Ajmera Realty on Thursday posted net profit for the fourth quarter of FY23 at Rs 15.11 crore, up 7.9 per cent from Rs 14.01 crore in the same quarter last year. It posted revenue from operations at Rs 114.25 crore, down 36.7 per cent from Rs 180.51 crore in Q4FY22. The Board also recommended a final dividend of Rs 3 per equity share on face value of Rs 10 each for the financial year ended March 31, 2023.
On an annual basis, Ajmera Realty posted sales volume increase by 95 per cent on-year to Rs 842 crore. The real estate firm also launched two projects for a Gross Development Value of around Rs 1,650 crore and acquired land with a Gross Development Value of around Rs 550 crore during FY23. “This success is due to sales momentum gained in our existing as well as the new launches of Ajmera Manhattan & Ajmera Prive during the year, fast-paced execution, and the strong demand for quality homes in the sector,” said Dhaval Ajmera, Director, ARIIL.
Going forward, Ajmera Realty is betting on its 5x growth strategy with its launch pipeline of four projects with Gross Development Value (GDV) of about Rs 2000+ crore. “This includes our upcoming sales launch for Ajmera Eden during this quarter. We are also excited to share that we recently acquired a land parcel at Vikhroli East, which is expected to further fuel our growth journey,” it said in a regulatory filing. “Backed by industry reforms and continued demand from homebuyers along with the unchanged repo rate, we are highly optimistic about our growth strategy and the future of the real estate sector,” said Dhaval Ajmera.