This real estate stock engaged in real estate development, focusing on luxury and mid-luxury residential projects, has secured a redevelopment acquisition for Ascot Co-operative Housing Society in Shastri Nagar, Andheri West, Mumbai
Stock Price Movement:
With a market capitalization of Rs 3,084 crore on Monday, the shares of Ajmera Realty & Infra India Ltd were currently trading at Rs 785 per equity share, trading above 0.2 percent from its previous day’s close price of Rs 783.10.
What Happened:
Ajmera Realty & Infra India Limited (Ajmera Realty) has announced its appointment to redevelop the Ascot Co-operative Housing Society in Shastri Nagar, Andheri West, Mumbai. The project spans 2,319 sq. meters and will be developed in a single phase, reinforcing Ajmera’s strong brand presence.
The redevelopment is expected to generate an estimated sales revenue of Rs 320 crores, with a total carpet area of approximately 71,300 sq. ft. This move aligns with Ajmera Realty’s asset-light acquisition strategy and focus on redevelopment projects, helping the company expand its portfolio in Mumbai’s growing micro-markets. With this addition, Ajmera Realty has now added four new projects with a total gross development value (GDV) of Rs 2,770 crores, advancing towards its fiscal targets.
The Andheri West project is part of Ajmera Group’s legacy developments, benefiting from excellent connectivity and access to social, educational, healthcare, and commercial amenities. The area has strong metro connectivity and proximity to retail and business hubs, making it a prime residential neighborhood in Mumbai’s suburban micro-market.
Commenting on the project, Mr. Dhaval Ajmera, Director of Ajmera Realty, stated that the redevelopment aligns with the company’s commitment to revitalizing high-potential micro-markets through redevelopment, JV/JDA models, and asset-light acquisitions.
With increasing demand for modern urban living, the company aims to create sustainable, quality-focused residential spaces that enhance lifestyle and long-term value appreciation. Ajmera Realty continues to expand its redevelopment footprint across the Mumbai Metropolitan Region (MMR) while strengthening its presence in diverse micromarkets.
Financials:
In Q3 FY25, Ajmera Realty reported a consolidated revenue of Rs 199 crores, reflecting a strong operational performance. The company’s EBITDA stood at Rs 69 crore, marking an 11 percent year-on-year (YoY) growth, with an EBITDA margin of 35 percent. Net profit after tax (PAT) for the quarter was Rs 33 crores, also up 11 percent YoY, with a PAT margin of 17 percent.
The company saw a significant 59 percent YoY increase in sales area, reaching 165,000+ sq. ft., while the sales value grew 7 percent YoY to Rs 270 crores. Additionally, collections improved by 10 percent YoY, reaching Rs 167 crores, supported by strong sales momentum and accelerated project execution.
Order Book:
Ajmera Realty’s order book remains robust, with a revenue visibility of over Rs 6,000 crores, driven by its ongoing and upcoming projects. The company has a launch pipeline of six projects over the next two quarters, contributing an estimated gross development value (GDV) of Rs 4,300 crores. With the Occupancy Certificate (OC) received for key projects, the expected net cash flow (pre-tax, post-debt) from OC-received and ongoing projects stands at Rs 714 crores, further strengthening the company’s financial position.
About the Company:
Incorporated in 1985, Ajmera Realty & Infra India Limited is engaged in real estate development, focusing on luxury and mid-luxury residential projects. The company operates across Mumbai and Bengaluru, with significant development potential in Ajmera I-Land, Bhakti Park, Wadala, and Central Mumbai. It is involved in both new developments and redevelopment projects, following an asset-light acquisition strategy.
Written by Shashi Kumar
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