Ajmera Realty Q2 FY27 pre-sales fall 69% year on year but rise 54% from Q1

What the company reported

On 9 October 2026, Ajmera Realty & Infra India Ltd (NSE: AJMERA, BSE: 513349) released its operational figures for the second quarter of FY27 (July to September 2026) and the first half of the financial year. The company reported pre-sales value of Rs 224 crore and collections of Rs 190 crore for the quarter.

Dhaval Ajmera, Director - Corporate Affairs, said the quarter 'delivered sustained sales momentum across our ongoing projects, supported by continued customer demand and disciplined execution.' The release also said improved average price realisations reflected the company's emphasis on high-value development and portfolio premiumisation.

Year-on-year decline, sequential recovery

Against Q2 FY26, pre-sales fell 69%, from Rs 720 crore to Rs 224 crore. That base was unusually high. Business Standard reported in October 2025 that Q2 FY26 was the company's highest-ever quarterly sales, at Rs 720 crore, with 2,29,772 sq ft sold.

Against Q1 FY27, pre-sales rose about 54%, from Rs 146 crore. Q1 FY27 had itself been 35% higher than the Rs 108 crore recorded a year earlier, according to the company's July 2026 update.

Carpet area sold in Q2 rose 67% from 43,737 sq ft in Q1 FY27, to 72,883 sq ft. It remained well below the Q2 FY26 level.

Collections and first-half totals

Q2 collections were Rs 190 crore. That is 14% below the Rs 220 crore collected in Q2 FY26 but 10% above the Rs 173 crore collected in Q1 FY27.

For H1 FY27, total pre-sales were Rs 370 crore across 1,16,620 sq ft of carpet area. H1 collections were Rs 363 crore. Both figures are lower than the same period a year earlier, when H1 pre-sales were Rs 828 crore and H1 collections were Rs 454 crore. Year-on-year H1 carpet area sold fell 60%, from 2,93,016 sq ft.

Pricing and the completed project

The company said average price realisation improved during the first half of FY27. The release did not give average price per sq ft figures, so the size of the increase cannot be measured from the release alone.

The release also said the full sell-out of Ajmera Prive, a completed residential project in Juhu, Mumbai, was included in the period. Listing sites describe Ajmera Prive as a 12-storey tower with units of 1,111 to 2,089 sq ft. These are listing-site figures and are not official project records.

Upcoming projects and approvals

Dhaval Ajmera said the company 'is actively progressing with the requisite approval processes for our upcoming projects and remain[s] confident about bringing these projects to market.' The release did not name these projects, give launch dates or state expected unit numbers.

An earlier Q3 FY26 earnings call summary, published by Alpha Spread, said some launches in Kanjurmarg, Andheri and Ghatkopar had been rescheduled because of approval and legal issues. That summary is dated to the quarter ended 31 December 2025.

The company's FY27 target of Rs 2,200 crore was described in the Q1 FY27 update as backed by its Wadala land bank and upcoming launches. This release did not revise that target.

Reading for buyers and investors

For buyers, the release contains no official statement on pricing, inventory or launch timing for new homes. The completed Ajmera Prive project is sold out, so it offers no open inventory.

Whalesbook, a corporate-news site, said investors were weighing the sequential rebound against the weaker year-on-year volumes. It also noted that H2 FY27 growth depends on a strong launch pipeline, and that delays in regulatory approvals or execution could affect the expected recovery.

Q2 pre-sales and collections are company-level figures. They do not show how sales split between projects, or whether the sequential gain is sustained.

What comes next

The company has not given dates for its next launches or for its next results disclosure. The release said only that approvals for upcoming projects are in progress. Reaching the Rs 2,200 crore FY27 target would require sales in the second half of the year well above the Rs 370 crore recorded in H1.