Rs 1,000 crore sales target: This multibagger realty company reported a 52 per cent jump in sales; Acquires 3 new projects worth Rs 800 crore!

The stock is up by 64 per cent in just 1 year and gave multibagger returns of over 400 per cent in just 3 years.

Ajmera Realty & Infra India Ltd (BSE: 513349 & NSE: AJMERA), a leading real estate company with a pan India presence, announced its operational numbers for Q2FY24. Here are the details:

ARIIL has demonstrated exceptional growth in Q2FY24, with a remarkable 51 per cent YoY increase in sales area to 1,20,787 sq. ft, and a 52 per cent YoY growth in sales value to Rs 252 crore. This impressive performance can be attributed to the continued launch momentum of Ajmera Eden, strong demand across various segments and geographies, and the positive impact of the RBI's decision to pause rate hikes. The significant contribution from Manhattan underscores the project's market acceptance, highlighting our commitment to excellence and adaptability, paving the path for future successes.

Acquired 3 projects with gross development value (GDV) of Rs 800 crores and sales potential of 4.4 lac sq. ft. Details below:  

• Redevelopment of 4 societies at Yogi Nagar, Borivali with sales potential of 1.07 lacs sq. ft.
• SRA redevelopment project at Bhandup, with initial phase development of 1.7 lac sq. ft.
• Entered into JDA through its special purpose vehicle (SPV) for a 69 per cent stake at Electronic Phase 2, Bengaluru with a sales potential of 1.62 lacs sq. ft.

Commenting on the Company’s operational performance for Q2FY24, Mr Dhaval Ajmera, Director of Ajmera Realty & Infra India Ltd, said, "During Q2 FY24, the thrust on pre-sales and business development activities fuelled us closer to our desired objective of reaching a sales target of Rs 1,000 crores for the current fiscal. We believe the momentum of our sales trajectory will continue on the back of upcoming launches and relentless focus on the untapped micro-markets that are driving us closer to realizing our ambitious 5x growth strategy. The balanced mix of redevelopment, joint ventures, and strategic acquisitions, along with unlocking the value of our land bank will continue to drive growth for the company.

On Wednesday, shares of ARIIL surged 3.30 per cent to Rs 436.85 per share from its previous closing of Rs 422.95. The company has a market cap of over Rs 1,500 crore and reported amazing numbers in its Quarterly Results & annual results. The shares of the company saw a spurt in volume by more than 1.5 times on BSE.

The stock is up by 64 per cent in just 1 year and gave multibagger returns of over 400 per cent in just 3 years. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.