Ajmera Realty & Infra India Ltd · NSE:AJMERA
Ajmera Realty & Infra India — Q2 FY25 Earnings Presentation
37 slides from Ajmera Realty & Infra India's earnings presentation, Oct 28, 2024
Slide 1: Exchange intimation letter for investor presentation
Ref: SEC/ARIIL/BSE-NSE/2024-25 Date: October 28, 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 - 400001 Mumbai - 400051 Script Code: 513349 Script Code: AJMER
Slide 2: Q2 FY25 Earnings Presentation
Q2 FY 2025 Ajmera Realty & Infra India Limited EARNINGS PRESENTATION Q2 FY25 www.ajmera.com
Slide 3: Disclaimer
Q2 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
Q2 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 560 Cr INR 69 Cr 0.85x Debt-to-Equity as on
Slide 5: Performance & Operations Business Updates
FY 2025 PERFORMANCE & OPERATIONS BUSINESS UPDATES
Slide 6: Key Business Highlights
Q2 FY25 Key Business Highlights 2,44,847 Sq.ft. INR 400 Cr Sales Volume Total Revenue Sustained sales across portfolio 51% YoY Increase INR 560 Cr INR 131 Cr Sales Value EBITDA 18% YoY Increase 67% YoY Increase INR 298 Cr INR 69 Cr Collections Profit After Tax 34% YoY Increase 55% YoY Increase INR 2
Slide 7: Project Sales & Collections – Q2 & H1 FY25
Q2 FY25 Project Sales & Collections – Q2 & H1 FY25 Q2 FY25 H1 FY25 Sales Volume Sales Value Units Collections Sales Volume Sales Value Units Collections Project Location (Sq.ft.) (INR Cr) (Nos) (INR Cr) (Sq.ft.) (INR Cr) (Nos) (INR Cr) Aeon, Zeon, Treon Mumbai - - - - 291 1 1 - Manhattan Mumbai 23,2
Slide 8: Financial Highlights – Q2 FY25
Q2 FY25 Financial Highlights – Q2 FY25 TOTAL REVENUE (INR Cr) EBITDA (INR Cr) & Financial Performance EBITDA MARGIN (%) 196 204 67 65 148 38% YoY increase in Total Revenue 118 40 62% YoY increase in EBITDA 34% 32% 27% 59% YoY increase in PBT Q2 FY24 Q1 FY25 Q2 FY25 Q2 FY24 Q1 FY25 Q2 FY25 PBT (INR C
Slide 9: Operational Highlights – Q2 FY25
Q2 FY25 Operational Highlights – Q2 FY25 SALES VOLUME (Sq.ft.) SALES VALUE (INR Cr) Operational Performance 306 130,801 252 254 Sustained momentum across portfolio 120,787 114,046 in Sales Volume & Value 20% YoY increase in Collection Ajmera Vihara at Bhandup launched at the Q2 FY24 Q1 FY25 Q2 FY25
Slide 10: Performance Trend
Q2 FY25 Performance Trend SALES VALUE (INR Cr) COLLECTIONS (INR Cr) SALES VOLUME (Sq.ft.) 1,017 570 532 473,091 842 394 370,219 560 298 246,289 244,847 431 FY22 FY23 FY24 H1 FY25 FY22 FY23 FY24 H1 FY25 FY22 FY23 FY24 H1 FY25 EBITDA (INR Cr) & TOTAL REVENUE (INR Cr) PAT (INR Cr) EBITDA MARGIN (%) & P
Slide 11: Continued De-leveraging & Improving Debt Profile
Q2 FY25 Continued De-leveraging & Improving Debt Profile SECURED DEBT & DEBT TO EQUITY RATIO 2.00 1.11 1.00 0.97 0.90 0.80 0.85 0.00 826 776 786 780 793 722 260 230 246 442 510 409 566 546 540 338 313 283 Sep-22 Mar-23 Sep-23 Mar-24 Jun-24 Sep-24 Corporate Debt (INR Cr) Project Debt (INR Cr) Debt to
Slide 12: Continued De-leveraging & Improving Debt Profile
Q2 FY25 Continued De-leveraging & Improving Debt Profile AVG COST OF DEBT & REPO RATE 13.70% 12.60% 12.10% 11.98% 11.64% 12.22% 5.90% 6.50% 6.50% 6.50% 6.50% 6.50% Sep-22 Mar-23 Sep-23 Mar-24 Jun-24 Sep-24 Avg. Cost of Debt (%) Repo Rate (%) 11
Slide 13: Forging Partnerships – Strategic Achievements
Q2 FY25 Forging Partnerships – Strategic Achievements Preferential Allotment • INR 225 crores raised by issue of 31.64 lakhs equity shares at INR 711 per share • Onboarding marquee and strategic investors • Company plans to use it for accelerating the momentum of its project launches, debt repayment
Slide 14: Portfolio Update & Strategy
FY 2025 PORTFOLIO UPDATE & STRATEGY
Slide 15: Our Portfolio
Q2 FY25 Our Portfolio 20.3 Mn 1.1 Mn 1.7 Mn 11.1 Mn 13.9 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 Mumb
Slide 16: Micro Market Presence
Q2 FY25 Micro Market Presence Yelahanka Ajmera Prive Ajmera Eden Juhu Bhandup Ghatkopar Ajmera Lugaano & Ajmera Florenza Wadala Ajmera Manhattan Ajmera Vihara CompletedDestinations UnderDevelopment Destinations Future Launches Ajmera Greenfinity Future Development Potential MUMBAI METROPOLITAN REGIO
Slide 17: Ongoing Project Update
Q2 FY25 Ongoing Project Update Ajmera Manhattan Ajmera Prive Ajmera Eden 85% 69% 69% of Inventory Sold of Inventory Sold of Inventory Sold Tower B : 9th Level RCC Completed, MEP & 14th Floor Slab completed Finishing in progress Completed, June’27 June’26 June’27 Estimated project Estimated project E
Slide 18: Ongoing Project Update
Q2 FY25 Ongoing Project Update Ajmera Greenfinity Ajmera Lugaano & Florenza Ajmera Vihara 59% 91% 49% of Inventory Sold of Inventory Sold of Inventory Sold 2nd Level work in Terrace floor work Excavation & pilling progress in progress work in Progress. Aug’27 Lugaano – Sep’26 Feb’29 Estimated projec
Slide 19: Revenue Visibility – OC Received Projects
Q2 FY25 Revenue Visibility OC Received Projects Total Sales Book Balance Unsold Co mpletion Total Carpet Revenue Estimated Revenue as on 30 Revenue Carpet Projects Ownership as on Carpet Area Area Recognised Sale value Potential Sep 2024 Recognition Area (INR Cr) 30 Sep 2024 (Sq.ft.) Sold (INR Cr) (
Slide 20: Revenue Visibility – Ongoing Projects
Q2 FY25 Revenue Visibility Ongoing Projects Total Sales Book Balance Unsold Co mpletion Total Carpet Revenue Estimated Revenue as on 30 Revenue Carpet Projects Ownership as on Carpet Area Area Recognised Sale value Potential Sep 2024 Recognition Area (INR Cr) 30 Sep2024 (Sq.ft.) sold (INR Cr) (INR C
Slide 21: Potential Launches
Q2 FY25 Potential Launches Estimated Estimated Estimate Estimated Ownership Project Location Launch Completion d GDV CarpetArea (%) (Month, Year) (Month, Year) (INR Cr) (Sq.ft.) Ajmera Iris Bangalore 70% Oct’24 Dec’27 150 2,35,000 Codename Vikhroli Mumbai 100% Jan’25 Mar’28 700 3,25,000 Codename Cen
Slide 22: Revenue Visibility
Q2 FY25 Revenue Visibility O C Re ce ived P roje cts O ng oin g Pr oj ec ts (Manhattan, Lugaano, Florenza, Prive, Eden ,Greenfinity AB and (Greenfinity CD & Nucleus ) Bhandup) INR 1 Cr INR 57 Cr INR 1,051 Cr INR 670 Cr Revenue to be recognized from Sales revenue from unsold committed sales Revenue t
Slide 23: Development potential – Owned Land Bank
Q2 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 24: Portfolio Expansion
Q2 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 1.3 msf* 1.7 msf 1,350 Launch Pipeline 1,017 Maximizing 842 INR 727 Cr INR 4,270 Cr Sales Inventory 431 INR 560 Geograp
Slide 25: 5X Road Map – Strategy
Q2 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 26: Financial Results Summary
FY 2025 FINANCIAL RESULTS SUMMARY
Slide 27: Consolidated Financial Summary – Q2 & H1 FY25
Q2 FY25 Consolidated Financial Summary – Q2 & H1 FY25 Profit & Loss Statement Particulars (INR Cr ) Q2 FY25 Q2 FY24 YoY Q1 FY25 QoQ H1 FY25 H1 FY24 YoY Total Revenue 204.1 147.6 38% 196.2 4% 400.3 265.2 51% Total Expenses 139.5 107.6 30% 129.4 8% 269.0 186.5 44% EBITDA 64.6 40.0 62% 66.7 (3%) 131.3
Slide 28: Consolidated Financial Summary – H1 FY25 Balance Sheet
Q2 FY25 Consolidated Financial Summary – H1 FY25 Balance Sheet Statement EQUITY AND LIABILITIES (INR Cr) H1 FY25 FY24 ASSETS (INR Cr) H1 FY25 FY24 Eq uity Share Capit al 36.2 35.5 Property, Plant & Equipment 31.0 29.5 Other Equity 882.7 830.2 Goodwill & Intangible Assets 41.9 41.9 Net Worth 918.9 86
Slide 29: Cash Flow Statement – Q2 & H1 FY25
Q2 FY25 Cash Flow Statement – Q2 & H1 FY25 Particulars (INR Cr) Q2 FY25 H1 FY25 Particulars (INR Cr) Q2 FY25 H1 FY25 135.5 300.7 ( E) N et In vesting Cash flow ( 66.1) ( 61.0) ( A) Operating Inflo ws Business Development (72.6) (72.6) Collect ion 135.5 300.7 Other Income 1.5 3.4 ( B) Operating Outfl
Slide 30: Cash Flow Potential
Q2 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 30 1,276 1,305 Value of unsold inventory 82 670 752 Balance Cost to incur 1 861 862 Project Debt - 437 437 Estimated Net Cash Flow 111
Slide 31: Guidance Vs Actual for FY25E
Q2 FY25 Guidance Vs Actual for FY25E FY24 FY25 H1 FY25 Sales Value Sales Guidance Sales Value INR 1,017 Cr INR 1,350 Cr INR 560 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 0.85x Guidance Actual 30
Slide 32: ESG
FY 2025 ESG ENVIRONMENT | SOCIAL | GOVERNANCE
Slide 33: ESG Environmental Initiatives
Q2 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
Q2 FY25 ESG Social Initiatives Visit to Khardi was made to assess the Zila Parishad school for the current year CSR adoption. Free Residential school for 720+ tribal children in Navsari South Gujarat Majority of students are orphan or having single parent 33
Slide 35: ESG Governance
Q2 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
Q2 FY25 Shareholding & Price Movement Shareholder Information as on 30th Sep 2024 200.0% SHARE PRICE PERFORMANCE 180.0% BSE Ticker 513349 175% 160.0% NSE Symbol AJMERA 140.0% 143% Market Cap* (in INR Cr) 2,994 120.0% Promoter holding % 74.2% 100.0% % Free-Float 25.8% 80.0% Free-Float Market Cap* (in
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 — Q2 FY25 Earnings Presentation on 6ix