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Real estate developer Ajmera Realty & Infra India reported a significant increase in consolidated net profit, up by 186% year-on-year to Rs 30 crore for the quarter ending in December. Sales also saw a notable rise, up by 98% year-on-year to Rs 253 crore. Collections increased by 30% compared to the previous year, reaching Rs 151 crore, attributed to strong sales and efficient project execution.
Though Sunteck Realty did not disclose the exact size of the land, industry sources said the two projects will come up on a cumulative land parcel of 1.5 acres
The project, which is expected to be launched in next calendar year, is a redevelopment that is expected to lead to a sale potential of ~3,42,000 sq. ft. of RERA carpet area with an expected Gross Development Value (GDV) of ~ Rs 1,200 crore.
The project in Malad area of Mumbai will include component of rehousing 342 existing members of both the societies, and this redevelopment will lead to sale potential of 3.42 lakh sq ft of RERA carpet area, according to company statement