Ajmera revenues grow 240 per cent in Q1FY22

Ajmera Realty & Infra India Ltd on August 2 announced its results for Q1FY2022 reporting 240 per cent growth in revenues to Rs. 136 crore on a yearly comparison.

According to a press release, the company reported substantial growth in value of sales enhancing its liquidity position. The increase, said the release, is the result of ready to move in homes with OC despite second wave of lockdown and discontinuing stamp duty concession in Maharashtra.

The Profit Before Tax for Q1FY22 was Rs. 14 crore as against Rs. 3 crore for Q1FY21 and PAT was Rs 11 crore against Rs 2 crore in the corresponding quarter last year.

The company’s secured loans on projects as on Q1FY2022 have reduced significantly ahead of the repayment schedule due to collection on robust sales, added the release.

Commenting on the 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.”