Ajmera Realty Q1 sales bookings rise to Rs 400 crore

Ajmera Realty & Infra India Ltd's sales bookings have jumped more than three times to Rs 400 crore in the first quarter of this fiscal year on better demand for its properties.

Its sales bookings stood at Rs 111 crore in the year-ago period.

The company's consolidated net profit increased to Rs 11.57 crore during the first quarter of FY23 from Rs 10.26 crore in the preceding year.

Total revenue however fell to Rs 55.12 crore in the April-June quarter of this fiscal as against Rs 135.27 crore in the corresponding period of the previous year.

In a statement, Dhaval Ajmera, Director of Ajmera Realty & Infra, said: ''Real estate sector continues its resilient momentum in FY23 despite rising interest rates and housing prices, benefiting the organised real estate companies.'' With the growing positive sentiment, he said that the real estate asset class continues to be a preferred investment option during these inflationary times.

Ajmera Realty & Infra is developing many projects in Mumbai Metropolitan Region (MMR).

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)