Ajmera Realty & Infra India records 93% rise in FY23 sales at Rs 834 crore

Realty developer Ajmera Realty & Infra India has recorded its best-ever performance with a 93% growth in sales at Rs 834 crore for the financial year 2022-23.

The company has sold over 3.70 lakh sq ft carpet area during the year, up 50% from a year ago. Collections for the year also rose 35% to Rs 532 crore owing to robust pace of construction.

For the quarter ended March, the company has reported a 10% rise in sales value of Rs 140 crores on the back of 9% higher sales volume of 69,209 sq ft carpet area.


“Our FY23 performance, surpassing the peak sales of the COVID period, shows the sustained housing upcycle driven by strong affordability, job creation, and income growth. Looking ahead, we are excited to double our launch pipeline in FY24, with the aim of garnering Rs 2,000 crores of estimated gross sales towards this effort,” said Dhaval Ajmera, director, Ajmera Realty & Infra India.

According to him, the company is currently in active discussions for joint ventures, joint developments agreements and such low capex acquisitions that will further strengthen its projects pipeline.

The company is hopeful that its strong cash generation will pave the way for business development prospects and debt deleveraging, thereby enhancing growth visibility.