Shares of Ajmera Realty were sharply higher by 8 percent earlier in the day, after the company posted strong sequential growth in operational numbers, and the management talked about a '5x growth strategy' and sounded upbeat about the project pipeline with estimated Gross Development Value of about Rs 4,300 crore.
At 12.00 noon, shares of Ajmera Realty had cooled off from highs but still higher by 2.6 percent at Rs 743 per share. The stock has risen 60 percent in the past six months, significantly outperforming the Nifty 50 which is up 13 percent during the same period.
For Q1 FY25, Ajmera Realty's sales area stood at 1.30 lakh sq. ft indicating a 3 percent year-on-year decline but a 16 percent sequential growth. The company reported a robust 36 percent year-on-year increase in sales value, reaching Rs 306 crore, compared to Rs 225 crore in the year ago period.
Reacting to the numbers, the Director of Ajmera Realty, Dhaval Ajmera said, "...Reflecting on FY24, it has indeed been a stellar year for us and Q1FY25 began with significant progress marching towards our full year guidance. Our achievements underscore our commitment to future growth and moving forward to an ambitious 5x growth strategy. Looking ahead, we are optimistic about our substantial pipeline of 7 new projects having estimated GDV (Gross Development Value) of about Rs 4,300 crores."
"The sector outlook remains positive, supported by new MahaRERA (Maharashtra Real Estate Regulatory Authority) regulations aimed at enhancing transparency and accountability, expected to benefit established players like us," Ajmera said.
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A significant contributor to this surge is the recently launched Ajmera Vihara at Bhandup, which sold 27 percent of its inventory at launch. Additionally, Ajmera Greenfinity AB continued its sales momentum, with 38 percent of inventory sold within less than two quarters of its launch period. A strong interest from homebuyers was also notable in other projects such as Ajmera Manhattan and Ajmera Prive.
Collections during the quarter saw an increase of 49 percent year-on-year, totalling Rs 165 crore.
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