Ajmera Realty surges 9% to hit 52-week high on highest ever pre-sales figure in FY24

Shares of Ajmera Realty and Infra India Limited surged more than 9% to hit a fresh 52-week high of ₹863 apiece on the NSE on Tuesday, April 9, after the company reported record sales and highest ever pre-sales value for the quarter and financial year ended March 31, 2024.

In its quarterly updates filed with stock exchanges on April 9, the realty firm announced that its sales value more than doubled in the March quarter of the financial year 2023-24 (Q4FY24) to ₹287 crore, up 104%, compared to ₹140 crore in the corresponding quarter of the previous fiscal year.

Sequentially, sales value grew 13% quarter-on-quarter (QoQ) compared to ₹253 crore reported in the December quarter.

For the entire financial year 2023-24, the realty firm’s total sales value increased to ₹1,017 crore, up 21% year-on-year (YoY) compared to ₹842 crore in FY23.

Collections for the quarter stood at ₹197 crore, registering a rise of 91% year-on-year compared to ₹103 crore in the same period last year.

In Q4FY24, the company’s total carpet area sold reached 1,12,931 square feet, marking an increase of 63% YoY. On a quarter-on-quarter basis the carpet area sold increased 9% in comparison to 1,03,573 sqft in the December quarter.

For the entire fiscal year 2024, the company said its carpet area sold stood at 4,72,751 square feet.

Ajmera Realty said, “With the connectivity boost facilitated by the inauguration of Atal Setu, Wadala-our flagship micromarket, has experienced a strong surge in demand, significantly contributing to this growth. Ajmera Manhattan saw a record ₹100 crore in sales in a single month, reflecting exceptional market response. The launch of the next phase of Ajmera Greenfinity has been equally impactful, underscoring the project's immense appeal.”

During FY24, Ajmera Realty expanded its project portfolio by adding six new projects to its pipeline. The company also added that it had achieved a significant milestone by delivering 1,000 possessions across three projects within 24 hours.

Shares of Ajmera Realty closed 5.31% higher at ₹829 apiece on the NSE.