Ajmera Realty Q3 Results: Net Profit Jumps 172%, Stock Up Over 15%

Shares of Ajmera Realty & Infra India Ltd. jumped over 15% after a significant rise in its third quarter net profit.

Net profit of the real estate developer rose to Rs 30 crore for the quarter ended December, compared to Rs 11 crore in the same period last year. Revenue from operations jumped to Rs 208 crore, compared to Rs 79 crore in Q3 FY23.

Ajmera Realty Q3 FY24 Results Highlights (YoY)

• Profit at Rs 30 crore vs 11 crore YoY

• Revenue at Rs 208 crore vs 79 crore YoY

• Ebitda at Rs 60 crore vs Rs 21 crore YoY

• Margin at 29% vs 27% YoY

Other Highlights

• Sales value surged by 98% to Rs 253 crore vs Rs 128 crore

• Collections in Q3 increased by 30% YoY to Rs 151 crore vs Rs 116 crore

• Highest quarterly revenue in a decade at Rs 209 crore

• Launch pipeline expanded to estimated gross development value or GDV of Rs 3,130 crore across eight projects, expected to be launched within 12 months

"Surpassing the figures of FY23 in both revenue and PAT metrics reflects our progression towards our 5x vision.. Despite aggressive business development activities, debt levels have remained stable, marking another quarter with debt/equity levels at 0.94x at Q3 FY24, thus maintaining levels below 1x," said Dhaval Ajmera, Director – Ajmera Realty.

Shares of Ajmera Realty rose over 15% to Rs 682 apiece on the BSE on Tuesday, compared with a 0.6% advance in the benchmark Sensex. The realty stock has risen 151% in a year.