Ajmera Realty & Infra India Ltd · NSE:AJMERA
Ajmera Realty & Infra India — Q1 FY2025 Earnings Presentation
37 slides from Ajmera Realty & Infra India's earnings presentation, Aug 8, 2024
Slide 1: Exchange intimation letter for investor presentation
Ref: SEC/ARIIL/BSE-NSE/2024-25 Date: August 08, 2024 The Bombay Stock Exchange Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers 5th Floor, Exchange Plaza, Dalal Street Bandra Kurla Complex Bandra (East) Mumbai – 400 001 Mumbai-400051 Script Code: 513349 Script Code: AJMERA
Slide 2: Earnings Presentation Q1 FY25
Q1 FY 2025 Ajmera Realty & Infra India Limited EARNINGS PRESENTATION Q1 FY25 www.ajmera.com
Slide 3: Disclaimer
Q1 FY25 Disclaimer The information in this presentation contains certain the ability to implement our growth, expansion plans & forward-looking statements. These include statements strategy; fluctuations in currency exchange rates; regarding the intent, plans, objectives, goals, strategies, changes
Slide 4: Company Snapshot
Q1 FY25 Company Snapshot 55+ 20+ MSF 46,000+ years of legacy in Real of township & Pincode Estate Sector creators homes delivered 1.1 MSF 1.7 MSF 11.1 MSF of ongoing development of projects in pipeline of future development for development of land bank INR 306 Cr INR 33 Cr 0.8x Debt-to-Equity as Sal
Slide 5: Performance & Operations Business Updates
FY 2025 PERFORMANCE & OPERATIONS BUSINESS UPDATES
Slide 6: Key Business Highlights
Q1 FY25 Key Business Highlights 1,30,801 Sq.ft. INR 196 Cr Sales Volume Total Revenue (3%) YoY Increase 67% YoY Increase INR 306 Cr INR 67 Cr Sales Value EBITDA 36% YoY Increase 72% YoY Increase INR 165 Cr INR 33 Cr Collections Profit After Tax 49% YoY Increase 52% YoY Increase Ajmera Vihara at Bhan
Slide 7: Project Sales & Collections
Q1 FY25 Project Sales & Collections Units Project Location Sales Volume (Sq.ft.) Sales Value (INR Cr) Collections (INR Cr) (Nos) Aeon, Zeon, Treon Mumbai 291 1 1 0 Manhattan Mumbai 21,693 75 22 76 Sikova Mumbai 2,622 7 8 2 Greenfinity – CD Mumbai 4,464 12 10 12 92% of Sales Value Prive Mumbai 6,770
Slide 8: Financial Highlights
Q1 FY25 Financial Highlights Total Revenue (INR Cr) EBIITDA (INR Cr) & EBITDA Margin (%) Financial Performance 234 69 67 196 67% YoY increase in Total Revenue 39 118 33% 29% 34% 72% YoY increase in EBITDA 47% YoY increase in PBT Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q4 FY24 Q1 FY25 PBT (INR Cr) & PBT Marg
Slide 9: Operational Highlights
Q1 FY25 Operational Highlights Sales Volume (sq. ft) Sales Value (INR Cr) Operational Performance 1,35,460 306 1,13,271 1,30,801 287 36% YoY increase in Sales Value 225 49% YoY increase in Collection 68% YoY increase in Units Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q4 FY24 Q1 FY25 Ajmera Vihara at Bhandup h
Slide 10: Annual Trends - Last 3 years and YTD
Q1 FY25 Annual Trends - Last 3 years and YTD Sales Value (INR Cr) Collection (INR Cr) Sales Volume (sq. ft) 1,017 570 4,73,091 532 842 3,70,219 394 2,46,289 431 306 165 1,30,801 FY22 FY23 FY24 Q1 FY25 FY22 FY23 FY24 Q1 FY25 FY22 FY23 FY24 Q1 FY25 Total Revenue (INR Cr) EBIITDA (INR Cr) & EBITDA Marg
Slide 11: Continued De-leveraging & Improving Debt Profile
Q1 FY25 Continued De-leveraging & Improving Debt Profile SECURED DEBT & DEBT TO EQUITY RATIO Reduced by 0.1x 2.00 1.17 1.11 1.00 0.97 0.90 0.80 0.00 INR 58 Cr reduced from operating cash flow 830 826 776 786 780 722 259 260 230 246 442 409 571 566 546 540 338 313 Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 J
Slide 12: Continued De-leveraging & Improving Debt Profile
Q1 FY25 Continued De-leveraging & Improving Debt Profile AVG COST OF DEBT & REPO RATE 13.7 12.6 12.1 11.98 11.64 11.2 5.90% 6.50% 6.50% 6.50% 6.50% 4.00% Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 Jun-24 Avg. Cost of Debt (%) Repo Rate (%) 11
Slide 13: Project Pioneers – Achievements during Q1 FY25
Q1 FY25 Project Pioneers – Achievements during Q1 FY25 De-Merger order received from NCLT Demerger of business of development of mix- use project at Wadala (6.5 acres) from ARIIL into RRDVPL which is a wholly owned subsidiary of ARIIL CRISIL issued a credit rating of A- CRISIL, a Credit Rating Agenc
Slide 14: Bhandup Launch – Q1 FY25
Q1 FY25 Bhandup Launch – Q1 FY25 Ajmera Vihara has sold 27% of its total inventory which has contributed to total sales value 13
Slide 15: Portfolio Update & Strategy
FY 2025 PORTFOLIO UPDATE & STRATEGY
Slide 16: Our Portfolio
Q1 FY25 Our Portfolio 20.3 Mn 1.1 Mn 1.7 Mn 11.1 Mn 14 Mn Sq.ft. Sq.ft. Sq.ft. Sq.ft. Sq.ft. Ongoing Future Completed Potential Total Development Projects Portfolio Launches Portfolio Potential 46,000+ 7 ongoing projects 7 projects to be Owned land bank Homes delivered in Mumbai & launched in Mumbai
Slide 17: Micro Market Presence
Q1 FY25 Micro Market Presence Yelahanka Ajmera Prive Ajmera Eden Juhu Bhandup Ghatkopar Ajmera Lugaano & Ajmera Florenza Wadala Ajmera Manhattan Ajmera Vihara Completed Destinations UnderDevelopment Destinations Future Launches Ajmera Greenfinity Future Development Potential MUMBAI METROPOLITAN REGI
Slide 18: OC Received Projects – Revenue Visibility
Q1 FY25 Revenue Visibility OC Received Projects Total Sales Book Balance Unsold Completion Total Carpet Revenue Estimated Revenue as on 30 Jun Revenue Carpet Projects Ownership as on Carpet Area Area Recognised Sale value Potential 2024 Recognition Area (INR Cr) 30 Jun 2024 (Sq.ft.) Sold (INR Cr) (I
Slide 19: Ongoing Projects – Revenue Visibility
Q1 FY25 Revenue Visibility Ongoing Projects Total Sales Book Balance Unsold Completion Total Carpet Revenue Estimated Revenue as on 30 Jun Revenue Carpet Projects Ownership as on Carpet Area Area Recognised Sale value Potential 2024 Recognition Area (INR Cr) 30 Jun 2024 (Sq.ft.) sold (INR Cr) (INR C
Slide 20: Ongoing Project Update
Q1 FY25 Ongoing Project Update Ajmera Manhattan Ajmera Prive Ajmera Eden 80% 60% 61% of Inventory Sold of Inventory Sold of Inventory Sold Tower B : 8th Level RCC Completed, MEP & 10th Floor Slab completed Finishing in progress Completed, June’27 June’26 June’27 Estimated project Estimated project E
Slide 21: Ongoing Project Update
Q1 FY25 Ongoing Project Update Ajmera Greenfinity Ajmera Lugaano & Florenza Ajmera Vihara 19% 76% 27% of Inventory Sold of Inventory Sold of Inventory Sold Luganoo – 16th Floor 1st Level completed Excavation work in completed Florenza – Footing completed Progress. Aug’27 Lugaano – Sep’26 Feb’29 Esti
Slide 22: Potential Launches
Q1 FY25 Potential Launches Estimated Estimated Estimate Estimated Ownership Project Location Launch Completion d GDV Carpet Area (%) (Month, Year) (Month, Year) (INR Cr) (Sq.ft.) Ajmera Iris Bangalore 70% Jun’24 Dec’27 150 2,35,000 Codename Vikhroli Mumbai 100% Sep’24 Mar’28 700 3,25,000 Codename Ce
Slide 23: Revenue Visibility
Q1 FY25 Revenue Visibility OC Received Projects Ongoing Projects (Manhattan, Lugaano, Florenza, Prive, Eden ,Greenfinity AB and (Greenfinity CD & Nucleus ) Bhandup) INR 2 Cr INR 85 Cr INR 1,030 Cr INR 856 Cr Revenue to be recognized from Sales revenue from unsold committed sales Revenue to be recogn
Slide 24: Development potential – Owned Land Bank
Q1 FY25 Development potential – Owned Land Bank Estimated Carpet Type of Location Area ARIIL Stake Development Plan Development (in lakh Sq.ft.) Wadala Residential 13 100% Phase-wise launch within 4-6 years Commercial 18.5 100% Expected to be a lease model Kanjurmarg Residential 61 100% Township dev
Slide 25: Portfolio Expansion: How we are scaling up
Q1 FY25 Portfolio Expansion by outperforming business guidance How we are scaling up Parameter Existing Future SALES VALUE Growing (INR Cr) 1.1 msf 2.8 msf portfolio size Expanding 1.4 msf* 1.7 msf 1,350 Launch Pipeline 1,017 Maximizing 842 INR 941 Cr INR 4,270 Cr Sales Inventory 431 INR 306 crore G
Slide 26: 5X Road Map – Strategy
Q1 FY25 5X ROAD MAP – Strategy Organic Growth Inorganic Growth Strategic Locational Robust & Responsible Strategy Strategy Advantage & Diverse Execution efficiency Offerings • Unlocking potential of owned • Expanding aggressively in • Properties and land banks with • Operational excellence land bank
Slide 27: Financial Results Summary
FY 2025 FINANCIAL RESULTS SUMMARY
Slide 28: Consolidated Financial Summary
Q1 FY25 Consolidated Financial Summary Profit & Loss Statement Particulars (INR Cr ) Q1 FY25 Q1 FY24 YoY Q4 FY24 QoQ FY24 Total Revenue 196.2 117.6 67% 234.1 (16%) 707.8 Total Expenses 119.7 73.2 63% 150.1 (20%) 498.8 EBITDA 66.7 38.7 72% 68.6 (3%) 209.0 EBITDA Margin (%) 34.0% 32.9% 29.3% 29.5% Fin
Slide 29: Cash Flow Statement
Q1 FY25 Cash Flow Statement Particulars (INR Cr) Q1 FY25 FY24 Particulars (INR Cr) Q1 FY25 FY24 (A) Operating Inflows 165.2 570.8 (E) Net Investing Cashflow 5.1 (19.9) Business Development (0) (28.0) Collection 165.2 570.8 Other Income 5.1 8.1 (B) Operating Outflows 117.1 398.3 (F) Net Financing Cas
Slide 30: Cash Flow Potential
Q1 FY25 Cash Flow Potential Parameters Completed Projects Ongoing Projects Total (pre-tax & post-debt) (INR Cr) (INR Cr) (INR Cr) Balance collection from sold units 270 1,193 1,463 Value of unsold inventory 85 856 941 Balance Cost to incur 2 981 983 Project Debt - 571 571 Estimated Net Cash Flow 353
Slide 31: Guidance Vs Actual for FY25E
Q1 FY25 Guidance Vs Actual for FY25E FY24 FY25 Q1 FY25 Sales Value Sales Guidance Sales Value INR 1,017 Cr INR 1,350 Cr INR 306 Cr Launch Pipeline Launch Pipeline Balance Pipeline INR 1,800 Cr INR 4,570 Cr INR 4,270 Cr Debt / Equity Debt / Equity Debt / Equity 0.9x 0.8x 0.8x Guidance Actual 30
Slide 32: ESG
FY 2025 ESG ENVIRONMENT | SOCIAL | GOVERNANCE
Slide 33: ESG Environmental Initiatives
Q1 FY25 ESG Environmental Initiatives Incorporate green Submitted Business Develop carpooling programs buildings standards like Responsibility & Sustainability for workers and residents IGBC Certification Report for FY24. Partnered with waste Use low- emission construction management companies to Pr
Slide 34: ESG Social Initiatives
Q1 FY25 ESG Social Initiatives Visit to Khardi was made to assess the Zila Parishad school for the current year CSR adoption. Donations have been made to support the tribal Banjara Community and provide education up to the 10th grade for children in region. National Skill Development Examination cer
Slide 35: ESG Governance
Q1 FY25 ESG Some of our Policies for Effective Governance Governance • Code of Insider Trading Policy • Policy on Preservation of Documents • Archival Policy Strong Governance Practices • Dividend Distribution Policy • Board diversity policy Board consists of professionals • Directors and Officers I
Slide 36: Shareholding & Price Movement
Q1 FY25 Shareholding & Price Movement Shareholder Information as 200.0% on 30th June 2024 SHARE PRICE PERFORMANCE 180.0% BSE Ticker 513349 176% 160.0% NSE Symbol AJMERA 140.0% Market Cap* (in INR Cr) 2,391 141% 120.0% Promoter holding % 74.2% 100.0% % Free-Float 25.8% 80.0% Free-Float Market Cap* (i
Slide 37: Thank You
THANK YOU Ajmera Realty & Infra India Limited E-mail: ir@ajmera.com Website: www.ajmera.com CIN No.: L27104MH1985PLC035659 Registered Office: Ajmera Realty & Infra India Ltd , 2nd Floor, Citi Mall, Andheri Link Road, Andheri (West), Mumbai - 400053 Phone: 022 - 6698 4000
Ajmera Realty & Infra India — Q1 FY2025 Earnings Presentation on 6ix