Discover how Ajmera Realty & Infra India achieved remarkable growth with a 186% increase in profits, robust sales, and ambitious expansion projects. Learn about their strategic vision and financial stability driving their success in the real estate market.
Ajmera Realty & Infra Financial Performance
Real estate developer Ajmera Realty & Infra India has seen impressive growth in its financial performance for the quarter ending in December. Their consolidated net profit has soared by 186% compared to the same period last year, reaching Rs 30 crore. This significant increase in profit is accompanied by a substantial rise in sales, which have surged by 98% year-on-year to Rs 253 crore.
Sales and Profit Growth
The company attributes this success to robust sales and efficient project execution, leading to a 30% increase in collections from a year ago, totaling Rs 151 crore. With such positive momentum, Ajmera Realty & Infra India is confident in exceeding its sales target of Rs 1,000 crore for the current fiscal year.
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Expansion Plans and Project Pipeline
In line with their growth strategy, Ajmera Realty & Infra India recently entered a joint venture for the redevelopment of a housing society in Mumbai’s upscale Bandra West area. Both companies involved will hold a 50% stake in the project, which is projected to generate a Gross Development Value (GDV) of Rs 760 crores. The joint venture aims to develop a luxury residential project spanning approximately 130,000 sq ft for sale.
In summary, Ajmera Realty & Infra India’s impressive financial performance, expansion plans, and strategic initiatives position them well for continued growth and success in the real estate sector.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and NSE have contributed to the above report