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Ajmera Realty Q1 sales down 44% on year

2023-07-10

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.