What were Ajmera Realty's FY26 operational results?

The company posted record collections of ₹1,103 crore and a 57% increase in pre-sales to ₹1,701 crore for the fiscal year.

What is the FY27 guidance?

Management set a pre-sales target of ₹2,200 crore, representing 29% growth over FY26's ₹1,701 crore.

Which projects are delayed?

The Kanjurmarg project launch is delayed due to a land conversion hold-up, pushing it to H2 FY27 or later. The Wadala boutique office launch is also postponed to Q3 of FY27.

How has the balance sheet changed?

The company brought its debt-to-equity ratio down to 0.53x from 1.13x the prior year. It now plans to increase leverage toward 1x in FY27 to fund its development pipeline.

Earnings · Real Estate · Small cap

Ajmera Realty targets ₹2,200 cr pre-sales for FY27, but Kanjurmarg launch slips

FY26 pre-sales rose 57% to ₹1,701 crore with record collections. The ₹2,200 crore FY27 goal now hinges on a project launch pushed to the second half of the year.

— 1 earlier story on Ajmera Realty & Infra India Ltd. →

AJMERA By Tipsheet Editorial 25 May 2026 · 5:09 PM IST Verify on BSE · NSE

Mkt cap₹2,587 cr

P/E17.27×

ROE10.46%

Debt / eq.0.56

Div yld0.74%

₹2,200 cr FY27 pre-sales guidance, up 29% from FY26's ₹1,701 crore.

What's new

FY26 pre-sales jumped 57% to ₹1,701 crore; collections hit a record ₹1,103 crore.
Management set an FY27 pre-sales target of ₹2,200 crore.
Kanjurmarg land conversion is delayed, pushing its launch to H2 FY27 or later.

Why this matters

The growth target is aggressive and now depends on a delayed project. The plan to move debt-to-equity from 0.53x back toward 1x to fund development adds execution risk to a timeline that's already slipping.

What we're watching

Progress on the Kanjurmarg land conversion, the biggest variable for the FY27 number.
The pace of re-leveraging and its effect on interest costs.
Pre-sales pace in H1 FY27 versus the ₹2,200 crore annual target.

The full read

Ajmera Realty is guiding for ₹2,200 crore in FY27 pre-sales after a strong FY26, where pre-sales jumped 57% to ₹1,701 crore and collections hit a record ₹1,103 crore. The 29% growth target comes with a catch. The flagship Kanjurmarg project, which likely underpins a chunk of that guidance, is delayed due to a land conversion hold-up, pushing its launch to H2 FY27 or later. The Wadala office launch is also slipping to Q3. To fund its pipeline, management plans to move debt-to-equity from 0.53x back toward 1x in FY27. The operational numbers from FY26 are solid. The project timeline is the next test.

Questions answered

What were Ajmera Realty's FY26 operational results?: The company posted record collections of ₹1,103 crore and a 57% increase in pre-sales to ₹1,701 crore for the fiscal year.
What is the FY27 guidance?: Management set a pre-sales target of ₹2,200 crore, representing 29% growth over FY26's ₹1,701 crore.
Which projects are delayed?: The Kanjurmarg project launch is delayed due to a land conversion hold-up, pushing it to H2 FY27 or later. The Wadala boutique office launch is also postponed to Q3 of FY27.
How has the balance sheet changed?: The company brought its debt-to-equity ratio down to 0.53x from 1.13x the prior year. It now plans to increase leverage toward 1x in FY27 to fund its development pipeline.

Mentioned: Kanjurmarg · Wadala · FY27 guidance ₹2,200 cr

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Ajmera Realty & Infra India Ltd.

Real Estate

₹2,592 cr

P/E 20.39×

Latest quarter · Mar 2026

Sales₹431 cr

Net profit₹58 cr

Op. margin+24.8%

EPS₹2.83

Strength & growth

Debt / equity0.56×

Current ratio5.96×

Sales CAGR+12.7%

EPS CAGR+11.5%

Story so far

All notes on AJMERA →

25 May 2026 · 5:09 PM IST Ajmera Realty targets ₹2,200 cr pre-sales for FY27, but Kanjurmarg launch slips
48d ago Ajmera Realty promoters buy ₹7.7 cr in open market