Ajmera Realty & Infra India Ltd reported a modest 1% rise in its sale bookings during the second quarter of the fiscal year 2024-25, recording INR 254 crore. However, the company experienced a significant 18% increase in total sale bookings during the first half of the current fiscal year, reaching INR 560 crore, reflecting its successful strategy in navigating market challenges and capitalising on the growing interest in the residential real estate segment. Headquartered in Mumbai, Ajmera Realty & Infra India Ltd. is one of the leading real estate developers in the country.
Ajmera Realty & Infra India Ltd., a prominent real estate developer, reported a slight increase of 1% in its sale bookings during the second quarter of the fiscal year 2024-25. The company recorded sale bookings of INR 254 crore, up from INR 252 crore in the corresponding period of the previous year, driven by strong demand for residential properties.
According to a regulatory filing, the company experienced a significant rise in its overall sale bookings during the first half of the current fiscal year. For the period from April to September 2024-25, Ajmera Realty reported total sale bookings of INR 560 crore, marking an impressive 18% increase compared to the INR 476 crore recorded in the same timeframe last year. This substantial growth reflects the company's successful strategy in navigating market challenges and capitalising on the growing interest in the residential real estate segment.
Headquartered in Mumbai, Ajmera Realty & Infra India Ltd. is one of the leading real estate developers in the country, known for its expertise in delivering quality residential projects. At present, the group has seven ongoing projects with around 11.31 lakh square feet of developer's share of saleable area. Five of these are more than 60% complete, and overall completion is around 51%. A strong collection, backed by positive sales momentum, will lead to adequate cash flows to fund construction. Of the saleable area, around 67% has been sold till March 2024, the company said.
The company has seven upcoming projects with a total carpet area of 1.7 million square feet and gross development value of INR 4,270 crores, for which the approval process has started. Additionally, the company has a land bank of 11.1 million square feet. The company recently acquired land from Tata Communications in Vikhroli, Mumbai. Its debt and corporate credit were also assigned an A- rating, with a stable outlook, from CRISIL, further solidifying its position as a leading real estate developer in the country.
Ajmera Realty & Infra India Ltd. has demonstrated resilience in the competitive real estate market, reporting a modest 1% increase in sale bookings during Q2 of FY 2024-25, driven by robust demand for residential properties. With a notable 18% rise in overall bookings for the first half of the fiscal year and several ongoing and upcoming projects, the company is well-positioned for future growth. Its solid financial standing, reinforced by a stable credit rating from CRISIL, underscores its commitment to delivering quality developments and enhancing shareholder value.
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