Ajmera Realty and Infra India Ltd. targets sales value realization of INR 5000 crores in the next three-five years
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Ajmera Realty & Infra India Ltd.today announced its plans to launch six projects during the FY 2023 & FY 2024 itself, which has a revenue potential of ~INR 4,000 Cr. The Mumbai-based listed realty developer has estimated to clock in sales worth ~INR 5,000 crores in the next 3-5 years from its future launches as well as its existing projects. The funding for all these new projects to launch will be via a mix of internal accruals, bank funding and sales advances.
Cumulative saleable area of 2.7 mnsqft (approx)
The developer will be launching 5 new projects in Mumbai and 1 new project in Pune. Among the upcoming projects in Mumbai, 4 will be residential and 1 will be a mix use category. In Pune, it will be residential category.
The projects will be developed on the land parcels owned by the company, the cumulative estimated saleable area of the upcoming projects will be around ~2.7 mnsq ft. Mumbai projects will constitute around ~2.4 mn sq. ft. and the remaining saleable area will be from Pune’s upcoming project.ARIIL plans to move towards inorganic growth, through low capex acquisition in the form of JV / JDA / DA Model in future
Estimated sales value realization of ~INR 1000 crores from existing projects
Ajmera Realty & Infra India Ltd. expect to accrue revenue of ~INR 1,000 crores from its existing projects in Mumbai and Bengaluru. Over INR 144 Cr is expected to be realized in the next 3 months from the advance stage projects. The mid-stage projects are estimated to constitute INR 727 crores over the next 3 years. Estimated sale value of ~INR 100+ Cr from Nucleus Bangalore- Commercial Project of 1.28 lakh sq. ft, wh
Speaking on the announcement, Mr. Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd said, “As Indian economy emerge from the disruption caused by the pandemic, the consumption led economy will take center-stage in the country. The real estate sector has shown resilience that is evident from the monthly sales data of the key cities. Today, ownership of a residential unit in a well-maintained society with modern amenities is considered a basic need. Ajmera Group will focus on fulfilling this dream of end consumers in the resident as well as commercial space. The commissioning of the upcoming transit infrastructure across Mumbai and MMR provides new opportunities. The group will make efforts to achieve a sustained growth momentum with optimum operational efficiency.”
According to Knight Frank’s The Wealth Report 2022, 29% wealth of Indian ultra-high-net-worth individuals(UHNWIs, with a net worth of US$ 30 mn and above)is allocated towards purchase of principal and second homes. 10% of Indian UHNWIs plan to buy a new home in 2022.
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