Ajmera Realty & Infra has achieved its highest ever quarterly sales, marking a significant milestone in the company's growth trajectory. The real estate developer reported sales of INR 828.00 crores for the quarter, representing a robust 48% year-on-year growth.

Strong Project Launches Fuel Growth

The company's impressive performance was primarily driven by two major project launches in September:

1. Ajmera Manhattan 2 at Wadala
2. Thirty 3.15 in Bandra

These projects have a combined gross development value of over INR 2,100.00 crores, showcasing Ajmera Realty's ambitious expansion plans. Notably, Manhattan 2 has already sold 38% of its inventory within a month of its launch, indicating strong market demand for the company's offerings.

Financial Performance

For the first half of the fiscal year, Ajmera Realty reported:

Operational Highlights

• Delivered 533 homes in the first half
• Targeting 1,000 possessions for the full year
• Total debt stands at INR 690.00 crores
• Debt-to-equity ratio maintained at 0.55x

Future Outlook

Ajmera Realty has strengthened its revenue visibility to INR 3,599.00 crores from committed sales and available inventory. The company maintains its guidance for INR 6,400.00 crores in launches for the year and expects strong momentum from seven upcoming projects across 1.6 million square feet.

Market Position

The company's performance aligns with the broader trend in the Indian real estate market, which is showing signs of maturity and steady growth. Ajmera Realty's focus on luxury housing in Mumbai, coupled with its presence in mid-income and premium segments, positions it well to capitalize on current market dynamics.

As the real estate sector continues to consolidate, Ajmera Realty's strategic approach to new launches and project execution appears to be yielding positive results. The company's ability to align with market demand while maintaining financial discipline suggests a robust foundation for future growth.

Ajmera Realty & Infra India Limited , a prominent player in the real estate sector, has announced a proposal to split its equity shares in a 1:5 ratio, subject to shareholder approval. The company aims to enhance share liquidity and broaden its retail investor base through this corporate action.

Key Details of the Proposed Stock Split

Rationale and Process

The Board of Directors, in their meeting on November 6, approved the stock split proposal, citing the following objectives:

1. Enhance liquidity of the company's shares
2. Make shares more affordable for retail investors
3. Broaden the shareholder base

The split will be executed through a postal ballot, with e-voting scheduled from November 12 to December 11. The cut-off date for determining eligible shareholders is set as October 31.

Impact on Shareholders

If approved, each existing equity share with a face value of ₹10.00 will be subdivided into five shares with a face value of ₹2.00 each. This split will not affect the company's total share capital value, which will remain at ₹150.00 crores. Shareholders' proportional ownership in the company will also remain unchanged.

Amendments to Company Documents

The stock split necessitates changes to the company's Memorandum of Association. Clause V of the document will be amended to reflect the new face value and number of shares in the authorized capital.

Market Implications

While the stock split does not directly impact the company's fundamentals, it may potentially increase trading volume and accessibility for smaller investors. However, shareholders and potential investors should note that stock prices post-split will adjust proportionately, and the split itself does not create additional value.

Next Steps

Shareholders are encouraged to participate in the e-voting process to voice their decision on this proposal. The results of the postal ballot are expected to be announced within two working days of the conclusion of remote e-voting.

As Ajmera Realty & Infra India Limited continues to expand its operations in the real estate sector, this corporate action reflects the company's focus on improving shareholder engagement and market liquidity. Investors should carefully consider the implications of this proposed change and make informed decisions based on their individual investment strategies and goals.