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Revenue
₹182 Cr
verified against source
Revenue YoY
11%
reported change
EBITDA
₹196 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Ajmera Realty delivered a stellar 9M FY26 with 1,431 cr in sales (+72% YoY) and 787 cr in collections (+70% YoY), driven by the blockbuster launch of Solace at Vikhroli (84% sold in 48 hours) and strong execution across projects. Revenue grew 11% YoY to 664 cr, with EBITDA margin at 30% and PAT at 99 cr. The Vadala master plan revision tripled the boutique office GDV to 5,300 cr, unlocking significant value. Management maintained FY26 sales guidance of 1,600 cr and expects to surpass it. Key risks include delays in the Kanjurmarg launch (still awaiting EC approvals) and potential slowdown in luxury sales velocity post-launch spikes.
Colored figures show movement against the previous available record.
Guidance to track
- Management stated they are poised to surpass the full-year sales guidance of 1,600 cr given the 9M performance of 1,431 cr.
- Management confirmed Kanjurmarg launch is still targeted for Q4 FY26 but acknowledged it is 'touch and go'; most conservative estimate is Q1 FY27.
- The revised boutique office project (16 lakh sq ft) is expected to launch in Q1 or Q2 of next financial year.
- Management is confident of meeting the 3,750 cr project addition guidance for FY26, with active discussions on 2-3 properties.
Risks flagged
- EC application not yet filed; CFO and collector approvals still in process. Launch may slip beyond Q4 FY26.
- Manhattan 2 saw lower unit sales in Q3 vs Q2; management attributed to price hikes and seasonal lull, but velocity may not sustain.
- Post-Supreme Court ruling, many projects are seeking approvals, potentially increasing supply and pressuring pricing.
- Process slowed due to elections; no clear timeline provided, which could impact project viability.
Key quotes
- We have achieved our highest ever sales that is 1431 crores in till this 9 months and overall across and this performance has been driven by overwhelming response from customers for our new launches.
- Our total value of project in Vadala itself is now turned out to almost 16,000 crores coming from unlocking from the Vadala micro market itself.
- We are not too worried about the sales velocity because brand plays a very very important role.
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