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HomeNewsBusinessMarketsAjmera Realty soars 5.5% after healthy Q2 business updates

Ajmera Realty soars 5.5% after healthy Q2 business updates

Ajmera Realty remains confident of achieving its sales guidance by the second half of FY25, fueled by the upcoming festive season and strong demand.

October 09, 2024 / 11:13 IST
Ajmera Realty stock surged 51 percent year-to-date.
     
     
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    Shares of Ajmera Realty and Infra India soared 5.5 percent on October 9 after the company released healthy business updates for the July-September quarter. At 11.04 am, shares of Ajmera Realty were trading at Rs 668 on the NSE.

    The company's sales value for the quarter rose 1 percent on year to Rs 254 crore while collections rose 20 percent to Rs 133 crore. Sales contribution came from across the portfolio on the back of the sustaining demand for the existing projects.

    Ajmera Manhattan and Ajmera Prive, the luxury offerings, gathered a strong response, reflecting a high demand for premium properties. Meanwhile, Ajmera Vihara in Bhandup, launched last quarter, has already sold 49 percent of its units, reflecting success in the first phase within this emerging micro market.

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    "On the strength of sales from the existing projects with several launches scheduled in the second half of FY25 during the festive season, we are confident in achieving our annual guidance and progressing towards our ambitious growth strategy," Dhaval Ajmera, Director, Ajmera
    Realty and Infra India said in an exchange filing.

    "The positive sector outlook, supported by favorable regulations aimed at enhancing transparency and accountability, favors established players like us. Looking ahead, we are highly optimistic about the continued growth of the real estate market," Ajmera added.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

     

    Moneycontrol News
    first published: Oct 9, 2024 11:12 am

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