Ajmera Realty Achieves 81% Sales in New Residential Project Launch
Filing Summary
Ajmera Realty & Infra India Ltd launched Phase 1 of its residential project, Ajmera Solis, in Vikhroli, Mumbai, achieving an 81% sell-out within 24 hours. The project generated sales of approximately INR 427 Crore, with 324 units sold, covering 1.94 lakh sq. ft. of carpet area. The development includes 1, 2, and 3 BHK units priced under INR 1 crore, INR 1.6 crore, and INR 2.25 crore, respectively. The project is supported by a strategic INR 88 Crore investment from a private equity partner, ensuring financial closure and facilitating accelerated execution.
Ajmera Realty & Infra India Ltd announced the launch of Phase 1 of its residential project, Ajmera Solis, located in Vikhroli, Mumbai. The project achieved an 81% sell-out within the first 24 hours, with sales amounting to approximately INR 427 Crore. A total of 324 units were sold, covering a carpet area of 1.94 lakh sq. ft. This rapid sales performance was recorded against a total launched inventory of 2.40 lakh sq. ft.
The financial structure of the project includes a strategic investment of INR 88 Crore from a private equity partner. This investment marks the first private equity deal in the company’s portfolio. The project offers 1 BHK units priced below INR 1 crore, 2 BHK units below INR 1.6 crore, and 3 BHK units under INR 2.25 crore. These pricing points are designed to be accessible to a wide range of homebuyers. The project is financially closed out based on the current sales velocity, ensuring that the development can proceed without financial constraints.
The operational scope of Ajmera Solis includes the development of a multi-storey tower on land acquired from Tata Communications Ltd. The project benefits from a clean title and full development control, with no legacy tenants. The development is strategically located on the Eastern Express Highway, providing excellent connectivity to Mumbai’s key business districts. The project features Vastu-compliant residences with panoramic views of the mangroves, hills, city, and sea. Amenities include a gym, mini-theatre, banquet hall, library, business centre, kids play area, jacuzzi, and an infinity-edge swimming pool.
The project is designed as a Triple Net Zero Certified ecosystem, targeting zero-energy operations, a balanced water cycle, and advanced waste-management practices. This approach aims to reduce the environmental footprint of the development, offering residents a sustainable living environment. The project’s location and design cater to the needs of urban families seeking modern, well-planned living spaces with unobstructed views and accessible pricing.
The timeline for the project’s development is supported by the secured financial structure and strong sales performance. The involvement of a private equity partner further ensures the project’s timely execution. The strategic location and comprehensive amenities are expected to attract working professionals from Mumbai’s business districts.
**Ajmera Realty & Infra India Ltd** focuses on luxury and mid-luxury residential projects across India. The company is committed to delivering value through strategic expansion and innovative development models. Ajmera Realty continues to evolve its strategies and processes to meet the demands of modern urban living.