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The company’s newly launched Bengaluru project Ajmera Iris contributed to the business performance during the quarter. Ajmera Iris sold 47% of its inventory during the quarter.
In a filing on Thursday, Ajmera Realty reported a 59% increase in its overall sales area to 1.65 lakh square feet. Collections increased by 10% from last year to ₹167 crore.
Another key project of the company, Ajmera Vihara, achieved 16% sales during the first nine months of the current financial year.
For the first nine months of the financial year, Ajmera Realty’s sales increased by 14% from last year to ₹830 crore, while collections grew by 25% from last year to ₹464 crore.
“Our launched portfolio accounted for over 40% of our sales in the nine-month period, reflecting our alignment with market expectations. We are optimistic about launching new projects in the upcoming quarter, supported by improved market sentiment driven by the Reserve Bank of India’s steady repo rate and anticipated rate easing,” Dhaval Ajmera, Director of Ajmera Realty & Infra India Ltd, said.
Following the successful completion of the recent preference issue, the company is positioned to achieve its target of 5x growth, the statement added.
Shares of Ajmera Realty are down to the lowest point of the day after gaining as much as 4% earlier. The stock is now trading at ₹1,122.25. The stock is down over 8% from its recent peak of ₹1,224.
