According to isfm.co, The Indian real estate sector, encompassing residential and commercial projects, is poised for significant growth. The residential market saw home sales reach ₹3.47 lakh crore (USD 42 billion) in FY23, a 48% increase year-on-year. Meanwhile, the commercial
sector is projected to grow from USD 40.71 billion in 2024 to USD 106.05 billion by 2029, driven by urbanization and infrastructure development.
With a market capitalization of Rs 3,772.57 crore, the shares of Ajmera Realty & Infra India Ltd closed at Rs 901.5 per share, fell around 5.75 percent as compared to the previous closing price of Rs 958.50 apiece. The has a high Piotroski score of eight.
Matter Explanation
As of December 2024, a prominent investor Mukul Mahavir Agrawal made fresh investments for 7,59,493 equity shares which is equivalent to 1.93 percent of the company.
Performance Highlights
Ajmera achieved ₹560 crores in sales during H1 FY25, driven by high-demand projects like Ajmera Manhattan, Ajmera Prive, and Ajmera Vihara. Ajmera Manhattan has sold 85% of its units, while Ajmera Greenfinity’s next phase has sold 59% of its inventory, with construction underway.
Ajmera Eden in Ghatkopar is nearing completion with 69% of inventory sold. Ajmera Prive in Juhu has completed structural work, with 69% of units sold. New launch Ajmera Vihara at Bhandup has sold 49% of inventory, while affordable projects in Bangalore, Lugano, and Florenza have sold 90%.
Strategic Developments
Ajmera successfully completed a ₹225 crore preferential allotment to strategic investors for debt reduction and growth. With ongoing projects contributing ₹1,780 crores in revenue visibility and a pipeline adding ₹4,270 crores, the total revenue visibility now stands at ₹6,050 crores.
Partnership
Ajmera has partnered with Motilal Oswal on a project involving land acquired from Tata Communications in Vikhroli. The development covers approximately 300,000 square feet of saleable area, with an expected top line of around ₹650 crores.
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Upcoming Projects and Launches
Ajmera’s Kanjurmarg project is awaiting approvals, with a launch expected by March 2025. The Wadala project, focused on commercial development, is also in planning and set for a similar timeline. The company is exploring partnerships to enhance the value of its commercial projects.
Market Position and Future Outlook
Ajmera’s management is confident in achieving its strategic vision, with potential launches valued at ₹4,270 crores in GDV. The company plans to leverage technology for enhanced sales and customer engagement, optimistic about the macroeconomic environment and its ability to capitalize on market momentum.
Company snapshot
Ajmera Realty and Infra Limited (ARIIL) is in the business of providing residential and rented commercial properties. The company has a presence in cities like Mumbai, Bengaluru, and Ahmedabad in India as well as in foreign countries such as Bahrain and the UK.
Written by Abhishek Singh
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