Ajmera Realty & Infra, which is targeting 15% growth in FY12, expects its Bhakti Park and Bangalore projects to be major revenue earners.

In an interview to CNBC-TV18, RS Ajmera, managing director, Ajmera Realty & Infra said, "We are quietly hopeful of crossing last year's turnover of Rs 150 crore. It could be around 15-20% this year. Last year we posted profits of Rs 23 crore and this time also we are likely to cross that figure."

Further, the company will be announcing its Kanjur Marg project in the next financial year.

Below is the edited transcript of Ajmera’s interview with CNBC-TV18. Also watch the accompanying video.

Q: We do understand that you are expecting about a 15% growth in FY12 on a year on year basis. Can you take us through where do you see the maximum demand or traction coming in from?

A: This year our two main projects are the Bhakti Park project and Bangalore project by our subsidiary, these two projects are catching major revenues for us.

Q: How much do you expect in terms of Bangalore project and Bhakti Park project in terms of prices and contribution?

A: As far as contributions are concerned, this year the market looks pretty unexpected. By seeing the present market condition we can’t predict the contribution. But we are quietly hopeful of crossing last year's turnover of Rs 150 crore. It could be around 15-20% this year. Last year we posted profits of Rs 23 crore and this time also we are likely to cross that figure.

Q: Are you seeing a lot of interest from NRI investors going forward already?

A: Yes, because of the rupee’s depreciation.

Q: What are the new projects coming up?

A: We had already mentioned that we have started building in Enigma at Ahmadabad. We are in the process of launching our second project at Bhakti Park.

Q: Besides residential any other segments that you could possibly be seeing some amount of traction perhaps interest in segments like office space or commercial?

A: We are likely to announce our Kanjur Marg project in the next financial year. Kanjur Marg projects has got a mix -it has hospitality, hotel, commercial, retail and residential project. We are a debt free company. We are in search of good property for creating land bank on pan India basis.

Q: What exactly does your land bank stand at right now and how much would you possibly scale it up to? Give us a sense on which areas would you look at scaling it up to, because you have exposure in Ahmadabad etc. Would those be places where you are seeing a little more traction in terms of prices?

A: As far as creating land bank is concerned, Bangalore, Ahmadabad and Pune are our priority areas.