Ajmera Realty Aims For 40% Pre-Sales Growth Over Next Two Years

Ajmera Realty & Infra India Ltd. will achieve a 40% pre-sale growth over the next two years riding on the back of new project launches, according to the company’s Director Dhaval Ajmera.

The company reported a sharp 58.5% jump in net profit for the second quarter of the financial year 2024-25 at Rs 36.3 crore versus Rs 22.9 crore a year ago.

Revenue was up 37.6% YoY at Rs 200 crore for the quarter under review, as compared to Rs 145 crore in the similar period last fiscal. The company's sales figure stood at Rs 560 crore in the first half of the fiscal.

Ajmera Realty & Infra India had earlier, at the start of the current financial year, guided for a pre-sales growth of Rs 1,350 crore.

Commenting on the results, Ajmera asserted that the company was on track to achieve the pre-sales guidance numbers and maintain healthy growth in the near term.

He said that the next two to three years are going to be big for the realty company. “We have two or three of our large projects and many other projects coming up in a bigger way. We are still panning out our numbers but considering what we have guided for, we should be expecting a 30% to 40% jump year-on-year,” the top executive told NDTV Profit in an interview. 

“That’s why we expect that from the Rs 1,350-crore guidance given this year, we will grow to a 30–40% range in the next two years to come,” he added.

While stressing that the company had performed well in the last six months, Ajmera said, “The next half is also looking exciting. We have a couple of project launches. We have some existing projects that are continuously doing great sales.”

The spike in real estate prices across India, according to the Ajmera Realty director, will remain inflated in the near term, "because every developer today is looking for a good volume of sales and removing the inventory so that the transaction is complete".

He expects prices to rise over the next two years, but said, "it should be in the single-digit level where it will be related to cost and inflation".

Ajmera believes that the recent price rise in real estate is not going to affect the industry as there is excess demand.

Shares of Ajmera Realty & Infra India Ltd. closed 7.43% higher at Rs 886 apiece on the NSE on Monday, compared to benchmark Nifty’s 50’s gain of 0.65%.