Ajmera Realty FY21 net profit at INR 31 crore, down by 7.7%

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Ajmera Realty reduced total debt by about 27% in FY 2021 to INR 745 crore V/s INR 943 crore in FY2020.

Key Highlights:

• Value of sales in FY2021 increased to about 1.8 times to INR 615 crore in FY2021 Vs INR 339 crore in FY2020
• Sales advances in FY2021 increased to about 1.4 times to INR 521 crore in FY2021 Vs INR 382 crore in FY2020
• Units sold increased to about 1.5 times to 380 units in FY2021 Vs 256 units in FY2020
• Area sold increased to about 1.30 times to 5.09 lakh sft in FY2021 Vs 4.01 lakh sft. in FY2020
• Total debt reduced by about 27% in FY 2021 to INR 745 crore Vs INR 943 crore in FY2020
• Three projects at Wadala i-Land township nearing completion
• Company has proposed dividend Rs.1.40 per share i.e.14% for FY21 on the paid up capital of the Company

Ajmera Realty & Infra India Ltd. (BSE: 513349 & NSE: AJMERA) a leading real estate company with PAN India and International presence today announced its Q4FY21 & FY21 reporting strong growth numbers.

For the FY2021, the company has reported substantial growth in value of sales enhancing Company’s liquidity position. The increase is the result of ready to move in homes with OC coupled with stamp duty concession and record low housing loan interest rate. The key regions of Mumbai, Bengaluru and Ahmedabad reported healthy numbers defying the industry challenges faced by the pandemic affected world.

Despite Covid 19 challenges during the entire financial year, Company has been able to achieve similar performance on key financial parameters for FY21:

• Revenues at INR 352 crore
• EBITDA at INR 101 crore
• PBT at INR 41 crore
• PAT at INR 31 crore

Company’s total debt for the FY 2021 has reduced significantly ahead of its repayment schedule due to sales collection on robust sales.

The company’s financial performance when viewed considering the two lockdowns and registering pre-COVID revenue levels with a strong cash flow, stands apart and augers well for an accelerated growth trajectory entering new fiscal FY22.

Commenting on the Q4FY21 & FY21 performance, Dhaval Ajmera, Director, Ajmera Realty & Infra India Limited said “The result highlights robustness of our business model to sustain profitability even at difficult times and scale through unprecedented event such as Covid 19 and subsequent lockdowns. Despite the challenging scenario, we have been able to register growth in sales value and number of units sold during the year. We shall continue our endeavor towards creating value for all stakeholders and initiating measures for the safety of all our employees and their families.”

Ajmera Realty & Infra India Limited (“ARIIL”/”the Company”) has proposed demerger of 6.5 acres of commercial undertaking project at Ajmera i-land, Bhakti Park, Wadala from ARIIL into its wholly owned subsidiary viz. Radha Raman Dev Ventures Private Limited (“RRDVPL”/”the subsidiary Company”). The said proposal is pending for NCLT approval. Resulting, the Commercial undertaking project shall be identifiable for attracting prospective investor/strategic partners to participate in the project.