Ajmera Realty & Infra India Ltd

NSE:AJMERA

Record Sales: Ajmera Realty delivered its highest-ever sales of INR 1,431 crores for the first 9 months of FY '26, up 72% year-on-year, and expects to easily surpass its full-year guidance of INR 1,600 crores.

Strong Collections: Q3 collections hit a new high at over INR 333 crores, helping total 9M collections rise 70% YoY to INR 787 crores.

Major Project Pipeline: A key Wadala commercial project increased planned area from 6 lakh to 16 lakh sq ft, raising GDV from INR 1,800 crores to INR 5,300 crores, with the total Wadala project value pegged at INR 16,000 crores.

Stable Margins: EBITDA margin remained at 30%, and PAT margin at 15%, with EBITDA and PAT for 9M FY '26 at INR 196 crores and INR 99 crores, respectively.

Debt and Cash Flow: Total debt was INR 754 crores with a debt-equity ratio of 0.58x, and the company maintains a weighted average cost of debt at 11.59%.

Launch Delays: Some project launches (Kanjurmarg, Andheri, Ghatkopar) have been rescheduled due to approval and legal issues, but management expects progress soon.

Robust Revenue Visibility: Revenue visibility stands at INR 5,600 crores, including committed sales and upcoming launches.