Ajmera Realty & Infra India Ltd

- Ajmera Realty & Infra India Limited is in talks with several funds and players for fundraising, but details are currently confidential as discussions are at an early stage (Page 14). - The company expects to reveal more details about the fundraising at the appropriate time. - The fundraising event is expected to happen in FY27 with 110% certainty (Page 14). - No explicit mention was made of new debt raises; current total debt stands at Rs. 754 crores with a disciplined approach to leverage and a debt-equity ratio of 0.58x (Page 6). - The company is open to potential partnerships or joint ventures, especially for commercial projects like Wadala, which may include equity participation if value is added (Page 12).

- Ajmera Realty is in active discussions with funds and players for strategic partnerships, expected to materialize as a FY27 event. - They are expanding commercial development in Wadala under the 33(20)(B) PAP development scheme, increasing FSI by 1 million sq.ft, with anticipated launch between Q1-Q2 FY27. - Launch of boutique office concept in Wadala to fund projects and maintain cash flows; larger office spaces planned for retention as income-generating assets. - Exploring potential partnerships or JV for commercial-retail projects, especially the large 55-acre Kanjurmarg land parcel, though no concrete decisions yet. - Two asset-light redevelopment projects in Mumbai and Pune with combined GDV of Rs. 2,000 crores are underway, expected to launch possibly in FY27 or FY28. - Overall launch pipeline includes significant commercial and residential launches aiming to generate revenues of around Rs. 5,600 crores, reflecting robust growth and capital deployment ahead.

- Ajmera Realty expects strong growth momentum with an upcoming launch pipeline contributing ~Rs. 1,500 crores, raising total revenue visibility to ~Rs. 5,600 crores. - For FY26, the company is poised to surpass its full year sales guidance of Rs. 1,600 crores, having achieved Rs. 1,431 crores in sales in 9M FY26, a 72% YoY growth. - Volume growth is strong with 5.56 lakh sq.ft. sold in 9M FY26, a 36% YoY increase. - Collections rose 70% YoY to Rs. 787 crores in 9M FY26. - The Wadala project’s GDV increased from Rs. 1,800 crores to Rs. 5,300 crores, signifying enhanced future revenues. - Asset-light redevelopment projects worth Rs. 2,000 crores will also fuel expansion. - Sales velocity is steady across projects with confident outlook towards meeting FY27 launch pipeline targets. - Continued selective acquisitions and optimizing portfolio value underpin future volume and revenue growth.

- Ajmera Realty shows strong growth momentum with 9M FY26 sales at Rs. 1,431 crores, a 72% Y-o-Y increase. - Revenue grew 11% Y-o-Y to Rs. 664 crores for 9M FY26, with stable EBITDA of Rs. 196 crores and PAT of Rs. 99 crores. - EBITDA margin steady at 30%, PAT margin around 15%, indicating healthy profitability. - Upcoming launch pipeline expected to add Rs. 1,500 crores to revenue visibility, increasing total to approx. Rs. 5,600 crores. - Strategic revisions in projects like Wadala's Boutique Office significantly increase GDV (from Rs. 1,800 crores to Rs. 5,300 crores). - Management confident of surpassing FY26 sales guidance of Rs. 1,600 crores and achieving strong sales velocity in new launches. - Asset-light development strategy and selective business development underpin capital-efficient growth. - Strong brand presence and market demand expected to sustain sales velocity and support margin expansion.

- Ajmera Realty & Infra India Limited has secured new business development projects worth Rs. 2,000 crores, focusing on asset-light developments. - Their existing project portfolio (ongoing and OC received) has total revenue visibility of Rs. 4,098 crores, including Rs. 99 crores from committed sales and about Rs. 4,000 crores from available inventories. - The upcoming launch pipeline is expected to contribute around Rs. 1,500 crores in FY26. - Overall revenue visibility stands at approximately Rs. 5,600 crores. - The ongoing project portfolio is estimated to generate Rs. 2,316 crores in cash flow over the remaining life cycle. - Addition of two redevelopment projects worth Rs. 2,000 crores (Mumbai Rs. 1,500 crores and Pune Rs. 500 crores) under active development.