Ajmera Realty Q3 Sales Soar 123% to ₹630 Crore, Stock Jumps 9%

Introduction

Ajmera Realty & Infra India's stock surged over 9% on Wednesday after the company announced a stellar operational update for the third quarter of the financial year 2026. The real estate developer reported a 123% year-on-year increase in sales value, reaching ₹630 crore for the quarter ending December 2025. This performance has significantly boosted investor confidence and positions the company to outperform its annual sales guidance.

Stellar Quarterly Performance in Detail

The company's Q3 FY26 performance highlights robust growth across all key operational metrics. The sales value of ₹630 crore is a sharp rise from the ₹270 crore recorded in the same quarter of the previous fiscal year. This growth was supported by a significant increase in sales volume, which grew by 59% to 2,62,975 square feet compared to 1,65,116 square feet in Q3 FY25. Furthermore, collections from customers saw a substantial 99% year-on-year jump, aggregating to ₹333 crore during the quarter, indicating healthy cash flow generation.

The Vikhroli Project: A Key Growth Driver

A major contributor to this quarter's success was the launch of the 'Ajmera Solis' project in Vikhroli, Mumbai. The project, featuring well-designed 1, 2, and 3 BHK homes in a prime location, received an overwhelmingly positive response from homebuyers. Phase 1 of the project witnessed an 84% absorption of its inventory shortly after its launch. According to the management, this success validates the company's asset-light strategy and its ability to effectively penetrate new micro-markets with offerings that resonate with buyer demand for value and brand reliability.

Nine-Month Performance Overview

The strong Q3 performance builds on a solid foundation laid in the first half of the year. For the nine-month period of FY26 (9M FY26), Ajmera Realty achieved a sales value of ₹1,431 crore, marking a 72% increase year-on-year. The total sales volume for this period stood at 5,55,991 square feet, up 36% from the previous year. Collections for the nine months also reflected strong growth, rising by 70% to ₹787 crore. These figures demonstrate sustained momentum and operational efficiency throughout the fiscal year.

Financial Performance Summary

Management Commentary and Outlook

Dhaval Ajmera, Director of Corporate Affairs, commented on the results, stating, "We have achieved strong performance in this quarter, achieving 2x growth in both sales and collections for Q3. This performance has strengthened our overall trajectory." He emphasized that with ₹1,431 crore in sales already secured, the company has surpassed its required run-rate and is confident of outperforming its annual guidance of ₹1,600 crore. Looking ahead, the company plans to leverage its robust sales velocity and high cash flow visibility to fast-track upcoming launches, pursue strategic business development, and continue deleveraging its balance sheet.

Market Reaction and Analyst View

The market responded positively to the operational update, with Ajmera Realty's shares surging 9.13% to close at ₹198.95. Market analysts have noted the stock's technical pattern, with Anshul Jain of Lakshmishree observing that it is trading within a triangle pattern. He identified a key resistance level near ₹220. A decisive breakout above this level, supported by strong trading volumes, could potentially push the stock towards the ₹255-₹260 range. Until such a breakout, the stock is expected to remain range-bound.

Broader Financial Context

While the operational performance has been strong, the company's recent financial results present a mixed picture. For Q2 FY26, the company's consolidated net profit declined by 14.1% to ₹30.37 crore, even as revenue from operations increased by 9.6% to ₹219.04 crore compared to Q2 FY25. This suggests that while sales are growing, the company may be facing some pressure on its profit margins. However, the strong collections and sales momentum in Q3 are positive indicators for future profitability.

Conclusion

Ajmera Realty's Q3 FY26 operational results underscore a period of significant growth, driven by successful project launches and strong market demand. The impressive 123% surge in sales value has propelled its stock and reinforced its path to exceeding its annual targets. With a strong project pipeline and a clear strategy for expansion, the company is well-positioned to capitalize on the current momentum in the Indian real estate sector.