Ajmera Realty & Infra India Ltd · NSE:AJMERA
Ajmera Realty & Infra India — H1 FY26 Earnings Presentation
40 slides from Ajmera Realty & Infra India's earnings presentation, Nov 6, 2025
Slide 1: Stock exchange intimation letter
Ref: SEC/ARIIL/BSE-NSE/2025-26 Date: November 06, 2025 To, To, The Manager, The Manager – Listing, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, 5th Floor, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Bandra (East) Mumbai – 400 001 Mumbai - 400051 Script Code
Slide 2: Earnings Presentation H1 FY26
H1 FY26 H1 FY26 Ajmera Realty & Infra India Limited EARNINGS PRESENTATION H1 FY26 www.ajmera.com
Slide 3: Disclaimer
H1 FY26 Disclaimer The information in this presentation contains certain the ability to implement our growth, expansion plans & forward-looking statements. These include statements strategy; fluctuations in currency exchange rates; regarding the intent, plans, objectives, goals, strategies, changes
Slide 4: Company Snapshot
H1 H1 FY26 FY26 Company Snapshot 1.8 MSF 1.6 MSF 20+ 46,000+ Ongoing development 7 projects in pipeline for development MSF Families Early creator of townships in the micro Possessions handed INR 828 Cr 10.5 MSF markets of Mira Road, over with the Sales Value Achieved Future development Andheri, Bor
Slide 5: Performance & Operations Business Updates
H1 FY26 H1 FY26 PERFORMANCE & OPERATIONS BUSINESS UPDATES
Slide 6: Key Business Highlights – H1 FY26
H1 FY26 Key Business Highlights – H1 FY26 2,93,016 Sq.ft INR 481 Cr Sales Volume Total Revenue 20% YoY Increase 20% YoY Increase INR 828 Cr INR 139 Cr Sales Value EBITDA 48% YoY Increase 6% YoY Increase INR 454 Cr INR 71 Cr Collections Profit After Tax 52% YoY Increase 2% YoY Increase INR 720 Cr Lau
Slide 7: Project Sales & Collections – Q2 & H1 FY26
H1 FY26 Project Sales & Collections – Q2 & H1 FY26 Q2 FY26 H1 FY26 Sales Volume Sales Value Units Collections Sales Volume Sales Value Units Collections Project Location (Sq.ft.) (INR Cr) (Nos) (INR Cr) (Sq.ft.) (INR Cr) (Nos) (INR Cr) Nucleus - Comm Bangalore - - - 7 12,032 10 1 22 Greenfinity – CD
Slide 8: Operational Highlights – H1 FY26
H1 FY26 Operational Highlights – H1 FY26 Operational Performance SALES VALUE (INR Cr) COLLECTIONS (INR Cr) REALISATION (INR per sq.ft.) 454 828 28,261 20% YoY increase in Sales Volume 560 298 22,874 48% YoY increase in Sales Value 52% YoY increase in Collection H1 FY25 H1 FY26 H1 FY25 H1 FY26 H1 FY2
Slide 9: Financial Highlights – H1 FY26
H1 FY26 Financial Highlights – H1 FY26 Financial Performance TOTAL REVENUE (INR Cr) EBITDA (INR Cr) & EBITDA MARGIN (%) 20% YoY increase in Total Revenue 481 400 139 131 6% YoY increase in EBITDA 33% 29% 12% YoY increase in PBT H1 FY25 H1 FY26 H1 FY25 H1 FY26 2% YoY increase in PAT PBT (INR Cr) PAT
Slide 10: Performance Trend
H1 FY26 Performance Trend SALES VALUE (INR Cr) COLLECTIONS (INR Cr) SALES VOLUME (Lakh Sq. ft.) 1,080 646 1,017 570 842 532 5.9 828 454 4.7 3.7 2.9 FY23 FY24 FY25 H1 FY26 FY23 FY24 FY25 H1 FY26 FY23 FY24 FY25 H1 FY26 EBITDA (INR Cr) & PAT (INR Cr) TOTAL REVENUE (INR Cr) EBITDA MARGIN (%) & PAT MARGI
Slide 11: Continued De-leveraging & Improving Debt Profile
H1 FY26 Continued De-leveraging & Improving Debt Profile SECURED DEBT & DEBT TO EQUITY RATIO 1.00 0.97 1.00 0.90 0.85 0.80 0.55 0.60 0.55 0.40 776 786 793 780 0.20 690 662 0.00 230 246 442 510 495 590 546 540 338 283 167 100 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Corporate Debt (INR Cr) Project D
Slide 12: Continued De-leveraging & Improving Debt Profile
H1 FY26 Continued De-leveraging & Improving Debt Profile AVG. COST OF DEBT & REPO RATE 13.70% 12.10% 11.98% 12.22% 12.20% 11.51% 6.50% 6.50% 6.50% 6.50% 6.25% 5.50% Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Avg. Cost of Debt (%) Repo Rate (%) 11
Slide 13: Portfolio Update & Strategy
H1 FY26 H1 FY26 PORTFOLIO UPDATE & STRATEGY
Slide 14: Our Portfolio
H1 FY26 Our Portfolio 20.3 Mn Sq.ft. 1.8 Mn Sq.ft. 1.6 Mn Sq.ft. 10.5 Mn Sq.ft. 13.9 Mn Sq.ft. Ongoing Future Completed Potential Total Development Projects Portfolio Launches Portfolio Potential 46,000+ 8 ongoing projects in 7 projects to be Owned land bank Homes delivered Mumbai & Bangalore launch
Slide 15: Micro Market Presence
H1 FY26 Micro Market Presence Yelahanka Ajmera Marina Thirty3.15 Ajmera Eden Ghatkopar Bandra Bhandup Wadala Ajmera Manhattan Ajmera Lugaano & 1 and 2 Ajmera Vihara Ajmera Florenza Completed Destinations UnderDevelopment Destinations Future Launches Ajmera Greenfinity MUMBAI METROPOLITAN REGION Ajme
Slide 16: Revenue Visibility – OC Received Projects
H1 FY26 Revenue Visibility OC Received Projects Total Sales Book Balance Unsold Completion Total Carpet Revenue Estimated Revenue as on 30 Revenue Carpet Projects Ownership as on Carpet Area Area Recognised Sale value Potential Sep 2025 Recognition Area 30 Sep 2025 (Sq.ft.) Sold (INR Cr) (INR Cr) (I
Slide 17: Revenue Visibility – Ongoing Projects
H1 FY26 Revenue Visibility Ongoing Projects Total Sales Book as Balance Unsold Completion Total Revenue Estimated Revenue Carpet on 30 Sep Revenue Carpet Projects Ownership as on Carpet Area Recognised Sale value Potential Area sold 2025 Recognition Area (INR Cr) 30 Sep 2025 (Sq.ft.) (INR Cr) (INR C
Slide 18: Ongoing Project Update
H1 FY26 Ongoing Project Update Ajmera Manhattan 1 Ajmera Vihara Ajmera Eden 89% 81% 98% of Inventory Sold of Inventory Sold of Inventory Sold Rehab Building: 9th floor RCC - slab WIP, RCC completed Tower A: 37th Level WIP Sale Building: Plinth floor MEP & Finishing WIP Tower B: 35th Level WIP level
Slide 19: Ongoing Project Update
H1 FY26 Ongoing Project Update Ajmera Greenfinity Ajmera Iris Ajmera Marina 74% 70% 68% of Inventory Sold of Inventory Sold of Inventory Sold Block 1&2: Slab Terrace level slab WIP Shuttering WIP PCC & Raft Block 3: RCC Completed Foundation WIP Aug’27 Dec’28 Dec’28 Estimated project Estimated projec
Slide 20: Ongoing Project launched in Q2 FY26
H1 FY26 Ongoing Project launched in Q2 FY26 Manhattan 2 Thirty3.15 38% 5% of Inventory Sold of Inventory Sold Shore Piling WIP Shore Piling WIP Jul’30 May’29 Estimated project Estimated project timelines as per RERA timelines as per RERA 19
Slide 21: Potential Launches
H1 FY26 Potential Launches Estimated Estimated Estimated Estimated Ownership Project Location Launch Completion GDV Carpet Area (%) (Quarter, Year) (Quarter, Year) (INR Cr) (Sq.ft.) Codename Vikhroli Mumbai 100% Q3 FY26 Q2 FY29 700 3,15,629 Codename Versova Mumbai 100% Q3 FY26 Q2 FY29 450 90,792 Yeh
Slide 22: Revenue Visibility
H1 FY26 Revenue Visibility OC Received Projects Ongoing Projects (Manhattan 1 & 2, Thirty3.15, Eden, Greenfinity AB, (Nucleus, Prive, Lugaano & Florenza) Vihara, Iris and Marina) INR 9 Cr INR 82 Cr INR 1,573 Cr INR 1,935 Cr From committed sales From unsold inventory From committed sales From unsold
Slide 23: Wadala Outlook: Value Unlocking by Fast-Tracking Launches
H1 FY26 Wadala Outlook : Value Unlocking by Fast-Tracking launches FY26 FY27 Onwards in about 4 years ~One-third of over ₹12,000 crore of potential GDV is expected to be launched Balance development potential Boutique Office Development Carpet Area ~GDV Category (Lakh Sq. ft.) (₹ Cr) Est. GDV: ₹1,80
Slide 24: Owned Land Bank – Wadala upcoming phases
H1 FY26 Owned Land Bank – Wadala upcoming phases Development Carpet Area Category (Lakh Sq. ft.) Residential 9.0 Uber Residential 13.8 Total Carpet Area 22.8 Estimated GDV 8,900 (INR Cr) 23
Slide 25: Owned Land Bank – Kanjurmarg
H1 FY26 Owned Land Bank – Kanjurmarg Development Carpet Area Category (Lakh Sq. ft.) Residential 34.6 Retail Hospitality 47.8 Commercial Total Carpet Area 82.4 Estimated GDV 29,000 (INR Cr) Master planning is currently underway; development proportions are subject to change 23
Slide 26: Development potential – Owned Land Bank Summary
H1 FY26 Development potential – Owned Land Bank Summary Estimate d Carpet Estimated GDV ARIIL Location Development Category Area Development Plan Stake (INR Cr) (in lakh Sq.ft.) Manhattan 2 5.4 100% Launched in September 2025 1,750 Wadala Upcoming 22.8 100% Phase-wise launch within 1-3 years 8,900 (
Slide 27: Portfolio Expansion: How we are scaling up
H1 FY26 Portfolio Expansion How we are scaling up SALES VALUE (INR Cr) Parameter Existing Future Growing 1.8 msf 3.4 msf portfolio size 1,600 Expanding 1,080 2.1 msf 1.6 msf* Launch Pipeline 1,017 842 Maximizing INR 2,017 Cr INR 4,357 Cr Sales Inventory 431 828 Geographical 6 locations 10 locations
Slide 28: 5X Road Map – Strategy
H1 FY26 5X ROAD MAP – Strategy Organic Growth Inorganic Growth Strategic Locational Robust & Responsible Strategy Strategy Advantage & Diverse Execution efficiency Offerings • Unlocking potential of • Expanding aggressively in • Properties and land banks with • Operational excellence owned land bank
Slide 29: Financial Results Summary
Q1 FY26 H1 FY26 FINANCIAL RESULTS SUMMARY
Slide 30: Consolidated Financial Summary – Q2 & H1 FY26
H1 FY26 Consolidated Financial Summary – Q2 & H1 FY26 Profit & Loss Statement Particulars (INR Cr ) Q2 FY26 Q2 FY25 YoY Q1 FY26 QoQ H1 FY26 H1 FY25 YoY Total Revenue 221.0 204.1 8% 259.6 -15% 480.5 400.3 20% Total Expenses 161.1 139.5 15% 180.3 -11% 341.3 269.0 27% EBITDA 59.9 64.5 -7% 79.3 -24% 139
Slide 31: Consolidated Financial Summary – H1 FY26 Balance Sheet
H1 FY26 Consolidated Financial Summary – H1 FY26 Balance Sheet Statement EQUITY AND LIABILITIES (INR Cr) H1 FY26 FY25 ASSETS (INR Cr) H1 FY26 FY25 Equity Share Capital 39.4 39.4 Property Plant & Equipment 35.2 35.2 Capital Work in Progress - - Other Equity 1,221.8 1,167.2 Net Worth 1,261.2 1,206.5 I
Slide 32: Consolidated Financial Summary – Cash Flow Statement
H1 FY26 Consolidated Financial Summary – Q2 & H1 FY26 Cash Flow Statement Particulars (INR Cr) Q2 FY26 H1 FY26 Particulars (INR Cr) Q2 FY26 H1 FY26 (A) Operating Inflows 219.9 453.6 (F) Net Financing Cashflow 56.4 35.8 Collection 219.9 453.6 Loan Withdrawal/(Repayment) 71.8 29.3 Other Operating Inco
Slide 33: Cash Flow Potential
H1 FY26 Cash Flow Potential Parameters Completed Projects Ongoing Projects Total (pre-tax & post-debt) (INR Cr) (INR Cr) (INR Cr) Balance receivables from sold units 57 1,788 1,845 Value of unsold inventory 82 1,936 2,018 Balance Cost to complete - 1,859 1,859 Project Outstanding Debt 18 460 478 Est
Slide 34: Guidance vs Actual
H1 FY26 Guidance vs Actual FY25E FY25 FY26E H1 FY26 Sales Value Sales Guidance Sales Value INR 1,080 Cr INR 1,600 Cr INR 828 Cr Project Additions Project Additions Project Additions INR 2,510 Cr INR 3,750 Cr INR 0 Cr Debt / Equity Debt / Equity Debt / Equity 0.55x 0.85x 0.55x Actual Guidance 32
Slide 35: ESG
Q1 FY26 H1 FY26 ESG ENVIRONMENT | SOCIAL | GOVERNANCE
Slide 36: ESG – Environmental Initiatives
H1 FY26 ESG Environmental Initiatives Incorporate green buildings standards like IGBC Certification Partnered with waste Use low- emission construction management companies to Provide energy-efficient machinery and equipment. ensure proper disposal and lighting and HVAC systems recycling of material
Slide 37: ESG – Social Initiatives
H1 FY26 ESG Educational Support: Providing financial assistance for children’s education up to 10th grade from underprivileged families Healthcare Access: Partnering with Nidan World Healthcare to deliver 3D mammography services to those in need Social Initiatives Support at Swaminarayan Hospital: M
Slide 38: ESG – Governance
Q1-FY26 H1 FY26 ESG Some of our Policies for Effective Governance Governance • Code of Insider Trading Policy • Policy on Preservation of Documents • Archival Policy Strong Governance Practices • Dividend Distribution Policy • Board diversity policy Board consists of professionals • Directors and Of
Slide 39: Shareholding & Price Movement
H1 FY26 Shareholding & Price Movement Shareholder Information as SHARE PRICE PERFORMANCE on 30 September 2025 85.0% BSE Ticker 513349 65.0% NSE Symbol AJMERA Market Cap* (in INR Cr) 3,896 45.0% 45% Promoter holding % 68.2% 25.0% % Free-Float 31.8% 5.0% Free-Float Market Cap* (in INR Cr) 940 -5% Shar
Slide 40: Thank You
H1 FY26 THANK YOU Ajmera Realty & Infra India Limited E-mail: ir@ajmera.com Website: www.ajmera.com CIN No.: L27104MH1985PLC035659 Registered Office: Ajmera Realty & Infra India Ltd , 2nd Floor, Citi Mall, Andheri Link Road, Andheri (West), Mumbai - 400053 Phone: 022 - 6698 4000
Ajmera Realty & Infra India — H1 FY26 Earnings Presentation on 6ix