Ajmera Realty & Infra Q2 sales see 82% jump at Rs 1.66 bn

10 Oct 2022 CW Team

Realty developer Ajmera Realty & Infra India has recorded an 82% year-on-year jump in sales at Rs 1.66 billion for the quarter ended September. The quarterly performance has helped the company record a 181% growth in its sales at Rs 5.66 billion for the first half of the financial year 2022-23.

The developer has sold nearly 80,000 sq ft carpet area during the quarter. For the half year, the company’s sales volume rose 106% to over 237,000 sq ft, while collections saw a 44% rise at Rs 3.12 billion, the company said in a regulatory filing.

“We have continued to charter a growth trajectory with robust pre-sales despite all the headwinds, and are uniquely positioned on account of strong cash-flows, quality land bank and a diversified pipeline of new projects,” said Dhaval Ajmera, Director at Ajmera Realty.

While he expects challenges due to rising mortgage rates in the future, the impact of this, according to him, is likely to be insignificant given the latent demand in the real estate sector.

He said the company is geared up for new launches in the coming quarters as part of its overall strategy to grow and gain market share.

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