First nine months of FY23 records Ajmera Realty sale of 6.94 billion
Real Estate

First nine months of FY23 records Ajmera Realty sale of 6.94 billion

Sales value totaling INR 6.94 billion for Ajmera Realty had increased by 124% YoY. In the first nine months of the fiscal year 2023, it also saw a 42% increase in its collection of INR 4.29 billion. By recording total yearly sales of INR 6.94 billion as opposed to INR 4.31 billion in FY22, the company outperformed its total annual sales by 1.6 times in the first nine months of FY23. The real estate company also had a quarterly increase in revenues of 19%, from INR 1.08 billion in the same quarter last year to INR 1.28 billion in the third quarter that concluded in December.

The amount of carpet sold in the third quarter was 63,595 square feet as opposed to 62,285 square feet during the same time last year. The company added in a release that the sold area also includes a freshly launched project in Juhu that recorded sales of more than 10% of the possible sales upon receipt of RERA registration during the quarter.

According to the company, this additional value is a translation of the sales velocity that was predominantly seen across recently launched projects in Mumbai during the period. Additionally, it has stated confidence in its capacity to sustain the positive pre-sales growth momentum, which will help it gain market share.

Residential real estate is primed for robust growth and the industry will depend on elements like innovation, digitization, and customer experience, he noted. A positive economic outlook will continue to promote first-time homebuyers.

Sales value totaling INR 6.94 billion for Ajmera Realty had increased by 124% YoY. In the first nine months of the fiscal year 2023, it also saw a 42% increase in its collection of INR 4.29 billion. By recording total yearly sales of INR 6.94 billion as opposed to INR 4.31 billion in FY22, the company outperformed its total annual sales by 1.6 times in the first nine months of FY23. The real estate company also had a quarterly increase in revenues of 19%, from INR 1.08 billion in the same quarter last year to INR 1.28 billion in the third quarter that concluded in December. The amount of carpet sold in the third quarter was 63,595 square feet as opposed to 62,285 square feet during the same time last year. The company added in a release that the sold area also includes a freshly launched project in Juhu that recorded sales of more than 10% of the possible sales upon receipt of RERA registration during the quarter. According to the company, this additional value is a translation of the sales velocity that was predominantly seen across recently launched projects in Mumbai during the period. Additionally, it has stated confidence in its capacity to sustain the positive pre-sales growth momentum, which will help it gain market share. Residential real estate is primed for robust growth and the industry will depend on elements like innovation, digitization, and customer experience, he noted. A positive economic outlook will continue to promote first-time homebuyers.

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Next Story
Infrastructure Urban

Govt Plans Six-Month Import Relief for E-Bus, Truck Makers

The government is considering a six-month relaxation for electric bus and truck manufacturers, allowing them to import fully assembled motors containing heavy rare earth materials without losing eligibility for incentives under the Rs 109-billion PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme.The relief is expected to benefit companies such as Tata Motors, Ashok Leyland, PMI Electro Mobility, JBM Auto, EKA Mobility, Olectra Greentech, Propel, and IPLT Demo. The exemption will apply provided all other localisation requirements are met.However, officials clari..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?