With the connectivity boost facilitated by the inauguration of Atal Setu, Wadala its flagship micromarket, has experienced a strong surge in demand, significantly contributing to this growth, said the company.
The sales value increased by 13% in Q4 FY24 as against Rs 253 crore posted in Q3 FY23.
The firm's carpet area sales stood at 1,12,931 square feet (sq.ft) in Q4 FY24, registering a growth of 63% year on year (YoY) and 9% quarter on quarter (QoQ).
The company's collection climbed 91% YoY and 30% QoQ to Rs 197crore in Q4 FY24.
Ajmera Manhattan saw a record Rs 100 crore 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, it added.
On full year basis, the company’s carpet area sales jumped 28% YoY to 4,72,751 sq.ft in FY24. Sales value stood at Rs 1,017 crore (up 21% YoY) and collection was at Rs 561 crore (up 6% YoY) during the period under review.
During FY24, the company 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 to1.3 million sq.ft. with a GDV of Rs 3,130 crore, further solidifying its presence in various micro-markets within the Mumbai Metropolitan Region (MMR), the realtor stated.
The firm’s sales momentum across the portfolio witnessed a significant upsurge, complemented by the successful launch of two projects valued at Rs 500 crore GDV in the central belt of MMR, it added.
Further, the real estate developer highlighted its operational excellence through its faster project execution strategy before RERA timelines. The company achieved the remarkable 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, said, “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.”
Ajmera Realty & Infra India has a PAN India presence along with an international presence. The company is focused on premium developments in luxury and mid-luxury projects in the residential segment. The company has a huge development potential available on its balance land parcel at Ajmera I-Land, Bhakti Park, Wadala and Central Mumbai.
The company's consolidated net profit stood at Rs 30.48 crore in Q3 FY24 steeply higher than Rs 10.64 crore recorded in Q3 FY23. Revenue from operations surged to Rs 206.77 crore in Q3 FY24 as compared with Rs 79.07 crore posted in Q3 FY23.
The counter hit a life-time high at Rs 862.75 in today’s intraday session.