Ajmera Realty spurts after Q1 sales value leaps 261% YoY

7 Jul 2022 , 02:54 PM

The sales value jumped 229% last quarter compared with Rs 122 crore posted in Q4 FY22. The real estate company said that the quarter registered an exponential increase in sales value as compared to Rs 431 crore which the company clocked for the entire fiscal of last year. Additionally, sales velocity has been observed in a quarter despite headwinds from the introduction of metro cess, higher input costs and upward revision of the repo rate, it added. The firms carpet area sales stood at 1,57,438 sq.ft in Q1 FY23, registering a surge of 155% year on year (YoY) and 130% quarter on quarter (QoQ). The companys collection grew 93% YoY and 126% QoQ to Rs 210 crore in Q1 FY23. Commenting on Q1 FY23 operational performance, Dhaval Ajmera, the director of Ajmera Realty & Infra India said, ?The company performed exceptionally well during Q1 FY23 on the back of the Ajmera Manhattan launch during April 2022. Despite the high input cost scenario and projected high interest environment, we are observing a positive momentum from the home buyers. As announced earlier it will be our endeavor to launch new projects in FY23 and take the growth momentum forward.? Ajmera Realty & Infra India has a PAN India presence along with an international presence in locations viz. Bahrain and London. The company has a huge development potential available on its balance land parcel at Mumbai, Bengaluru and Ahmedabad. On a consolidated basis, net profit of Ajmera Realty & Infra India rose 12.3% to Rs 14.01 crore on 129.3% jump in net sales to Rs 180.51 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market – Live News