Ajmera Realty's shares in news as sales rise 36% YoY to Rs 306 cr in Q1

Ajmera Realty and Infrastructure, a luxury and mid-luxury residential developer reported strong growth in sales value in its business estimates for quarter one of fiscal year 2024-25 (Q1FY25), surging by 36 per cent year on year (Y-o-Y) to Rs 306 crores from Rs 225 crores in Q1FY24.

The surge in sales is on account of recently launched project Ajmera Vihara at Bhandup, with 27 per cent of inventory sold on launch. Ajmera Greenfinity AB sales momentum continued with 38 per cent inventory being sold in a span of less than two quarters from its launch period, the company said in an exchange filing on Monday. 

The collections during the quarter rose by 49 per cent Y-o-Y to Rs 165 crores versus Rs 110 crore in Q1FY24. 

Post the announcement, the stock of the company rose up to 8 per cent at Rs 780 per share on the BSE in Monday’s intraday deals. 

However, at 12:49 PM; the stock of the company gave up more than of its intraday gain and was trading 3.38 per cent higher at Rs 747.05 per share on the BSE. In comparison the BSE Sensex fell 0.14 per cent to 79,886 levels.

At present, the shares of the company are trading at a price to earnings multiple of 24.05 times with an earning per share of Rs 30.05, BSE data showed. 

In Q4FY24, Ajmera Realty & Infrastructure reported a sales value of Rs 287 crore, marking a remarkable growth of 104 per cent compared to Rs 140 crore in Q4 FY23. 

On a full year basis, the company's sales value reached Rs 1,017 crore, a 21 per cent year-on-year increase in FY24. Additionally, the collections for the year amounted to Rs 561 crore, a modest 6 per cent year-on-year growth.