Ajmera Realty continues to deliver strong operating performance in H1FY22

The company’s PAT stood at Rs22cr in H1FY22; up 121% yoy; Revenue at Rs235cr, up 57% yoy.

November 12, 2021 3:12 IST | India Infoline News Service
Ajmera Realty & Infra India Ltd delivered strong revenue and profitability for the half-year as a result of impressive construction progress, steady sales book, and an increase in the number of units sold, the company said in a filing on Thursday.

The company’s total revenue for the first half-year of the current fiscal stood at Rs235cr; up 57% yoy compared to Rs149cr in the same period of last fiscal.  Sales advances at Rs217cr; up by 95% yoy. The company sold 139 units with a total area of 1,69,082 sft.

The Profit After Tax (PAT) stood at Rs22cr in H1FY22; up 121% yoy compared to Rs2.76cr in H1FY21. Profit Before Tax at Rs29cr; up 103% yoy from Rs14cr. EBIDTA at Rs59cr, up 38% yoy from Rs43cr. EPS at Rs6.11, up 121% from Rs2.76.

“The Company has achieved strong operating performance with growth in profit margins, continued debt reduction with good performance on key financial parameters for H1FY22.

Company has shown adequate financial performance with strong cashflow visibility with mid stage projects moving into revenue recognition stage while advance stage projects almost sold.

Commenting on the H1FY22 performance, Dhaval Ajmera, Director – Ajmera Realty & Infra India Limited said, “As one of India’s leading real estate Company, it has been our endeavor to be a dominant player in residential segment and create value for all stakeholders. The improved pandemic scenario and the low home loan rates have provided the required traction to our ready‐to‐ move and under‐construction projects. We are on path of debt reduction. There are launches scheduled for three new projects this year in our effort to continue strong growth trajectory.”

At around 3.14 pm, Ajmera Realty & Infra India Ltd was trading at Rs343 per piece down by Rs3.4 or 0.98% from its previous closing of Rs346.40 per piece on the BSE.

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