Ajmera Realty & Infra India Ltd · NSE:AJMERA
Ajmera Realty & Infra India — Q1 FY24 Earnings Presentation
50 slides from Ajmera Realty & Infra India's earnings presentation, Jul 25, 2023
Slide 1: Cover letter to stock exchanges
Ref: SEC/ARIIL/BSE-NSE/2023-24 Date: July 25, 2023 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 Su
Slide 2: Investor Presentation Q1 FY24
FY 2024 Ajmera Realty & Infra India Limited INVESTOR PRESENTATION Q1 FY24 www.ajmera.com
Slide 3: Disclaimer
Q1 FY24 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: Performance & Operations Business Updates
Q1 FY24 FY 2024 PERFORMANCE & OPERATIONS BUSINESS UPDATES
Slide 5: Key Business Highlights – Q1 FY24
Q1 FY24 Key Business Highlights – Q1 FY24 1,35,460 Sq.ft. ~INR 118 Cr Sales Volume Total Revenue 113% YoY Increase 96% QoQ Increase ~INR 225 Cr ~INR 21 Cr Sales Value 18% PAT Margin 60% QoQ Increase 82% YoY Increase ~INR 111 Cr ~INR 27 Cr Collections Bangalore Collections 8% QoQ Increase ~24% contri
Slide 6: Financial Highlights – Q1 FY24
Q1 FY24 Financial Highlights – Q1 FY24 EBITDA (INR Cr) & TOTAL REVENUE (INR Cr) EBITDA MARGIN (%) Financial Performance 118 118 39 35 113% YoY increase in Total Revenue 55 18 29% 33% 112% YoY increase in EBIDTA 33% 88% YoY increase in PBT Q1 FY23^ Q4 FY23 Q1 FY24 Q1 FY23 Q4 FY23 Q1 FY24 82% YoY incr
Slide 7: Operational Highlights – Q1 FY24
Q1 FY24 Operational Highlights – Q1 FY24 SALES VALUE (INR Cr) SALES VOLUME (Sq.ft.) Operational Performance 400 1,57,438 1,35,460 96% QoQ increase in Sales Volume 225 69,209 140 60% QoQ increase in Sales Value 8% QoQ increase in Collection Q1 FY23 Q4 FY23 Q1 FY24 Q1 FY23 Q4 FY23 Q1 FY24 68% QoQ incr
Slide 8: Annual Trends – Last 3 Years
Q1 FY24 Annual Trends – Last 3 Years SALES VALUE (INR Cr) COLLECTIONS (INR Cr) SALES VOLUME (Sq.ft.) 842 532 520 3,70,219 3,39,452 617 394 2,46,289 431 FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 EBITDA (INR Cr) & PAT (INR Cr) TOTAL REVENUE (INR Cr) EBITDA MARGIN (%) & PAT MARGIN (%) 489 134 72 441
Slide 9: Continued De-leveraging & Improving Debt Profile
Q1 FY24 Continued De-leveraging & Improving Debt Profile SECURED DEBT (INR Cr) & DEBT TO EQUITY RATIO Seized one-time savings opportunity under 50% concession approval costs by paying INR 209 Cr before Dec 31, 2021. Breakthrough achieved – Sub 1x 830 826 776 771 688 1.17 1.11 1.00 1.11 0.97 Sep-21 M
Slide 10: Continued De-leveraging & Improving Debt Profile
Q1 FY24 Continued De-leveraging & Improving Debt Profile AVG COST OF DEBT & REPO RATE Reduced Avg. Cost of Debt to 11.9% as compared to 13.7% as on 31st March 2023, through financial performance & credit profile improvements 12.60% 11.90% 13.70% 11.20% 11.20% 6.50% 6.50% 5.90% 4.00% 4.00% Sep-21 Mar
Slide 11: Project Sales & Collections – Q1 FY24
Q1 FY24 Project Sales & Collections – Q1 FY24 Sales Volume Sales Value Units Collections Project Location (Sq.ft.) (INR Cr) (Nos) (INR Cr) Operational Highlights Aeon, Zeon, Treon Mumbai 582 2 2 15 Manhattan Mumbai 27,815 84 31 21 53%+ sales value contribution from Bangalore & Ajmera Eden projects S
Slide 12: Portfolio & Industry Update
Q1 FY24 FY 2024 PORTFOLIO & INDUSTRY UPDATE
Slide 13: Micro Market Presence
Q1 FY24 Micro Market Presence Completed Destinations Under Development Destinations Future Launches - FY24 Ajmera Lugaano Yelahanka Future Development Potential Ajmera Florenza Ajmera Prive Ajmera Juhu Sikova Ghatkopar Ajmera Eden Wadala Ajmera Manhattan Ajmera Electronic City Nucleus Ajmera Greenfi
Slide 14: Wadala – Product Offerings
Q1 FY24 Wadala – Product Offerings Across Mid Market and Compact Luxury AEON, ZEON, TREON READY TO MOVE IN GREENFINITY MID MARKET MANHATTAN COMPACT LUXURY 13
Slide 15: Ajmera Manhattan
Q1 FY24 Compact Luxury Project Ajmera Manhattan 656 Cr 222 Cr of Total Sales Booked of Revenue Recognised ~45% 2,71,824 Sq.ft. of Inventory Sold Unsold Inventory Tower B has been constructed to June’27 Ground Level Estimated project timelines as per RERA 14
Slide 16: Ajmera Manhattan – Current Construction Status
Q1 FY24 Current Construction Status Ajmera Manhattan Overall Tower A & B View Tower A B-2 Slab Decking WIP 15
Slide 17: Ajmera Greenfinity
Q1 FY24 Mid Market Project Ajmera Greenfinity 161 Cr 153 Cr of Total Sales Booked of Revenue Recognised ~84% 11,367 Sq.ft. of Inventory Sold Unsold Inventory Completion June’25 estimated Estimated project timelines by Q2 FY24 as per RERA 16
Slide 18: Ajmera Greenfinity – Current Construction Status
Q1 FY24 Current Construction Status Ajmera Greenfinity Elevation Texture Painting WIP 17
Slide 19: Ajmera Sikova
Q1 FY24 Boutique Commercial Project Ajmera Sikova 218 Cr 191 Cr of Total Sales Booked of Revenue Recognised ~89% 13,789 Sq.ft. of Inventory Sold Unsold Inventory Completion Dec’24 estimated Estimated project timelines by Q2 FY24 as per RERA 18
Slide 20: Ajmera Sikova – Current Construction Status
Q1 FY24 Current Construction Status Ajmera Sikova Elevation Tower Parking 19
Slide 21: Ajmera Prive
Q1 FY24 Premium Residences in upscale Juhu Ajmera Prive 35 Cr ~24% of total sales booked of Inventory Sold 23,206 Sq.ft. Unlevered project Unsold Inventory Self funded through sales Redevelopment project Jun’26 Estimated project timelines Embarking a new locale as per RERA with asset light model UNI
Slide 22: Ajmera Prive – Current Construction Status
Q1 FY24 Current Construction Status Ajmera Prive 2nd Floor Slab Casted Reinforcement Work for 3rd Floor Slab 21
Slide 23: Ajmera Eden
Q1 FY24 Premium Residences in Ghatkopar Ajmera Eden 36 Cr ~14% of Total Sales Booked of Inventory Sold on launch in June’23 82,233 Sq.ft. Approvals Received: Unsold Inventory MHADA NOC, IOD, CC & RERA 2, 3 & 4 BHK Jan’27 Estimated project timelines Premium Residences as per RERA UNITS SIZE 2 BHK 753
Slide 24: Ajmera Eden – Current Construction Status
Q1 FY24 Current Construction Status Ajmera Eden Column Work - Open Footing WIP Raft Reinforcement WIP 23
Slide 25: Ajmera Nucleus
Q1 FY24 Mid Market Project Ajmera Nucleus 93 Cr 62 Cr of total sales booked of Revenue Recognised ~96% 4,353 Sq.ft. of Inventory Sold Unsold Inventory OC Received Dec’23 for Residential AB & Commercial Estimated project timelines as per RERA 24
Slide 26: Ajmera Nucleus – Current Construction Status
Q1 FY24 Current Construction Status Ajmera Nucleus Nucleus Residential (AB Wing) Nucleus Commercial 25
Slide 27: Ajmera Lugaano & Florenza
Q1 FY24 Affordable Project Ajmera Lugaano & Florenza 119 Cr ~47% of total sales booked of Inventory Sold 1,46,284 Sq.ft. 31% of Total Sales Unsold Inventory Value during Q1 FY24 Multiplier effect: Lugaano – Sep’26 Revamped Sales strategy Florenza – Sep’25 implementation Estimated project timelines a
Slide 28: Ajmera Lugaano & Florenza – Current Construction Status
Q1 FY24 Current Construction Status Ajmera Lugaano & Florenza Tower AB - North View Tower A - 8th Floor Slab WIP 27
Slide 29: Project Portfolio
Q1 FY24 Project Portfolio Revenue Revenue Estimated Value Total Carpet Carpet Area Carpet Area Project Ownership Recognised Unrecognised Of Unsold Area Project Status Area (Sq.ft.) Sold (Sq.ft.) Unsold (Sq.ft.) (INR Cr) (INR Cr) (INR Cr) Nucleus 70% 98,950 - - - 98,950 105 OC Received Commercial Sik
Slide 30: Potential launches – FY 24
Q1 FY24 Potential launches – FY 24 Estimated Estimated Estimated Estimated Project Location Project Type Ownership % Launch Completion Revenue Carpet Area (Month, Year) (Month, Year) (INR Cr) (Sq.ft.) Central Mumbai 2 Mumbai Residential 85% Dec 23 Jun 27 444 2,61,335 Central Mumbai 1 Mumbai Mix use
Slide 31: Development potential – Owned land bank
Q1 FY24 Development potential – Owned lank bank Estimated Carpet Type of Location Area ARIIL Stake Development Plan Development (in lakh Sq.ft.) Wadala Residential ~18 100% Phase-wise launch within 4-6 years Commercial ~18.5 100% Expected to be a lease model Kanjurmarg Residential ~61 100% Township
Slide 32: Our portfolio
Q1 FY24 Our portfolio ~20 Mn ~1.2 Mn ~0.9 Mn ~11.6 Mn ~13.9 Mn Sq.ft. Sq.ft. Sq.ft. Sq.ft. Sq.ft. Completed Existing FY24 Future Total Projects Portfolio Launches Potential Portfolio 45,000+ 8 Ongoing Projects 3 projects expected Owned & fully paid Units delivered Mumbai & Bangalore in Mumbai land b
Slide 33: Revenue Recognition – Strong Revenue Visibility
Q1 FY24 FY 2024 REVENUE RECOGNITION STRONG REVENUE VISIBILITY Making Strides
Slide 34: OC Received & Advance Stage Projects
Q1 FY24 Revenue Visibility OC Received & Advance Stage Projects Completion Total Carpet Sales Book as on Revenue Balance Revenue Unsold Estimated Revenue Projects as on Area Sold 30 Jun2023 Recognised Recognition Carpet Area Sale value Potential 30 Jun 2023 (Sq.ft.) (INR Cr) (INR Cr) (INR Cr) (Sq.ft
Slide 35: Mid Stage Projects
Q1 FY24 Revenue Visibility Mid Stage Projects Completion Total Carpet Sales Book as on Revenue Balance Revenue Unsold Estimated Revenue Projects as on Area Sold 30 Jun2023 Recognised Recognition Carpet Area Sale value Potential 30 Jun 2023 (Sq.ft.) (INR Cr) (INR Cr) (INR Cr) (Sq.ft.) (INR Cr) (INR C
Slide 36: Revenue Visibility – Total Revenue Potential
Q1 FY24 Revenue Visibility OC Received & Mid Stage Projects Advance Stage Projects (Sikova, Greenfinity & Nucleus ) (Manhattan, Lugaano, Florenza, Prive & Eden) INR 66 Cr INR 167 Cr INR 623 Cr INR 1,305 Cr Revenue to be recognized from Sales revenue from unsold Revenue to be recognized from Sales re
Slide 37: 5X Road Map – Strategy
Q1 FY24 5X ROAD MAP – Strategy Organic Growth Inorganic Growth Strategic Locational Robust & Responsible Strategy Strategy Advantage & Diverse Execution efficiency Offerings • Unlocking potential of fully • Expanding aggressively in • Properties and land banks with • Operational excellence through o
Slide 38: Implementing 5x Strategy
Q1 FY24 Implementing 5x Strategy Unsold ~1,000 cr Inventory + Phased 842 cr development of land bank + JV/JD/DA 431 cr Acquisitions INR 225 crore Q1 FY24 FY22 FY23 FY24E LIFECYCLE OF PROJECTS Sales Value (INR Crore) 37
Slide 39: ESG
Q1 FY24 FY 2024 ESG ENVIRONMENT | SOCIAL | GOVERNANCE Making Strides
Slide 40: ESG – Environmental Initiatives
Q1 Q4 FY24 FY23 ESG – Environmental Initiatives Energy Management Waste Management • Efficient Lighting fixtures: Installed across projects to • Recycle: Nonbiodegradable waste (plastic, glass, paper) reduce building energy consumption. given to local recyclers for recycling. • HVAC System: Installe
Slide 41: ESG – Social Initiatives
Q1 FY24 ESG – Social Initiatives Mumbai Mobile Creches Facility at Wadala Site Financial Assistance to under privileged Women Empowerment Education Sponsorship to towards healthcare viz. Angioplasty and Company follows gender diversity Women's through CRED-MCHI Bypass surgery via Smt. Sushilaben R.
Slide 42: ESG – Governance
Q1 FY24 ESG – Governance Some of our Policies for Strong Governance Practices Effective governance • Code of Insider Trading Policy Board consists of professionals from diverse fields • Policy on Preservation of Documents • Archival Policy SEBI Compliant, Regular and • Dividend Distribution Policy t
Slide 43: Governance – Esteemed Board Of Directors
Q1 FY24 Governance – Esteemed Board Of Directors Rajnikant S. Ajmera A. C. Patel Chairman & MD Independent Director • Aged 70, is the pillar and guiding force behind the • Aged 79, is a Metallurgical Engineer from IISC, Bengaluru growth of Ajmera Group. (batch of 1969). • Served as President of CRED
Slide 44: Governance – Leadership Group
Q1 FY24 Governance – Leadership Group Dhaval Ajmera Nitin Bavisi Shweta Rathor Suresh Rawat Director CFO GM Human VP Projects 21+ years of experience 28+ years of experience Resources 21+ years of experience 28+ years of experience Shekar Dhumal Sunil Shah Dhimant Choksi Bhavesh Joshi Naveen Kumar A
Slide 45: Project Pioneers – Our Stellar Team Members
Q1 FY24 Project Pioneers – Our Stellar Team Members Lugaano & Florenza Ajmera Eden Ajmera Eden Robust Sales growth through Sales velocity of 14% on launch, Complexities in approvals resolved implementation of revamped sales through combined efforts of team through team efforts of our liaising and st
Slide 46: Shareholding & Price Movement
Q1 FY24 Shareholding & Price Movement Shareholder Information as SHARE PRICE PERFORMANCE on 30th Jun 2023 BSE Ticker 513349 NSE Symbol AJMERA 214% Market Cap* (in INR Cr) 1,325 Promoter holding % 69.73% % Free-Float 30.27% 55% Free-Float Market Cap* (in INR Cr) 305 29% Shares Outstanding (in Cr) 3.5
Slide 47: Financial Results Summary
Q1 FY24 FY 2024 FINANCIAL RESULTS SUMMARY
Slide 48: Consolidated Financial Summary – Q1 FY24
Q1 FY24 Consolidated Financial Summary – Q1 FY24 Profit & Loss Statement Particulars Q1 FY24 Q1 FY23^ YoY Q4 FY23 QoQ FY23 FY22 YoY (INR Cr ) Revenue From Operations 116.0 52.3 122% 114.3 2% 431.3 482.7 (11%) Other Income 1.5 2.8 (46%) 3.6 (57%) 9.5 6.4 48% Total Income 117.6 55.1 113% 117.8 (0.2%)
Slide 49: Cash Flow Statement – Q1 FY24
Q1 FY24 Cash Flow Statement – Q1 FY24 Particulars (INR crore) Q1 FY24 Particulars (INR crore) Q1 FY24 (A) Operating Inflows 110.9 (E) Net Investing Cashflow (5.5) Collection 110.9 Land Acquisition (7.6) (B) Operating Outflows (96.5) Other Income 2.2 Construction Cost (62.3) (F) Net Financing Cashflo
Slide 50: Thank You
THANK YOU Ajmera Realty & Infra India Limited Contact Info: E-mail: ir@ajmera.com Registered Office: Ajmera Realty & Infra India Ltd , 2nd Floor, Citi Mall, Andheri Link Road, Andheri (West), Mumbai - 400053 Phone: 022 - 6698 4000 Presentation Design by Chimpzlab CIN No.: L27104MH1985PLC035659 Websi
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