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Ajmera Realty Secures CRISIL A-/Stable Rating, Projects Strong Growth

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Synopsis:

Ajmera Realty received a CRISIL A-/Stable rating, reflecting its strong project pipeline and cash flows. The company plans seven new projects with a GDV of ₹4,270 crore. Ajmera Realty share price surged 91.41% in 2024, closing at ₹700.

Ajmera Realty News Today

Ajmera Realty & Infra India Limited has been awarded a CRISIL A-/Stable rating, signifying the company’s financial stability and promising growth outlook. This rating reflects Ajmera Realty's strong project pipeline, positive sales momentum, and strong cash flows, positioning the company well for future growth.

Current Projects and Sales Progress

Ajmera Realty is currently managing seven active projects, encompassing approximately 11.31 lakh square feet of saleable area. Five of these projects are over 60% complete, contributing to an overall project completion rate of around 51%.

As of March 2024, the company has successfully sold 67% of the total saleable area, indicating strong demand and sales performance.

Future Pipeline and Land Bank

Looking ahead, Ajmera Realty is gearing up for seven new projects with a total carpet area of 1.7 million square feet. These upcoming projects boast a Gross Development Value (GDV) of ₹4,270 crore, showcasing the company's ambitious expansion plans. The approval process for these projects is already underway.

In addition to its current projects, Ajmera Realty holds a substantial land bank of 11.1 million square feet, providing a solid foundation for future development. The company’s recent acquisition of land in Vikhroli, Mumbai, from Tata Communications, for which a stamp duty of ₹4.5 crore was paid, adds to this potential.

Strong Financial Outlook

The company's strong financial position is reinforced by its ongoing sales momentum, which is expected to generate strong cash flows to support continuous construction and project completion.

Dhaval Ajmera, Director of Ajmera Realty, expressed confidence in the company's growth trajectory, citing the strong pipeline and strong pre-sales bookings as key drivers of future performance.

Ajmera Realty Share Price Performance

Ajmera Realty's stock has performed exceptionally well in 2024, offering a return of 91.41% year-to-date, nearly doubling investors' money. On Friday, the Ajmera Realty share price closed at ₹700, marking a gain of ₹19.10 or 2.81%.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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