Ajmera Realty & Infra India Limited

Nitin Bavisi

CFO

Dhaval Ajmera

DIRECTOR

INR 566 crore

is half yearly results has been one of our best results so far, where we have done a sales of over INR 566 crore, which is up 181% year-on-year and about 1.3 times higher than our sales value of FY22, which was

181%

been one of our best results so far, where we have done a sales of over INR 566 crore, which is up 181% year-on-year and about 1.3 times higher than our sales value of FY22, which was INR 431 crore. As

INR 431 crore

, which is up 181% year-on-year and about 1.3 times higher than our sales value of FY22, which was INR 431 crore. As far as our quarter goes, I'm also happy to announce that our revenue and PAT during this quart

INR 187 crore

o happy to announce that our revenue and PAT during this quarter has also been at a decade high of INR 187 crore and INR 34 crore respectively. We launched the Ajmera Manhattan Project in the beginning of FY23

INR 34 crore

e that our revenue and PAT during this quarter has also been at a decade high of INR 187 crore and INR 34 crore respectively. We launched the Ajmera Manhattan Project in the beginning of FY23 and have received

33%

attan Project in the beginning of FY23 and have received a tremendous positive response with about 33% of Manhattan inventory being already sold in the span of the six months. This project was also rec

73%

f this project has also been completed in nearly 14 months, and it is now at a finishing stage and 73% of this inventory is already sold. Looking at our commercial projects, the Sikova at Ghatkopar wh

66%

r which is a boutique office development. This project is also at finishing stage and we are about 66% of this inventory sold out. In the Wadala suburbs of Mumbai, we offer a variety of options with re

77%

mera Nucleus, the wing A and B, OC has been received during this quarter and we've also sold about 77% of our inventory in residential segment. This also includes construction of our Nucleus C Wing and

INR 2,200 crore

Mumbai region during FY23 and FY24. The estimated revenue of these four launches is close to about INR 2,200 crore. We have a revenue visibility of INR 2,100 crore from our ongoing projects, bringing the total re

INR 2,100 crore

revenue of these four launches is close to about INR 2,200 crore. We have a revenue visibility of INR 2,100 crore from our ongoing projects, bringing the total revenue visibility of around INR 4,300 crore. We hav

INR 4,300 crore

lity of INR 2,100 crore from our ongoing projects, bringing the total revenue visibility of around INR 4,300 crore. We have a further potential development of 11.8 million square feet from our own land bank in the

“I'll begin by discussing the real estate outlook, business highlights of this quarter, followed by the operational and financial performance highlights which will be done by our CFO.”

“We launched the Ajmera Manhattan Project in the beginning of FY23 and have received a tremendous positive response with about 33% of Manhattan inventory being already sold in the span of the six months.”

“This project was also recognized as the top selling housing project in Mumbai eastern suburbs from April to June 2022 as per the CRE Matrix data.”

“The Greenfinity project at Wadala is also a perfect example of a fast tracked execution capabilities.”

“The superstructure of this project has also been completed in nearly 14 months, and it is now at a finishing stage and 73% of this inventory is already sold.”

“This project is also at finishing stage and we are about 66% of this inventory sold out.”

“Coming to Bengaluru, where our presence has always been there in the mid-luxury segment and I'm happy to say that our project Ajmera Nucleus, the wing A and B, OC has been received during this quarter and we've also sold about 77% of our inventory in residential segment.”

“We have also received OC for our Nucleus Commercial Project during this period and now we are confident that in the coming few quarters we should be able to sell this project as well.”

“Coming to our high-end development project, redevelopment project Ajmera Prive at Juhu, in Mumbai, which is a self-funded project and is progressing well.”

“In order to maintain the launch momentum, we have obtained financial closure with a reputed global bank for a Codename Ghatkopar project and the launch is very well on track.”

Dhaval Ajmera

9

Nitin Bavisi

9

Moderator

6

Balasubramaniam

4

Shashank Mahajan

4

Avinash Gupta

2

MODERATOR

1

Jay Shah

1

Balasubamaniam

1

Ankita Sharma

1

Jay Shah

Thank you. Good evening, everyone, and thank you for joining us for Ajmera Realty & Infra India Limited Second Quarter FY23 Conference Call. We will begin the call with opening remarks from the director Mr. Dhaval Ajmera, and business performance from the CFO, Mr. Nitin Bavisi, which shall be followed by a Q&A session.

Dhaval Ajmera

Before we begin, I would like to state that some of the statements in today's discussion may be forward-looking in nature, reflecting company’s future outlook and they involve certain risks and uncertainties that the Company may face. We have already shared the operational updates of the company in the first week of October 2022. The investor presentation and the press release based on the financial results adopted by the Board can be downloaded from the website of the Company and have been uploaded on the Stock Exchange website as well. I would like to hand the conference over to the Director, MR. Dhaval Ajmera. Thank you, and over to you, sir. Thank you. Good evening and hello everyone. We are pleased to connect with you again for our second quarter FY23 Ajmera earnings conference call. I look forward to interacting with you all as we move on to the next phase of the growth at Ajmera Realty. I'll begin by discussing the real estate outlook, business highlights of this quarter, follow

Nitin Bavisi

November 10, 2022 Ajmera Realty & Infra India Limited Coming to the revenue side, our total revenue for H1 FY23 stood at INR242 crore which is 3% y-o-y increase. Our EBITDA stood at INR76 crore which is 29% increase y-o-y. The EBITDA margin stood at 31%. Our PBT stood at INR61 crore, which is 110% y-o-y increase and PBT margin also expanded to 25%. PAT level, we have exceedingly well, at INR46 crore which is about 111% y-o-y increase and PAT margins stood at 19%. This PAT of INR46 crore, I am happy to say that it is equivalent to that of the entire annual PAT of FY22. Our total revenue for quarter two, FY23 stood at INR187 crore, which is 87% rise y-o-y. Our EBITDA doubled during the quarter and stood at INR58 crore, a 133% y-o-y increase. The EBITDA margin stood at 31%, PBT at INR46 crore, which is 209% increase y-o-y and PBT margin at 25%. PAT grew by more than two times on y-o-y basis and stood at INR34 crore and PAT margin significantly improved to 18% as compared to 11% in quarter

Balasubramaniam

Good evening, sir. Congratulations for good set of numbers. Sir, around INR4300 crore of revenue potentials. How many years that will be a potential having? It will spread to how many years?

Nitin Bavisi

So, broadly it is, as we have showcased that it is composition of the OC based projects, advanced stage completion and as well midsize, and as well to be launched kind of a thing. So, in terms of the broader timelines, it should be three to five years. Yes. But in terms of OC and the advanced stage completion, it is much, much earlier than that.

Balasubramaniam

Sir, I have seen the industry conversion rate around the 8%. For example, if 100 people are visiting to see the flats, around eight flats are sold. So, what is the average conversion rate for Ajmera Realty.