Ajmera Realty's Q1 FY24 sales surge to INR 225 Crores, growth continues for another stellar year ahead

Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA), a leading real estate company with a pan India presence, announced its operational numbers for Q1 FY24.

The summary of our Operational performance for Q1 FY24, at a consolidated basis is as under:

Key Highlights for Q1 FY24:

- Sales volume stood at 1,35,460 sq. ft. (carpet area)
- Sales Value stood at INR 225 crores
- Collection stood at INR 111 crores
- Ajmera Eden, premium residences in Ghatkopar has opened its sales booking during mid of the June month and recorded sales of over 14% of its sales potential

ARIIL clocks sales value of INR 225 crores and collection of Rs. 111 crores for the Q1 FY24, witnessing growth of 60% and 8% respectively on Q-o-Q basis as compared to Q4 FY23.

ARIIL has achieved remarkable sales performance in Q1 FY24, with a significant sales area of 1,35,460 Sq.ft. This marks an impressive 96% increase in the trailing quarter reflecting positive & continued market sentiment, though year-on-year comparisons are not comparable due to a massive sales launch included of Manhattan last year. During Q1 FY24, the sales growth was driven by the implementation of a revamped sales strategy for our Bangalore projects. Additionally, the successful launch sales of Ajmera Eden, which commenced in June 2023, contributed significantly to the sales growth.

Commenting on the Company's operational performance for Q1 FY24, Mr. Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, "ARIIL has achieved sales of INR 225 crores during Q1, showcasing our commitment to delivering outstanding results following a successful FY23 and setting the stage for a promising year ahead. The outstanding results reflect the successful implementation of our revamped sales strategy and the positive impact of the new launch of Ajmera Eden during the quarter. Our performance aligns seamlessly with our 5x growth strategy, demonstrating our commitment to driving substantial growth and creating lasting value.

Looking ahead, we are highly optimistic about the favorable market conditions in the real estate sector. With stabilizing interest rates, we are witnessing a notable upturn in customer sentiment and a strong inclination to purchase from trusted brands like ours. Furthermore, we have a robust launch pipeline, which significantly bolsters our confidence in achieving our growth objectives and generating enduring value for all stakeholders."

Shares of Ajmera Realty & Infra India Limited was last trading in BSE at Rs. 360.95 as compared to the previous close of Rs. 365.15. The total number of shares traded during the day was 6102 in over 445 trades.

The stock hit an intraday high of Rs. 372.00 and intraday low of 359.00. The net turnover during the day was Rs. 2212570.00.

Source : Equity Bulls

Keywords

AjmeraRealtyandInfraIndia INE298G01027 Q1FY24 OperationalUpdate