Shares of Ajmera Realty And Infra India Ltd hit a 20% upper circuit on 6 February after the company reported its October-December quarterly results.

The company reported a multi-fold increase in its consolidated net profit at Rs 30.48 crore for the quarter under review from Rs 10.64 crore reported in the same quarter of the previous fiscal year.

The revenue from operations stood at Rs 206.77 crore, marking a 261.5% year-on-year increase from Rs 79.07 crore reported in the same quarter last year.

The quarter’s EBITDA (earnings before interest taxes, depreciation and amortisation) stood at Rs 62 crore from Rs 40 crore reported in Q3FY23. The EBITDA margin expanded by 52 basis points to 29.6% during the quarter from 29.1% reported in Q3FY23.

Furthermore, sales value during the quarter doubled to Rs 253 crore in Q3FY24 from Rs 128 crore recorded in the corresponding quarter of the previous fiscal year.

Dhaval Ajmera, Director of the company, said, “Our estimated revenue visibility has increased to ₹4,950 crore from ongoing and future projects.”

At 3:30 pm, the shares of Ajmera Realty closed 20% higher at Rs 710.50 on NSE.