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#Ajmerarealty - project execution, faster land monetization and profit visibility can re-rate stock

MMR remains the best market for RE in India because of good demand, realisations and limited supply.

Ajmera realty has got 20 Mn sq ft development potential similar to Oberoi
This is fully owned and completely paid for as against Oberoi where part of it is under JDA and DM model.

Both are MMR focused players.

Oberoi generated 1650 cr projects revenue, 322 cr rentals in FY21. Ajmera will have similar P&L after 5 years with almost 1500 cr project
revenue and 300 cr rentals

MCap of Oberoi is 27500 cr wheras Ajmera is only 1250 crs.

Ajmera has 3 Mn sq ft resi and 3 Mn sq ft commercial in Wadala and 12.5 Mn sq ft in Kanjur marg. It is readying project pipeline to monetize current land bank and looking for more JDA and DM
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