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Ajmera Realty & Infra India Q3 FY23 sales value up 19% YoY

Jan 9, 2023

By: BlinkX Research Team

The company’s sales value fell by 23% last quarter compared with Rs 166 crore posted in Q2 FY23. 

The firm's carpet area sales stood at 63,595 sq.ft in Q3FY23, registering a growth of 2% YoY. The carpet area sold in Q3 FY23 includes a recently launched project at Juhu which clocked sales of over 10% of the sales potential on receipt RERA registration during the quarter. 

On a QoQ basis, carpet area sales dropped by 20% from Rs 79,976 crore recorded in Q2 FY23. The company's collection grew 40% YoY and 14% QoQ to Rs 116 crore in Q3 FY23.

Ajmera Realty & Infra's sales value stood at Rs 694 crore in Q2 FY23, registering a surge of 124% YoY. The company's Carpet area sales climbed 69% YoY to Rs 3,01,010 sq.ft in Q3 FY23.

Dhaval Ajmera, director, Ajmera Realty & Infra India, said, “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 crore in 9M FY23 have even surpassed that of FY21 which was outstanding for the company and sector in general at Rs 615 crore.

In 9M FY23, the company 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 the growing demand for 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.