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.