Shares of Ajmera Realty hit a 52-week high of Rs 474.90 on 20 December after a portfolio manager, Quest Investment Advisors, picked up a 1.4% stake in the company.

As per the exchange data, Quest Investment Advisors had picked up 5,01,443 equity shares, representing a 1.4% stake in the company through an open market transaction.

On the other hand, Fahrenheit Fun and Games sold 7 lakh equity shares of the company for an average price of Rs 425 per share. As of 30 September, Fahrenheit Fun and Games held a 7.05% stake in the company or 25 lakh shares of the company.

In its quarterly report for July-September, the company reported a 34% year-on-year decline in its net profit to Rs 23 crore for the quarter from the Rs 34 crore reported in the same quarter of the previous fiscal year.

The revenue for the quarter stood at Rs 145 crore, which is a 22% YoY decline from the numbers reported in the same quarter last year.

Despite the gloomy earnings, the company is confident towards continued growth. Moreover, the Director of Ajmera Realty, Dhaval Ajmera, said that they are confident that sales and revenues will definitely reach the Rs 1,000 crore mark.

At 1:15 pm, the shares of Ajmera Realty were trading 7.88% higher at Rs 463.15 on NSE.