Ajmera Realty & Infra Q2 results: Net profit rises 38% YoY to Rs 11 crore

MUMBAI: Realty developer Ajmera Realty & Infra India has reported a 38 per cent on-year rise in consolidated net profit at Rs 11 crore for the quarter ended September. Revenue for the quarter declined to Rs 100 crore against Rs 109 crore a year ago.

Total sales stood at Rs 91 crore on the back of 76,897 sq ft area sold during the quarter, while the collection rose 26 per cent from a year ago to Rs 108 crore.

“The improved pandemic scenario and the low home loan rates have provided the required traction to our ready‐to‐move and under-construction projects. We are on the path of debt reduction. There are scheduled for three new projects this year in our effort to continue the strong growth trajectory,” said Dhaval Ajmera, Director, Ajmera Realty & Infra India.

For the half-year ended September, the company has reported 121 per cent rise in net profit at Rs 22 crore with 57 per cent growth in revenue at Rs 235 crore.