Financial Results Summary

H1FY27 Performance (Year-over-Year):

  • Revenue: INR 639 Cr (up 33% from INR 480.5 Cr in H1FY26)
  • EBITDA: INR 178 Cr (up 28% from INR 139.2 Cr in H1FY26)
  • PAT: INR 93 Cr (up 32% from INR 70.7 Cr in H1FY26)
  • Debt-to-equity ratio: 0.44x

Q2FY27 Performance (Year-over-Year):

  • Revenue: INR 319.5 Cr (up 45% from INR 221.0 Cr in Q2FY26)
  • EBITDA: INR 84.1 Cr (up 40% from INR 59.9 Cr in Q2FY26)
  • EBITDA Margin: 26% (down 80 bps from 27% in Q2FY26)
  • PBT: INR 66.6 Cr (up 55% from INR 42.8 Cr in Q2FY26)
  • PBT Margin: 21% (up 147 bps from 19% in Q2FY26)
  • PAT: INR 48.5 Cr (up 55% from INR 31.2 Cr in Q2FY26)
  • PAT Margin: 15% (up 104 bps from 14% in Q2FY26)
  • EPS: INR 2.3 (up 48% from INR 1.5 in Q2FY26)

Q2FY27 Performance (Quarter-over-Quarter):

  • Revenue: INR 319.5 Cr (flat vs INR 319.5 Cr in Q1FY27)
  • EBITDA: INR 84.1 Cr (down 10% from INR 93.8 Cr in Q1FY27)
  • EBITDA Margin: 26% (down 304 bps from 29% in Q1FY27)
  • PBT: INR 66.6 Cr (up 7% from INR 62.0 Cr in Q1FY27)
  • PBT Margin: 21% (up 141 bps from 19% in Q1FY27)
  • PAT: INR 48.5 Cr (up 8% from INR 44.9 Cr in Q1FY27)
  • PAT Margin: 15% (up 111 bps from 14% in Q1FY27)
  • EPS: INR 2.3 (up 5% from INR 2.2 in Q1FY27)

Operational Highlights

Sales Metrics Q2FY27:

  • Carpet area sold: 72,883 sq. ft. (down 68% YoY from 229,772 sq. ft.)
  • Sales Value: INR 224 Cr (down 69% YoY from INR 720 Cr)
  • Collections: INR 190 Cr (down 14% YoY from INR 220 Cr)

Sales Metrics Q2FY27 (QoQ):

  • Carpet area sold: 72,883 sq. ft. (up 67% from 43,737 sq. ft. in Q1FY27)
  • Sales Value: INR 224 Cr (up 54% from INR 146 Cr in Q1FY27)
  • Collections: INR 190 Cr (up 10% from INR 173 Cr in Q1FY27)

Sales Metrics H1FY27:

  • Carpet area sold: 116,620 sq. ft. (down 60% YoY from 293,016 sq. ft.)
  • Sales Value: INR 370 Cr (down 55% YoY from INR 828 Cr)
  • Collections: INR 363 Cr (down 20% YoY from INR 454 Cr)

Strategic and Financial Developments

  • Commercial project '33Fifteen' became eligible for revenue recognition from Q2FY27 following accelerated execution progress
  • Company divested its entire 36% equity stake in Ultra Tech Property Developers Private Limited during the quarter
  • Reduced debt by INR 34 Cr to INR 646 Cr as of September 30, 2026
  • Lowered cost of debt to 10.75% p.a. from 11.01% p.a. in the previous quarter
  • Debt-to-equity ratio improved to 0.44x
  • Company is actively pursuing requisite approvals for its projects launch pipeline

Management Commentary

Mr. Dhaval Ajmera, Director - Corporate Affairs, stated that the performance was supported by sustained customer demand across ongoing projects and disciplined execution. He highlighted the strong revenue growth of 33% YoY in H1FY27, EBITDA growth of 28%, and PAT growth of 32%. The company's focus on financial discipline and prudent capital allocation was emphasized through the improved debt-to-equity ratio of 0.44x. He indicated that the robust pipeline of upcoming launches positions the company to deliver a stronger performance in the second half of the financial year.

Company Background

Ajmera Realty & Infra India Limited (ARIIL) is a real estate developer founded in 1968 with over 100 projects covering more than 20 million sq. ft. The company has a PAN-India presence focusing on residential, commercial, and mixed-use developments across affordable, premium, and luxury segments. Current projects include 'Ajmera Manhattan 1&2', 'Ajmera Greenfinity', 'Ajmera Vihara', '33Fifteen', 'Vann by Ajmera', 'Ajmera Solis' in Mumbai, and 'Ajmera Iris', 'Ajmera Marina' in Bengaluru.