Ajmera Realty & Infra India recorded sales of ₹140 crore in the March quarter, an increase of 16 per cent from a year ago, on firm demand and a good pace of construction.
The carpet area sold by the real estate developer was 69,209 sq ft in the quarter under review, a rise of 1 per cent on the year. The company said it believed that its strong cash generation will pave the way for business development prospects and debt deleveraging, thereby enhancing growth visibility.
In FY23, the company notched up sales of ₹834 crore, nearly double from a year ago, while in terms of volume, it was 50 per cent higher. Collections in the quarter rose 11 per cent to ₹103 crore, while for the whole year, it was higher by 35 per cent at ₹532 crore.
Director Dhaval Ajmera said the company was aiming to double its launch pipeline in FY24 with ₹2,000 crore of gross sales. The company is also in discussions for joint development projects to give a further boost to its pipeline.