Ajmera Realty & Infra India Limited (ARIIL) announced its operating numbers for Q4 FY23 and Q4 FY23 on April 10, 2023. The real estate company recorded a sales value of Rs 834 crore in FY23, registering a YoY growth of 93%. The sales value for Q4 FY23 was Rs 140 crore, showing a growth of 10% over the sales value of Rs 128 crore in Q3 FY23.
ARIIL witnessed a sales volume of 3,70,219 sq ft in FY23, up 50% YoY. The carpet area sold by the company increased by 9% from 63,595 sq. ft. in Q3 FY23 to 69,209 sq. ft. in Q4 FY23. Cash collections for FY23 stood at Rs 532 crore, showing a growth of 35% from Rs 394 crore in FY22. The company’s cash collection grew by 11% from Rs 116 crore in Q3 FY23 to Rs 103 crore in Q4 FY23.
Dhaval Ajmera, Director, ARIIL, said, “Our performance in FY23 reflects a sustained housing upcycle driven by strong affordability, job creation and income growth, surpassing the peak sales of the Covid period. Looking ahead, we are excited to double down on our launch pipeline in FY24 with an aim to garner Rs 2000 crore of estimated gross sales towards this endeavour. In addition, we are currently in active discussions towards JV/JD/DA low capex acquisitions, which will further strengthen our pipeline. Having already launched half a million square feet last year, we are optimistic about our growth prospects. We have demonstrated exceptional execution capabilities in projects such as Greenfinity and Sikova, and we remain committed to prioritizing on-time deliveries and ensuring customer satisfaction.”
“Leveraging our brand and expertise, we are poised to drive new business development and upcoming launches while focusing on debt reduction with strong cash flow. We expect this strategy to increase our market share and drive earnings improvement in the coming quarters, further reinforcing our confidence in the company’s future.”
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