Ajmera Realty & Infra India Ltd · NSE:AJMERA
Ajmera Realty & Infra India — Q2 FY24 Earnings Presentation
51 slides from Ajmera Realty & Infra India's earnings presentation, Nov 1, 2023
Slide 1: Exchange filing cover letter
Ref: SEC/ARIIL/BSE-NSE/2023-24 Date: November 1, 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 - 400001 Mumbai - 400051 Script Code: 513349 Script Code: AJMER
Slide 2: Investor Presentation Q2 FY24
FY 2024 Ajmera Realty & Infra India Limited INVESTOR PRESENTATION Q2 FY24 www.ajmera.com
Slide 3: Disclaimer
Q2 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
Q2 FY24 FY 2024 PERFORMANCE & OPERATIONS BUSINESS UPDATES
Slide 5: Key Business Highlights – Q2 FY24
Q2 FY24 Key Business Highlights – Q2 FY24 1,20,787 Sq.ft. ~INR 148 Cr Sales Volume Total Revenue 26% QoQ Increase 51% YoY Increase ~INR 252 Cr ~INR 23 Cr Sales Value 15% PAT Margin 52% YoY Increase 7% QoQ Increase ~INR 111 Cr 4 projects Collections Added to launch pipeline 8% YoY Increase 0.5 mn sq.
Slide 6: Financial Highlights – Q2 FY24
Q2 FY24 Financial Highlights – Q2 FY24 TOTAL REVENUE (INR Cr) EBITDA (INR Cr) & Financial Performance 187 EBITDA MARGIN (%) 148 118 58 26% QoQ increase in Total Revenue 39 40 Stable momentum in EBITDA & PBT 31% 33% 27% 7% QoQ increase in PAT Q2 FY23 Q1FY24 Q2 FY24 Q2 FY23 Q1 FY24 Q2 FY24 PBT (INR Cr
Slide 7: Operational Highlights – Q2 FY24
Q2 FY24 Operational Highlights – Q2 FY24 SALES VOLUME (Sq.ft.) SALES VALUE (INR Cr) Operational Performance 252 225 1,35,460 1,20,787 51% YoY increase in Sales Volume 166 79,976 52% YoY increase in Sales Value 8% YoY increase in Collection Q2 FY23 Q1 FY24 Q2 FY24 Q2 FY23 Q1 FY24 Q2 FY24 27% YoY incr
Slide 8: Performance Trends
Q2 FY24 Performance Trends 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 2,56,247 476 431 222 FY21 FY22 FY23 H1 FY24 FY21 FY22 FY23 H1 FY24 FY21 FY22 FY23 H1 FY24 EBITDA (INR Cr) & TOTAL REVENUE (INR Cr) PAT (INR Cr) EBITDA MARGIN (%)
Slide 9: Continued De-leveraging & Improving Debt Profile
Q2 FY24 Continued De-leveraging & Improving Debt Profile SECURED DEBT (INR Cr) & DEBT TO EQUITY RATIO Seized one-time savings opportunity under 50% concession Sustaining – Below 1x approval costs by paying INR 209 Cr before Dec 31, 2021. 830 826 776 786 688 1.17 1.11 1.10 1.11 0.97 Sep-21 Mar-22 Sep
Slide 10: Continued De-leveraging & Improving Debt Profile
Q2 FY24 Continued De-leveraging & Improving Debt Profile AVG COST OF DEBT & REPO RATE Reduced Avg. Cost of Debt to 12.1% as compared to 13.7% as on 31st March 2023, through financial performance & credit profile improvements 12.60% 12.10% 13.70% 11.20% 11.20% 6.50% 6.50% 5.90% 4.00% 4.00% Sep-21 Mar
Slide 11: Project Sales & Collections – Q2 & H1 FY24
Q2 FY24 Project Sales & Collections – Q2 & H1 FY24 Q2 FY24 H1 FY24 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 671 2 2 2 1,253 4 4 17 Manhattan Mumbai
Slide 12: Portfolio & Industry Update
Q2 FY24 FY 2024 PORTFOLIO & INDUSTRY UPDATE
Slide 13: Our portfolio
Q2 FY24 Our portfolio ~20.2 Mn ~1 Mn ~1.3 Mn ~11.6 Mn ~13.9 Mn Sq.ft. Sq.ft. Sq.ft. Sq.ft. Sq.ft. Completed Existing Potential Future Total Projects Portfolio Launches Potential Portfolio 46,000+ 6 Ongoing Projects 6 projects expected Owned & fully paid Units delivered Mumbai & Bengaluru in Mumbai &
Slide 14: Micro Market Presence
Q2 FY24 Micro Market Presence Completed Destinations Under Development Destinations Future Launches Ajmera Lugaano Yelahanka Future Development Potential Ajmera Florenza Ajmera Prive Juhu Ghatkopar Ajmera Eden Wadala Ajmera Manhattan Ajmera Electronic City Nucleus *All Area in lakh Sq.ft. (Carpet )
Slide 15: Project Portfolio
Q2 FY24 Project Portfolio Estimated Total Sales Revenue Revenue Carpet Area Total Carpet Carpet Area Value Of Project Status Project Ownership Value Recognised Unrecognised Unsold Area (Sq.ft.) Sold (Sq.ft.) Unsold Area (INR Cr) (INR Cr) (INR Cr) (Sq.ft.) (INR Cr) Nucleus 70% 98,950 - - - - 98,950 1
Slide 16: Potential launches
Q2 FY24 Potential launches Estimated Estimated Estimated Estimated Ownership Revenue Project Location Launch Completion Carpet Area % (Month, Year) (Month, Year) (INR Cr) (Sq.ft.) Central Mumbai 2 Mumbai 85% Mar’24 Sep’27 320 1,70,000 Announced as Codename Vikhroli Mumbai 100% Apr’24 Mar’27 550 2,40
Slide 17: How we are scaling up
Portfolio Expansion How we are scaling up by outperforming business guidance Parameter Existing Future SALES VALUE GROWTH Growing (IN CRORE) 1 msf 2.3 msf portfolio size Expanding 0.8 msf 1.3 msf Launch Pipeline Maximizing ~1000 cr INR 1,000 Cr INR 2,750 Cr Sales Inventory 842 cr Geographical 431 cr
Slide 18: Development potential – Owned Land Bank
Q2 FY24 Development potential – Owned Land 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 19: Revenue Recognition – Strong Revenue Visibility
Q2 FY24 FY 2024 REVENUE RECOGNITION STRONG REVENUE VISIBILITY Making Strides
Slide 20: OC Received & Advance Stage Projects
Q2 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 Sep 2023 Recognised Recognition Carpet Area Sale value Potential 30 Sep 2023 (Sq.ft.) (INR Cr) (INR Cr) (INR Cr) (Sq.f
Slide 21: Mid Stage Projects
Q2 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 Sep 2023 Recognised Recognition Carpet Area Sale value Potential 30 Sep 2023 (Sq.ft.) (INR Cr) (INR Cr) (INR Cr) (Sq.ft.) (INR Cr) (INR
Slide 22: Total Revenue Potential
Q2 FY24 Revenue Visibility OC Received & Mid Stage Projects Advance Stage Projects (Sikova, Greenfinity & Nucleus ) (Manhattan, Lugaano, Florenza, Prive & Eden) INR 39 Cr INR 151 Cr INR 741 Cr INR 1,066 Cr Revenue to be recognized from Sales revenue from unsold Revenue to be recognized from Sales re
Slide 23: 5X Road Map – Strategy
Q2 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 24: ESG
Q1 FY24 FY 2024 ESG ENVIRONMENT | SOCIAL | GOVERNANCE
Slide 25: ESG – Social Initiatives
Q4 FY24 Q2 FY23 ESG – Social Initiatives Energy Management Waste Management • Enhanced Energy Performance: Through efficient fixtures and reduced • Segregation: Waste is segregated at various levels of the system LPD of projects to reduce building energy consumption. (household as well as collective
Slide 26: ESG – Social Initiatives
Q2 FY24 ESG – Social Initiatives Mumbai Mobile Creches Facility at Wadala Site Malnutrition & Women Health Program Engaged with MAHAN Trust Financial Assistance to under privileged Vocational education is provided to School Fees sponsorship for towards healthcare viz. Angioplasty and 40 Aarey Colony
Slide 27: ESG – Governance
Q2 FY24 ESG – Governance Some of our Policies for Strong Governance Practices Effective Governance • Code of Insider Trading Policy Board consists of professionals • Policy on Preservation of Documents from diverse fields • Archival Policy • Dividend Distribution Policy SEBI Compliant, Regular and t
Slide 28: Governance – Esteemed Board Of Directors
Q2 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 29: Governance – Leadership Group
Q2 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 30: Project Pioneers – Our Stellar Team Members
Q2 FY24 Project Pioneers – Our Stellar Team Members Yogi Nagar & OC receipt of Bhandup project Versova project Greenfinity DA signed Redevelopment team successfully Fast track execution enabled early SRA redevelopment development acquired two projects adding to our possession of homes, surpassing th
Slide 31: Shareholding & Price Movement
Q2 FY24 Shareholding & Price Movement Shareholder Information as SHARE PRICE PERFORMANCE on 30th Sept 2023 BSE Ticker 513349 260% NSE Symbol AJMERA Market Cap* (in INR Cr) 1,358 Promoter holding % 69.73% % Free-Float 30.27% 82% Free-Float Market Cap* (in INR Cr) 464 33% Shares Outstanding (in Cr) 3.
Slide 32: Financial Results Summary
Q2 FY24 FY 2024 FINANCIAL RESULTS SUMMARY
Slide 33: Consolidated Financial Summary – Q2 & H1FY24
Q2 FY23 Consolidated Financial Summary – Q2 & H1FY24 Profit & Loss Statement Particulars Q2 FY24 Q2 FY23 YoY Q1 FY24 QoQ H1 FY24 H1 FY23 YoY (INR Cr ) Revenue From Operations 145.3 185.5 (22%) 116.0 25% 261.4 237.8 10% Other Income 2.2 1.7 35% 1.5 48% 3.8 4.5 (16%) Total Income 147.6 187.1 (21%) 117
Slide 34: Consolidated Financial Summary – H1FY24
Q2 FY23 Consolidated Financial Summary – H1FY24 Balance Sheet Statement H1 FY24 FY23 H1 FY24 FY23 Liabilities Assets (INR Cr) (INR Cr) (INR Cr) (INR Cr) Shareholders Funds 807 774 Trade Receivables 128 138 Minority Interest 123 119 Inventories 1,206 1,175 Borrowings 827 826 Loans & Advances 254 280
Slide 35: Cash Flow Statement – Q2 & H1 FY24
Q2 FY24 Cash Flow Statement – Q2 & H1 FY24 Particulars (INR crore) Particulars (INR crore) Q2 FY24 H1 FY24 Q2 FY24 H1 FY24 (E) Net Investing Cashflow 1.4 (4.0) (A) Operating Inflows 111.0 221.9 Land Acquisition (1.5) (9.1) Collection 111.0 221.9 Other Income 2.4 4.5 (B) Operating Outflows (88.4) (18
Slide 36: Projects Update Annexure
Q2 FY24 FY 2024 Projects Update Annexure
Slide 37: Ajmera Manhattan
Q2 FY24 Compact Luxury Project Ajmera Manhattan 782 Cr 275 Cr of Total Sales Booked of Revenue Recognised ~54% 2,30,728 Sq.ft. of Inventory Sold Unsold Inventory Tower B has been June’27 constructed to Estimated project timelines Mezzanine level as per RERA 36
Slide 38: Ajmera Manhattan – Current Construction Status
Q2 FY24 Current Construction Status Ajmera Manhattan Mezzanine floor completed Overall Site View 37
Slide 39: Ajmera Greenfinity
Q2 FY24 Mid Market Project Ajmera Greenfinity 167 Cr 161 Cr of Total Sales Booked of Revenue Recognised ~86% 9,741 Sq.ft. of Inventory Sold Unsold Inventory OC Received Fast track execution within less than 36 months 38
Slide 40: Ajmera Greenfinity – Current Construction Status
Q2 FY24 Current Construction Status Ajmera Greenfinity Elevation C Wing Lobby 39
Slide 41: Ajmera Sikova
Q2 FY24 Boutique Commercial Project Ajmera Sikova 228 Cr 216 Cr of Total Sales Booked of Revenue Recognised ~93% 8,953 Sq.ft. of Inventory Sold Unsold Inventory OC Received Handed over in Oct’23, Ahead of RERA timelines of Dec’24 40
Slide 42: Ajmera Sikova – Current Construction Status
Q2 FY24 Current Construction Status Ajmera Sikova Elevation Tower Parking 41
Slide 43: Ajmera Prive
Q2 FY24 Premium Residences in upscale Juhu Ajmera Prive 46 Cr 24 Cr of total sales booked of Revenue Recognised ~31% 21,117 Sq.ft. of Inventory Sold Unsold Inventory 14 Days Jun’26 Avg days in which Every Estimated project timelines slab is casted as per RERA UNITS SIZE 3 BHK 1,211 Sq.ft. 4 BHK 1,73
Slide 44: Ajmera Prive – Current Construction Status
Q2 FY24 Current Construction Status Ajmera Prive 8th Floor Slab WIP Reinforcement Work in Progress 43
Slide 45: Ajmera Eden
Q2 FY24 Premium Residences in Ghatkopar Ajmera Eden 78 Cr ~32% of Total Sales Booked of Inventory Sold on launch in June’23 64,942 Sq.ft. Approvals Received: Unsold Inventory MHADA NOC, IOD, CC & RERA The project has been Jan’27 constructed to Estimated project timelines UNITS SIZE Plint Level as pe
Slide 46: Ajmera Eden – Current Construction Status
Q2 FY24 Current Construction Status Ajmera Eden Concreting of Parking WIP Deshuttering WIP 45
Slide 47: Ajmera Nucleus
Q2 FY24 Mid Market Project Ajmera Nucleus 96 Cr 75 Cr of total sales booked of Revenue Recognised ~99% 1,400 Sq.ft. of Inventory Sold Unsold Inventory Leasing Initiated for Dec’23 Nucleus Commercial Estimated project timelines as per RERA 46
Slide 48: Ajmera Nucleus – Current Construction Status
Q2 FY24 Current Construction Status Ajmera Nucleus Nucleus Residential (AB Wing) Nucleus Commercial 47
Slide 49: Ajmera Lugaano & Florenza
Q2 FY24 Affordable Project Ajmera Lugaano & Florenza 154 Cr 20 Cr of total sales booked of Revenue Recognised ~68% 83,130 Sq.ft. of Inventory Sold Unsold Inventory Multiplier effect: Lugaano – Sep’26 Revamped Sales strategy Florenza – Sep’25 implementation Estimated project timelines as per RERA 48
Slide 50: Ajmera Lugaano & Florenza – Current Construction Status
Q2 FY24 Current Construction Status Ajmera Lugaano & Florenza Tower AB - South View Wing D - WIP 49
Slide 51: 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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