{"id":301910,"date":"2026-10-12T12:25:42","date_gmt":"2026-10-12T06:55:42","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=301910"},"modified":"2026-10-12T12:25:42","modified_gmt":"2026-10-12T06:55:42","slug":"bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/","title":{"rendered":"3 Bengaluru and Mumbai Housing Developer Stocks With a Strong Future Roadmap: Ajmera Realty &#038; Infra India, Man Infraconstruction and Shriram Properties"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Ajmera Realty Rs 116.92, P\/E 14.02. Man Infra Rs 117.16, P\/E 22.02. Shriram Properties Rs 66.83, P\/E 12.28. Closing prices of 9 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Bengaluru and Mumbai housing developer stocks with the clearest long-term roadmaps today include Ajmera Realty in residential projects and redevelopment in Mumbai, Man Infra in construction and real estate in Mumbai and Shriram Properties in housing projects in Bengaluru and Chennai. P\/E stands at 14.02 for Ajmera Realty (industry 32.08), 22.02 for Man Infra (industry 23.44) and 12.28 for Shriram Properties (industry 32.08). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Bengaluru and mumbai housing developer stocks give investors exposure to homes built for buyers in large Indian cities. Sales bookings, project delivery and costs decide how much of that housing demand turns into profit.<\/p>\n<p>This list covers three bengaluru and mumbai housing developer stocks: Ajmera Realty &amp; Infra India for residential projects and redevelopment in Mumbai, Man Infraconstruction for construction and real estate in Mumbai and Shriram Properties for housing projects in Bengaluru and Chennai. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#What_Are_Bengaluru_and_Mumbai_Housing_Developer_Stocks\" title=\"What Are Bengaluru and Mumbai Housing Developer Stocks?\">What Are Bengaluru and Mumbai Housing Developer Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Bengaluru_and_Mumbai_Housing_Developer_Stocks_at_a_Glance\" title=\"Bengaluru and Mumbai Housing Developer Stocks at a Glance\">Bengaluru and Mumbai Housing Developer Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Why_Do_Bengaluru_and_Mumbai_Housing_Developer_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Bengaluru and Mumbai Housing Developer Stocks Have a Strong Roadmap in India?\">Why Do Bengaluru and Mumbai Housing Developer Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Ajmera_Realty_Infra_India_Mumbai_Township_Launches_Anchor_the_Roadmap\" title=\"Ajmera Realty &amp; Infra India: Mumbai Township Launches Anchor the Roadmap\">Ajmera Realty &amp; Infra India: Mumbai Township Launches Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Man_Infraconstruction_Construction_and_Realty_Anchor_the_Roadmap\" title=\"Man Infraconstruction: Construction and Realty Anchor the Roadmap\">Man Infraconstruction: Construction and Realty Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Shriram_Properties_South_India_Housing_Projects_Build_the_Pipeline\" title=\"Shriram Properties: South India Housing Projects Build the Pipeline\">Shriram Properties: South India Housing Projects Build the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Best_Bengaluru_and_Mumbai_Housing_Developer_Stocks_in_India_Ajmera_Realty_vs_Man_Infra_vs_Shriram_Properties_on_Key_Financials\" title=\"Best Bengaluru and Mumbai Housing Developer Stocks in India: Ajmera Realty vs Man Infra vs Shriram Properties on Key Financials\">Best Bengaluru and Mumbai Housing Developer Stocks in India: Ajmera Realty vs Man Infra vs Shriram Properties on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#How_to_Evaluate_Bengaluru_and_Mumbai_Housing_Developer_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Bengaluru and Mumbai Housing Developer Stocks to Buy Before You Invest\">How to Evaluate Bengaluru and Mumbai Housing Developer Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Risks_to_Consider_Before_Investing_in_Bengaluru_and_Mumbai_Housing_Developer_Stocks\" title=\"Risks to Consider Before Investing in Bengaluru and Mumbai Housing Developer Stocks\">Risks to Consider Before Investing in Bengaluru and Mumbai Housing Developer Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#FAQs_on_Bengaluru_and_Mumbai_Housing_Developer_Stocks\" title=\"FAQs on Bengaluru and Mumbai Housing Developer Stocks\">FAQs on Bengaluru and Mumbai Housing Developer Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Which_are_the_best_bengaluru_and_Mumbai_housing_developer_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best bengaluru and Mumbai housing developer stocks in India with a strong roadmap?\">Which are the best bengaluru and Mumbai housing developer stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Is_Ajmera_Realty_Infra_India_a_good_stock_to_buy_now\" title=\"Is Ajmera Realty &amp; Infra India a good stock to buy now?\">Is Ajmera Realty &amp; Infra India a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#What_is_the_PE_ratio_of_Ajmera_Realty_Man_Infra_and_Shriram_Properties\" title=\"What is the P\/E ratio of Ajmera Realty, Man Infra and Shriram Properties?\">What is the P\/E ratio of Ajmera Realty, Man Infra and Shriram Properties?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Which_of_these_bengaluru_and_Mumbai_housing_developer_stocks_has_the_highest_return_on_equity\" title=\"Which of these bengaluru and Mumbai housing developer stocks has the highest return on equity?\">Which of these bengaluru and Mumbai housing developer stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#What_are_the_risks_of_investing_in_bengaluru_and_Mumbai_housing_developer_stocks\" title=\"What are the risks of investing in bengaluru and Mumbai housing developer stocks?\">What are the risks of investing in bengaluru and Mumbai housing developer stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#How_did_Ajmera_Realty_Man_Infra_and_Shriram_Properties_perform_in_Q1_FY27\" title=\"How did Ajmera Realty, Man Infra and Shriram Properties perform in Q1 FY27?\">How did Ajmera Realty, Man Infra and Shriram Properties perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#Do_bengaluru_and_Mumbai_housing_developer_stocks_pay_dividends\" title=\"Do bengaluru and Mumbai housing developer stocks pay dividends?\">Do bengaluru and Mumbai housing developer stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/bengaluru-and-mumbai-housing-developer-stocks-growth-outlook-picks\/#How_can_I_invest_in_bengaluru_and_Mumbai_housing_developer_stocks_in_India\" title=\"How can I invest in bengaluru and Mumbai housing developer stocks in India?\">How can I invest in bengaluru and Mumbai housing developer stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Bengaluru_and_Mumbai_Housing_Developer_Stocks\"><\/span><strong>What Are Bengaluru and Mumbai Housing Developer Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bengaluru and mumbai housing developer stocks are shares of companies that build and sell homes in large cities. Results depend on sales bookings, project delivery and costs, so sales bookings and delivery separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bengaluru_and_Mumbai_Housing_Developer_Stocks_at_a_Glance\"><\/span><strong>Bengaluru and Mumbai Housing Developer Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three bengaluru and Mumbai housing developer stocks as of the 9 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/ajmera\/ajmera-realty-infra-india-ltd-share-price-today\">Ajmera Realty &amp; Infra India<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">116.92<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,279<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.02<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">32.08<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.71%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.51<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/maninfra\/man-infraconstruction-ltd-share-price-today\">Man Infraconstruction<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">117.16<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,747<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.02<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.44<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.85%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.03<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/shrirampps\/shriram-properties-ltd-share-price-today\">Shriram Properties<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">66.83<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,121<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.28<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">32.08<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.91%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.42<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among residential developer stocks, all three trade at a discount to their industry P\/E multiples.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Bengaluru_and_Mumbai_Housing_Developer_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Bengaluru and Mumbai Housing Developer Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bengaluru and mumbai housing developer stocks have a strong roadmap in India because city housing demand stays firm with rising incomes and job growth, and developers with a steady project pipeline can add sales. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Housing demand:<\/strong> Urban families keep buying new homes.<\/li>\n<li><strong>Project pipeline:<\/strong> Launches and redevelopment add future sales.<\/li>\n<li><strong>Brand and delivery:<\/strong> Timely completion builds buyer trust.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Ajmera_Realty_Infra_India_Mumbai_Township_Launches_Anchor_the_Roadmap\"><\/span><strong>Ajmera Realty &amp; Infra India: Mumbai Township Launches Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ajmera Realty&#8217;s roadmap rests on residential projects in Mumbai, including large township-style launches and redevelopment, with a pipeline of launches in established Mumbai micro-markets.<\/p>\n<p>Revenue grew from Rs 489.12 crore in FY22 to Rs 1,098.00 crore in FY26, a 124.5% rise, and FY26 revenue was 45.8% higher than FY25. FY26 net profit rose 24.3% to Rs 157.08 crore. Over four years, net profit rose from Rs 46.34 crore in FY22 to Rs 157.08 crore. In Q1 FY27, revenue grew 23.1% to Rs 319.52 crore, and net profit rose 13.9% to Rs 44.94 crore. Operating margin was 28.09% in FY26.<\/p>\n<p>Debt to equity is 0.51 and return on equity is 10.71%. FY26 operating cash flow was Rs 68.63 crore against capital expenditure of Rs 28.77 crore. Ajmera Realty paid a dividend of Rs 1 per share for FY26, a yield of 0.86%. At a P\/E of 14.02 against an industry P\/E of 32.08, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 14.02 against an industry P\/E of 32.08 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Man_Infraconstruction_Construction_and_Realty_Anchor_the_Roadmap\"><\/span><strong>Man Infraconstruction: Construction and Realty Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Man Infra&#8217;s roadmap rests on construction and real estate development, mainly in Mumbai, with a land bank and construction contracts supporting revenue.<\/p>\n<p>FY26 revenue was Rs 792.02 crore. FY26 net profit was Rs 211.00 crore. In Q1 FY27, revenue grew 3.9% to Rs 234.92 crore, and net profit rose 7.6% to Rs 62.74 crore.<\/p>\n<p>Debt to equity is 0.03 and return on equity is 8.85%. Man Infra paid a dividend of Rs 0.9 per share for FY26, a yield of 0.77%. At a P\/E of 22.02 against an industry P\/E of 23.44, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 22.02 against an industry P\/E of 23.44 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Shriram_Properties_South_India_Housing_Projects_Build_the_Pipeline\"><\/span><strong>Shriram Properties: South India Housing Projects Build the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Shriram Properties&#8217; roadmap rests on residential housing projects in Bengaluru and Chennai, with project deliveries and bookings supporting revenue.<\/p>\n<p>Revenue grew from Rs 519.75 crore in FY22 to Rs 1,356.93 crore in FY26, a 161.1% rise, and FY26 revenue was 39.4% higher than FY25. FY26 net profit rose 30.4% to Rs 100.81 crore. In Q1 FY27, revenue grew 3.6% to Rs 271.04 crore. Operating margin was 13.77% in FY26.<\/p>\n<p>Debt to equity is 0.42 and return on equity is 6.91%. At a P\/E of 12.28 against an industry P\/E of 32.08, the stock trades below its industry multiple.<\/p>\n<p>What to watch: Return on equity of 6.91% is modest.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Bengaluru_and_Mumbai_Housing_Developer_Stocks_in_India_Ajmera_Realty_vs_Man_Infra_vs_Shriram_Properties_on_Key_Financials\"><\/span><strong>Best Bengaluru and Mumbai Housing Developer Stocks in India: Ajmera Realty vs Man Infra vs Shriram Properties on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best bengaluru and Mumbai housing developer stocks in India, Ajmera Realty leads on Q1 FY27 revenue growth and return on equity; Man Infra leads on the lowest debt to equity; Shriram Properties leads on the lowest P\/E. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Ajmera Realty<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Man Infra<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Shriram Properties<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,098.00<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">792.02<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,356.93<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">157.08<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">211.00<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">100.81<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.71%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.85%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.91%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.02<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.02<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.28<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.51<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.03<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.42<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.86%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.77%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Developer earnings follow sales bookings, project delivery and costs, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Bengaluru_and_Mumbai_Housing_Developer_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Bengaluru and Mumbai Housing Developer Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen bengaluru and Mumbai housing developer stocks and shortlist Bengaluru and Mumbai housing developer stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by company here.<\/li>\n<li>Check pre-sales, project pipeline and debt together.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these bengaluru and Mumbai housing developer stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Bengaluru_and_Mumbai_Housing_Developer_Stocks\"><\/span><strong>Risks to Consider Before Investing in Bengaluru and Mumbai Housing Developer Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Sales timing:<\/strong> Launch delays can shift revenue between quarters.<\/li>\n<li><strong>Interest rates:<\/strong> Home loan rates can influence buyer demand.<\/li>\n<li><strong>Quarterly trends:<\/strong> A single weak quarter can change near-term earnings, so track results every quarter.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Ajmera Realty, Man Infra and Shriram Properties live.<\/em><\/p>\n<p>Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.<\/p>\n<p>Comparing a quarter with the same quarter of the previous year gives a cleaner reading than comparing it with the preceding quarter, since seasonal patterns affect many businesses in India.<\/p>\n<p>The shareholding pattern published every quarter shows whether promoters, mutual funds and foreign investors are raising or trimming their holdings, which adds useful context to the financial numbers.<\/p>\n<p>Spreading money across several sectors and company sizes helps keep a portfolio steady, because each business responds differently to interest rates, commodity prices and consumer demand.<\/p>\n<p>Investors who plan to hold for several years often review results twice a year, check whether management delivered on earlier guidance and compare progress with the original reasons for investing.<\/p>\n<p>Reading the notes to accounts and the management discussion section helps separate recurring income from one-time items, which matters when a single quarter looks unusually strong or weak.<\/p>\n<p>Position sizing matters as much as stock selection, because even a well-researched company can move against an investor in the short term for reasons unrelated to its business.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three residential developer stocks cover residential projects in Mumbai and Bengaluru. Ajmera Realty leads on Q1 FY27 revenue growth and return on equity; Man Infra leads on the lowest debt to equity; Shriram Properties leads on the lowest P\/E.<\/p>\n<p>Across bengaluru and Mumbai housing developer stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the Bengaluru and Mumbai housing developer stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Bengaluru_and_Mumbai_Housing_Developer_Stocks\"><\/span><strong>FAQs on Bengaluru and Mumbai Housing Developer Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_bengaluru_and_Mumbai_housing_developer_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best bengaluru and Mumbai housing developer stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ajmera Realty &amp; Infra India, Man Infraconstruction and Shriram Properties stand out for their roadmaps in residential projects in Mumbai and Bengaluru. Return on equity ranges from 6.91% to 10.71%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Ajmera_Realty_Infra_India_a_good_stock_to_buy_now\"><\/span><strong>Is Ajmera Realty &amp; Infra India a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ajmera Realty &amp; Infra India has a debt to equity ratio of 0.51, a return on equity of 10.71% and a P\/E of 14.02 against an industry P\/E of 32.08. Valuation, sales bookings and delivery move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Ajmera_Realty_Man_Infra_and_Shriram_Properties\"><\/span><strong>What is the P\/E ratio of Ajmera Realty, Man Infra and Shriram Properties?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 14.02 for Ajmera Realty (industry 32.08), 22.02 for Man Infra (industry 23.44) and 12.28 for Shriram Properties (industry 32.08). All of them trade below the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_bengaluru_and_Mumbai_housing_developer_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these bengaluru and Mumbai housing developer stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ajmera Realty &amp; Infra India has the highest return on equity at 10.71%, followed by Man Infraconstruction at 8.85% and Shriram Properties at 6.91%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_bengaluru_and_Mumbai_housing_developer_stocks\"><\/span><strong>What are the risks of investing in bengaluru and Mumbai housing developer stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are sales timing, interest rates and quarterly trends. Launch delays can shift revenue between quarters.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Ajmera_Realty_Man_Infra_and_Shriram_Properties_perform_in_Q1_FY27\"><\/span><strong>How did Ajmera Realty, Man Infra and Shriram Properties perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ajmera Realty &amp; Infra India reported revenue of Rs 319.52 crore, up 23.1% year on year, and net profit rose 13.9% to Rs 44.94 crore. Man Infraconstruction reported revenue of Rs 234.92 crore, up 3.9% year on year, and net profit rose 7.6% to Rs 62.74 crore. Shriram Properties reported revenue of Rs 271.04 crore, up 3.6% year on year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_bengaluru_and_Mumbai_housing_developer_stocks_pay_dividends\"><\/span><strong>Do bengaluru and Mumbai housing developer stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ajmera Realty and Man Infra pay dividends. The dividend yield is 0.86% for Ajmera Realty and 0.77% for Man Infra, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_bengaluru_and_Mumbai_housing_developer_stocks_in_India\"><\/span><strong>How can I invest in bengaluru and Mumbai housing developer stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy bengaluru and Mumbai housing developer stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best bengaluru and Mumbai housing developer stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ajmera Realty & Infra India, Man Infraconstruction and Shriram Properties stand out for their roadmaps in residential projects in Mumbai and Bengaluru. Return on equity ranges from 6.91% to 10.71%.\"}},{\"@type\":\"Question\",\"name\":\"Is Ajmera Realty & Infra India a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ajmera Realty & Infra India has a debt to equity ratio of 0.51, a return on equity of 10.71% and a P\/E of 14.02 against an industry P\/E of 32.08. Valuation, sales bookings and delivery move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.\"}},{\"@type\":\"Question\",\"name\":\"What is the P\/E ratio of Ajmera Realty, Man Infra and Shriram Properties?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The P\/E ratio is 14.02 for Ajmera Realty (industry 32.08), 22.02 for Man Infra (industry 23.44) and 12.28 for Shriram Properties (industry 32.08). All of them trade below the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these bengaluru and Mumbai housing developer stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ajmera Realty & Infra India has the highest return on equity at 10.71%, followed by Man Infraconstruction at 8.85% and Shriram Properties at 6.91%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in bengaluru and Mumbai housing developer stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are sales timing, interest rates and quarterly trends. Launch delays can shift revenue between quarters.\"}},{\"@type\":\"Question\",\"name\":\"How did Ajmera Realty, Man Infra and Shriram Properties perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ajmera Realty & Infra India reported revenue of Rs 319.52 crore, up 23.1% year on year, and net profit rose 13.9% to Rs 44.94 crore. Man Infraconstruction reported revenue of Rs 234.92 crore, up 3.9% year on year, and net profit rose 7.6% to Rs 62.74 crore. Shriram Properties reported revenue of Rs 271.04 crore, up 3.6% year on year.\"}},{\"@type\":\"Question\",\"name\":\"Do bengaluru and Mumbai housing developer stocks pay dividends?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ajmera Realty and Man Infra pay dividends. The dividend yield is 0.86% for Ajmera Realty and 0.77% for Man Infra, based on dividends declared for FY26.\"}},{\"@type\":\"Question\",\"name\":\"How can I invest in bengaluru and Mumbai housing developer stocks in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can buy bengaluru and Mumbai housing developer stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ajmera Realty &#038; Infra India, Man Infraconstruction and Shriram Properties compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":35,"featured_media":301909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[10057,11300,11301,11224],"class_list":["post-301910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-bengaluru-and-mumbai-housing-developer-stocks","tag-bengaluru-and-mumbai-housing-developer-stocks-to-buy","tag-man-infraconstruction","tag-shriram-properties"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["301909"],"rank_math_title":["Bengaluru and Mumbai Housing Developer Stocks"],"rank_math_description":["Bengaluru and Mumbai housing developer stocks with a strong roadmap: Ajmera Realty, Man Infra and Shriram Properties compared on growth, valuation and risks."],"rank_math_focus_keyword":["bengaluru and Mumbai housing developer stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-bengaluru-and-mumbai-housing-developer-stocks-with-a-strong-future-roadmap.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=301910"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301910\/revisions"}],"predecessor-version":[{"id":301911,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301910\/revisions\/301911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/301909"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=301910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=301910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=301910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}