The DrawText function can take parameters after the color. You can supply an alpha value, and also a set of alignments. For example [ftaLeft, ftaTop], which is used in the example :
ftFont1.Hinted := true;
ftFont1.ClearType := true;
ftFont1.Quality := grqHighQuality;
ftFont1.SmallLinePadding := false;
drawer.DrawText(testtext, ftFont1, x, y, colBlack, [ftaRight, ftaBottom]);
ftFont2.Hinted := false;
ftFont2.ClearType := false;
ftFont2.Quality := grqHighQuality;
drawer.DrawText(testtext, ftFont2, x, y, colRed, 192, [ftaCenter, ftaBaseline]);
ftFont3.Hinted := false;
ftFont3.ClearType := false;
ftFont3.Quality := grqMonochrome;
drawer.DrawText(testtext, ftFont3, x, y, colBlack, 128, [ftaLeft, ftaTop]);