Ajmera Realty & Infra India Ltd (ARIIL) has received a CRISIL A-/Stable rating, reflecting its strong financial and operational performance. This rating enhances ARIIL's credibility, supporting its plans to optimise its debt profile and pursue new industry collaborations. Managing seven active projects with 11.31 lakh sq. ft. of saleable area, ARIIL has achieved 67% sales and is progressing toward 51% overall completion. The company is also planning seven new projects with a GDV of INR 4,270 crore. ARIIL's proactive approach and recent rating position it as a key player in India's evolving real estate market.
Ajmera Realty & Infra India Ltd (ARIIL) has achieved a significant milestone by receiving a CRISIL A-/stable rating. This recognition reflects the company's strong financial and operational performance and positions ARIIL well within the competitive Indian real estate market. The rating is expected to enhance ARIIL's credibility, allowing the firm to optimise its debt profile and explore new collaborations in the industry.
Currently, ARIIL is managing seven active projects with a total developer's share of around 11.31 lakh square feet of saleable area. Among these projects, five are more than 60% complete, with the overall project completion progress at approximately 51%. The company has observed robust sales momentum, which has led to strong cash flows essential for ongoing construction. As of March 2024, about 67% of the total saleable area across these projects has already been sold, indicating a healthy demand.
In addition to its ongoing projects, ARIIL is planning seven new initiatives with a total carpet area of 1.7 million square feet. These upcoming projects have a Gross Development Value (GDV) of INR 4,270 crores, and the approval process for these projects has commenced. Furthermore, ARIIL has a substantial land bank of 11.1 million square feet, providing a solid foundation for future growth. Recently, the company made headlines by paying a stamp duty of INR 4.5 crores for land purchased from Tata Communications in Vikhroli, Mumbai, further strengthening its asset portfolio.
Dhaval Ajmera, Director of Ajmera Realty, expressed satisfaction with the CRISIL rating, highlighting that the A-/Stable rating reflects the trust stakeholders have in the company. He emphasised their commitment to continuing to honour that trust by ensuring remarkable growth. He further emphasised the company's goal of achieving five fold growth, driven by a strong pipeline and significant pre-sales in their current projects. This aggressive growth strategy aims to consistently improve performance on a quarterly basis.
As the Indian real estate sector continues to evolve, companies like ARIIL are focusing on meeting the growing demand for housing and commercial spaces. The CRISIL rating not only underlines ARIIL's current achievements but also signals its potential for future expansion. The real estate market is expected to experience steady growth in the coming years, driven by urbanisation, an increasing population, and rising income levels. ARIIL's proactive approach to project development and financial management may place it at the forefront of this growth.
With the latest rating and ongoing projects that cater to the market's needs, Ajmera Realty is poised to make a significant impact on the real estate landscape in India. As the company advances with its growth plans, stakeholders will be watching closely to see how ARIIL's strategies will shape its future and influence the broader market trends.
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