Ajmera Realty Q1 sales down 44% on year
Real Estate

Ajmera Realty Q1 sales down 44% on year

Realty developer Ajmera Realty & Infra India has reported 44% on-year decline and 60% sequential rise in sales value at Rs 225 crore for the quarter ended June. The listed company sold over 1.35 lakh sq ft carpet area during the quarter, down 14% from a year ago and up 96% from the previous quarter.

According to the company, the year-on-year comparisons are not comparable due to a massive sales launch of one of its projects, Manhattan, last year.

During the June quarter, the sales growth was driven by the implementation of a revamped sales strategy for its projects in Bangalore. Additionally, the successful launch sales of Ajmera Eden that commenced last month, recording 14$ of its sales potential, contributed significantly to the sales growth.

“Our performance aligns seamlessly with our 5x growth strategy, demonstrating our commitment to driving substantial growth and creating lasting value. Looking ahead, we are highly optimistic about the favorable market conditions in the real estate sector,” said Dhaval Ajmera, Director, Ajmera Realty & Infra India.

According to him, with stabilising interest rates, the company is witnessing a notable upturn in customer sentiment and a strong inclination to purchase from established brands.

Realty developer Ajmera Realty & Infra India has reported 44% on-year decline and 60% sequential rise in sales value at Rs 225 crore for the quarter ended June. The listed company sold over 1.35 lakh sq ft carpet area during the quarter, down 14% from a year ago and up 96% from the previous quarter. According to the company, the year-on-year comparisons are not comparable due to a massive sales launch of one of its projects, Manhattan, last year. During the June quarter, the sales growth was driven by the implementation of a revamped sales strategy for its projects in Bangalore. Additionally, the successful launch sales of Ajmera Eden that commenced last month, recording 14$ of its sales potential, contributed significantly to the sales growth. “Our performance aligns seamlessly with our 5x growth strategy, demonstrating our commitment to driving substantial growth and creating lasting value. Looking ahead, we are highly optimistic about the favorable market conditions in the real estate sector,” said Dhaval Ajmera, Director, Ajmera Realty & Infra India. According to him, with stabilising interest rates, the company is witnessing a notable upturn in customer sentiment and a strong inclination to purchase from established brands.

Next Story
Infrastructure Urban

Govt Notifies Revised MSME Classification Criteria

The government has announced revised criteria for classifying Micro, Small, and Medium Enterprises (MSMEs), which will come into effect from April 1. The changes include an increase in both investment and turnover thresholds across all categories. Micro-enterprises will now be classified as those with investments up to Rs 25 million, up from the previous Rs 10 million, while the turnover limit has been raised to Rs 100 million from Rs 50 million. Similarly, small enterprises will now include units with investments up to Rs 250 million instead of the earlier Rs 100 million, and their turnover l..

Next Story
Infrastructure Urban

100% Gram Panchayat Coverage Under JJM in Chhattisgarh

The Jal Jeevan Mission (JJM) has achieved full coverage in several gram panchayats across Chhattisgarh, with 64 in Kanker, 87 in Balod, 30 in Kondagaon, and 329 in Dhamtari districts now classified as Har Ghar Jal, meaning every household has access to tap water. As per data reported by states and union territories on the JJM Integrated Management Information System (IMIS), a total of 1,20,097 gram panchayats nationwide, including 2,001 in Chhattisgarh, have achieved this status. Additionally, 1,14,366 water supply schemes, including 4,515 in Chhattisgarh, have been transferred to community ma..

Next Story
Infrastructure Urban

Govt Promotes R&D in Pharma Medtech Sector with AI Integration

The Department of Pharmaceuticals (DoP) has launched initiatives to enhance research and development (R&D) in the pharmaceutical sector, particularly in artificial intelligence (AI) and machine learning, through the Scheme for Promotion of Research and Innovation in the Pharma Medtech Sector. As part of these efforts, the National Institutes of Pharmaceutical Education and Research (NIPER), under DoP, have incorporated AI and blockchain technology into their academic curriculum and are training students in AI-based tools to strengthen human resource capabilities in the sector. Add..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?