Ajmera Realty & Infra India Ltd · NSE:AJMERA
Ajmera Realty & Infra India — 9M FY26 Earnings Presentation
39 slides from Ajmera Realty & Infra India's earnings presentation, Jan 29, 2026
Slide 1: Exchange filing cover letter for investor presentation
AJMERA REALTY & INFRA INDIA LTD. Regd. Of f ice: Citi Mall, Link Road, Andheri (W), Mumbai - 400 053. Tel.: +91-22-6698 4000 • Email: investors@ajmera.com • Website: www.ajmera.com CIN : L27104 MH 1985 PLC035659 Ref: SEC/ARIIL/BSE-NSE/2025-26 Date: 29 th January, 2026 To, To, The Manager, The Manage
Slide 2: Earnings Presentation 9M FY26
9M FY26 9M FY26 Ajmera Realty & Infra India Limited EARNINGS PRESENTATION 9M FY26 www.ajmera.com
Slide 3: Disclaimer
9M 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
9M 9M FY26 FY26 Company Snapshot 2.0 MSF 0.6 MSF 20+ 46,000+ Ongoing development 4 projects in pipeline for development MSF Families Early creator of townships in the micro Possessions handed INR 1,431 Cr 12.1 MSF markets of Mira Road, over with the Sales Value Achieved Future development Andheri, B
Slide 5: Performance & Operations Business Updates
9M FY26 9M FY26 PERFORMANCE & OPERATIONS BUSINESS UPDATES
Slide 6: Key Business Highlights – 9M FY26
9M FY26 Key Business Highlights – 9M FY26 5,55,991 Sq.ft INR 664 Cr Sales Volume Total Revenue 36% YoY Increase 11% YoY Increase INR 1,431 Cr INR 196 Cr Sales Value EBITDA 72% YoY Increase -2% YoY Increase INR 787 Cr INR 99 Cr Collections Profit After Tax 70% YoY Increase -4% YoY Increase INR 2,015
Slide 7: Project Sales & Collections – Q3 & 9M FY26
9M FY26 Project Sales & Collections – Q3 & 9M FY26 Q3 FY26 9M 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 24,092 20 2 2 36,124 30 3 24 Greenfinit
Slide 8: Operational Highlights – 9M FY26
9M FY26 Operational Highlights – 9M FY26 Operational Performance SALES VALUE (INR Cr) COLLECTIONS (INR Cr) REALISATION (INR per sq.ft.) 787 72% YoY increase in Sales Value 1,431 25,740 830 464 70% YoY increase in Collection 20,246 36% YoY increase in Sales Volume 9M FY25 9M FY26 9M FY25 9M FY26 9M F
Slide 9: Financial Highlights – 9M FY26
9M FY26 Financial Highlights – 9M FY26 Financial Performance TOTAL REVENUE (INR Cr) EBITDA (INR Cr) & EBITDA MARGIN (%) 664 11% YoY increase in Total Revenue 200 196 -2% YoY increase in EBITDA 599 33% 30% 6% YoY increase in PBT 9M FY25 9M FY26 9M FY25 9M FY26 -4% YoY increase in PAT PBT (INR Cr) & P
Slide 10: Performance Trend
9M FY26 Performance Trend SALES VALUE (INR Cr) COLLECTIONS (INR Cr) SALES VOLUME (Lakh Sq. ft.) 1,431 787 1,080 646 5.9 1,017 570 5.6 532 4.7 842 3.7 FY23 FY24 FY25 9M FY26 FY23 FY24 FY25 9M FY26 FY23 FY24 FY25 9M FY26 EBITDA (INR Cr) & PAT (INR Cr) TOTAL REVENUE (INR Cr) EBITDA MARGIN (%) & PAT MAR
Slide 11: Continued De-leveraging & Improving Debt Profile
9M FY26 Continued De-leveraging & Improving Debt Profile SECURED DEBT & DEBT TO EQUITY RATIO 0.97 0.90 1.00 0.85 0.80 0.55 0.55 0.60 0.58 0.40 786 780 793 754 0.20 662 690 0.00 246 442 510 495 654 590 540 338 283 167 100 100 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Dec-25 Corporate Debt (INR Cr) Project D
Slide 12: Continued De-leveraging & Improving Debt Profile
9M FY26 Continued De-leveraging & Improving Debt Profile AVG. COST OF DEBT & REPO RATE 12.10% 11.98% 12.22% 12.20% 11.51% 11.59% 6.50% 6.50% 6.50% 6.25% 5.50% 5.25% Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Dec-25 Avg. Cost of Debt (%) Repo Rate (%) 11
Slide 13: Portfolio Update & Strategy
9M FY26 9M FY26 PORTFOLIO UPDATE & STRATEGY
Slide 14: Our Portfolio
9M FY26 Our Portfolio 20.4 Mn Sq.ft. 2.0 Mn Sq.ft. 0.6 Mn Sq.ft. 12.1 Mn Sq.ft. 14.7 Mn Sq.ft. Ongoing Future Completed Potential Total Development Projects Portfolio Launches Portfolio Potential 46,000+ 8 ongoing projects in 4 projects to be Owned land bank Homes delivered Mumbai & Bengaluru launch
Slide 15: Micro Market Presence
9M FY26 Micro Market Presence Yelahanka Ajmera Marina 33Fifteen Ajmera Solis Vikhroli Bandra Bhandup Wadala Ajmera Manhattan 1 and 2 Ajmera Vihara Completed Destinations UnderDevelopment Destinations Future Launches Ajmera Greenfinity MUMBAI METROPOLITAN REGION Ajmera Iris BENGALURU Future Developme
Slide 16: Revenue Visibility: OC Received Projects
9M FY26 Revenue Visibility OC Received Projects Total Sales Book Balance Unsold Completion Total Carpet Revenue Estimated Revenue as on 31 Revenue Carpet Projects Ownership as on Carpet Area Area Recognised Sale value Potential Dec 2025 Recognition Area 31 Dec 2025 (Sq.ft.) Sold (INR Cr) (INR Cr) (I
Slide 17: Revenue Visibility: Ongoing Projects
9M FY26 Revenue Visibility Ongoing Projects Total Sales Book as Balance Unsold Completion Total Revenue Estimated Revenue Carpet on 31 Dec Revenue Carpet Projects Ownership as on Carpet Area Recognised Sale value Potential Area sold 2025 Recognition Area (INR Cr) 31 Dec 2025 (Sq.ft.) (INR Cr) (INR C
Slide 18: Ongoing Project Update
9M FY26 Ongoing Project Update Ajmera Manhattan 1 Ajmera Vihara Ajmera Greenfinity 89% 81% 79% of Inventory Sold of Inventory Sold of Inventory Sold RCC - Rehab Building: 15th RCC completed MEP Tower A: 43rd Level WIP floor slab WIP, & Finishing WIP Tower B: 41st Level WIP Sale Building: 1st floor s
Slide 19: Ongoing Project Update
9M FY26 Ongoing Project Update Ajmera Iris Ajmera Marina 76% 68% of Inventory Sold of Inventory Sold Block 1&2: Terrace Slab WIP Ground Floor Block 3: MEP & Finishing slab WIP WIP Dec’28 Dec’28 Estimated project Estimated project timelines as per RERA timelines as per RERA 18
Slide 20: Ongoing Project launched in FY26
9M FY26 Ongoing Project launched in FY26 Manhattan 2 33Fifteen Solis 40% 17% 84% of Inventory Sold of Inventory Sold Inventory sold Of Phase 1 Tower Piling WIP Shore Piling WIP Shore Piling WIP Jul’30 May’29 Jul’30 Estimated project Estimated project Estimated project timelines as per RERA timelines
Slide 21: Potential Launches
9M 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 Phase 2 Mumbai 100% Q4 FY26 Q3 FY29 157 70,974 Codename Versova Mumbai 100% Q4 FY26 Q3 FY29 450 90,7
Slide 22: Revenue Visibility
9M FY26 Revenue Visibility OC Received Projects Ongoing Projects (Manhattan 1 & 2, Thirty3.15, Solis, Greenfinity AB, (Nucleus, Prive, Lugaano & Florenza, Eden) Vihara, Iris and Marina) INR 47 Cr INR 52 Cr INR 1,956 Cr INR 2,043 Cr From committed sales From unsold inventory From committed sales From
Slide 23: Wadala Outlook: Value Unlocking by Fast-Tracking Launches
9M FY26 Wadala Outlook : Value Unlocking by Fast-Tracking launches Development Carpet Area ~GDV Category (Lakh Sq. ft.) (INR Cr) FY26 FY27 Onwards in about 4 years Manhattan 2 5.4 1,750 Balance potential to be executed in phases Boutique Office 6.0 1,800 Boutique Office Uber Residential Upcoming ~22
Slide 24: Owned Land Bank – Wadala upcoming phases
9M FY26 Owned Land Bank – Wadala upcoming phases Uber residential Development Carpet Area Manhattan 1 Category (Lakh Sq. ft.) Manhattan 2 Upcoming phases Residential 9.0 Uber Residential 13.8 Boutique office Boutique office 16.0 Total Carpet Area 38.8 Estimated GDV 14,200 (INR Cr) 23
Slide 25: Owned Land Bank – Kanjurmarg
9M 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 24
Slide 26: Development potential – Owned Land Bank Summary
9M FY26 Development potential – Owned Land Bank Summary Estimated Carpet Area ARIIL Estimated GDV Location Development Category Development Plan (in lakh Stake (INR Cr) 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 (R
Slide 27: Portfolio Expansion: How we are scaling up
9M FY26 Portfolio Expansion How we are scaling up SALES VALUE (INR Cr) Parameter Existing Future Growing 2.0 msf 2.6 msf portfolio size 1,600 Expanding 2.6 msf 0.6 msf* 1,080 Launch Pipeline 1,017 842 Maximizing INR 2,095 Cr INR 1,491 Cr Sales Inventory 1,431 431 Geographical 6 locations 10 location
Slide 28: 5X Road Map – Strategy
9M 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
9M FY26 9M FY26 FINANCIAL RESULTS SUMMARY
Slide 30: Consolidated Financial Summary – Q3 & 9M FY26
9M FY26 Consolidated Financial Summary – Q3 & 9M FY26 Profit & Loss Statement Particulars (INR Cr ) Q3 FY26 Q3 FY25 YoY Q2 FY26 QoQ 9M FY26 9M FY25 YoY Total Revenue 183.5 199.1 -8% 221.0 -17% 664.1 599.4 11% Total Expenses 126.6 130.3 -3% 161.1 -21% 467.9 399.2 17% EBITDA 57.0 68.8 -17% 59.9 -5% 19
Slide 31: Consolidated Financial Summary – Cash Flow Statement
9M FY26 Consolidated Financial Summary – Q3 & 9M FY26 Cash Flow Statement Particulars (INR Cr) Q3 FY26 9M FY26 Particulars (INR Cr) Q3 FY26 9M FY26 (A) Operating Inflows 333.0 786.6 (F) Net Financing Cashflow 44.1 79.9 Collection 333.0 786.6 Loan Withdrawal/(Repayment) 63.5 92.7 Other Operating Inco
Slide 32: Cash Flow Potential
9M 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 111 2,004 2,115 Value of unsold inventory 52 2,043 2,095 Balance Cost to complete - 2,179 2,179 Project Outstanding Debt 27 560 587 Es
Slide 33: Guidance vs Actual
9M FY26 Guidance vs Actual FY25E FY25 FY26E 9M FY26 Sales Value Sales Guidance Sales Value INR 1,080 Cr INR 1,600 Cr INR 1,431 Cr Project Additions Project Additions Project Additions INR 2,510 Cr INR 3,750 Cr INR 2,015 Cr Debt / Equity Debt / Equity Debt / Equity 0.55x 0.85x 0.58x Actual Guidance 3
Slide 34: ESG
9M FY26 9M FY26 ESG ENVIRONMENT | SOCIAL | GOVERNANCE
Slide 35: ESG – Environmental Initiatives
9M 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 36: ESG – Social Initiatives
9M FY26 ESG Educational Support: Providing financial assistance for children’s education up to 10th grade from underprivileged families Medical Assistance: Sponsored critical cardiac procedures, including Angioplasty and Bypass Surgery, at Social Kikabhai Hospital for patients in need Initiatives Wa
Slide 37: ESG – Governance
Q1-FY26 9M 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 38: Shareholding & Price Movement
9M FY26 Shareholding & Price Movement Shareholder Information as 45.0% SHARE PRICE PERFORMANCE on 31 December 2025 35.0% BSE Ticker 513349 25.0% NSE Symbol AJMERA Market Cap* (in INR Cr) 3,780 15.0% Promoter holding % 68.2% 5.0% 6% % Free-Float 31.8% -5.0% -9% Free-Float Market Cap* (in INR Cr) 1,20
Slide 39: Thank You
9M 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
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