Ajmera Realty's net profit surges 58% in Q2 FY25

29 Oct 2024 CW Team

Ajmera Realty & Infra India reported a 58.26% rise in net consolidated profit for the quarter ended September 30, 2024. The company's profit after tax (before non-controlling interests) stood at Rs 362.9 billion, compared to Rs 229.3 billion in the same quarter last year, according to its filing with the Bombay Stock Exchange (BSE).

The company’s total consolidated income for Q2 FY25 increased by 38.30% to Rs 2.04 billion, up from Rs 1.47 billion recorded during the corresponding period of the previous fiscal.

Dhaval Ajmera, Director at Ajmera Realty, stated, "We have a strong project pipeline with seven launches planned in the second half of FY25, having a gross development value (GDV) of Rs 42.70 billion."

In the first half of FY25, Ajmera Realty achieved an 18% growth in sales value to Rs 5.6 billion, compared to Rs 4.76 billion in H1 FY24. Collections also rose by 34%, reaching Rs 2.98 billion in H1 FY25, up from Rs 2.22 billion in the same period last year.

The company recently raised Rs 2.25 billion through preferential equity allotment and completed its first private equity deal with a domestic institutional investor. (ET)

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