Ajmera Realty & Infra Q1 Results: Net profit zooms 82% YoY to Rs 21 crore; revenue surges 113%
Ajmera Realty & Infra India Ltd (ARIIL) has reported 82% year-on-year growth in net profit of Rs 21 crore for the quarter ended June. Revenue for the quarter rose 113% from a year ago to Rs 118 crore. The listed developer sold over 1.35 lakh sq ft space valued at Rs 225 crore during the quarter while recording collections worth Rs 111 crore.
The company’s operating profit for the quarter rose 112% to Rs 39 crore. “The robust growth in sales is attributed to the launch of a premium residential project in Mumbai’s Ghatkopar along with Bengaluru having a multiplier effect. Sales are expected to continue being driven by the strong demand for quality housing throughout the rest of the year,” said Dhaval Ajmera, Director, Ajmera Realty & Infra India.
The company is targeting a five-fold increase in sales by the year 2025 aided by timely delivery of projects, enhancing executional efficiency and strategically launching three new projects during the current financial year with a gross development value of Rs 1,800 crores, Ajmera said. According to him, the company is confident of strong revenue visibility estimated at Rs 3,960 crores from our ongoing projects and future launches. The company is planning to venture into new micro-markets in the second half of this financial year.
Read more on economictimes.indiatimes.com
