Ajmera Realty & Infra cuts debt by Rs 100 crore to nearly Rs 700 crore

Ajmera Realty & Infra India Ltd connected Thursday said it has repaid Rs 100 crore of its firm indebtedness and accordingly the outstanding indebtedness has been reduced to Rs 693 crore.

The Mumbai-based institution successful a regulatory filing said it has "repaid Rs 100 crore of its firm debt. The repayment is facilitated from the funds raised done the caller equity offering of Rs 225 crore." The indebtedness simplification up of its scheduled owed day is expected to assistance the institution station amended returns connected grounds of little involvement payments connected existing debt, the institution said.

"Outstanding indebtedness has been reduced from Rs 793 crore (as per 2QFY25) to Rs 693 crore," Ajmera Realty said.

The institution plans to usage the equity funds to accelerate its momentum for task launches, and to further fortify its firm functionalities.

"This is simply a strategical determination towards de-leveraging, and we are gladsome to trim our firm indebtedness significantly. This workout volition assistance easiness our debt-equity ratio and reenforce the management's committedness to higher maturation and wealthiness instauration for its stakeholders," Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said.

He said the institution is committed to attain 5 times growth, and this determination is simply a important contributor towards that goal.