Ajmera Realty & Infra India Ltd (ARIIL) has repaid ₹100 crore of its corporate debt, reducing outstanding borrowings from ₹793 crore to ₹693 crore, the company announced in a press release today. The debt reduction was funded through a recent equity offering of ₹225 crore.
The shares of ARIIL were trading at ₹1,054, up by ₹9.15 or 0.88 per cent on the NSE today at 12.49 pm.
The strategic move aims to lower interest payments and improve the company’s financial profile. According to Dhaval Ajmera, Director of ARIIL, the repayment is part of the company’s commitment to de-leveraging and achieving its ambitious 5x growth target.
The company plans to utilize the remaining equity funds to accelerate project launches and enhance corporate functionalities. ARIIL currently has ongoing projects in Mumbai, including “Manhattan”, “Greenfinity”, “Bhandup”, “Prive”, and “Eden”, along with developments in Bangalore such as “Ajmera Lugaano” and “Ajmera Florenza”.
Focused on premium residential developments in luxury and mid-luxury segments, the company emphasizes its commitment to stakeholder value creation and continuous evolution through strategic planning and technological integration.