Multibagger Stock: Ajmera Realty records 190% return in one year, spiked over 580% in 3 years
Ajmera Realty & Infra India, one of India's leading real estate companies, have rewarded its shareholders handsomely as they consistently hit new record highs with each passing month. Over the past year, the stock has surged by nearly 190%, rising from ₹276.90 to the current market price of ₹802.60 per share. Notably, it has posted positive gains for 9 out of the last 12 months, with January and February showing the highest monthly returns of 31.53% and 26.28%, respectively.
Also Read: Mint Primer: Why PE funds are investing less in real estate In the current year, the stock has seen a remarkable increase of 82.52%, marking its best yearly performance since CY17. This impressive rally is attributed to the company's strong financial performance in recent quarters, which has bolstered investor confidence in the company. Zooming out, the shares have skyrocketed from ₹118 apiece to the current level, resulting in a whopping return of 585%.
The company is in the business of providing residential and rented commercial properties. It has a presence in cities like Mumbai, Bengaluru, and Ahmedabad in India, as well as in international locations like Bahrain and the UK. Also Read: General Elections 2024: Sectors in focus after BJP releases its manifesto Primarily concentrating on luxury and mid-luxury residential projects, it holds significant development opportunities across its land parcels, notably at Ajmera I-Land, Bhakti Park, Wadala, and Central Mumbai.
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