Realty stock engaged in the business of providing residential, rented commercial properties, project development and many more jumped 17 percent in the day’s trade following a new redevelopment project in Bandra West.
At 3:05 p.m the shares of Ajmera Realty & Infra India Limited were trading at Rs. 580, up 14.82 percent from its previous day’s close price of Rs. 505.15 and its market capitalization is Rs. 2040 Crores
Ajmera Luxe Realty Private Limited which is joint venture between Ajmera Realty & Infra India Limited and Keystone Realtors Limited will execute a redevelopment project in Bandra West.
The project endeavor aims to deliver premium luxury residential apartments with an estimated carpet area of approximately 130,000 sq. ft for sale. Both companies will hold a 50 percent stake in the project, which 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.
Its revenue from operations declined 10.69 percent from Rs. 482.68 Crores in FY22 to Rs. 431.1 Crores in FY23, accompanied by increasing profits of Rs. 46.34 Crores to Rs. 71.59 Crores.
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, as its revenue and profit are not consistently growing.
Written by: Bharath K.S
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