Mumbai (Maharashtra) [India], May 26 (ANI/NewsVoir): Ajmera Realty and Infra India Ltd. (BSE: 513349 & NSE: AJMERA) a leading real estate company with PAN India and International presence announced its Q4 FY 21 & FY 21 reporting strong growth numbers.
Value of sales in FY 2021 increased to about 1.8 times to Rs 615 crs. in FY 2021 Vs Rs. 339 crs. in FY 2020
Sales advances in FY 2021 increased to about 1.4 times to Rs 521 crs in FY 2021 Vs Rs. 382 crs. in FY 2020
Units sold increased to about 1.5 times to 380 units in FY 2021 Vs 256 units in FY 2020
Area sold increased to about 1.30 times to 5.09 lakh sft in FY 2021 Vs 4.01 lakh sft. in FY 2020
Total debt reduced by about 27 per cent in FY 2021 to Rs. 745 crs. Vs Rs. 943 crs. in FY 2020
Three projects at Wadala i-Land township nearing completion
Company has proposed dividend Rs. 1.40 per share i.e. 14 per cent for FY 21 on the paid up capital of the Company
For the FY 2021, 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 FY 21:
Revenues at Rs. 352 crs.
EBITDA at Rs. 101 crs.
PBT at Rs. 41 crs.
PAT at Rs. 31 crs.
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 FY 22.
Commenting on the Q4 FY 21 & FY 21 performance, Dhaval Ajmera, Director - Ajmera Realty and 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."
Update on Recent Development
Ajmera Realty and 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.
During the current quarter, the company has contributed Rs. 1.29 crores towards CSR expenses for promoting healthcare, providing medical aid, creating education infrastructure for underprivileged kids and contributing towards setting up of bed facilities, oxygen cylinders and food facilities across COVID Centre located in Mumbai.
The CSR contributions are made through registered Public Trusts.
Ajmera Realty and Infra India Limited (ARIIL) is one of the trusted names having its PAN India presence along with international presence in locations viz. Bahrain and London. The Company has a huge development potential available on its balance land parcel at Ajmera i-Land, Bhakti Park, Wadala. Current projects are at Mumbai: "AEON ","ZEON", and "TREON" along with various projects at Bengaluru: "Ajmera Lugaano" and "Nucleus", Ahmedabad: "Casa Vyoma", "Enigma".
The Company is focused on premium developments in luxury and mid-luxury projects in residential segment. The Group works on Trust and delivers the trusted decisions of buyers. The GenNext of the Group believes in "KEEP EVOLVING" and accordingly the strategies, systems, processes, planning and use of cutting-edge technologies has been resorted to enable the Company to deliver targeted value to all its stakeholders.
Certain statements in this document may be forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements.
Ajmera Realty and Infra India Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
For more details on Ajmera Realty and Infra India Ltd., please visit www.aril.co.in.
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