Ajmera Realty achieved an impressive twofold sale in Q4 FY24, surging to INR 287 crore from INR 140 crores in Q4 FY23. With the connectivity boost facilitated by the inauguration of Atal Setu, Wadala—our flagship micro-market, has experienced a strong surge in demand, significantly contributing to this growth.
Ajmera Manhattan saw a record INR 100 crores in sales in a single month, reflecting exceptional market response. The launch of the next phase of Ajmera Greenfinity has been equally impactful, underscoring the project's immense appeal. The quarter's robust collection, with a 97% YoY growth, was diversified across projects.
During FY24, ARIIL capitalized on industry growth and infrastructural advancements, resulting in tangible successes. The company strategically added six projects to its pipeline, aligning with its low capex model and inorganic growth strategy. This expansion increased the launch pipeline to 1.3 mn sq.ft. with a GDV of INR 3,130 crores, further solidifying its presence in various micro-markets within the MMR region. ARIIL's sales momentum across the portfolio witnessed a significant upsurge, complemented by the successful launch of two projects valued at INR 500 crore GDV in the central belt of MMR.
ARIIL highlighted its operational excellence through its faster project execution strategy before RERA timelines. Notably, the company achieved the remarkable milestone of delivering ~1,000 possessions across three projects within a span of 24 hours, demonstrating its unwavering dedication to customer satisfaction and adherence to project delivery schedules. Additionally, a recent structured deal for its Ajmera Manhattan project facilitated a partial prepayment of the GCP loan of INR 200 crores, indicative of ARIIL's prudent financial management practices.
Commenting on the Company’s operational performance for Q4 FY24, Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said,
“As we reflect on FY24, I am pleased to share that it has been a stellar year for Ajmera Realty. We have achieved our highest ever pre-sales figures, totalling Rs. 1,017 crores, in alignment with our stated guidance. The company's relentless efforts have yielded remarkable results across aggressive acquisitions, business development endeavours, and execution strategies, underscoring excellence in every aspect of our operations. This achievement stands as a testament to our unwavering commitment to future growth and our ambitious 5x growth strategy moving forward.”
