Ajmera Realty records Rs 694 crore sales in first nine months of FY23

Ajmera Realty has witnessed a growth of 124 per cent on a year-on-year basis (YoY) in sales value worth Rs 694 crores. It also recorded a rise of 42 per cent in its collection worth Rs 429 crores in the first nine months of the financial year 2023.

In the first nine months of FY23, the company surpassed the total annual sales  by 1.6 times as compared to last year as it recorded a total annual sales of Rs 694 crores as against Rs 431 crores in FY22.

The realty firm has also witnessed a quarterly growth of 19 per cent on sales  which was worth Rs 128 crores in the third quarter that ended in December as against  Rs 108 crores in the same quarter, last year.

During the third quarter, the carpet area sold was 63,595 sq ft as compared to 62,285 sq ft in the same period last year. The sold area also included a recently launched project at Juhu which clocked sales of over 10 per cent of the sales potential on receipt RERA registration during the quarter, the company said in a release. 

This incremental value is a translation of sales velocity witnessed primarily across newly launched projects in Mumbai during the period, the company said. It has also expressed confidence in its ability to maintain the healthy pre-sales growth momentum which will further propel an increase in its market share.

Commenting on the operational performance for Q3 FY23, Dhaval Ajmera, director, Ajmera Realty & Infra India said, “We are pleased to report that the Company has achieved strong results over the past three quarters of FY23 and our sales have registered an exponential growth of 124 per cent in value and collection increased by 42 per cent on YoY basis for 9M FY23.”

He said that the Indian real estate market has been immune to market volatility and has been the most preferred asset class for investors irrespective of many ups and downs.

A promising economic outlook will continue to encourage first time homebuyers and residential real estate is poised for strong growth and the market will ride on factors such as innovation, digitization and customer experience, he added.