Stock Report

Ajmera Realty & Infra India Ltd. records sales value of Rs. 694 crs. in 9M FY23

Posted On : 2023-01-09 11:24:36( TIMEZONE : IST )

Ajmera Realty & Infra India Ltd (ARIIL) (BSE: 513349 & NSE: AJMERA), a leading real estate company with a pan India presence, announced its operational numbers for Q3 & 9M FY23.

ARIIL clocks sales value of Rs. 694 crores and collection of Rs. 429 crores for 9M FY23 with a growth of 124% and 42% in sales value and collection respectively as compared to 9M FY22.

ARIIL has witnessed continued growth momentum in the quarter by achieving sales value of Rs. 128 crores in Q3 FY23 which was an incremental growth of 19% from Rs. 108 crores in Q3 FY22. The carpet area sold by ARIIL was 63,595 Sq.ft. in Q3 FY23 as compared to 62,285 Sq.ft in Q3 FY 22, which includes recently launched project at Juhu which clocked sales of over 10% of the sales potential on receipt RERA registration during the quarter.

In 9M FY23, the company has surpassed the total annual sales value of Rs. 431 crores in FY22 by 1.6 times to Rs. 694 crores. This incremental value is a translation of sales velocity witnessed primarily across newly launched projects in Mumbai during the period. This is a testament to improvising real estate economics in India and growing demand for the value generating residential assets by ARIIL. The company has expressed confidence in its ability to maintain the healthy pre-sales growth momentum which will further propel an increase in its market share.

Commenting on the operational performance for Q3 FY23, Mr. Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, "We are pleased to report that the Company has achieved strong results over the past three quarters of FY23. Our sales registered exponential growth of 124% in value and collection increased by 42% on YoY basis for 9M FY23. We are overwhelmed by the fact that sales of Rs. 694 crores in 9M FY23 has even surpassed that of FY21 which was outstanding for the Company and sector in general at Rs. 615 crores.

This growth demonstrates our team's commitment, customer experience and favorable market sentiments. We continue to focus on scaling our operations while maintaining a strong balance sheet. The sales for the quarter demonstrates the demand for our high-quality developments and our ability to meet the needs of our customers, obtained through inventory bookings in active projects, including the recently launched premium residences at Juhu, Ajmera Prive.

The Indian real estate market has been immune to market volatility and has been the most preferred asset class for investors irrespective of many ups and downs. A promising economic outlook will continue to encourage first time homebuyers. The Residential real estate is poised for strong growth and the market will ride on factors such as innovation, digitization and customer experience."

Shares of Ajmera Realty & Infra India Limited was last trading in BSE at Rs. 311.30 as compared to the previous close of Rs. 308.85. The total number of shares traded during the day was 8313 in over 827 trades.

The stock hit an intraday high of Rs. 316.70 and intraday low of 308.35. The net turnover during the day was Rs. 2594348.00.