Q2 EBITDA margin was 26% vs historical 30%+; management sees this as temporary.

    Reporting period ended 2026-09-30

    3 other companies · Raw material cost

    Lodha Developers Limited (LODHA) reported (period ended 2026-09-30): NRI Gulf demand is 4-5% of sales, mostly ₹1-3 crore homes; cost inflation is limited to energy-intensive categories, with 10% cost and 3% revenue contingencies.

    Mahindra Lifespace Developers Limited (MAHLIFE) reported (period ended 2026-09-30): Post Iran-US tensions, commodity and construction costs have edged up slightly across projects.

    Kalpataru Limited (KALPATARU) reported (period ended 2026-09-30): Inflationary pressures have been addressed by taking 3%-5% price hikes across projects.

    Evidence drawer

    Evidence type: Summary paraphrase

    Labour and raw material costs are up due to geopolitical and commodity issues; Q2 EBITDA margin was 26% vs historical 30%+; management sees this as temporary.

    Source company: Ajmera Realty & Infra India Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 3

    Similar commentary provides sector context; it does not establish a business relationship.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

AJMERA ₹133.02 +2.72%
Guidance Verdict (29 tracked) 5 kept · 17 open· 7 missed
AI Call Brief · Q2 FY27

Ajmera Realty & Infra India Limited Q2 FY27

Overview

Symbol
NSE:AJMERA
Sector
Realty
Industry
Consumer Discretionary
Exchange
NSE
Currency
INR

What Ajmera Realty & Infra India Limited does

Based on the company's own presentations, annual report and earnings calls.

Ajmera Realty & Infra India Limited is a real estate developer that builds and sells residential townships and commercial/boutique-office space, earning revenue from the sale of constructed carpet area to homebuyers. It operates primarily in the Mumbai Metropolitan Region (Mira Road, Andheri, Borivali, Wadala, Bandra, Bhandup, Versova, Vikhroli) with additional projects in Bengaluru (Yehlanka, Electronic City) and Pune. The company runs projects under wholly-owned, part-owned and asset-light (JV/JDA/redevelopment) structures, and also holds large owned land parcels such as Wadala and Kanjurmarg for future development.

Homes/families delivered (possessions handed over)
46,000+
Completed development
20.7 Mn sq.ft. carpet area across 176 projects (Mumbai, Bengaluru, Pune)
Workforce
400+ personnel
Ongoing projects
9 projects (2.0 Mn sq.ft.) across Mumbai and Bengaluru
Owned land bank - future development potential
10.4 Mn sq.ft. carpet area
Launch pipeline
8 projects (3.7 Mn sq.ft. potential launches)
Founded 1968Headquarters Mumbai Company website

How the price took the results

Moved an average of ±4.7% across the last 4 priced result releases

Close before → close after
QuarterReleaseRevenue (₹ Cr) Net profit (₹ Cr)Rev YoYBefore → AfterReaction
Q2 FY273 Nov 2645 48+350.0%₹132.48 → ₹132.41−0.1%
Q1 FY274 Aug 2623 45−30.3%₹130.41 → ₹122.97−5.7%
Q4 FY2625 May 26185 59—₹119.95 → ₹131.37+9.5%
Q3 FY2629 Jan 26-6 28—₹155.8 → ₹150.1−3.7%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

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PEER COMPARISON
Median ₹2,588 Cr Mkt Cap
₹0 Cr₹2,000 Cr₹4,000 Cr₹6,000 CrAjmera Realty & Infra India Limited (AJMERA): ₹2,588 Cr₹2,588 CrAJMERAArvind SmartSpaces Limited (ARVSMART): ₹2,767 Cr₹2,767 CrARVSMARTAlembic (ALEMBICLTD): ₹2,737 Cr₹2,737 CrALEMBICLTDMarathon Nextgen Realty Limited (MARATHON): ₹2,684 Cr₹2,684 CrMARATHONHubtown Limited (HUBTOWN): ₹2,659 Cr₹2,659 CrHUBTOWNArkade Developers Limited (ARKADE): ₹1,990 Cr₹1,990 CrARKADEOmaxe Limited (OMAXE): ₹1,843 Cr₹1,843 CrOMAXEMeghna Infracon Infrastructure Limited (MIIL): ₹1,501 Cr₹1,501 CrMIILShriram Properties Limited (SHRIRAMPPS): ₹1,215 Cr₹1,215 CrSHRIRAMPPS

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Quick Answers

Frequently asked questions on Ajmera Realty & Infra India Limited

Compiled directly from AJMERA's filed financial statements, earnings call transcripts, and ownership disclosures.

How did Ajmera Realty & Infra India Limited (AJMERA) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, Ajmera Realty & Infra India Limited reported revenue of ₹45 Cr, net profit of ₹48 Cr, an operating margin of 26.0%. Diluted earnings per share stood at ₹2.29.

How is Ajmera Realty & Infra India Limited (AJMERA) valued today, and what growth does the stock price imply?

Ajmera Realty & Infra India Limited (AJMERA) trades at ₹133.02, with a market capitalization of ₹2.6k Cr.

Who owns Ajmera Realty & Infra India Limited (AJMERA) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 68.6%, FIIs hold 0.8%, DIIs hold 0.9%, Public shareholders hold 29.8%.

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