Ajmera Realty & Infra India Ltd on Monday announced that it has achieved sales value of Rs 287 crore during the fourth quarter of FY24, up 104 per cent in comparison to Rs 140 crore in Q4FY23. The collections for the quarter was at Rs 197 crore recording a growth of 91 per cent as against the same period last year.
“With the connectivity boost facilitated by the inauguration of Atal Setu, Wadala—our flagship micromarket, has experienced a strong surge in demand, significantly contributing to this growth,” the company said in a regulatory filing. Ajmera Manhattan posted sales of Rs 100 crore in a single month. “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 per cent YoY growth, was diversified across projects,” it added.
Meanwhile, during FY24, Ajmera Realty 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 million sqft with a GDV of Rs 3,130 crore. The real estate developer recorded a significant upsurge, complemented by the launch of two projects valued at Rs 500 crore GDV in the central belt of MMR.
The company said that it achieved the milestone of delivering around 1,000 possessions across three projects within a span of 24 hours. Additionally, a recent structured deal for its Ajmera Manhattan project facilitated a partial prepayment of the GCP loan of Rs 200 crore.
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, totaling Rs 1,017 crore, in alignment with our stated guidance. The company’s relentless efforts have yielded remarkable results across aggressive acquisitions, business development endeavors, 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.”