Ajmera Realty & Infra India reported a doubling of sales in the fourth quarter of the financial year, touching Rs 287 crore compared to Rs 140 crore in the same period last year.
This growth was largely attributed to the surge in demand in the company's flagship micro-market, Wadala, following the inauguration of the Atal Setu.
For the full year FY24, Ajmera Realty reported a 21% increase in sales to Rs 1,017 crore.
It currently has projects worth Rs 3,130 crore crore in the pipeline with 1.3 million sq. ft. of area.
This comes close on the heels of other real estate players such as Godrej Properties and Keystone Realtors reporting strong numbers for the quarter.
Godrej Properties reported a 135% year-on-year growth in bookings in Q4, reaching over Rs 9,500 crore in Q4 FY24, while Keystone Realtors Limited (Rustomjee) reported pre-sales of Rs 843 crore, showing a growth of 37% quarter-on-quarter and 78% year-on-year.
For the full year FY24, Godrej Properties' bookings grew by 84% year-on-year to over Rs 22,500 crore, and Rustomjee's pre-sales reached INR 2,266 crore, registering a growth of 41% year-on-year.
Although Ajmera Realty's sales figures may not be as high as its industry peers, the company has demonstrated strong growth and operational excellence.
As the real estate sector continues to recover from the impact of the pandemic, the strong performance of companies like Ajmera Realty, Godrej Properties, and Rustomjee indicates a positive outlook for the industry.