Ajmera Realty's net profit increased by 9.58% in Q3 FY23

The net consolidated profit of Ajmera Realty and Infra India increased by 9.58% during the three months ending December 31, 2022. The company said in a BSE filing that its profit after tax (PAT) increased to Rs 10.64 crore in Q3 FY23 from Rs 9.71 crore in the equivalent period of the previous fiscal. The company's total consolidated income increased by 14.87% to Rs 80.57 crore in Q3 FY23 from Rs 70.14 crore which it reported in the same quarter the previous year.

In an interview captured by ET Realty, company director Dhaval Ajmera said, "The growth trend continues with another great quarterly performance delivery. Sales value increased by 126% over the prior year, while collections increased by 42% over the same period last year. Due to the sales momentum the bottom line expanded by 80% year over year during the first nine months of FY23 and PAT margins increased by roughly 720 bps.”

The company's sales value during the aforementioned quarter climbed by 19% year over year to Rs 128 crore while revenue increased by 40% year over year to Rs 116 crore. The company claims to have deleveraged their debt by Rs 38 crore during the quarter. They have been reduce the debt-to-equity ratio from 1.1:1 to 1.04:1 through meticulous debt management initiatives being backed by healthy operating cash flows and solid collections.

The board of directors approved investing in Ajmera Luxe Realty (ALRPL) by purchasing a 100% equity position made up of 10,000 fully paid-up equity shares, each for Rs. 10. This would make ALRPL the company's wholly-owned subsidiary.

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Ajmera Realty's net profit increased by 9.58% in Q3 FY23

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