Ajmera Realty and Infra India Ltd - Operational Update for Q2 FY23

Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA), a leading real estate company with a pan India presence, announced its operational numbers for Q2 FY23.

The summary of Operational performance for Q2 FY23, at a consolidated level is as under:

Key Highlights:

- H1 FY23 Sales Value at Rs. 566 Cr, up 181% YoY
- H1 FY23 Volume sold at 2,37,415 sq ft, up 106% YoY
- Q2 FY23 Sales Value at Rs. 166 Cr, up 82% YoY
- Q2 FY23 Volume sold at 79,976 sq.ft., up 49% YoY

Ajmera Realty & Infra India Limited (ARIIL) recorded sales value of INR 166 Cr in Q2 FY23, the quarter registered an exponential increase as compared to the Rs. 91 Cr in Q2 FY22. The carpet area sold by ARIIL was 79,976 Sq.ft. in Q2 FY23 which was an incremental growth of 49% from 53,801 Sq. ft in Q2 FY22. The company is confident to maintain the sturdy growth in pre-sales driven by new launches as well as ready-to-move in inventory.

Commenting on Q2 FY23 operational performance, Mr. Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd said "We are pleased to report that in the first half of FY23, our sales grew 181% by value to Rs. 566 Cr and collection increased by 44% to Rs. 312 Cr on YoY basis. Despite all the headwinds, we have continued to charter a growth trajectory with strong pre-sales and are uniquely positioned on account of strong cash-flows, quality land bank and a diversified pipeline of new projects. While we expect challenges due to rising mortgage rates in the future, the impact of this would be likely insignificant given the latent demand in real estate sector. As announced earlier we are geared up for new launches in the coming quarters as part of our overall strategy to grow and gain market share."

Source : Equity Bulls

Keywords

AjmeraRealtyandInfraIndia Q2FY23 OperationalUpdate