Ajmera Realty and Infra India Ltd. starts FY22 on an accelerated note
Dhaval Ajmera , Director –Ajmera Realty & Infra India Limited
Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA) a leading real estate company with pan India and International presence today announced its Q14FY2022 reporting 240 percent growth in revenues to Rs. 136 crore on a yearly comparison.
For the Q1FY22, the company has reported substantial growth in value of sales enhancing company’s liquidity position. The increase is the result of ready to move in homes with OC despite second wave of lockdown and discontinuing stamp duty concession in Maharashtra. The key regions of Mumbai, Bengaluru and Ahmedabad reported healthy numbers defying the industry challenges faced by the pandemic affected world.
Despite Covid 19 challenges and second lockdown during significant part of the quarter period, Company has been able to achieve similar performance on key financial parameters for Q1FY2022:
| Particulars | Q1FY2022 (INR in crs.) | Q1FY2021 (INR in crs.) |
| Revenue | 136 | 40 |
| EBITDA | 34 | 13 |
| PBT | 14 | 3 |
| PAT | 11 | 2 |
Company’s secured loans on the projects as on Q1FY2022 has reduced significantly ahead of its repayment schedule due to sales collection on robust sales.
Company’s financial performance when viewed considering the two lockdowns and registering growth in revenue levels with a strong cash flow, stands apart and augers well for an accelerated growth trajectory for fiscal FY22.
Commenting on the Q14FY22 performance, Dhaval Ajmera , Director –Ajmera Realty & Infra India Limited said “The result highlights robustness of our business model to sustain profitability even at difficult times and scale through unprecedented event such as Covid 19 and subsequent lockdowns. Despite the challenging scenario, we have been able to register growth in sales value and number of units sold during the period. We shall continue our endeavor towards creating value for all stakeholders and initiating measures for the safety of all our employees and their families.”
Update on Recent Development
Ajmera Realty & Infra India Limited (“ARIIL”/”the Company”) has proposed demerger of 6.5 acres of commercial undertaking project at Ajmera i-land,Bhakti Park ,Wadala from ARIIL into its wholly owned subsidiary viz. Radha Raman Dev Ventures Private Limited (“RRDVPL”/”the subsidiary Company”)The said proposal is pending for NCLT approval. Resulting, the Commercial undertaking project shall be identifiable for attracting prospective investor/strategic partners to participate in the project.
CSR Initiatives
During the current quarter, the company has incurred Rs.8.25 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.
DISCLAIMER: Certain statements in this document may be forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Ajmera Realty & Infra India Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
