ARIIL achieves best-ever sales performance with 93% YoY growth, reaching Rs. 834 Crores in FY23
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Mumbai: Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA), a leading real estate company with a pan India presence, announced its operational numbers for Q4 FY23 & FY23.
ARIIL clocks sales value of Rs. 834 crores and collection of Rs. 532 crores for FY23 with a growth of 93% and 35% respectively as compared to FY22
Ajmera Realty & Infra India Limited (ARIIL) recorded a sales value of INR 140 crores in Q4 FY23, the quarter registered an increase of 10% as compared to the Rs. 128 crores in Q3 FY23. The carpet area sold by ARIIL was 69,209 Sq.ft. in Q4 FY23 which was an incremental growth of 9% from the 63,595 Sq. ft in Q3 FY23. Robust sales and a good construction pace have resulted in firm growth of 35% YoY in collections for FY23. The Company firmly believes that its strong cash generation will pave the way for business development prospects and debt deleveraging, thereby enhancing growth visibility.
Commenting on the Company’s operational performance for Q4 and FY23, Mr. Dhaval Ajmera, Director, ARIIL, said, "We are pleased to report the steady and strong performance of the company, with sales of Rs. 140 crores in Q4 and Rs. 834 crores in FY23. Our FY23 performance, surpassing the peak sales of the COVID period, shows the sustained housing upcycle driven by strong affordability, job creation, and income growth.
Looking ahead, we are excited to double our launch pipeline in FY24, with the aim of garnering Rs. 2000 crores of estimated gross sales towards this effort. In addition, we are currently in active discussions towards the JV/JD/DA low capex acquisitions, which will further strengthen our pipeline. Having already launched half a million sq.ft. last year, we are optimistic about our growth prospects. We have demonstrated exceptional execution capabilities in projects such as Greenfinity and Sikova, and we remain committed to prioritizing timely delivery and ensuring customer satisfaction.
Leveraging our brand and expertise, we are poised to take on new business developments and upcoming launches while also focusing on debt deleveraging with strong cash flow. We expect this strategy to increase our market share and drive improved earnings in the quarters ahead, further bolstering our confidence in the future of the company.”
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