Synopsis: Ajmera Realty & Infra India delivered a strong Q4 & FY26 operational performance, achieving record pre-sales and highest-ever collections, supported by robust demand for its projects and strong execution, while benefiting from new launches and high inventory absorption.
This small-cap realty stock, engaged in residential and commercial real estate development with a focus on premium and mid-segment housing across key markets like Mumbai and Bengaluru, reported strong operational numbers for FY26, surpassing its guidance and marking a milestone year.
The shares of Ajmera Realty Ltd were trading at about Rs.108 per share in early April 2026, down significantly from its 52-week high of Rs. 221.40, and is currently trading at 124.96 as of 10 April 2026 with a current market capitalization of about Rs. 2,405 crore.
Q4FY26 Robust Performance
Ajmera Realty closed FY26 with pre-sales of Rs.1,701 crore, its best ever and up 57% from the previous year. New launches played a significant role, contributing approximately 82% to the total. The company’s expansion isn’t just riding existing inventory but actually finding buyers for fresh supply.
The sales for Q4 FY26 came in at Rs.270 crore. Decent year-on-year, though softer than the quarters before it a timing issue more than anything else, with launches and sales cycles not aligning as neatly as they did earlier in the year.
Collections Growth in FY26
Collections for FY26 hit Rs.1,103 crore, another record and up 71% year-on-year. A combination of faster execution, improved cash flow management, and timely project delivery contributed to the jump. When all three come together, collections tend to follow.
In Q4 FY26 alone brought in Rs.316 crore, in collections, a 74% rise over the same quarter last year. That’s a strong finish to the year, and it points to something working at the ground level: customers paying on schedule usually means the project experience isn’t giving them a reason to hold back.
Key Updates in Q4 & FY26
Inventory sales levels vary from 50% to 95% across its main projects, including Manhattan 1 & 2, Greenfinity, Vihara, and Iris. Despite the significant disparity, the trend remains steady: several micro markets sustain demand rather than just one or two. Four new launches with a combined GDV of Rs.3,088 crore were also made in FY26: Manhattan 2, 33Fifteen, Ajmera Solis, and Vann. That’s a significant addition to the pipeline, and the business has good cause to be hopeful about how these will proceed given how the current projects have been absorbed.
During the year, Ajmera Eden, Prive, and Lugaano & Florenza all obtained their occupation certificates. Although OCs don’t garner much attention, they are crucial since they serve as a buyer’s last resort and timely clearance maintains trust.
Company Overview
Ajmera Realty & Infra India Limited is a well-established real estate developer with a legacy of over five decades. The company has delivered 100+ projects covering over 20 million sq. ft., serving more than 46,000 customers across India. It has a strong presence in Mumbai and Bengaluru, focusing on residential, commercial, and mixed-use developments.
On the financial front, the company reported a total revenue of Rs.664 crore in 9M FY26, reflecting 11% YoY growth, while PAT stood at Rs.99 crore, slightly lower compared to the previous year due to margin pressures. The company maintains a relatively stable balance sheet with a debt-to-equity ratio of around 0.58x, indicating controlled leverage and improving financial discipline.
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