Ajmera Realty & Infra India Ltd (ARIIL), on April 10, 2023, announced its operational numbers for Q4 FY23 and Q4 FY23. The real estate company recorded sales value of Rs 834 crore in FY23, marking a YoY increase of 93%. The sales value for Q4 FY23 stood at Rs 140 crore, showing an increase of 10% from the sales value of Rs 128 crore in Q3 FY23.
ARIIL clocked sales volume of 3,70,219 sq ft in FY23, up 50% YoY. The carpet area sold by the company grew by 9% from 63,595 sq ft in Q3 FY23 to 69,209 sq ft in Q4 FY23. The cash collection for FY23 stood at Rs 532 crore, marking an YoY increase of 35% from Rs 394 crore in FY22. The company’s cash collection increased by 11% from Rs 116 crore in Q3 FY23 to Rs 103 crore in Q4 FY23.
Dhaval Ajmera, director, ARIIL, said, “Our FY23 performance, surpassing the peak sales of the COVID period, shows the sustained housing upcycle driven by strong affordability, job creation, and income growth. Looking ahead, we are excited to double our launch pipeline in FY24, with the aim of garnering Rs 2000 crore of estimated gross sales towards this effort. In addition, we are currently in active discussions towards the JV/JD/DA low capex acquisitions, which will further strengthen our pipeline. Having already launched half a million sq ft last year, we are optimistic about our growth prospects. We have demonstrated exceptional execution capabilities in projects such as Greenfinity and Sikova, and we remain committed to prioritizing timely delivery and ensuring customer satisfaction.”
“Leveraging our brand and expertise, we are poised to take on new business developments and upcoming launches while also focusing on debt deleveraging with strong cash flow. We expect this strategy to increase our market share and drive improved earnings in the quarters ahead, further bolstering our confidence in the future of the company,” he added.
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