Ajmera Realty Reports Financial Results for Q2FY26 and Proposes 5:1 Stock Split to Boost Investor Liquidity

Ajmera Realty & Infra India Ltd., a prominent Indian real estate developer with over 55 years of experience, has announced its financial results for the quarter and half-year ending on September 30, 2025. The company has also proposed a stock split in a 5:1 ratio. This move aims to enhance the liquidity of its equity shares and make them more affordable for small retail investors.

The Board of Directors has approved the subdivision of each existing equity share with a face value of Rs. 10 into five shares with a face value of Rs. 2 each. This decision is subject to shareholder approval and necessary regulatory permissions. Ajmera Realty stated in a stock exchange filing that the record date for this share split will be announced later.

In Q2FY26, Ajmera Realty reported total revenue of Rs 221 crore, marking an 8% increase year-on-year (YoY) but a 15% decrease quarter-on-quarter (QoQ) from Rs 259.6 crore in Q1FY26. The EBITDA margin decreased by 450 basis points YoY and 344 basis points QoQ to 27%, with EBITDA itself declining by 7% YoY and 24% QoQ to Rs 59.9 crore.

The profit before tax (PBT) margin fell to 19%, with PBT at Rs 42.8 crore, reflecting an 8% YoY and 25% QoQ drop. Profit after tax (PAT) was Rs 31.2 crore, down by 14% YoY and 21% QoQ, resulting in a PAT margin of 14%, compared to 18% in Q2FY25. Earnings per share (EPS) decreased by 21% YoY to Rs 7.72.

Post-split, the subscribed, issued, and paid-up share capital will increase from 3,93,59,130 shares of Rs 10 each to 19,67,95,650 shares of Rs 2 each. The authorised share capital will rise from 15 crore shares of Rs 10 each to 75 crore shares of Rs 2 each. The stock split is expected to be completed within two months following shareholder approval.

For example, if an investor currently holds 100 shares priced at Rs 1,022 each, their total investment is valued at Rs 1,02,200. After the split, they will own 500 shares priced at approximately Rs 204.40 each. The overall investment value remains unchanged at Rs 1,02,200 despite the increase in share count and decrease in individual share price.

Future Plans and Market Outlook

Mr. Dhaval Ajmera, Director - Corporate Affairs, commented on the company's performance: "The Q2 and H1FY26 performance further reinforces our focus on disciplined growth, timely execution, and prudent financial management. During the quarter, we launched two marquee projects - Ajmera Manhattan 2 and Thirty3.15 - with a combined GDV of ₹2,100 crore, both receiving an encouraging market response."

The company plans to launch a boutique office space during H2FY26 with an estimated carpet area exceeding six lakh square feet and a GDV of INR 1800 crore. From FY27 onwards, Ajmera Realty aims to enter the uber-luxury residential market with a project spanning approximately thirteen lakh square feet and generating an estimated GDV of INR ~5700 crore.

Ajmera Realty Stock Analysis

A R Ramachandran, an independent SEBI-registered analyst, noted that "Ajmera Realty stock price is bearish on the Daily charts with strong resistance at 1079. A Daily close below support of 986 could lead to a target of 898 in the near term." Investors are advised to consider these insights carefully when making decisions.

The outlook for Wadala's development potential remains strong with projected topline sales exceeding INR ~12,000 crore. The next phases of Ajmera Manhattan are planned across nine lakh square feet with an estimated GDV of INR ~3200 crore.

Ajmera Realty's strategic initiatives aim to maintain growth through new launches and operational excellence while ensuring financial prudence. The company's robust project pipeline and strong demand visibility support this trajectory.