Mumbai, July 12
Ajmera Realty has reported a sharp decline in its sales performance for the first quarter of the current financial year (Q1 FY26) -- both on a year-on-year (YoY) and quarter-on-quarter (QoQ) basis.
The real estate company recorded a sales value of Rs 108 crore in Q1, marking a 65 per cent drop compared to Rs 306 crore in the same quarter last year, it said in a stock exchange filing.
In terms of carpet area sold, Ajmera Realty reported 63,244 square feet during the April-June period, down 52 per cent from 1,30,801 sq ft in the same quarter last fiscal.
Sequentially, the sales value also fell 57 per cent from Rs 250 crore reported in Q4 FY25. The carpet area sold declined even more sharply — by 66 per cent — compared to 1,85,939 sq. ft. sold in the previous quarter.
However, amid the subdued sales performance in the last quarter, the company reported some positives in its cash inflows. The real-estate firm's collections for the quarter stood at Rs 234 crore, up 42 per cent YoY from Rs 165 crore in Q1 FY25.
Sales performance during the quarter was affected by sector-wide regulatory challenges, leading to delays in project launches, including certain key projects of Ajmera Realty, the company said in its filing.
“The lack of necessary approvals led to delays in new launches, while lower available inventory in existing projects contributed to sales during the quarter,†said Dhaval Ajmera, Director-Corporate Affairs.
With fast-tracked execution underway across six residential projects in Bengaluru and Mumbai, supported by consistent construction progress and inventory absorption, we are prepared to deliver approximately 1,000 homes by the second half of FY26, Ajmera added.
Ajmera Realty shares fell 2.43 per cent to close at Rs 897.90 on Friday on the NSE. Meanwhile, its 52-week high and low values stood at Rs 1,224.90 and Rs 609.55, respectively.
— IANS
Reader Comments
As someone who invested in Ajmera's Bangalore project last year, this news is concerning. But good to see they're promising delivery of 1000 homes soon. Hope they keep their word!
Regulatory hurdles are killing the real estate sector. Government should simplify approval processes if they want affordable housing for all. This affects employment too!
The 42% increase in collections is the silver lining here. Shows that existing customers still have faith in the company despite the sales slowdown.
Builder should focus on completing existing projects rather than launching new ones. Too many half-finished buildings across Mumbai already. Quality over quantity!
Maybe time to rethink real estate investments? Stock market giving better returns with less headache. Unless you really need the property, not worth the stress these days 😅
While the numbers look bad, we must remember this is an industry-wide issue. The collections growth shows underlying strength. Real estate is cyclical - this too shall pass.
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