Ajmera Realty soars as its arm acquires property from Tata Communications
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Ajmera Realty & Infra India is currently trading at Rs. 295.90, up by 7.70 points or 2.67% from its previous closing of Rs. 288.20 on the BSE.
The scrip opened at Rs. 288.00 and has touched a high and low of Rs. 297.40 and Rs. 288.00 respectively. So far 6184 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 496.00 on 03-Feb-2022 and a 52 week low of Rs. 210.65 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 297.40 and Rs. 261.85 respectively. The current market cap of the company is Rs. 1045.74 crore.
The promoters holding in the company stood at 69.73%, while Institutions and Non-Institutions held 0.02% and 30.24% respectively.
Ajmera Realty & Infra India’s (ARIIL) subsidiary -- Shree Yogi Realcon has acquired property from Tata Communications, the plot is owned by MHADA by executing the Tripartite agreement dated August 1, 2022.
The acquired land is spread across 1,721 sq.mt., where a residential property is to be constructed with a potential carpet area of around 95,000 sft and estimated to generate a sales value of around Rs 250 crore over three years with conservative price points.
The superstructure will constitute two wings in the configuration of 2, 3 and 4BHK, having around 100 units with all the modern lifestyle amenities. With the recent shift of the Work from Home and Walk to Work concept, demand for mid?segment to luxury housing will drive the demand for this project.
Ajmera Realty & Infra India is primarily engaged in real estate development. Its real estate business caters to the mid and hi-end housing segments. It also operates in the hospitality and entertainment, which includes dome theatres, retail and malls, etc.
