Ajmera Realty & Infra India Ltd · NSE:AJMERA
Ajmera Realty & Infra India — Q4 FY23 Earnings Presentation
41 slides from Ajmera Realty & Infra India's earnings presentation, May 11, 2023
Slide 1: Exchange filing cover letter
Ref: SEC/ARIIL/BSE‐NSE/2023‐24 Date: May 11, 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 S
Slide 2: Investor Presentation Q4 FY23
FY 2023 Ajmera Realty & Infra India Limited INVESTOR PRESENTATION Q4 FY23 www.ajmera.com
Slide 3: Disclaimer
Q4 FY23 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
Q4 FY23 FY 2023 PERFORMANCE & OPERATIONS BUSINESS UPDATES Making Strides
Slide 5: Key Business Highlights – FY23
Q4 FY23 Key Business Highlights – FY23 ~INR 842 Cr ~INR 532 Cr Sales Value Collections 95% YoY Increase 35% YoY Increase ~INR 72 Cr ~INR 54 Cr 16% PAT Margin ~7% Debt Reduction on YoY basis 58% YoY Increase in PAT INR 776 Cr of Debt as on FY23 PAT Margin accelerated by 75% 3,70,219 Sq. ft Codename V
Slide 6: Financial Highlights – FY23
Q4 FY23 Financial Highlights – FY23 TOTAL REVENUE (INR Cr) EBIDTA (INR Cr) & Financial Performance EBIDTA MARGIN (%) 489 134 123 Manhattan qualified for revenue 30% recognition during the year of launch 441 25% 9% YoY increase in EBIDTA FY22 FY23 56% YoY increase in PBT FY22 FY23 PBT (INR Cr) & PAT
Slide 7: Operational Highlights – FY23
Q4 FY23 Operational Highlights – FY23 SALES VALUE (INR Cr) Operational Performance SALES VOLUME (Sq. ft.) 3,70,219 842 50% YoY increase in Sales Volume 2,46,289 431 95% YoY increase in Sales Value 35% YoY increase in Collection FY22 FY23 FY22 FY23 31% YoY increase in Average COLLECTIONS (INR Cr) REA
Slide 8: Financial Highlights – Q4 FY23
Q4 FY23 Financial Highlights – Q4 FY23 EBIDTA (INR Cr) & TOTAL REVENUE (INR Cr) EBIDTA MARGIN (%) Financial Performance 184 43 118 35 46% QoQ increase in Total Revenue 23% 81 23 29% 47% QoQ increase in EBIDTA 29% 26% QoQ increase in PBT Q4 FY22 Q3 FY23 Q4 FY23 Q4 FY22 Q3 FY23 Q4 FY23 42% QoQ increas
Slide 9: Operational Highlights – Q4 FY23
Q4 FY23 Operational Highlights – Q4 FY23 SALES VALUE (INR Cr) VOLUME (Sq.ft.) Operational Performance 68,540 69,209 140 63,595 128 Stable YoY Sales Volume 122 16% YoY increase in Sales Value 11% YoY increase in Collection Q4 FY22 Q3 FY23 Q4 FY23 Q4 FY22 Q3 FY23 Q4 FY23 14% YoY increase in Average CO
Slide 10: Continued De-leveraging & Improving Debt Profile
Q4 FY23 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. 830 826 776 745 688 1.17 1.11 1.11 1.00 1.00 Mar-21 Sep-21 Mar-22 Sep-22 Mar-23 Debt
Slide 11: Continued De-leveraging & Improving Debt Profile
Q4 FY23 Continued De-leveraging & Improving Debt Profile AVG COST OF DEBT & REPO RATE Reduced Avg. Cost of Debt to 11.9% as of 1st April 2023 (from 13.7%) through strategic loan rate revisions 13.70% 12.00% 11.20% 11.20% 12.60% 6.50% 5.90% 4.00% 4.00% 4.00% Mar-21 Sep-21 Mar-22 Sep-22 Mar-23 10
Slide 12: Project Sales & Collections – Q4 & FY23
Q4 FY23 Project Sales & Collections – Q4 & FY23 Q4 FY23 FY23 Carpet Area Sales Value Realisation Collections Carpet Area Sales Value Realisation Collections Project Location Sold (Sq. ft.) (INR Cr) (INR/Sq. ft.) (INR Cr) Sold (Sq. ft.) (INR Cr) (INR/Sq. ft.) (INR Cr) Aeon, Zeon, Treon Mumbai 7,692 1
Slide 13: Portfolio & Industry Update
Q4 FY23 FY 2023 PORTFOLIO & INDUSTRY UPDATE Making Strides
Slide 14: Micro Market Presence
Q4 FY23 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 15: Wadala – Product Offerings
Q4 FY23 Wadala – Product Offerings Across Mid Market and Compact Luxury AEON, ZEON, TREON READY TO MOVE IN GREENFINITY MID MARKET MANHATTAN COMPACT LUXURY 14
Slide 16: Ajmera Manhattan
Q4 FY23 Compact Luxury Project Ajmera Manhattan 572 Cr Single Largest Concrete pouring for OF SALES BOOKED nonstop 30 hours* ~40% INR 169 Cr of Inventory Sold of Revenue Recognised * The foundation work of the Tower A was completed Raft Erection WIP G F Slab Shuttering WIP recently and during the pr
Slide 17: Ajmera Greenfinity
Q4 FY23 Mid Market Project Ajmera Greenfinity 155 Cr Completion OF SALES BOOKED estimated by Q2 FY24 ~80% INR 138 Cr of Inventory Sold of Revenue Recognised * Fast paced construction activity helped achieve completion visibility in just 24 months and gearing Finishing & MEP - WIP completion in Q2 FY
Slide 18: Ajmera Sikova
Q4 FY23 Boutique Commercial Project Ajmera Sikova 209 Cr Completion OF SALES BOOKED estimated inspite Covid-19 by Q2 FY24 ~86% INR 160 Cr of Inventory Sold of Revenue Recognised * Execution capabilities enhanced by nearing to completion of project by Q2 FY24 Finishing & MEP - WIP 17
Slide 19: Ajmera Prive
Q4 FY23 Premium Residences in upscale Juhu Ajmera Prive 33 Cr Unlevered OF SALES BOOKED project Self funded through sales Redevelopment ~23% of Inventory Sold project since Dec’2022 Embarking a new locale with asset light model UNITS SIZE 3 BHK 1,211 Sq. ft. 4 BHK 1,733 / 2,078 Sq. ft. Piling Founda
Slide 20: Ajmera Eden
Q4 FY23 Premium Residences in Ghatkopar Ajmera Eden Approvals 2.15 Cr+ Received: Ticket Size MHADA NOC, IOD, CC & RERA Pre-launched 2, 3 & 4 BHK Sales launch expected Premium Residences during Q1 FY24 UNITS SIZE 2 BHK 753 + Sq. ft. 3 BHK 1,000 + Sq. ft. 4 BHK 1,687 + Sq. ft. Piling Work Completed Ex
Slide 21: Ajmera Nucleus
Q4 FY23 Mid Market Project Ajmera Nucleus 217 Cr OC Received OF RESIDENTIAL for Residential AB & SALES BOOKED Commercial ~90% of Residential INR 194 Cr Inventory Sold of Revenue Recognised Nucleus C - Under Construction 20
Slide 22: Ajmera Lugaano & Florenza
Q4 FY23 Affordable Project Ajmera Lugaano & Florenza Financial closure achieved for full project Execution accelerated Implementation of a revamped sales strategy has resulted in an increase in sales momentum. Shuttering WIP Raft Concrete -WIP 21
Slide 23: Project Portfolio – Current Construction Status
Current Construction Status Project Portfolio Manhattan Greenfinity Sikova Eden Column casting work completed for Tower B Near to Completion Near to Completion Shifting of Rock WIP Prive Nucleus Luganno Florenza Above Ground level External plaster WIP Tower AB South Side View Raft Concrete pouring W
Slide 24: Project Portfolio
Q4 FY23 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) Aeon, Zeon, 100% 951,012 944,914 2,168 - 6,098 14 OC Receiv
Slide 25: Future Launches
Q4 FY23 Future Launches POTENTIAL LAUNCHES IN FY24 Estimated Estimated Estimated Estimated Project Location ProjectType Ownership % Launch Completion Revenue CarpetArea (Month, Year) (Month, Year) (INR Cr) (Sq.ft) Codename Ghatkopar Mumba Residential 100% Pre-Launched Mar 25 250 95,000 Ajmera Eden C
Slide 26: Revenue Recognition – Strong Revenue Visibility
Q4 FY23 FY 2023 REVENUE RECOGNITION STRONG REVENUE VISIBILITY Making Strides
Slide 27: OC Received & Advance Stage Projects
Q4 FY23 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 31 Mar 2023 Recognised Recognition Carpet Area Sale value Potential 31 Mar 2023 (Sq. ft.) (INR Cr) (INR Cr) (INR Cr) (Sq.
Slide 28: Mid Stage Projects
Q4 FY23 Revenue Visibility Mid Stage Projects Completion Total Carpet Sales Book as on Revenue Balance Revenue Unsold Estimated Revenue Projects as on Area Sold 31 Mar 2023 Recognised Recognition Carpet Area Sale value Potential 31 Mar 2023 (Sq. ft.) (INR Cr) (INR Cr) (INR Cr) (Sq. ft.) (INR Cr) (IN
Slide 29: Revenue Visibility – Total Revenue Potential
Q4 FY23 Revenue Visibility OC Received & Mid Stage Projects Advance Stage Projects (Aeon, Zeon, Treon, Sikova, Greenfinity & Nucleus ) (Manhattan, Lugaano, Florenza & Prive) INR 88 Cr INR 218 Cr INR 478 Cr INR 1,199 Cr Revenue to be recognized from Sales revenue from unsold Revenue to be recognized
Slide 30: 5X Road Map – Implementing Growth Strategy
Q4 FY23 5X ROAD MAP – Implementing Growth Strategy Active evaluation of Unlocking potential Focus on execution & Maximising overall asset light JV/ JDA & DM of land bank timely project completion customer base partnership structures Land Bank Ajmera Eden AJMERA GREENFINITY FY24 Launch Pipeline Poten
Slide 31: ESG
Q4 FY23 FY 2023 ESG ENVIRONMENT | SOCIAL | GOVERNANCE Making Strides
Slide 32: ESG – Environmental Initiatives & Recognition
Q4 FY23 ESG – Environmental Initiatives & Recognition Certified Green Building Product Design & Lifecycle Management • Energy Efficient Building design, with more emphasis on ventilation and light. • Rainwater harvesting mandatorily available at each projects • Socially responsible of carrying out r
Slide 33: ESG – Social Initiatives
Q4 FY23 ESG – Social Initiatives Mumbai Mobile Creches Facility at Wadala Site Empowering under privileged students with workplace skills Supporting rejuvenation of 9 Women Empowerment Education sponsorship for Financial Assistance to under privileged lakes under Participatory Water Company follows
Slide 34: ESG – Governance
Q4 FY23 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 35: Governance – Esteemed Board Of Directors
Q4 FY23 Governance – Esteemed Board Of Directors Rajnikant S. Ajmera A. C. Patel Chairman & MD Independent Director • Aged 77, is a Metallurgical Engineer from IISC, Bengaluru • Aged 68, is the pillar and guiding force behind the (batch of 1969). growth of Ajmera Group • Also serves as an Independen
Slide 36: Governance – Leadership Group
Q4 FY23 Governance – Leadership Group Dhaval Ajmera Shweta Rathor Director GM Human Resources As director, Dhaval's primary role within the group is leading company With over 18 years of experience, Shweta leads developing and strategy, operations and project coordination. With Dhaval at the impleme
Slide 37: Shareholding & Price Movement
Q4 FY23 Shareholding & Price Movement Shareholder Information as SHARE PRICE PERFORMANCE on 31st Mar 2023 BSE Ticker 513349 NSE Symbol AJMERA Market Cap* (in INR Cr) 1,075 Promoter holding % 69.73% 131% % Free-Float 30.27% 18% Free-Float Market Cap* (in INR Cr) 247 16% Shares Outstanding (in Cr) 3.5
Slide 38: Financial Results Summary
Q4 FY23 FY 2023 FINANCIAL RESULTS SUMMARY Making Strides
Slide 39: Consolidated Financial Summary – Q4 & FY23
Q4 FY23 Consolidated Financial Summary – Q4 & FY23 Profit & Loss Statement Particulars Q4 FY23 Q4 FY22 YoY Q3 FY23 QoQ FY23 FY22 YoY (INR Cr ) Revenue From Operations 114.3 180.5 (37%) 79.1 44% 431.3 482.7 (11%) Other Income 3.5 3.1 14% 1.5 136% 9.5 6.4 48% Total Income 117.8 183.6 (36%) 80.6 46% 44
Slide 40: Consolidated Financial Summary – FY23
Q2 FY23 Consolidated Financial Summary –FY23 Cash Flow Statement Balance Sheet Statement FY23 FY22 FY23 FY22 FY23 FY22 Particulars Liabilities Assets (INR Cr) (INR Cr) (INR Cr) (INR Cr) (INR Cr) (INR Cr) Opening Cash & Cash Equivalents 23 25 Shareholders Funds 774 710 Trade Receivables 138 265 Opera
Slide 41: 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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