Shares of Ajmera Realty hit a 52-week high of Rs 521.15 on 11 January after the company announced its quarterly sales report for October-December.

The realty major reported a whopping 98% year-on-year increase in its sales value to Rs 253 crore during the quarter compared to Rs 128 crore reported in the same quarter last year.

The collection of the company during the quarter grew to Rs 151 crore, marking a 30% YoY growth.

The growth in sales value was due to sustained interest in its key projects, including Ajmera Eden and Ajmera Manhattan in Mumbai, along with its projects in Bengaluru.

Following the quarterly sales update, around 5 lakh shares of the company changed hands on the exchanges, which is more than its one-month daily traded average of around 3 lakh shares.

Dhaval Ajmera, Director of Ajmera Realty, said, “As we exit Q3 FY24, we are firmly on course to achieve our sales goal of Rs 1,000 crore for this fiscal year.”

Dhaval added that they are experiencing an elevated demand in the mid-segment and premium homes, which is a market segment that aligns with the company’s special offerings.

Ajmera said, “Securing a redevelopment project in Versova with an expected sales value of Rs 360 crores strengthens our portfolio and widens our market appeal. Given the ongoing redevelopment and metro expansions, we anticipate growing demand. This move underscores our commitment to diversification and progress towards our 5x growth goal.”

At 12:30 pm, the shares of Ajmera Realty were trading 5.97% higher at Rs 501.50 on NSE.