AJMERAConsumer Discretionary

Ajmera Realty & Infra India Limited

Residential, Commercial Projects · ISIN INE298G01035 · BSE 513349 · NSE EQ · FV ₹2
Last price
₹140
+5.54%today
What this company does

Ajmera Realty & Infra India Limited operates in Residential, Commercial Projects, part of the Consumer Discretionary sector. It booked ₹317 cr of revenue in its latest quarter (Q2 FY27) and kept 15.3% of sales as profit.

In the report:
63out of 100
Equitytale Health Score
Mixed

Healthier than 63% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 69–428 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
62

At close. Not part of the score.

Profitability & returns73

How much profit it earns on the money it employs

Balance sheet56

How much it owes, and whether earnings cover the interest

Cash quality44

Whether reported profit actually arrives as cash

Growth & consistency89

Whether sales and profit have grown, and how steadily

Valuation26

What today's price implies, against our models or its peers

Governance & risk97

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 15% net margin
✓ Sales up 45% vs last year
✓ Profit up 55% vs last year
✓ Promoters hold 69%
✓ Turns profit into real cash
Watch-outs
! 0.0% of promoter stake pledged

What if I invest in AJMERA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹140▲ +5.54%
latest close · 2026-11-04
52-wk low ₹10974 sessions so far52-wk high ₹146
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio15.3Average
LowAverageHigh
P/B ratio1.87Moderate
Below bookModerateHigh
EV / EBITDA10.0Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity13.2%Fair
WeakFairStrong ▸15%
Return on capital15.3%Strong
WeakFairStrong
Net margin15.3%Strong
ThinDecentStrong
EBITDA margin26.5%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.41Comfortable
LowModerateHigh ▸1
Interest cover5.0×Strong
RiskyOkayStrong ▸5×
Current ratio6.16Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹2,750 cr
Book value
₹75
EPS
₹2.29
latest quarter
Net debt
₹622 cr
owes more than its cash
Enterprise value
₹3,372 cr
EBITDA
₹336 cr
annualised
EBIT
₹329 cr
annualised
Operating margin
26.0%
Return on assets
7.7%
Earnings yield
6.55%
P/S
2.17
Sales / share
₹64.4
Tax rate
27.4%
Face value
₹2
Shares
19.7 cr
Working capital
₹1,868 cr
Current assets
₹2,230 cr
Current liabilities
₹362 cr
Delivery %
50.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹66 vs market price ₹140 — price is 111% above it
Safety cushion-110.7%(target ≥ +20%)
Models span ₹52–₹80, midpoint ₹66
Model ₹66
Price ₹140
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹317 cr
Other Income₹3 cr
Total Income₹319 cr
Cost of Materials₹190 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹31 cr
Employee Benefit Expense₹15 cr
Finance Costs₹16 cr
Depreciation & Amortisation₹2 cr
Total Expenses₹254 cr
Profit before Tax₹66 cr
Tax Expense₹18 cr
Share of JV / Associates₹59 L
Net Profit₹48 cr
Net margin on total income15.2%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹221 cr69.0%
Employee benefit expense₹15 cr4.6%
Finance costs₹16 cr5.1%
Depreciation & amortisation₹2 cr0.5%
Tax expense₹18 cr5.6%
Profit for the period₹48 cr15.1%
Total income ₹319 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue431 cr317 cr317 cr
Total income434 cr320 cr319 cr
Expenses347 cr258 cr254 cr
Profit before tax87 cr62 cr66 cr
Tax28 cr17 cr18 cr
Net profit (owners' share)56 cr43 cr48 cr
Net margin (owners' share, on revenue)12.9%13.6%15.3%
EPS (₹)2.832.192.29
YoY (latest quarter): total income +44.6% · net profit +55.2%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹2,515 cr
Shareholder equity
₹1,467 cr
parent shareholders
Total debt
₹654 cr
Cash
₹33 cr
Cash flow · H1 FY27
Operating
₹122 cr
Investing
₹92 L
Financing
₹-124 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limited₹709₹1.75 L cr33.8
Aditya Birla Real Estate Limited₹1,036₹1.27 L cr34.5
Lodha Developers Limited₹1,061₹1.06 L cr26.2
The Phoenix Mills Limited₹2,049₹73,277 cr56.2
Prestige Estates Projects Limited₹1,537₹66,199 cr70.1
Oberoi Realty Limited₹1,677₹60,976 cr20.0
Godrej Properties Limited₹1,670₹47,434 cr81.5
Brigade Enterprises Limited₹527₹17,189 cr22.2
Anant Raj Limited₹444₹15,967 cr25.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.72%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 16 Sep 2026
ActionDetailEx-date
Dividend₹1 / share16 Sep 2026
Stock splitStock Split From Rs.10/- to Rs.2/-14 Jan 2026
Dividend₹4.5 / share2 Sep 2025
Dividend₹4 / share2 Aug 2024
Dividend₹3 / share4 Aug 2023
Dividend₹2.25 / share11 Aug 2022
Who owns it · 2026-09-30
⚑ 0.0% pledged
Promoter
68.6%
FII / Foreign
0.8%
DII / Domestic
0.9%
Retail / others
29.8%
Promoter stake down 5.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldRUSHABH INVESTMENT PRIVATE LIMITED · Promoter Group51,000 · ₹4.2 cr19 Mar 25
BoughtARIIL TRUST · Promoter Group34,000 · ₹20.0 cr6 Feb 25
BoughtARIIL TRUST · Promoters6.34 L · ₹6.2 cr26 Nov 20
Bulk / block deals
short— · NSE516 Jan 26
BoughtQUEST INVESTMENT ADVISORS PRIVATE LIMITED - PMS MULTI · NSE2.00 L @ ₹42519 Dec 23
BoughtQUEST INVESTMENT ADVISORS PRIVATE LIMITED - PMS · NSE3.01 L @ ₹424.9819 Dec 23
Stake changes
BoughtManoj I Ajmera · promoter→ 68.56% · 6.41 L4 Jun 26
BoughtShashikant S. Ajmera, and on behalf of the Acquirers & PAC · promoter→ 74.19% · 15.83 L9 Feb 24
BoughtARllL Trust · promoter→ 59.37% · 6.34 L26 Nov 20
Promoter pledges
ReleasedUnion Bank of India2.50 L · 0.78% held23 Jun 25
PledgedAditya Birla Finance Limited51,000 · 0.64% held19 Mar 25
ReleasedICICI Bank Ltd34,000 · 0.08% held6 Feb 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 23 Sep 2026
See the official result
1
1.To receive, consider and adopt (a) the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the report of Board of Directors’ and Auditors’ thereon and (b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with Auditors’ Report thereon.
Backed by 100% of shareholders other than promotersneeded 50%
2.06 cr votes for, 70 against · 0% of mutual funds and other big investors said no
2
For declaration of final dividend of Re. 1/- on the Equity Shares of Rs. 2/- each of the Company for the financial year ended 31st March, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
2.06 cr votes for, 70 against · 0% of mutual funds and other big investors said no
3
For re-appointment of a director in place of Mr. Manoj I. Ajmera (DIN: 00013728), who retires by rotation and being eligible, offered himself for re-appointment.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
2.06 cr votes for, 122 against · 0% of mutual funds and other big investors said no
4
For re-appointment of Mr. Manoj I. Ajmera (DIN: 00013728), as Managing Director of the Company
Promoters had a personal stake in this
Backed by 97% of shareholders other than promotersneeded 75%
2.00 cr votes for, 5.94 L against · 86% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 41 named members
owning 68.5% between them · as of 2026-09-30
ARIIL TRUST represented by Shashikant S. Ajmera, Rajnikant S. Ajmera, Manoj I. Ajmera, Trustee54.59%
FAHRENHEIT FUN AND GAMES PRIVATE LIMITED4.00%
CHHOTALAL SHAMALJI AJMERA3.81%
CHHOTALAL S AJMERA HUF1.97%
ISHWARLAL S AJMERA HUF .1.15%
RUSHABH INVESTMENT PRIVATE LIMITED0.78%
CHARMI PARAS PAREKH0.64%
HENALI JAYANT AJMERA0.63%
Business done with them
FY2024 · 1 of the group
The company paid ₹57.9 L to companies in the promoter group last year — about 0.1% of its ₹700 cr revenue.
Mr. Sanjay Chhotalal Ajmera
Other payments to them · Remuneration paid
₹57.9 L
company paid

The company also transacted with 18 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

Money raised in Nov 2024 by selling shares to selected investors

As of Jun 2025, the company says it has spent 13% of what it set aside. Crisil Ratings Limited watches the spending on the exchange’s behalf.

Part-repayment of Debt
0%
of what was set aside
Part funding the project expenditures for ongoing and/or, to be launched new acquisitions
26%
of what was set aside
General Corporate Purposes
0%
of what was set aside
Spent by quarter: 87% → 13% (to Jun 2025)

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.