Shares of Ajmera Realty & Infra India rallied after the company reported best ever yearly sales performance clocking 93 percent growth in FY23. The company said its sales reached Rs 834 crore while collection stood at Rs 532 crore.
Ajmera Realty said it recorded a sales value of Rs 140 crore in Q4FY23. The quarter registered an increase of 10 percent in sales as compared to the Rs 128 crore in Q3FY23. The carpet area sold by the company was 69,209 Sq.ft. in Q4 which was an incremental growth of 9 percent from the 63,595 Sq. ft in Q3.
“Robust sales and a good construction pace have resulted in firm growth of 35 percent YoY in collections for FY23. The Company firmly believes that its strong cash generation will pave the way for business development prospects and debt deleveraging, thereby enhancing growth visibility,” Ajmera said in a release.
At 11.30 am, the stock traded 5.19 percent to Rs 310 apiece on BSE.
“We are excited to double our launch pipeline in FY24, with the aim of garnering Rs 2000 crore of estimated gross sales towards this effort,” said Dhaval Ajmera, Director, Ajmera Realty. “In addition, we are currently in active discussions towards the JV/JD/DA low capex acquisitions, which will further strengthen our pipeline. Having already launched half a million sq.ft. last year, we are optimistic about our growth prospects.”
Despite the optimistic numbers, last one year’s price performance has not been good. The stock has fallen 17 percent in the period. Though in the last six months, it has risen 16 percent.
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