Ajmera Realty Unveils ₹7,000 Crore Wadala Development Plan with 2.3 Million Sq Ft Mixed-Use Portfolio

Ajmera Realty & Infra India Ltd has announced plans to invest ₹7,000 crore in developing approximately 2.3 million square feet of real estate across Wadala, Mumbai's emerging smart property investment hub, over the next four to five years. The company expects to generate over ₹12,000 crore in gross development value from its strategic land holdings in this central Mumbai corridor.

Multi-Format Development Portfolio Targeting Diverse Segments

The Mumbai-based real estate developer has outlined an ambitious development blueprint encompassing residential towers, boutique office spaces, and ultra-luxury apartments. This diversified approach positions the company to capitalize on growing demand for ultra-luxury real estate while also serving the commercial office market.

The development pipeline includes the second phase of Ajmera Manhattan spanning 5.4 lakh square feet with an estimated gross development value of ₹1,750 crore. Additionally, a boutique office development covering 6 lakh square feet is projected to generate ₹1,800 crore, while an uber-luxury residential project spread across 1.4 million square feet is expected to command a substantial ₹5,700 crore in development value.

Strong Financial Performance Supports Expansion Plans

The company's expansion strategy is backed by robust financial metrics for the first half of FY26. Ajmera Realty reported net profit of ₹71 crore, representing a 2% year-on-year increase, while revenue surged 20% to ₹481 crore. Operating profit reached ₹139 crore, marking a 6% growth compared to the same period last year.

More significantly, collections demonstrated exceptional strength with a 52% year-on-year jump to ₹454 crore, reflecting improved cash flow management and customer confidence. Sales volumes increased 20% to 2.93 lakh square feet, while sales value witnessed a substantial 48% growth to ₹828 crore, indicating strong pricing power in the Mumbai real estate market.

Phased Development Strategy Emphasizes Market Diversification

According to company officials, the second phase of Ajmera Manhattan is already under development, demonstrating the firm's commitment to executing its Wadala master plan. The uber-luxury residential component is scheduled for launch in the upcoming financial year, targeting affluent buyers seeking premium properties in central Mumbai locations.

The boutique office development, planned for the current fiscal year, aims to address growing demand from corporations seeking premium commercial real estate in Mumbai. This mixed-use approach allows the developer to hedge market risks while maximizing returns from its valuable Wadala land bank.

Strategic Location Enhances Investment Appeal

Wadala's positioning as a well-connected micro-market with improving infrastructure makes it an attractive destination for both residential and commercial developments. The area benefits from proximity to Bandra Kurla Complex and excellent connectivity through suburban rail networks and upcoming metro corridors.

The developer's strategy to offer multiple product formats—from premium residential to ultra-luxury apartments and boutique offices—reflects an understanding of diverse buyer preferences in Mumbai's evolving real estate landscape. This approach aligns with broader trends where developers are increasingly focusing on maximizing real estate investment returns through mixed-use developments.

Market Positioning and Growth Outlook

Ajmera Realty's ₹7,000 crore investment commitment positions the company among major developers capitalizing on Mumbai's sustained real estate momentum. The developer's strong sales performance and healthy cash collections provide the financial foundation necessary to execute this multi-year development program.

With planned developments targeting both lifestyle-driven homebuyers and corporate occupiers seeking quality office spaces, the company appears strategically positioned to benefit from Mumbai's continued evolution as a premier business and residential destination. The phased launch approach also allows for market-responsive adjustments while maintaining development momentum across the portfolio.

Disclaimer: This article is based on information available as of November 2025. Real estate investments involve market risks, and readers are advised to conduct thorough due diligence and consult with financial advisors before making investment decisions. Project timelines, pricing, and specifications are subject to change at the developer's discretion. This content is for informational purposes only and should not be construed as investment advice.