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Ajmera Realty & Infra India Ltd reported a 14% drop in consolidated net profit to INR 30.37 crore for the quarter ending September, down from INR 35.35 crore a year earlier. However, total income rose to INR 221.01 crore from INR 204.08 crore, reflecting steady revenue growth. The company's board also approved a stock split, dividing each INR 10 equity share into five shares of INR 2 each to improve liquidity and expand investor participation. Despite the dip in profit, Ajmera Realty remains a key player in India's real estate sector, continuing to strengthen its market presence through strategic financial and operational measures.
Ajmera Realty & Infra India Ltd announced earlier this week that its consolidated net profit had declined by nearly 14 per cent for the quarter ending September, recording INR 30.37 crore compared with INR 35.35 crore in the same quarter of the previous financial year. However, the firm reported that its total income for the second quarter of the current fiscal year rose to INR 221.01 crore, up from INR 204.08 crore during the same period in the preceding year, as mentioned in its regulatory filing. Advertisement
During the board meeting, the company also approved a sub-division or split of its existing equity shares. Each fully paid-up equity share with a face value of INR 10 will now be divided into five equity shares, each with a face value of INR 2. The Mumbai-based company is among the prominent real estate developers operating across India.
Although Ajmera Realty registered growth in total income for the recent quarter, its profitability witnessed a notable decline compared to the previous year. The board's decision to proceed with a share split is expected to enhance share liquidity and potentially attract a broader investor base. The company continues to remain a significant player within India's real estate development sector.
Source - PTI
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