Ajmera Realty’s sales surge by 52% YoY in Q2 FY24;Acquires 3 new projects with a GDV of 800 crores

Key Highlights for Q2 FY24:

  • Sales Area stood at 1,20,787 sq. ft, up 51% YoY
  • Sales Value stood at INR 252 crores, up 52% YoY
  • The collection stood at INR 111 crores, up 8% YoY
  • Acquired 3 projects with GDV of ~INR 800 crores and sales potential of ~4.4 lac sq. ft.
  • Redevelopment of 4 societies at Yogi Nagar, Borivali with sales potential of ~1.07 lacs sq. ft.
  • SRA redevelopment project at Bhandup, with initial phase development of ~1.7 lac sq. ft.
  • Entered into JDA through its SPV for a 69% stake at Electronic Phase 2, Bengaluru with a sales potential of ~1.62 lacs sq. ft.

Mumbai, 10th October 2023: Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA), a leading real estate company with a pan India presence, announced its operational numbers for Q2FY24.

ARIIL has demonstrated exceptional growth in Q2 FY24, with a remarkable 51% YoY increase in sales area to 1,20,787 sq.ft, and a 52% YoY growth in sales value to INR 252 crores. This impressive performance can be attributed to the continued launch momentum of Ajmera Eden, strong demand across various segments and geographies, and the positive impact of the RBI’s decision to pause rate hikes. The significant contribution from Manhattan underscores the project’s market acceptance, highlighting our commitment to excellence and adaptability, paving the path for future successes.

Commenting on the Company’s operational performance for Q2FY24, Mr. Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, “During Q2 FY24, the thrust on pre-sales and business development activities fueled us closer to our desired objective of reaching a sales target of ~INR 1,000 crores for the current fiscal. We believe the momentum of our sales trajectory will continue on the back of upcoming launches and relentless focus in the untapped micro-markets that are driving us closer to realizing our ambitious 5x growth strategy. The
balanced mix of redevelopment, joint ventures, and strategic acquisitions, along with unlocking the value of our land bank will continue to drive growth for the company.

Our project portfolio addresses evolving homebuyer needs, enhancing living spaces and quality of life. Heading into the festive season with robust housing sales momentum, we credit our dedicated team and the stable interest rates for driving growth and encouraging buyer confidence. We remain confident in sustaining strong pre-sales growth through new launches and ready-to-move-in inventory.”

About Ajmera Realty & Infra India Ltd:
Ajmera Realty & Infra India Limited (ARIIL) is one of the trusted names having its PAN India presence. The Company has a huge development potential available on its balance land parcel at Ajmera I-Land, Bhakti Park, Wadala and Central Mumbai. Current projects are at Mumbai: “Manhattan”, “Greenfinity”, “Sikova”, “Prive” and “Eden” along with various projects at Bengaluru: “Ajmera Nucleus”, “Ajmera Lugaano”, “Ajmera Florenza”. The Company is focused on premium developments in luxury and mid-luxury projects in the residential segment. The Group works on Trust and delivers the trusted decisions of buyers. The GenNext of the Group believes in “KEEP EVOLVING” and accordingly the strategies, systems, processes, planning and use of cutting-edge technologies have been resorted to enable the Company to deliver targeted value to all its stakeholders.

Safe Harbor Statement: Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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