Transcript for Earnings Call held on August 4, 2026 for the quarter ended June 30, 2026

Ref: SEC/ARIIL/BSE-NSE/2026-27 Date: August 07, 2026 To, To, The Manager, The Manager – Listing, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, 5th Floor, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400051 Script Code: 513349 Script Code: AJMERA Sub: Transcript of the Earnings Call. Dear Sir/Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith a copy of the Transcript of Earnings Call held on August 04, 2026 on the Un-audited Standalone & Consolidated Financial Results of the Company for the Quarter ended June 30, 2026. The audio recording and transcript of the presentation are available on the website of the Company viz. https://ajmera.com/financials/. Kindly take the above on your record. Thanking You, Yours faithfully, For AJMERA REALTY & INFRA INDIA LIMITED Reema Solanki Company Secretary & Compliance Officer Encl: As above “Ajmera Realty & Infra India Limited Q1 FY27 Earnings Conference Call” August 04, 2026 MANAGEMENT: MR. DHAVAL AJMERA - DIRECTOR OF CORPORATE AFFAIRS MR. NITIN BAVISI - CHIEF FINANCIAL OFFICER MR. GAURANG CHOTALIA - LEAD INVESTOR RELATIONS Page 1 of 10 Ajmera Realty & Infra India Limited August 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Ajmera Realty & Infra India Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions at the end of today's presentation. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I would now like to hand the conference over to Mr. Gaurang Chotalia, Lead Investor Relations. Thank you, and over to you, sir. Gaurang Chotalia: Good evening, everyone, and a warm welcome to you all. On behalf of the company, I would like to thank you all for participating in Ajmera Realty & Infra India Limited Earnings Call for the quarter ended 30th June 2026. The call will commence with opening remarks by our Director of Corporate Affairs, Mr. Dhaval Ajmera and will be followed by the business performance discussion by our CFO, Mr. Nitin Bavisi. We have already shared the operational updates of the quarter in the second week of July 2026. The investor presentation and the press release based on the financial adopted by the Board have been uploaded on the stock exchange website and can be downloaded from our company website as well. Please do note that some of the statements in today's discussion may be forward-looking in nature, reflecting the company's outlook and may involve certain risks and uncertainties that the company may face. I would now like to hand over the call to our Director of Corporate Affairs, Mr. Dhaval Ajmera. Thank you, and over to you, sir. Dhaval Ajmera: Good evening, everyone. Thank you very much. I hope everyone is doing fine. And I just want to begin the entire conference with giving you a sector update and thereby the company update and the numbers will be then run through by our CFO. The Q1FY27, we all know that the global economic environment continued to shape by the geopolitical tensions, new trade policies and persistent macroeconomic uncertainty. Despite these external challenges, India remained relatively resilient, supported by strong domestic demand, stable macroeconomic fundamentals and stable inflation and supportive policy environment. Against this backdrop, Indian real estate continued to exhibit strong structural fundamentals, while the industry witnessed a seasonally softer quarter, which I would say, which was more cautious with sequential moderation in presales and collections following a robust Q4 FY26. The underlying demand environmental health remains healthy. infrastructure-led development, improving connectivity, rapid urbanization and a sustained preference for homeownership continued to support the momentum. At the same time, the sector is evolving to be more mature and organized with homebuyers increasingly prioritizing quality, transparency, timely delivery and credibility of the developer. Page 2 of 10 Ajmera Realty & Infra India Limited August 04, 2026 Speaking about the residential market, we've witnessed to see a structural shift, although over this entire quarter, we've seen lifestyle and premium development seeing good demand coming across all sectors. Customers are increasingly seeking projects to offer superior amenities, stronger connectivity and long-term value creation with competitive advantage of established developers with proven capabilities. On the commercial front, healthy office leasing activity also is being driven by the GCCs, the flexible workspace operators and expanding enterprise continues to strengthen Indian real estate ecosystem, while supporting residential demand across key employment corridors. We are pleased to announce that in this quarter, we have received an INR89 crores towards our share of investment and profit from a property sale out of the INR330 crores, which we had mentioned in our potential cash flows, which are coming. Looking ahead, we remain optimistic about sector's long-term perspective, continued policy support and infrastructure investment and a stable interest rate environment continues with the ongoing consolidation in the industry are expected to strengthen the position of the organized developers. We believe that a moderation witnessed across the quarter reflects normal industry seasonality rather than structural slowdown. As India continues its journey towards becoming a developed economy, we remain confident that disciplined execution, prudent capital allocation and customer trust will remain the key driver of the sustainable growth and long-term value creation. Speaking about our company and the projects of our ongoing projects, our flagship luxury development, Ajmera Manhattan 1 has achieved around 93% sales with progress in finishing and MEP work. Ajmera Manhattan 2, other projects in Wadala has also witnessed an encouraging customer response with more than about 50% of its inventory sold while the excavation work is in progress. The next phase of Ajmera Greenfinity A and B has recorded 94% sales and is also steadily moving towards completion and getting occupation certificate soon. Ajmera Vihara and Bhandup has received 81% sales with RCC work in progress. Rehab wings have already been almost completed and the sales wing has also seen good amount of progress in Wing D and Wing E, the fourth floor and first floor, respectively. Ajmera Solis, our hero for the last quarter has seen good demand, enabling us to achieve 86% of its inventory being absorbed, while the excavation work has just commenced and it is progressing steadily. Our commercial project at Bandra 33Fifteen has also seen a steady transition in terms of its inventory where 19% of its inventory has been sold, while the piling and the shoring progress is going on, and we are looking at faster execution at these projects. And our luxury collective item, which we launched last quarter, Ajmera One by Ajmera in Versova, we are seeing good progress in terms of its work and also inventory has been slowly and steadily moving by 3% of its inventory being sold as of today. In Bangalore, our mid micro market housing portfolio is also continues to perform strongly, whereas Ajmera Iris has seen 90% of its sales happening and also that is steadily progressing towards occupation certificate where finishing work is in progress, while Ajmera Marina has Page 3 of 10 Ajmera Realty & Infra India Limited August 04, 2026 also seen a 69% sales in its entire portfolio, whereas the work has commenced up to second slab where the basements are done and the second floor slab work is in progress. Looking ahead at our n [Showing first 8,000 characters — download PDF for full document]