Ajmera Realty & Infra India announced FY23 results: Sales Value increased by 95% YoY to Rs 842 crore Sales Volume grew by 50% YoY to 3,70,219 lakh sq. ft. Collections increased by 35% YoY to Rs 532 crore PAT increased by 58% YoY to Rs 72 crore, with PAT Margin at 16% Debt decreased by 7% YoY to Rs 776 crore Launched 2 projects for a Gross Development Value of around Rs 1,650 crore Acquired land with a Gross Development Value of around Rs 550 crore Commenting on the performance during Q4FY23 & FY23, Dhaval Ajmera, Director –ARIIL said, “We are pleased to announce that our company has achieved strong performance throughout FY23, with sales reaching Rs 842 crore. This success is due to sales momentum gained in our existing as well as the new launches of Ajmera Manhattan & Ajmera Prive during the year, fast-paced execution, and the strong demand for quality homes in the sector. Backed by industry reforms and continued demand from homebuyers along with the unchanged repo rate, we are highly optimistic about our growth strategy and the future of the real estate sector. Our company achieved a remarkable 58% growth in PAT to Rs 72 crore, with PAT margin increasing by 695 bps to 16%, which has been a testimony to our operational efficiency in faster execution capability showcased for Sikova & Greenfinity project. We also deleveraged debt by 7% on a YoY basis, yielding to our debt/equity ratio of 1:1 for FY23 which has been primarily on account of our debt management efforts and growth in our sales collection. Looking forward, we are confident in our 5x growth strategy, with a promising launch pipeline of four projects with Gross Development Value (GDV) of about Rs 2000+ crore, this includes our upcoming sales launch for Ajmera Eden during this quarter. We are also excited to share that we recently acquired a land parcel at Vikhroli East, which is expected to further fuel our growth journey. Our brand's legacy and commitment to providing homes across segments and customer satisfaction are key to our growth moving forward, and we remain optimistic about our prospects in the coming year.” Result PDF
Ajmera Realty & Infra India announced Q4FY22 results: FY22: Sale Value at Rs 431 crore; 344 Number of units sold Collections at Rs 394 crore Revenue at Rs 489 crore; up 39% YoY EBIDTA at Rs 123 crore; up 22% YoY, EBIDTA Margin at 25% PBT at Rs 62 crore; up 51% YoY, PBT Margin at 13% PAT at Rs 45 crore; up 50% YoY, PAT Margin at 9% Q4FY22: Sale Value at Rs 122 crore; 128 Number of units sold Collections at Rs 93 crore, Revenue at Rs 184 crore; up 130% YoY EBIDTA at Rs 43 crore; up 64% YoY, EBIDTA Margin at 23% PBT at Rs 20 crore; up 21% YoY, PBT Margin at 11% PAT at Rs 14 crore; up 12% YoY, PAT Margin at 8% Realization at INR 13,452 per sq. ft.; up 11% YoY Commenting on the Q4 & FY22 performance, Mr. Dhaval Ajmera, Director – Ajmera Realty & Infra India Limited said: “India’s real estate sector has shown significant improvement in every quarter of FY22, reinforcing growth momentum. As the pandemic begins to wane across the country, we expect the real estate sector to continue positive growth over the next few years. Today’s millennial homebuyer decisions are influenced by their need to upgrade to modern larger living spaces furthered by an upsurge in quality projects, lucrative offers from real estate companies and low interest rates on home loans. These, along with a significant change in work culture driven by hybrid working, enhanced hiring data led by tech companies and rising disposable incomes are some important factors that have improved the outlook for the sector. The Union Budget 2022-23 announcements such as digitisation of land records, increased allocation under PM Awas Yojna, PM Gati Shakti, are further expected to boost investments in this sector. With a stronger demand for quality housing quarter on quarter, Ajmera Realty has delivered a strong performance in FY22. In line with the current demand during the year, Ajmera Realty has projected strong execution in its projects, coupled with greater revenue visibility. All our advanced stage projects have been brought to OC stage with significant inventory being sold. Our project Greenfinity, has showcased ahead of schedule execution with a 22-storey superstructure completed in a short span of ~14 months. This is a self-funded project through sales subvention at a competitive interest rate. Our project Sikova, a boutique office development in Ghatkopar, Mumbai witnessed 50% of sales during the Covid-19 pandemic period, is now eligible for revenue recognition. We also strategically moved one of our commercial project Nucleus in Bangalore, from a cash flow generating revenue model to an outright sale model. We expect to accrue revenue of Rs 800 crores from our existing projects in Mumbai and Bengaluru. With a robust launch pipeline, we maintain sustained momentum towards our 5x growth plan, as we look forward to building on this momentum in next 3- 5 years. In line with our objective to grow exponentially, we plan to launch five projects in Mumbai and one project in Bangalore, during the FY23 & FY24, with a total revenue potential of Rs 4,000 Cr and an estimated saleable area of ~2.8 msf. Of these, we have already launched Ajmera Manhattan, Wadala during the month of April 2022. This brings the total estimated revenue of Rs 4,800 crores in the next 3-5 years from our future launches as well as existing projects. In the coming years, the company also plans to integrate inorganic growth, through low capex acquisition in the form of JV / JDA / DA Model. Despite rising prices and the current geopolitical situation, we foresee the residential and commercial real estate outlook to remain optimistic with strong sales activity supported by continued dynamic policy support, high vaccination coverage, improving infrastructure and positive business environment." Result PDF