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Ajmera Realty & Infra Reports Rise In Profit To Rs 10 Cr In Q1

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Despite Covid 19 challenges and second lockdown during significant part of the quarter period, company has been able to achieve similar performance on key financial parameters for Q1FY2022:

Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA) a leading real estate company with pan India and International presence today announced its Q14FY2022 reporting 240 percent growth in revenues to Rs. 136 crore on a yearly comparison.   

For the Q1FY22, the company has reported substantial growth in value of sales enhancing company’s liquidity position. The increase is the result of ready to move in homes with OC despite second wave of lockdown and discontinuing stamp duty concession in Maharashtra. The key regions of Mumbai, Bengaluru and Ahmedabad reported healthy numbers defying the industry challenges faced by the pandemic affected world. 

Despite Covid 19 challenges and second lockdown during significant part of the quarter period, company has been able to achieve similar performance on key financial parameters for Q1FY2022:

Particulars Q1FY2022 (INR in crs.) Q1FY2021 (INR in crs.)
Revenue 136 40
EBITDA 34 13
PBT  14 3
PAT  11 2

 

Company’s secured loans on the projects as on Q1FY2022 has reduced significantly ahead of its repayment schedule due to sales collection on robust sales.

Company’s financial performance when viewed considering the two lockdowns and registering growth in revenue levels with a strong cash flow, stands apart and augers well for an accelerated growth trajectory for fiscal FY22. 

Commenting on the Q14FY22 performance, Dhaval Ajmera , Director –Ajmera Realty & Infra India Limited said “The result highlights robustness of our business model to sustain profitability even at difficult times and scale through unprecedented event such as Covid 19 and subsequent lockdowns. Despite the challenging scenario, we have been able to register growth in sales value and number of units sold during the period. We shall continue our endeavor towards creating value for all stakeholders and initiating measures for the safety of all our employees and their families.”        

Update on Recent Development

Ajmera Realty & Infra India Limited (“ARIIL”/”the Company”) has proposed demerger  of  6.5 acres of commercial undertaking project at  Ajmera i-land,Bhakti Park ,Wadala from ARIIL  into its wholly owned subsidiary viz. Radha Raman Dev Ventures Private Limited (“RRDVPL”/”the subsidiary Company”)The said proposal is pending for NCLT approval. Resulting, the Commercial undertaking project shall be identifiable for attracting prospective investor/strategic partners to participate in the project.

CSR Initiatives

During the current quarter, the company has incurred Rs.8.25 Lakhs towards CSR expenses for organizing vaccination for its employees etc. at Mumbai. 

ALSO READ: With Evictions Resuming, Tenants Seeks Assistance

 

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