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Ajmera Realty & Infra India Q1 FY27 Share Price & Earnings Call Analysis

₹137.86+3.03% today
Market cap
₹2,717 Cr
P/E
17.58
ROE
11.49%
PEG
0.63
Price to sales
2.35
Debt to equity
0.51
52W high / low
₹1,072 / ₹100.0
Sales growth (5Y)
25.75%
EBITDA margin
27.09%
Net profit margin
14.40%
Promoter holding
68.56%
Sales (last year)
₹1,149 Cr

Incorporated in 1985, Ajmera Realty and Infra Limited (ARIIL) is in the business of providing residential and rented commercial properties. The company has a presence in the cities like Mumbai, Bengaluru, Ahmedabad in India as well as in foreign countries such as Bahrain and UK [1]

Guidance scorecard · Q1 FY27 call

What Ajmera Realty & Infra India Ltd's management guided
and where it ranks in Realty

#36of 41 in
Realty
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Ajmera Realty expects a solid growth trajectory with an upcoming launch pipeline of over INR6,500 crores, contributing to an overall revenue visibility of INR10,000+ crores.
  • The strategic Wadala land bank holds an estimated GDV of around INR18,000 crores, including the boutique office Phase 1, enhancing near-term growth prospects.
  • FY27 launch pipeline is around INR3,000 crores, adding to the GDV opportunity of nearly INR21,000 crores.
  • The company anticipates steady sales across ongoing projects with strong demand for mid and luxury segments, despite cautious buyer sentiment.
  • Asset monetization efforts have already unlocked INR89 crores (out of INR330 crores projected), accelerating cash flows to support growth.

2 more points from Ajmera Realty & Infra India Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Ajmera Realty & Infra India Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Ajmera Realty has a strong upcoming launch pipeline, with launches expected worth over INR 6,500 crores contributing to overall revenue visibility of INR 10,000+ crores.
  • They added an asset-light project in Bangalore with an estimated GDV of INR 400 crores, strengthening their development pipeline.
  • The company is actively working on the Kanjurmarg 7-acre land conversion and strategic tie-ups (outright sale or JV) to unlock value, expected within 2-3 months.
  • Infrastructure and master planning work is underway for the 55-acre project planned for FY28 launch.

2 more points from Ajmera Realty & Infra India Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Ajmera Realty & Infra India Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Ajmera Realty's upcoming launch pipeline is expected to contribute about INR 6,500+ crores.
  • Overall revenue visibility stands at INR 10,000+ crores.
  • Revenue visibility from ongoing and committed projects is INR 3,846 crores, comprising INR 1,661 crores from committed sales and INR 2,185 crores from available inventory.
  • The strategic Wadala land bank has an estimated GDV of around INR 18,000 crores, including boutique office Phase 1.
  • The FY27 launch pipeline is in the range of INR 3,000 crores.

2 more points from Ajmera Realty & Infra India Ltd's call on the order book

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Full Q1 FY27 analysis
Full Realty ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Realty
on management's own guidance

  1. Sobha LtdGood growth
    2
  2. Strong growth
    1
  3. Man Infraconstruction LtdGood growth
    3
See all potential multibaggersWhere does Ajmera Realty & Infra India Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Realty companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹12,035 Cr41.1
2Sobha Ltd20–40%Up 2%+₹12,548 Cr54.4
3Man Infraconstruction Ltd20–40%Up 2%+₹4,602 Cr21.2
420–40%Up 2%+₹1,157 Cr12.7
520–40%Flat₹1.06L Cr25.6
620–40%Flat₹61,922 Cr23.4

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Ajmera Realty & Infra India Ltd announcements

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Financials of Ajmera Realty & Infra India Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Ajmera Realty & Infra India Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +114116145207232194200193151258219182431
Expenses +8379108147166129140130108180161127324
Operating Profit313738606664606343785855107
OPM %27%32%26%29%29%33%30%32%29%30%26%30%25%
Other Income +4222224621223
Interest1591021282318241221171422
Depreciation0001011111111
Profit before tax19292941404347453357434287
Tax %24%26%22%26%26%24%22%26%27%31%27%33%33%
Net Profit +15222330293336332439312859
EPS in Rs0.851.191.271.721.621.771.951.721.281.951.541.302.83

Financials of Ajmera Realty & Infra India Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1653162773703823443474834317007381,090
Expenses +119233170231254240251366307499507792
Operating Profit458310713812710595116124201231298
OPM %27%26%39%37%33%30%28%24%29%29%31%27%
Other Income +79141719656108158
Interest173136465066585936697673
Depreciation222322222234
Profit before tax3359831069443416296139167229
Tax %20%22%21%21%19%23%23%25%26%25%24%31%
Net Profit +264666847633314672104126157
EPS in Rs1.452.393.674.644.241.841.702.564.035.806.407.61
Dividend Payout %23%21%16%14%16%15%16%18%15%14%14%0%

Financials of Ajmera Realty & Infra India Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital353535353535353535353939
Reserves3804144695275766036296747388301,1671,359
Borrowings +268334445515863968775868843808676711
Other Liabilities +492478466458406365457441305290372484
Total Liabilities1,1761,2611,4161,5361,8801,9721,8972,0181,9221,9632,2542,594
Fixed Assets +7472706971766666697177106
CWIP000000000000
Investments393922248667502566110124120
Other Assets +1,0631,1501,3251,4431,7221,8291,7811,9281,7871,7822,0532,368
Total Assets1,1761,2611,4161,5361,8801,9721,8972,0181,9221,9632,2542,594

Financials of Ajmera Realty & Infra India Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-6811959-116-345-18201-64135220869
Cash from Investing Activity +-10-914-4-511-929-45-76-12-48
Cash from Financing Activity +59-98-69109363-1-17533-86-97-1-56
Net Cash Flow-19115-1112-717-2446-5-36
Free Cash Flow-6611955-120-350-25179-66131217240
CFO/OP-137%159%72%-68%-258%-8%220%-41%128%127%21%47%

Financials of Ajmera Realty & Infra India Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days4154171176184223189200116112156142
Inventory Days18,07114,006746
Days Payable8421,09028
Cash Conversion Cycle415417,40013,093184223189200116112156859
Working Capital Days1,3326886938181,1011,1841,0538501,112699727600
ROCE %6%11%13%14%11%7%6%8%8%12%13%14%

Guidance history

How Ajmera Realty & Infra India Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlanned—
Q4 FY26 call →20–40%FlatPlannedPlannedRising
Q3 FY26 call →20–40%FlatPlannedPlannedRising
Q2 FY26 call →20–40%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

21out of 100

Momentum score · price trend

21 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−38.1%13%
Last 6 months+3.8%59%
Last 3 months+1.9%67%

The price is 52.3% below its all-time high of ₹270.55 (8 Dec 2006). Stocks more than 20% below their peak have their score halved, so 42 became 21.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Ajmera Realty & Infra India Ltd: 0.4 × 13 + 0.4 × 59 + 0.2 × 67 = 42, halved to 21 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Ajmera Realty & Infra India Ltd's management said in earlier quarters

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