Ajmera Realty to Invest Rs 7,000 Crore in Wadala, Unlocking Rs 12,000 Crore Value from Prime Mumbai Land

Ajmera Realty & Infra India Ltd, one of Mumbai’s leading real estate developers, has announced a major investment of Rs 7,000 crore to transform the city’s central suburb of Wadala into a premium residential and commercial hub. The ambitious development plan covers over 2.3 million square feet, marking one of the largest single-location real estate expansions in Mumbai in recent years.

This strategic move aligns with the company’s broader objective of unlocking over Rs 12,000 crore in value from its land holdings in Wadala over the next four to five years. With a strong mix of luxury residences, boutique offices, and high-end mixed-use projects, Ajmera Realty is positioning itself as a key driver of Mumbai’s next phase of urban growth.

A Multi-Phase Development Vision

According to Dhaval Ajmera, Director-Corporate Affairs, Ajmera Realty & Infra India, the upcoming projects will be developed in multiple phases. The company’s flagship initiative, Ajmera Manhattan, is already in its second phase with a Gross Development Value (GDV) of Rs 1,750 crore and a carpet area of 5.4 lakh square feet.

In addition, the company plans to launch a boutique office project in the second half of the current financial year. Spanning 6 lakh square feet, this commercial development is expected to have an estimated GDV of Rs 1,800 crore. By blending high-end residences with Grade-A workspaces, Ajmera aims to build an integrated micro-market that caters to both investors and end users seeking proximity to Mumbai’s business districts.
 

Entering the Uber-Luxury Segment

Ajmera Realty is preparing to take a significant leap into the ultra-premium housing category starting next financial year. The company is planning a 1.4 million square foot project with a projected GDV of Rs 5,700 crore, signaling its entry into the uber-luxury residential segment.

The upcoming development will focus on exclusive, high-rise living in one of Mumbai’s most promising localities. Wadala’s location between South Mumbai and the Eastern Suburbs gives it a unique advantage, excellent connectivity through the Eastern Freeway, the Monorail, and the upcoming Metro lines, making it an emerging hotspot for luxury real estate.

Subsequent phases of Ajmera Manhattan, covering 9 lakh square feet, are also projected to add a GDV of Rs 3,200 crore, strengthening the developer’s long-term revenue pipeline.
 

Strong Financial Performance and Growing Demand

Ajmera Realty’s financial performance underlines the strength of its execution strategy and market positioning. For the first half of the current fiscal year, the company reported a 2% year-on-year rise in net profit, reaching Rs 71 crore. Revenue during the same period surged 20% to Rs 481 crore, reflecting robust demand across ongoing and new projects.

Operating profit rose 6% to Rs 139 crore, while total collections increased 52% to Rs 454 crore. The company’s sales value grew 48% to Rs 828 crore, supported by a 20% rise in sales volume to 293,016 square feet. This indicates strong buyer confidence and sustained momentum in Mumbai’s mid to high-end residential segment.

Dhaval Ajmera noted that the consistent rise in sales and collections demonstrates a healthy demand cycle across Mumbai’s residential micro-markets. “Wadala is poised to become one of the city’s most attractive destinations for both homebuyers and investors due to its connectivity and urban infrastructure. Our developments aim to redefine this locality’s skyline,” he said.

Wadala: Mumbai’s Next Growth Corridor

Once an industrial suburb, Wadala has rapidly evolved into a vibrant residential and commercial hub. Its strategic location, nestled between key business zones such as Lower Parel, BKC, and Fort, has positioned it as a preferred destination for professionals and families seeking central accessibility without the congestion of South Mumbai.

Infrastructure development has been a major growth catalyst. The Eastern Freeway now links Wadala directly to Colaba and Chembur, cutting travel time drastically. Additionally, the Monorail and ongoing Metro projects are transforming public mobility in the area. These infrastructure upgrades have led to a steady rise in property values, with premium projects now commanding upwards of Rs 40,000 per sq. ft in select pockets.

Ajmera Realty’s new investment is expected to further accelerate this transformation, introducing a blend of luxury residences, boutique offices, and lifestyle amenities that cater to the evolving aspirations of Mumbai’s urban elite.

Strategic Outlook and Market Impact
 

The Rs 7,000 crore investment underscores Ajmera Realty’s confidence in Mumbai’s long-term real estate fundamentals. The company’s balanced mix of residential and commercial projects reflects a strategic shift toward creating self-sustained ecosystems rather than standalone developments.

Analysts believe that Ajmera’s multi-phase plan could significantly boost property demand in central Mumbai, especially in Wadala’s high-growth corridor. The expected GDV across all planned projects, Ajmera Manhattan Phase II, the boutique office tower, and the upcoming luxury residential project, adds up to over Rs 12,000 crore, reinforcing the company’s strong capital efficiency and project pipeline.

From a market perspective, the developer’s entry into the uber-luxury segment mirrors a broader trend in Mumbai real estate. With rising disposable incomes, favourable interest rates, and increasing investment inflows, the premium housing market is projected to grow by over 12% annually through 2026, according to Knight Frank data. Ajmera’s positioning aligns perfectly with this upward trajectory.
 

Final Thoughts

Ajmera Realty’s Rs 7,000 crore commitment to Wadala is more than an expansion, it’s a statement of intent. By leveraging its strategic land bank and focusing on design-led urban experiences, the company aims to create a new benchmark in mixed-use luxury development.

The project’s scale, financial backing, and location advantage are expected to not only reshape Wadala’s skyline but also reinforce Mumbai’s position as India’s most dynamic real estate market. As the city continues to expand vertically, developers like Ajmera are redefining what urban living can mean in India’s commercial capital, a blend of aspiration, accessibility, and architectural excellence.