1. Wadala land bank monetisation - The Wadala land bank holds an estimated GDV of \~₹18,000 crore, with the boutique office Phase 1 (9.8 lakh sq.ft., GDV ₹3,650 crore) guided for launch in Q3 FY27. This single micro-market is roughly 7x current annual revenue, and the office component is planned as an income-generating asset, adding a recurring earnings stream to the build-sell model.
2. Kanjurmarg 55-acre township - Master planning is complete, infrastructure work is expected to start soon, and launch is planned for FY28; the landbank has total potential development of 71.7 lakh sq.ft. with estimated GDV of ₹22,618 crore. This is the largest single development in the portfolio, roughly 10x FY25 revenue, and management is in talks with funds for an SPV-level tie-up to fund conversion.
3. FY27 launch pipeline - Eight projects with total estimated GDV of ₹6,508 crore are scheduled for FY27 launches, including the boutique office (Q3), Borivali (Q4), and Whitefield (Q4). This pipeline is more than 2.5x FY25 revenue of ₹1,149 crore, and most projects are structured through capital-light models (JV, JDA, redevelopment), limiting equity needed to execute.
4. Ajmera Manhattan 2 - Launched in late September 2025, the project sold more than 50% of inventory as of Q1 FY27, with excavation in progress; at launch it sold \~₹700 crore in 15-20 days. With a RERA timeline of July 2030, the remaining inventory provides multi-year sales visibility at ₹35,000+ per sq ft realisations.
5. Ajmera Solis revenue recognition - The Vikhroli Phase 1 project qualified for revenue recognition for the first time in Q1 FY27, with 86% inventory absorbed; it recorded \~₹427 crore of sales within 24 hours of launch. This converts a large pre-sold book into recognised revenue and collections, and the project is financially closed out on current sales velocity.
6. Asset monetisation - ₹330 crore programme - Received ₹89 crore towards share of investment and profit from a property sale, and a stake sale in a JV was sealed in July 2026, accelerating cash flow realisation out of the ₹330 crore guidance. This cash flow, at roughly 45% of current debt of ₹711 crore, directly strengthens the balance sheet and funds the launch pipeline without additional borrowing.
7. Business development - asset-light additions - FY26 business development was ₹2,433 crore across 5 projects, all asset-light; FY27 target is ₹1,800 crore with Q1 FY27 additions of ₹389 crore. These additions replenish the launch pipeline beyond FY27, and the asset-light structure keeps capital employed low while expanding GDV.
8. Ajmera Greenfinity OC - The Ghatkopar next phase recorded 94% sales as of Q1 FY27 and is expected to get its occupation certificate soon. OC triggers possession and final revenue recognition on the remaining inventory, converting a near-sold project into cash collections.