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Ajmera Realty reports sales surge in Q2 FY24; Adds 3 new projects

Oct 10, 2023

By: BlinkX Research Team

Ajmera Realty, a prominent real estate player, has recorded a substantial 52% increase in sales value for the period of July to September this fiscal year. The company's sales value soared to Rs 252 crore during this quarter, a notable rise from the previous fiscal's Rs 166 crore in the same period.

In terms of carpet area, Ajmera Realty successfully transacted 1.20 lakh sq ft, marking a 51% increase from the corresponding quarter last year, which saw 79,976 sq ft sold.

The positive sales momentum was further reflected in trading volumes, with 11 lakh shares exchanging hands on the exchanges, a significant surge compared to the one-month daily traded average of 81,000 shares.

This robust performance has generated optimism among investors, who anticipate a strong quarterly performance from the real estate giant in its July-September earnings report.

Furthermore, the company has made strategic acquisitions, adding three projects with a Gross Development Value (GDV) of approximately INR 800 crores. These projects offer a substantial sales potential of about 4.4 lac sq. ft. They include the redevelopment of four societies at Yogi Nagar, Borivali, with a sales potential of approximately 1.07 lac sq. ft., a SRA redevelopment project at Bhandup with an initial phase development of roughly 1.7 lac sq. ft., and a joint development agreement for a 69% stake at Electronic Phase 2, Bengaluru, with a sales potential of about 1.62 lac sq. ft.