Ajmera Realty & Infra has announced its financial results for Q4 and the fiscal year 2024-25, revealing a mixed performance with strong annual growth despite a dip in quarterly sales.

Q4 and FY 2024-25 Performance Highlights

Ajmera Realty reported a 13% decline in Q4 sale bookings, which dropped to ₹250.00 crore. However, the company demonstrated robust performance for the full fiscal year 2024-25:

The company's annual sales value increased from ₹1,017.00 crore in FY 2023-24 to ₹1,080.00 crore in FY 2024-25, marking a 6% year-over-year growth. Collections saw an even more substantial increase of 13%, rising from ₹570.00 crore in the previous fiscal year.

Project Performance and Launches

Ajmera Realty's impressive annual numbers were supported by strong sustenance sales across various projects:

• Ajmera Lugaano & Florenza: Approximately 96% sales
• Ajmera Eden & Ajmera Manhattan: About 90% sales
• Ajmera Greenfinity: Roughly 71% sales
• Ajmera Prive: Around 70% sales

The company also launched new projects during FY 2024-25, including Ajmera Vihara, Ajmera Iris, and Ajmera Marina, which achieved sales velocities of 65%, 64%, and 42% respectively in their launch quarters.

Business Development and Future Pipeline

Ajmera Realty has expanded its project pipeline, adding three new projects totaling approximately 7 lakh sq. ft. with an estimated Gross Development Value (GDV) of ₹2,300.00 crore. This strategic move has increased the company's total launch pipeline to about 2.6 million sq. ft. with a GDV of ₹6,800.00 crore.

Management Commentary

Mr. Dhaval Ajmera, Director of Ajmera Realty & Infra India Ltd, commented on the company's performance: "As we reflect on FY 2024-25, I am pleased to share that it has been a consistent year for Ajmera Realty. We have achieved our pre-sales figures totaling ₹1,080.00 crores with further efficiency in sales collection at ₹646.00 crores. Despite market fluctuations, our strategic project launches and customer-centric approach have resulted in sales momentum across our portfolio."

Conclusion

Despite the Q4 dip in sales bookings, Ajmera Realty & Infra India Ltd's overall performance in FY 2024-25 demonstrates resilience and growth. The company's consistent annual results and expanded project pipeline reflect its strong position in the real estate market and its commitment to sustainable growth. The company's future performance will likely depend on the successful execution of its expanded project portfolio and market conditions in the coming fiscal year.

Ajmera Realty & Infra India Limited (BSE: 513349, NSE: AJMERA) has announced a significant expansion of its real estate portfolio with the acquisition of a prime redevelopment project in Andheri West, Mumbai. This strategic move aligns with the company's growth strategy and underscores its focus on urban redevelopment opportunities in key Mumbai locations.

Project Details

The company has been appointed as the developer to redevelop the premises of Ascot Co-operative Housing Society Limited, situated at Shastri Nagar, Lokhandwala Complex, Andheri West. The project covers a total land area of 2,319 square meters and is set to be developed in a single phase.

Financial Projections

Ajmera Realty is targeting an impressive Gross Development Value (GDV) of ₹320 crore for this project. The development is expected to yield a total estimated carpet area of approximately 71,300 square feet.

Strategic Significance

This acquisition represents more than just a new project for Ajmera Realty; it's a return to the company's roots. Shastri Nagar, the location of the redevelopment project, was originally developed by the Ajmera Group, which enhances the company's brand recall in the area.

Mr. Dhaval Ajmera, Director of Ajmera Realty & Infra India Limited, commented on the acquisition: "We are pleased to undertake the redevelopment of Ascot Co-operative Housing Society in Shastri Nagar, Andheri West, an area that holds a significant place in Ajmera Group's legacy township development. This project reinforces our commitment to revitalizing high-potential micro-markets through strategic redevelopment, JV/JDA models and asset-light acquisitions."

Location Advantages

The project's location in Andheri West offers several benefits:

• Seamless access to social, educational, healthcare, and commercial amenities
• Proximity to recreation centers, renowned medical facilities, and top-tier educational institutions
• Well-connected to retail and business hubs
• Excellent metro connectivity

Company Strategy

This redevelopment project is part of Ajmera Realty's broader strategy to:

1. Diversify its portfolio through asset-light acquisitions
2. Increase focus on redevelopment projects
3. Strengthen presence in Mumbai's growing micro-markets
4. Accelerate expansion in the redevelopment sector across the Mumbai Metropolitan Region (MMR)

Outlook

With this latest addition, Ajmera Realty has added four new projects with a total GDV of approximately ₹2,770 crore, progressing towards its fiscal guidance. The company remains committed to creating living spaces that blend comfort with spacious design, while focusing on quality and sustainability in its developments.

As urban redevelopment continues to gain importance in space-constrained cities like Mumbai, Ajmera Realty's strategic focus on such projects positions it well to capitalize on the growing demand for modern urban living spaces in prime locations.