LEADERSHIP THAT BUILDS BEYOND STRUCTURES

Founded in 1968 by Shri Chhotalal S. Ajmera, the group began with a focus on affordable housing in Mumbai. Over time, it pioneered several firsts most notably, developing Asia’s first integrated township at Mira Road, spread across 265 acres with over 17,000 homes. This marked the beginning of a large-scale, community centric development model. The 1990s and 2000s saw the company expand its footprint with landmark projects like Yogi Hills, Bhakti Park near Wadala (long before the area’s transformation), and its first major Bengaluru project, Ajmera Infinity. The group also ventured internationally and diversified into commercial and mixed-use real estate. Today, with projects across Mumbai, Bengaluru, Pune, Ahmedabad, and international locations, Ajmera Realty has become a name synonymous with trust, timely delivery, and innovation.

TRENDS SHAPING FUTURE REAL ESTATE

The real estate sector is at the cusp of transformation and there are new shifts happening in the way people live and work. Dhaval Ajmera says integrated township is one of the most important trends that is changing real estate in the future. “These are not mere housing projects but self contained ecosystems that smoothly integrate residential, commercial, educational, recreational, and healthcare components together in a single large scale, master planned design. The ever-increasing density and congestion in cities and towns are driving homebuyers towards gated, convenient, well-planned homes, with a sense of quality life, safety, and handiness, all in one place. Integrated townships minimize commuting time, the reliance on external infrastructure and enhance a strong sense of community. They also consider the future-oriented issues such as green space, waste disposal, walkability, and sustainability.”

“At Ajmera Realty, we’ve witnessed this shift firsthand. In fact, we were pioneers in this space - having developed Asia’s first integrated township in Mira Road back in the 1980s, long before the concept became a mainstream demand. Today, that vision has become the blueprint for modern urban living,” he added.

Dhaval Ajmera highlights other evolutions barring townships

• Sustainable growth – green buildings, solar and energy efficient designs have become the necessity.
• Smart houses and technologies in living conditions – Automation, digital security, and app-based property management are especially popular.
• Increasing hybrid space demand – There is increasing demand in co-working, co-living, and flexible-use development, mostly after the pandemic.

 What’s more, there’s a paradigm shift that has taken place over the years when it comes to the dynamic preferences of homebuyers. Interestingly, this continues to evolve. As Dhaval Ajmera states, “Back in the day, homebuyers only looked for the basic elements like the floor size, lift facility, and well-ventilated place. From this point, the demand gradually progressed to high-rise apartments with amenities like swimming pool, garden and play area. Cut to 2025, there is a plethora of factors that come into play where the homebuyers are looking for an all-inclusive living, making homes a lifestyle statement. Residences are no more looked as address but a sense of prestige and homebuyers are looking for ultra-modern amenities like EV charging facilities, jogging track, turf, business lounge, and the list goes on.”

BUSINESS STRATEGY & INNOVATION

Talking about the strategies that have been most effective for growing business in a competitive market Dhaval Ajmera shares that ensuring high level of trust, timely delivery, and customer-centricity has been one of their biggest strategies in ensuring that the business grows in a highly competitive realm of real estate business. “At Ajmera Realty, we have consistently put it as our faith that successful delivery gives credible acceptance and credible growth. Our specialization has been in creating high demand urban corridors where we have a diverse balance of residential, commercial and township projects to bars reach different segments of buyers. The other fundamental strategy has been our redevelopment model, and we have done extremely well in this space in land-constrained cities such as Mumbai where we have crystallized tremendous value through redevelopment of the society.” He adds, “Financial prudence has been central in facilitating sustainable growth- we have been vigorous in reducing debt, strategic participation of equity as well as capital distribution towards high-GDV projects. And finally, our capacity to evolve with the market, whether we incorporate smart technology, focus on green design, or improve our digital sales experiences, has kept us nimble, and on top of an ever-changing market situation.”

BALANCING INNOVATION WITH TRADITIONAL VALUES

Dhaval Ajmera believes that while modernization and innovation are essential, they must never come at the cost of value and trust of homebuyers. “Today, whether it’s green certified buildings, smart-home systems, or digitally enabled sales and service, every innovation we adopt is carefully evaluated against our founding values. Does it reinforce our promise? Does it add real value for our residents? If not, we don’t proceed.” “At Ajmera Realty, our 5X Growth Strategy is about unlocking the potential of our land bank while expanding through acquisitions, joint ventures, and redevelopments, backed by a balanced mix of residential and commercial projects. For FY26, we are targeting pre-sales of ?1,600 crore, reflecting nearly 50% year-on-year growth At Ajmera Realty, innovation is never about chasing trends, it is about enriching our legacy of trust, integrity, and customerfirst commitment,” he stated.

LEADERSHIP & CULTURE

Recognized as one of the industry’s most influential voices, Dhaval Ajmera talks about building a strong company cul ture in a fast-paced industry. “In our organization, we have developed a culture of openness, agility and accountability with sheer deliberation. During decision-making, transpar ency guarantees the employees a sense of knowledge and involvement. We have also created an environment where they have a culture of continuous learning and collaboration which is equally rewarded alongside the outcomes. Employees get the opportunity to provide feedback, give suggestions and they are included in cross-functional projects. Not only does this eliminate the silos but it also cultivates a collective sense of ownership throughout the enterprise. Notably, we realize that culture is not an initiative, but it is an ongoing process. We review our internal practices on a regular basis and strive to ensure that our people feel valued and invested in whether it is by celebrating milestones or carrying out frequent engagement surveys as well as the encouragement of flexible work models. After all, it is not by default that culture gets constructed. If a company is people-centered, purpose oriented and performance-oriented, the organization, as a whole does so as well.”

EMPOWERING THE NEXT GENERATION

“I involve the next generation in every key decision. They sit in meetings, visit sites, talk to customers, and profoundly learn by doing. I also encourage them to bring in new ideas whether it’s smart tech, design innovation, or sustainability. My job is to guide, not control. I believe that they will shape the future in their own way, and I’m here to support them. They’re encouraged to take risks, bring in new technology, and challenge the old way of thinking. I don’t just hand them the reins,” states Dhaval Ajmera.

"For me, continuing the legacy means much more than handing over the business to the younger generations. It’s majorly about passing on our values of honesty, commitment, and forward thinking."

HOW DO YOU STAY MOTIVATED DURING MARKET DOWNTURNS?

As per Dhaval Ajmera, what keeps him going is the team, the people who’ve stood by him, and the families who trust him with their homes. “Throughout my journey as an entrepreneur, I’ve seen many ups and downs over the years, and one thing I’ve learned is that how you deal with challenges largely depends on how well you are planned for any such foreseen situations. Downturns also push you to think differently you tighten your processes, find smarter ways to work, and come out stronger.” “Also, the fact that I come from the 2nd generation, being in the middle of young and experienced minds of the 3rd generation and the first generation respectively, helps me learn and unlearn a lot. It’s never easy, but it’s part of the journey, especially in such a volatile sector like ours ups and down are a part of the journey. What should remain is the perseverance to keep doing better with every project. Even spirituality has made me stronger and inspires me to do better every day,” he added.

THE FUTURE VISION

On the question of one thing about the real estate industry, he would like to change, Dhaval Ajmera said, “If there’s one thing, I’d really like to see improved in the real estate industry especially in India it’s the ease of doing business.” “While we’ve come a long way over the years, there are still too many layers of approvals, clearances, and paperwork that cause unnecessary delays. From land acquisition to final project approvals, the process can be slow and often inconsistent across regions. These delays don’t just affect developer, but they directly impact customers, timelines, and the overall trust in the sector. In a business where delivery and reputation are everything, even a small administrative holdup can cause a ripple effect. I believe that a more streamlined, transparent, and tech-enabled system would go a long way in making the industry more efficient and investor-friendly. Making these processes smoother would allow developers to focus more on innovation, quality, and timely delivery which is ultimately what benefits the end user the most.”

WHAT LEGACY DO YOU HOPE TO LEAVE?

One of the books Dhaval Ajmera gets motivated by, is 101 Tales of Wisdom: As Told by Yogiji Maharaj that inspires personal growth and spiritual reflection. He added, “I hope people remember us for the kind of spaces we built homes that feel right, communities that last, and buildings that stand the test of time. Trust, commitment, and innovation are three things that I would like to create a legacy around. I feel if you want to take your legacy forward then you need to stick to your ethos and principles to grow. And I hope the next generation keeps pushing forward building with integrity, taking care of people, and doing the right thing, even when no one’s watching. To my peers, I say never stop learning and innovating; our reputation is built on trust and timely delivery, so maintain financial prudence and embrace strategic redevelopment. To the new generation, I emphasize three core principles: integrity, which is the bedrock of your career; innovation, as the future lies in technology and sustainability; and empathy, because you’re helping people find a home, not just a property.”

" My biggest mentors have been my father as I have grown up seeing him built this business with their hands and heart. I learned from him that people matter more than profits, and trust takes years to build but seconds to lose. My brother and I were thoroughly trained well before we entered business."