Ajmera Realty & Infra India (ARIIL) has appointed Jayesh Mehta as an independent director, effective from August 11, 2024, for a tenure of five years.
Mehta, who previously served as managing director and country treasurer at Bank of America N.A., has over 35 years of experience in the Indian fixed-income markets.
The company also received a CRISIL A-/stable rating from CRISIL.
It is developing seven projects having a total carpet area of 1.7 million sq ft and a gross development value (GDV) of Rs. 4,270 crore.
It also holds land bank of 11.1 million sq ft. ARIIL recently paid a stamp duty of 4.5 crore for land acquired from Tata Communications in Vikhroli, Mumbai Ajmera Realty reported a 49% increase in its consolidated net profit for the first quarter of the fiscal year 2024-25.
The company’s profit surged to Rs 31.43 crore for the quarter ending June 30, 2024, up from Rs 21.07 crore in the same period last year.
Total income also rose to Rs 196.15 crore during the April-June period, compared to Rs 117.57 crore in the corresponding period of the previous fiscal year, as per the regulatory filing.
