Ajmera Realty & Infra India Ltd experienced a remarkable rise in its financial performance for Q4 FY24 and the full fiscal year. Net consolidated profit soared by 90.40%, reaching INR 28.77 crore, while total income jumped by 98.71% to INR 234.08 crore. The company announced a final dividend of INR 4 per equity share and appointed Hemanti Prashant Sutaria as an independent director. Sales value doubled to INR 287 crore in Q4, with collections growing by 91%. Despite growth, the debt-equity ratio improved to 0.90:1. The company aims for 5x growth, projecting a 33% increase in pre-sales for FY25.
Ajmera Realty & Infra India Ltd's Q4 FY24 showcased a remarkable performance, with a net consolidated profit rise of 90.40%, reaching INR.77 crore. The company's net consolidated total income stood at INR 234.08 crore, marking a significant growth of 98.71% compared to the similar quarter last year. The board of directors recommended a final dividend of INR 4 per equity share for the financial year ended March 31, 2024. Additionally, Hemanti Prashant Sutaria was appointed as an independent director for a five-year term commencing from May 11, 2024.
In terms of financial metrics, sales value experienced a twofold increase in Q4 FY24, reaching INR 287 crore from INR 140 crore in Q4 FY23, contributing to an annual sales value of INR 1,017 crore, with a 21% year-on-year growth. Collections also saw a substantial growth of 91% year-on-year, standing at INR 197 crore in Q4 FY24 compared to INR 103 crore in Q4 FY23.
The company's total revenue rose by 99% on a year-on-year basis in Q4 FY24, amounting to INR 234 Cr compared to INR 118 Cr in Q4 FY23. For the entire FY24, the total revenue recorded a year-on-year growth of 61%, reaching INR 708 Cr from INR 441 Cr in FY23. Similarly, the profit after tax (PAT) witnessed a significant increase, growing by 90% year-on-year in Q4 FY24 to INR 29 Cr from INR 15 Cr in Q4 FY23. For the full fiscal year, the PAT grew by 44% year-on-year to INR 103 Cr from INR 72 Cr in FY23.
Moreover, the company's debt-equity ratio improved to 0.90:1 in Q4 FY24 compared to 0.94:1 in Q3 FY24 and 1.00:1 at the end of Q4 FY23. This enhancement in financial leverage signifies a strengthened financial position for Ajmera Realty & Infra India Ltd. Additionally, the company's net worth stood at INR 865.69 crore in FY24.
Mr. Dhaval Ajmera, Director of Ajmera Realty & Infra India Limited, expressed his satisfaction with the performance, highlighting FY24 as a transformative period for the company. Despite challenges, the company achieved significant milestones, including a robust annual topline exceeding INR 700 Cr and a bottom line surpassing INR 100 Cr. Notably, pre-sales exceeded INR 1,000 Cr, reflecting strong market demand and operational efficiency. Looking ahead, the company is optimistic about achieving its strategic vision of 5x growth, driven by a robust pipeline of launches, project additions, and effective leverage management. For FY25, the company aims for a 33% growth in pre-sales, underscoring its confidence in sustaining growth momentum.
In conclusion, Ajmera Realty & Infra India Ltd's Q4 FY24 financial results reflect a period of significant growth and strategic advancement. With strong financial performance, prudent management decisions, and a clear growth trajectory, the company remains well-positioned to capitalize on emerging opportunities in the real estate sector.
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