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Ajmera Realty reports impressive 52% surge in sales for Q2 FY24

Nov 1, 2023

By: BlinkX Research Team

Ajmera Realty & Infra India Ltd (ARIIL), a prominent real estate company, has unveiled its financial results for the second quarter and half-year ended September 30th, 2023. Notably, ARIIL has experienced substantial growth in various key metrics:

- Sales Value: INR 252 crores, a remarkable 52% YoY increase.
- Sales Volume: 1,20,787 sq. ft, up by 51% YoY.
- Launch Pipeline: Includes 7 projects covering 1.3 million sq. ft, with an estimated GDV of ~INR 2,750 crores.
- OC Receipts: Ajmera Sikova and Ajmera Greenfinity achieved Occupancy Certificates ahead of RERA timelines.

Mr. Dhaval Ajmera, Director, ARIIL, expressed satisfaction with the company's performance, attributing it to meticulous operational planning and dedicated business development efforts. Notable achievements include successful acquisitions, completion of pivotal projects, and strong sales momentum. The debt-to-equity ratio remains stable at 0.97x for Q2 FY24, sustaining a healthy financial position.

Confident in their 5x growth vision, ARIIL is halfway to its sales target of INR 1,000 crores for FY24. With a promising launch pipeline and expansive sales potential, the company's revenue visibility has extended to ~INR 4,750 crores.

Mr. Ajmera emphasized the company's commitment to providing quality living spaces that align with evolving homebuyer needs. He expressed optimism for sustained pre-sales growth, driven by ongoing and upcoming projects, ensuring a positive outlook for the company in the upcoming quarters.