Ajmera Realty Pre-Sales Fall 69 as Launches Await Approval

Ajmera Realty & Infra India reported ₹224 crore of pre-sales in Q2 FY27, down approximately 69% from ₹720 crore a year earlier. The September-quarter update puts current performance alongside management’s expansion ambitions, making forthcoming launches an important test.

Customer collections fell more moderately, to ₹190 crore from ₹220 crore. Pre-sales represent bookings; collections measure money received from customers. Neither should be confused with recognised accounting revenue.

The latest operational figures were reported here -> Ajmera Realty Q2 Sales Fall 69% YoY To Rs 224 Crore; Collections Decline 14%.

A recovery from June, a decline from last year

The quarter improved on Q1 FY27’s ₹146 crore of pre-sales. Using the published rounded amounts, that represents approximately 53.4% sequential growth, although news reports state 54%.

Both comparisons matter. The sequential improvement indicates a recovery from the June quarter, while the annual decline shows that bookings remain substantially below the year-earlier level.

For H1 FY27, pre-sales totalled ₹370 crore, against ₹828 crore a year earlier. Collections were ₹363 crore, compared with ₹454 crore.

Expansion now needs operating evidence

Management says approval processes for upcoming projects are progressing and expects launches to support stronger second-half performance. That is an outlook, rather than an achieved result.

Vantage previously examined the company’s longer-term diversification plans -> Ajmera Realty Plans 2 Million Sq Ft Mumbai Rental Portfolio With Longer-Term REIT Ambition.

This update adds a nearer-term question: can approvals and launches translate into bookings and collections while the wider strategy develops?

What buyers and investors should watch

For shareholders, launch dates, initial booking uptake and subsequent collections will offer stronger evidence than pipeline size alone.

For homebuyers, the company-wide decline is a reason to investigate the specific project. It does not establish that an individual development is delayed, financially distressed or available at a discount.

The next updates should be assessed alongside construction progress, financing and any changes to management’s guidance.

Sources

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• Ajmera Realty Q2 Sales Fall 69% YoY To Rs 224 Crore; Collections Decline 14% published on 9 October 2026 in NDTV Profit.
• Ajmera Realty Plans 2 Million Sq Ft Mumbai Rental Portfolio With Longer-Term REIT Ambition published on 4 October 2026 in Vantage Radar.

Which next disclosure would most help you assess Ajmera’s recovery: completed approvals, launch bookings or customer collections? Explain your choice in the attached forum discussion.