Ajmera Realty’s net profit dips 34.08% in Q2 FY24, ET RealEstate

November 1, 2023

NEW DELHI: Ajmera Realty & Infra India (ARIIL) has reported a dip of 34.08 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 22.53 crore in Q2 FY24 as against Rs 34.18 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 147.59 crore in Q2 FY24, a dip of 21.13 per cent from Rs 187.14 crore it recorded in the similar quarter last year.

Dhaval Ajmera, director of the company said, “Despite the ongoing business development activities, the debt-to-equity ratio remains stable at 0.97x for Q2 FY24, similar to the trailing quarter, thus sustaining the ratio below 1x ratio of net worth. Also, the weighted average cost of debt was 12.1% at the end of quarter.”

The board of directors have approved the proposal for re-appointment of K. G. Krishnamurthy, as an independent director of the company, for a second term of five years from November 5, 2023 to November 4, 2028.

“With an expansive launch pipeline of GDV ~Rs 2,750 crore & sales development potential of ~1.3 million sq ft, our revenue visibility has now expanded to ~Rs 4,750 crore from our ongoing projects and future launches,” said Ajmera.

During the quarter, its sales value stood at Rs 252 crore, up 52% year-on-year and sales volume stood at 1,20,787 sq ft, up 51% year-on-year. As on September 30, 2023, its net worth stood at Rs 807.40 crore.

  • Published On Nov 1, 2023 at 04:30 PM IST

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