Developer firm Ajmera Realty & Infra India has reported its net profit increase by 199% annually during the second quarter of the current financial year (Q2FY23). The company’s net profit stood at Rs 34 crore as on September 30, 2020, as compared to Rs 11 crore in the corresponding period last year (Q2FY22).
Announcing its financial results for the second quarter of the current fiscal on November 10, 2022, the company said its operating profit for the company increased 133% to Rs 58 crore in Q2FY23 when compared to Rs 25 core in Q2FY22, with operating margin of 31%.
Positive reception of some of its key housing projects in Mumbai and Bangalore housing markets has also resulted in the company witnessing its sales value in the September quarter growing up by 83% annually to Rs 166 crore. Sales volume for the quarter also increased 49%, at 79,976 square foot.
Collections for the quarter stood at Rs 102 crore.
Ajmera Realty & Infra India Limited (ARIIL), a developer of luxury and mid-luxury housing projects, primarily has a pan-India presence, with major projects located in MMR, Bangalore and Ahmedabad housing markets.
The company’s debt-to-equity ratio stands at 1.11 at Q2 FY23.
“The company delivered yet another successful half year performance with sales value of Rs 566 crore which is up 181% YoY, surpassing annual sales value of Rs 431 crore that we recorded in the previous fiscal. Our collection momentum remains strong, reflecting 44% YoY growth. The sales momentum also carried through to the bottom line with the PAT and PAT margin at Rs 46 crore and 19% which also surpassed the FY 22 levels,” said Dhaval Ajmera, director, Ajmera Realty & Infra India Limited.
An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
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