Realty stock engaged in the business of providing residential, rented commercial properties, project development and many more hit a 20 percent upper circuit in the day’s trade following the release of its Q3FY24 results.
With a market capitalization of Rs. 2,460 Crores, the shares of Ajmera Realty & Infra Limited hit a 20 percent upper circuit at Rs. 710.50. It has delivered multi-bagger returns of 162 percent in a year.
Its revenue from operations grew by 161.50 percent YoY from Rs. 79.07 Crores in Q3FY23 to Rs. 206.77 Crores in Q3FY24 and it grew 42.26 percent QoQ from Rs. 145.34 Crores in Q2FY24 to Rs. 206.77 Crores in Q3FY24.
Its Net Profit grew by 186.46 percent YoY from Rs. 10.64 Crores in Q3FY23 to Rs. 30.48 Crores in Q3FY24 and it grew 35.46 percent QoQ from Rs. 22.5 Crores in Q2FY24 to Rs. 30.48 Crores in Q3FY24.
Recently Ajmera Realty & Infra India Limited and Keystone Realtors Limited formed a Joint venture to execute a redevelopment project in Bandra West, that is expected to generate a Gross Development Value (GDV) of Rs. 760 crores.
Ajmera Realty & Infra India is a realty company engaged in the business of providing residential and rented commercial properties, project development, redevelopment activities, and many more.
It has reported a return on equity (ROE) of 9.64 percent and a return on capital employed (ROCE) of 7.48 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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