Ajmera Realty -; Infra reports higher profit at Rs9.71cr for Q3FY22; Stocks hits lower circuit

9 Feb 2022 , 02:14 PM

Ajmera Realty & Infra India Ltd, a leading real estate company with pan India and international presence, announced its Q3 & 9M FY22 financial results on Tuesday. The company has reported revenue of Rs69cr during the period ended December 31, 2021, as compared to Rs12cr during the period ended December 31, 2020.

The company has posted a net profit of Rs9.71cr for Q3FY22 as against a net profit of Rs7.90cr for Q3FY21.

The company reported Profit After Tax (PAT) at Rs31cr in 9MFY22, up 77%, PAT Margin at 10%. Revenue of the company increased 12% yoy at Rs305cr in 9MFY22; up 12% yoy. Sale Value at Rs310cr; 216 Number of units sold in 9MFY22.

Collections at Rs301 crore, up 8% yoy. EBIDTA at Rs80cr up 7% yoy, EBITDA Margin at 26%.

PBT at Rs42cr: up 70%, PBT Margin at 14%.

At around 2.16 pm, Ajmera Realty & Infra India Ltd was trading at Rs394 per share down by Rs19.85 or 4.8% from its previous closing of Rs413.85 per share on the BSE. The scrip opened at Rs423.40 and has touched a 5% lower band low of Rs393.20 per share on Wednesday.

Dhaval Ajmera, Director — Ajmera Realty & Infra India Limited said: “Despite the ongoing pandemic-led challenges, the real estate sector has been strongly navigating uncertainty & has bounced back significantly in the previous quarters. The growing demand for homeownership as well as larger homes, affordable prices, renewed buyer confidence, low interest rates and stamp duty benefits have been the main driving forces for such robust growth in this sector.

The decrease in the severity of infections along with remarkable progress in vaccinations and gradual unlocking has further added impetus to the overall economic growth.”

He added, “at Ajmera Realty we have maintained the sustained momentum towards our 5x growth plan, which is reflective from the announcement of prominent launches, acquisitions, improved performance metrics and operational efficiency.”