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.
The developer sold 1,03,573 sq ft space in the December quarter, up 63% from a year ago. The 98% on-year growth in sales value is attributed to sustained interest in key projects, Ajmera Manhattan and Ajmera Eden in Mumbai, as well as projects in Bengaluru, the company said.
Ajmera Realty & Infra India: Ajmera Realty s net consolidated total income stood at Rs 147.59 crore in Q2 FY24, a dip of 21.13 per cent from Rs 187.14 crore it recorded in the similar quarter last year.
Ajmera Realty & Infra India: In September 2023, Anirdesh Developers, a subsidiary of the company, had signed a development agreement with the landowner for an SRA redevelopment project situated on LBS Marg in Bhandup, Mumbai.