AJMERAConsumer Discretionary

Ajmera Realty & Infra India Limited

Residential, Commercial Projects · ISIN INE298G01035 · BSE 513349 · NSE EQ · FV ₹2
Last price
₹114
+0.26%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 (Q1 FY27) and kept 13.6% of sales as profit.

In the report:
65out of 100
Equitytale Health Score
Solid

Healthier than 65% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 63–421 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)
37

At close. Not part of the score.

Profitability & returns72

How much profit it earns on the money it employs

Balance sheet49

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

Valuation50

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
Sales up 23% vs last year
Profit up 12% 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 We do not publish price targets or predict returns.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
₹114 +0.26%
latest close · 2026-09-17
52-wk low ₹10942 sessions so far52-wk high ₹132
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 ratio13.0Low
LowAverageHigh
P/B ratio1.60Moderate
Below bookModerateHigh
EV / EBITDA7.8Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.3%Fair
WeakFairStrong ▸15%
Return on capital16.5%Strong
WeakFairStrong
Net margin13.6%Decent
ThinDecentStrong
EBITDA margin29.6%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.47Comfortable
LowModerateHigh ▸1
Interest cover3.0×Okay
RiskyOkayStrong ▸5×
Current ratio6.28Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹2,240 cr
Book value
₹71
EPS
₹2.19
latest quarter
Net debt
₹678 cr
owes more than its cash
Enterprise value
₹2,918 cr
EBITDA
₹375 cr
annualised
EBIT
₹369 cr
annualised
Operating margin
29.1%
Return on assets
6.6%
Earnings yield
7.70%
P/S
1.77
Sales / share
₹64.4
Tax rate
27.7%
Face value
₹2
Shares
19.7 cr
Working capital
₹1,881 cr
Current assets
₹2,237 cr
Current liabilities
₹356 cr
Delivery %
47.6%
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 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹77 vs market price ₹114 — price is 49% above it
Safety cushion-48.6%(target ≥ +20%)
Models span ₹50₹103, midpoint ₹77
Model ₹77
Price ₹114
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 · Q1 FY27 (consolidated)
Revenue from Operations₹317 cr
Other Income₹3 cr
Total Income₹320 cr
Cost of Materials₹202 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹8 cr
Employee Benefit Expense₹16 cr
Finance Costs₹30 cr
Depreciation & Amortisation₹2 cr
Total Expenses₹258 cr
Profit before Tax₹62 cr
Tax Expense₹17 cr
Share of JV / Associates₹31 L
Net Profit₹45 cr
Net margin on total income14.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹210 cr65.6%
Employee benefit expense₹16 cr5.0%
Finance costs₹30 cr9.5%
Depreciation & amortisation₹2 cr0.5%
Tax expense₹17 cr5.3%
Profit for the period₹45 cr14.1%
Total income ₹320 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue182 cr431 cr317 cr
Total income184 cr434 cr320 cr
Expenses141 cr347 cr258 cr
Profit before tax42 cr87 cr62 cr
Tax14 cr28 cr17 cr
Net profit (owners' share)28 cr56 cr43 cr
Net margin (owners' share, on revenue)15.3%12.9%13.6%
EPS (₹)1.302.832.19
YoY (latest quarter): total income +23.1% · net profit +12.5%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹2,594 cr
Shareholder equity
₹1,398 cr
parent shareholders
Total debt
₹711 cr
Cash
₹33 cr
Cash flow · H1 FY26
Operating
₹43 cr
Investing
₹7 cr
Financing
₹-79 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limited₹640₹1.58 L cr49.8
Lodha Developers Limited₹1,103₹1.10 L cr20.1
The Phoenix Mills Limited₹1,872₹66,957 cr56.4
Oberoi Realty Limited₹1,741₹63,292 cr29.1
Prestige Estates Projects Limited₹1,440₹62,025 cr65.7
Godrej Properties Limited₹1,678₹50,551 cr36.1
Anant Raj Limited₹597₹21,482 cr35.9
Brigade Enterprises Limited₹621₹20,251 cr25.3
Horizon Industrial Parks Limited₹52₹12,779 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.88%
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 · 2026-06-30
0.0% pledged
Promoter
68.6%
FII / Foreign
0.9%
DII / Domestic
0.8%
Retail / others
29.7%
Promoter stake down 1.2% 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.

Postal ballot · 11 Dec 2025
See the official result
1
CONSIDER AND APPROVE SUB-DIVISION / SPLIT OF NOMINAL VALUE OF EQUITY SHARES OF THE COMPANY AND CONSEQUENT ALTERATION OF CAPITAL CLAUSE OF MEMORANDUM OF ASSOCIATION OF THE COMPANY
Backed by 100% of shareholders other than promotersneeded 50%
36.59 L votes for, 870 against · 0% 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 2026-06-30
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 HUF1.15%
RUSHABH INVESTMENT PRIVATE LIMITED0.78%
CHARMI PARAS PAREKH0.64%
HENALI 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
also owns 0.05% of the company
₹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.