Ajmera Realty and Infra India Ltd. continues to deliver strong operating performance
Key Highlights for H1FY22:
· Total Revenue at Rs. 235 crore; up 57% YoY
· Sales advances at Rs. 217 crore; up by 95% YoY
· 139 units sold with total area of 1,69,082 sft
· EBIDTA at Rs. 59 crore; up 38% YoY
· Profit Before Tax at Rs. 29 crore; up 103% YoY
· Profit After Tax at Rs. 22 crore; up 121% YoY
Mumbai,November 2021: Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA) a leading real estate company with pan India and International presence today announced its unaudited results for the quarter and half year ended 30th September 2021. The company delivered strong revenue and profitability for the half year as a result of impressive construction progress, steady sales book and increase in number of units sold.
The company has achieved strong operating performance with growth in profit margins, continued debt reduction with good performance on key financial parameters for H1FY22:
(Rs in crore)
EPS (in ₹)
Company has shown adequate financial performance with strong cashflow visibility with mid stage projects moving into revenue recognition stage while advance stage projects almost sold.
Commenting on the H1FY22 performance, Dhaval Ajmera, Director – Ajmera Realty & Infra India Limited said “As one of India’s leading real estate Company, it has been our endeavor to be a dominant player in residential segment and create value for all stakeholders. The improved pandemic scenario and the low home loan rates have provided the required traction to our ready-to-move and under-construction projects. We are on path of debt reduction. There are launches scheduled for three new projects this year in our effort to continue strong growth trajectory.
The overall real estate market including the key regions of Mumbai, Bengaluru, and Ahmedabad is witnessing an improved performance coming out of the second wave and we expect the market to further improve in the coming quarters. The need for home ownership accompanied with a positive buyer sentiment - especially during the festive season will aid the growing momentum.
With the recent developments and upcoming significant launches assisted with the favorable market sentiment, Ajmera Realty is poised to build on the current momentum.”
Update on Recent Developments
· A total of 1.3 mn sft that includes the residential projects at Wadala & Ghatkopar and the Residential + Commercial project at Pune are set for launch.
· The residential projects - Aeon, Zeon, Treon are nearing completion with OC received and Estimated Completion is December 2021.
·The residential project Nucleus in Bangalore is estimated to be completed in January 2022.
· Greenfinity has become eligible for revenue recognition in Q2FY22.
· The company is also in the final stages of a new acquisition in Mumbai.
During the current quarter, the company has incurred Rs.5.6 Lakhs towards CSR expenses for organizing vaccination for its employees etc. at Mumbai.
About Ajmera Realty and Infra India Limited: Ajmera Realty & Infra India Limited (ARIIL) is one of the trusted names having its PAN India presence along with international presence in locations viz. Bahrain and London. The Company has a huge development potential available on its balance land parcel at Ajmera i- Land, Bhakti Park, Wadala. Current projects are at Mumbai: “AEON “,”ZEON”, and “TREON” along with various projects at Bengaluru: “Ajmera Lugaano” and “Nucleus”, Ahmedabad:”Casa Vyoma”,”Enigma”. The Company is focused on premium developments in luxury and mid-luxury projects in 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 has been resorted to enable the Company to deliver targeted value to all its stakeholders.