May 9, 2024: Real estate developer Ajmera Realty today announced its financial results for the fourth quarter (Q4 FY24) and financial year (FY24) ended March 31, 2024. The company’s sales value grew twofold in Q4 FY24, surging to Rs 287 crore from Rs 140 cr in Q4 FY23. For FY24, the sales value was Rs 1,017 crore, recording a 21% YoY growth. Collections remained robust in Q4 FY24 with a 91% YoY growth, surging to Rs 197 cr from Rs 103 cr in Q4 FY23.
Ajmera Realty’s total revenue in Q4 FY24 grew by 99% on YoY basis to Rs 234 crore from Rs 118 crore in Q4 FY23. During FY24, the company’s revenue recorded a YoY growth of 61% to Rs 708 crore from Rs 441 crore in FY23. Profit after tax (PAT) in Q4 FY24 grew by 90% on a YoY basis to Rs 29 crore as compared to Rs 15 crore in Q4 FY23. In FY24, PAT grew by 44% YoY to Rs 103 crore from Rs 72 crore in FY23. The company’s debt-equity ratio stood at 0.90:1 in Q4 FY24 as against 0.94:1 in Q3 FY24 and 1.00:1 in Q4 FY23.
Dhaval Ajmera, director, Ajmera Realty, said, “Ajmera Realty recorded its robust annual topline of over Rs 700 crore and a bottomline of more than Rs 100 crore. The pre-sales for the company clocked over Rs 1,000 crore, which is remarkable despite the higher base effect. Looking ahead, we are more confident than ever of achieving our strategic vision of 5x growth, considering our exceptionally strong pipeline of launches, project additions, managing leverage despite growth momentum; we hereby are taking a leap ahead with our guidance for FY25 with a 33% growth in pre-sales.”
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