April 9, 2024: Real estate company Ajmera Realty & Infra India (ARIIL) announced its operational numbers for Q4 FY24. According to the company, it saw a twofold sale in Q4 FY24, surging to Rs 287 crore from Rs 140 crore in Q4 FY23. In Q4 FY24, the sales area stood at 1, 12, 931 sqft up 63% YoY from 69,209 sqft in Q4FY23. The sales value in Q4 FY24 stood at Rs 287 crore up 104% YoY from Rs 140 crore in Q4FY23 and the collections in Q4 FY24 stood at Rs 197 crore up 91% YoY from Rs 103 crore in Q4FY23.
With the connectivity boost facilitated by the inauguration of the Mumbai Trans Harbour Link, Wadala—the company’s flagship micro-market experienced a strong surge in demand, significantly contributing to this growth. Ajmera Manhattan saw a record Rs 100 crore in sales in a single month and the launch of the next phase of Ajmera Greenfinity has been equally impactful. The quarter’s robust collection, with a 97% YoY growth, was diversified across projects.
During FY24, ARIIL capitalised on industry growth and infrastructural advancements, resulting in tangible successes. The company strategically added six projects to its pipeline, aligning with its low capex model and inorganic growth strategy. This expansion increased the launch pipeline to 1.3 million square foot (msf) with a gross development value (GDV) of Rs 3,130 crore, further solidifying its presence in various micro-markets within the Mumbai Metropolitan Region (MMR). ARIIL’s sales momentum across the portfolio witnessed a significant upsurge, complemented by the successful launch of two projects valued at Rs 500 crore GDV in the central belt of MMR.
ARIIL highlighted its operational excellence through its faster project execution strategy before RERA timelines. Additionally, a recent structured deal for its Ajmera Manhattan project facilitated a partial prepayment of the GCP loan of Rs 200 crore, indicative of ARIIL’s prudent financial management practices.
Dhaval Ajmera, director, Ajmera Realty & Infra India Ltd, said, “As we reflect on FY24, I am pleased to share that it has been a stellar year for Ajmera Realty. We have achieved our highest ever pre-sales figures, totaling Rs 1,017 crore, in alignment with our stated guidance. The company’s relentless efforts have yielded remarkable results across aggressive acquisitions, business development endeavors, and execution strategies, underscoring excellence in every aspect of our operations.”
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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