Rs 373 To Rs 427 In 1 Day: Small Cap Real Estate Stock Declares 52% Jump In Sales Value

Shares of Ajmera Realty & Infra India Ltd witnessed a rally of 14.00% on Tuesday and traded fresh 52-week high after the company announced a surge of 52% YoY in its sales value to Rs 252 crore in Q2 FY24. Current market price of Ajmera Realty share on BSE is Rs 425.50 per share. Earlier this year, Ajmera Realty shares traded ex-dividend on August 4, 2023 for final dividend of Rs 3.00 per share. Ajmera Realty also witnessed spurt in volume by more than 23 times today. Earlier, Ajmera Realty shares volume rose by 1.86 times on October 9. Check details below:

Ajmera Realty's Sales Surge By 52% YoY In Q2 FY24: According to the BSE filing of the company, "ARIIL has demonstrated exceptional growth in Q2 FY24, with a remarkable 51% YoY increase in sales area to 1,20,787 sq.ft, and a 52% YoY growth in sales value to INR 252 crores. This impressive performance can be attributed to the continued launch momentum of Ajmera Eden, strong demand across various segments and geographies, and the positive impact of the RBI's decision to pause rate hikes. The significant contribution from Manhattan underscores the project's market acceptance, highlighting our commitment to excellence and adaptability, paving the path for future successes."

The company's collection stood at INR 111 crores, up 8% YoY and sales area stood at 1,20,787 sq. ft, up 51% YoY.
Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, "During Q2 FY24, the thrust on pre-sales and business development activities fueled us closer to our desired objective of reaching a sales target of ~INR 1,000 crores for the current fiscal. We believe the momentum of our sales trajectory will continue on the back of upcoming launches and relentless focus in the untapped micro-markets that are driving us closer to realizing our ambitious 5x growth strategy. The balanced mix of redevelopment, joint ventures, and strategic acquisitions, along with unlocking the value of our land bank will continue to drive growth for the company."

Ajmera Realty Stock Outlook & Return: Current market price of Ajmera Realty share on BSE is Rs 418.45 apiece. Ajmera Realty' stock opened at Rs 373.00 per share today, touched day's high of Rs 427.25 apiece and day's low of Rs 373.00 per share. Its 52-week high price is Rs 427.75 per share and 52-week low price is Rs 230.30 per share, respectively. It has a market capitalisation of Rs 1515.38 crore. Ajmera Realty shares offered return of 36% in last 6-months, gained 60% in last 1-year, and jumped 415% in last 3-years.

About: It came into existence in 1968 and operates in real estate sector. It has expanded its business interests in multiple areas like cement, vaults security, solar power, sports, social welfare and more. The Ajmera Group is a leading company with deep roots in the real estate industry, according to its official website.