Ajmera Realty Reports INR 254 Crores in Sales, Sees 20% YoY Growth in Collections

Key Takeaways from the Announcement

• Ajmera Realty recorded sales of INR 254 crores in Q2 FY25, marking a 1% increase compared to the same quarter last year.
• The company’s collections rose by 20% YoY to reach INR 133 crores, indicating improved cash flow.
• Ajmera Vihara, a newly launched project in Bhandup, saw strong market demand, with 49% of its inventory sold within a short period.
• The total sales value for H1 FY25 was INR 560 crores, reflecting a robust 18% year-on-year growth. 

The total sales area for the quarter was 1,14,046 square feet, reflecting strong demand across its portfolio. The company’s luxury projects like Ajmera Manhattan and Ajmera Prive continued to attract strong buyer interest, indicating the sustained demand for high-end properties. Additionally, Ajmera’s newly launched Ajmera Vihara at Bhandup has already sold 49% of its inventory, showcasing strong market acceptance.

In the first half of FY25, Ajmera Realty's total sales value reached INR 560 crores, reflecting an 18% increase year-on-year, further cementing its position in the real estate market.

For Q2 FY25, Ajmera Realty sold 1,14,046 sq. ft. of carpet area, with a sales value of INR 254 crores, up 1% year-on-year. Collections grew to INR 133 crores, showing a significant 20% rise compared to the same quarter last year. For the first half of FY25, sales value reached INR 560 crores, an 18% YoY growth.

Commenting on the Company’s operational performance for Q2FY25, Mr. Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, "In Q2FY25, we have achieved a stable performance with sales contributions coming from across our diverse portfolio. Ajmera Vihara, launched last quarter is already 49% sold, showcasing our ability to meet market expectations effectively. Ajmera Manhattan and Ajmera Prive sustenance sales achieved about 24% each in the quarter out of its available inventory. Along with this, the first phase of Ajmera Greenfinity is fully sold out. Our strategy to sale preleased units at Ajmera Nucleus, commercial project in Bengaluru achieved about 29% sales in the quarter out of its available inventory. On the strength of sales from the existing projects with several launches scheduled in the second half of FY25 during the festive season, we are confident in achieving our annual guidance and progressing towards our ambitious growth strategy. The positive sector outlook, supported by favorable regulations aimed at enhancing transparency and accountability, favors established players like us. Looking ahead, we are highly optimistic about the continued growth of the real estate market. We remain committed to delivering exceptional value to our stakeholders as we capitalize on the emerging opportunities in the market."

About Ajmera Realty & Infra India Limited

Ajmera Realty & Infra India Limited (ARIIL) is a well-established name with a presence across India. The company holds significant development potential on its remaining land at Ajmera I-Land, Bhakti Park, Wadala, and Central Mumbai. Current projects include “Manhattan,” “Prive,” and “Eden” in Mumbai, along with “Ajmera Lugaano” and “Ajmera Florenza” in Bengaluru. Focused on premium developments in the luxury and mid-luxury residential segment, the Group is built on trust and delivers reliable solutions for buyers. The next generation of the Group embraces the philosophy of "KEEP EVOLVING," leveraging advanced strategies, systems, planning, and technologies to create value for all stakeholders.

Key Takeaways from the Agreement

• Premier Energies will supply 173.35 MWp of solar modules using the latest Topcon technology.
• The solar modules are for BN Hybrid Power-1's 300 MW FDRE project located in Barmer, Rajasthan.
• The contract is a one-time agreement, with module deliveries commencing in July 2025.
• The agreement is purely domestic, and there is no involvement of related party transactions or promoter interest. 

As per a stock exchange filing, this deal involves Premier Energies supplying 173.35 MWp of solar modules equipped with advanced Topcon technology for a 300 MW wind, solar, and energy storage project in Barmer, Rajasthan. The delivery of these modules is set to begin in July 2025, marking a significant step in renewable energy initiatives in the region.

About Premier Energies Limited

Premier Energies Limited, a leading manufacturer of solar cells and modules, was established in 1995 and is backed by private equity investor GEF Capital based out of Washington DC. Located on 44.91 acres of land in Telangana, the company operates advanced manufacturing facilities that have an in-house capacity to produce solar cells at 2 GW and solar modules at 3.36 GW as of March 2024. The company is currently under development of new Topcon Cell and Module lines for its newly developed facility on 75 acres.

Key Takeaways from Gensol Engineering Order Book: 

• Gensol Engineering announced on October 8 that its solar EPC order book has exceeded Rs 4,000 crore, now totaling Rs 4,097 crore as of September 2024.  
• This amount corresponds to a total capacity of 1.5 GW, including projects from public sector undertakings and private clients, expected to be completed in 12 to 18 months.  
• The order book breakdown includes Rs 2,327 crore in PSU projects, Rs 1,193 crore in private projects, and Rs 686 crore in other orders.  
• Gensol has also secured orders for Battery Energy Storage Systems (BESS), boosting its revenue potential in the renewable energy sector.

The figure represents a total capacity of 1.5 GW and includes projects from both public sector undertakings and private clients, set to be completed within 12 to 18 months.

The breakdown of order book includes various projects namely PSU projects of Rs 2,327 crore, private projects worth Rs 1,193 crore and other orders of Rs 686 crore.

In addition to its solar projects, Gensol has secured orders for Battery Energy Storage Systems (BESS), enhancing its revenue potential in the renewable energy sector.

Commenting on the Order Book, Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering said, “With an unexecuted order book of over INR 4,000 Crore, we are poised for a significant leap in India’s rapidly expanding solar sector.”

“Beyond this, our achievements in Battery Energy Storage Systems (BESS) under the BOO model and power generation have helped diversify our operations and expand our total solar and battery storage revenue visibility to over INR 9,000 Crore,” added Jaggi.

About Gensol Engineering Limited:

Gensol Engineering Limited was established in 2012 and is a key player in renewable energy, focusing on solar power and electric vehicle (EV) solutions. With a skilled team of over 500 people, the company is involved in solar engineering, procurement, and construction (EPC) services. It ranks among the top 10 EPC companies in India and has completed over 770 MW of solar projects, including rooftop and ground-mounted systems. In September 2023, Gensol enhanced its offerings by acquiring Scorpius Trackers, a company that provides advanced solar tracking solutions.

Gensol also runs a modern EV manufacturing facility in Chakan, Pune, capable of producing 30,000 vehicles a year. This facility is designed for urban fleets and cargo, aiming to transform India's EV market. Gensol offers leasing solutions for electric vehicles to various clients, including government and educational institutions. Additionally, the company is working on Battery Energy Storage Systems (BESS) and developing infrastructure for Green Hydrogen Production through EPC services.

Key Takeaways from the RITES Share Surge

• RITES share price jumped 7% on October 9, 2024, after the MoU announcement.
• The collaboration focuses on the supply/leasing of rolling stock, project management, and maintenance of railway infrastructure in the UAE.
• A key aspect of the partnership includes capacity analysis of rail corridors to improve efficiency and enhance trade routes.
• Both parties will explore advanced IT solutions for train operations and focus on workforce development through training programs and employee exchanges.

The MoU, signed between Mr. Rahul Mithal, Chairman & Managing Director of RITES Ltd., and Mr. Shadi Malak, CEO of Etihad Rail, during the Global Rail Transport Infrastructure Exhibition & Conference in Abu Dhabi, aims to leverage both entities' strengths to deliver modern, efficient, and innovative rail services.

About RITES Limited

RITES Limited is a Navratna Public Sector Enterprise and one of the prominent transport consultancy and engineering firms in India, offering a wide range of services and having a vast geographical reach. The 50-year-old firm has implemented projects in more than 55 countries in Asia, Africa, Latin America, the South American continent, and the Middle East; its achievements have left indelible footprints.