Ajmera Realty Infra India targets sales of Rs 5000 cr in next 3-5 years

23 Apr 2022 , 01:34 AM

Ajmera Realty Infra India announced its plans to launch six projects during the FY 2023 FY 2024 itself which has a revenue potential of ~Rs 4000 crore The Mumbai-based listed realty developer has estimated to clock in sales worth ~Rs 5000 crores in the next 3-5 years from its future launches as well as its existing projects The funding for all these new projects to launch will be via a mix of internal accruals bank funding and sales advances The developer will be launching 5 new projects in Mumbai and 1 new project in Pune Among the upcoming projects in Mumbai 4 will be residential and 1 will be a mix use category In Pune it will be residential category The projects will be developed on the land parcels owned by the company the cumulative estimated saleable area of the upcoming projects will be around ~27 mn sq ft Mumbai projects will constitute around ~24 mn sq ft and the remaining saleable area will be from Punes upcoming project ARIIL plans to move towards inorganic growth through low capex acquisition in the form of JV JDA DA Model in future Ajmera Realty Infra India expect to accrue revenue of ~Rs 1000 crore from its existing projects in Mumbai and Bengaluru Over Rs 144 crore is expected to be realized in the next 3 months from the advance stage projects The mid-stage projects are estimated to constitute Rs 727 crore over the next 3 years Estimated sale value of Rs 100 crore from Nucleus Bangalore- Commercial Project of 128 lakh sq ft which is strategically moved from rental based cash flow model to an outright sale model