Ajmera Realty & Infra India (ARIIL) has reported a 7.85 percent increase in its net consolidated profit for the fourth quarter of the financial year 2022-2023. The company has also decreased its debt by 7 percent and procured property worth approximately Rs 550 crore for development purposes. The board of directors has proposed a final dividend of Rs 3 for each equity share with a face value of Rs 10, pertaining to the fiscal year concluding on March 31, 2023. Despite a decline of 35.85 percent in its net consolidated total income from operations, ARIIL's sales volume and valuation have surged in FY2023.
During the quarter ending March 31, 2023, Ajmera Realty & Infra India (ARIIL) experienced a 7.85 percent increase in its net consolidated profit. The company reported a profit of Rs 15.11 crore in the fourth quarter of the financial year 2022-2023, surpassing the Rs 14.01 crore profit recorded in the same period of the previous fiscal year, according to a filing with the Bombay Stock Exchange.
The company witnessed a decline of 35.85 percent in its net consolidated total income from operations in quarter four of fiscal year 2023, which stood at Rs 117.80 crore. This figure is lower than the Rs 183.62 crore recorded in the corresponding quarter of the previous year.
The company has successfully decreased its debt by 7 percent compared to the previous year, resulting in a debt-to-equity ratio of 1:1 projected for fiscal year 2023. This achievement can be largely attributed to the company's effective debt management strategies and the growth of its sales collection.
In the fiscal year 2023, the business procured property worth approximately Rs 550 crore for development purposes, showcasing a 95 percent surge in sales valuation to Rs 842 crore with a corresponding 50 percent rise in sales volume to 3,70,219 lakh square feet. The collections have also seen a 35 percent upswing to Rs 532 crore, while the debt level witnessed a modest 7 percent decline to Rs 776 crore.
The board of directors proposed a final dividend of Rs 3 for each equity share with a face value of Rs 10, pertaining to the fiscal year concluding on March 31, 2023.
Ajmera Realty & Infra India (ARIIL), a publicly traded company from Mumbai, India, was established in 1985 under the name Percolated Steels. The Ajmera Group's most prominent enterprise, valued at US $ 450 million, has major investments in real estate, building, cement, steel rolling, and construction-focused ventures. The organization has expanded its operations to encompass solar energy and effortlessly integrated capsules. In 2009, the company's name underwent modification to Ajmera Realty & Infra India. This has established the company as a major real estate developer in India, privately owned, and operating on a large scale.
ARIIL is operating across India as well as globally. The focus of the enterprise lies in the upscale development of the residential sector, with an emphasis on high-end and mid-level luxury projects. The organization possesses a vast opportunity for growth with the expansive undeveloped lot in Ajmera I-Land, Bhakti Park, Wadala, and Central Mumbai.
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