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HomeNewsTop NewsAjmera Realty's net profit up 9.58% in Q3 FY23

Ajmera Realty’s net profit up 9.58% in Q3 FY23

Ajmera Realty's total consolidated income stood at Rs 80.57 crore in Q3 FY23, a growth of 14.87 per cent from Rs 70.14 crore it recorded in the similar quarter last year.

Ajmera Realty and Infra India has reported a growth of 9.58 per cent in its net consolidated profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 10.64 crore in Q3 FY23 as against Rs 9.71 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s total consolidated income stood at Rs 80.57 crore in Q3 FY23, a growth of 14.87 per cent from Rs 70.14 crore it recorded in the similar quarter last year.

Dhaval Ajmera, director of the company said, “The growth trajectory continues with another successful quarterly performance delivery with 126% year-on-year growth in sales value & 42% year-on-year growth in collections for the nine-month period. The bottom line increased by 80% year-on-year during the 9M FY23 due to the sales momentum, while PAT margins increased by about 720 bps.”

During the said quarter, the company sales value were up 19% year-on-year at Rs 128 crore while the collection increased by 40% year-on-year at Rs 116 crore.

“Despite working on the business developments we have deleveraged our debt by Rs 38 crore during the quarter. Our prudent debt management efforts supported by strong operating cash-flows and robust collections have aided us in bringing the debt-to-equity ratio down from 1.1:1 to 1.04:1,” said Ajmera.

The board of directors approved investment in Ajmera Luxe Realty (ALRPL) by acquiring 100% equity stake comprising of 10,000 fully paid-up equity shares of Rs 10 each, which would make ALRPL wholly-owned subsidiary of the company.

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