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Real estate developer Ajmera Realty & Infra India reported a significant increase in consolidated net profit, up by 186% year-on-year to Rs 30 crore for the quarter ending in December. Sales also saw a notable rise, up by 98% year-on-year to Rs 253 crore. Collections increased by 30% compared to the previous year, reaching Rs 151 crore, attributed to strong sales and efficient project execution.

Though Sunteck Realty did not disclose the exact size of the land, industry sources said the two projects will come up on a cumulative land parcel of 1.5 acres

The project, which is expected to be launched in next calendar year, is a redevelopment that is expected to lead to a sale potential of ~3,42,000 sq. ft. of RERA carpet area with an expected Gross Development Value (GDV) of ~ Rs 1,200 crore.

The project in Malad area of Mumbai will include component of rehousing 342 existing members of both the societies, and this redevelopment will lead to sale potential of 3.42 lakh sq ft of RERA carpet area, according to company statement

Keystone Realtors, a part of Rustomjee Group, has secured the rights to redevelop two housing societies in Mumbais Malad West suburb, covering nearly 3 acres. The project is expected to have a sale potential of over 3.42 lakh sq ft of RERA carpet area, with an anticipated Gross Development Value (GDV) exceeding Rs 1,200 crore.

(This story has not been edited by THE WEEK and is auto-generated from a PTI

Property developers Ajmera Realty & Keystone Realtors form Ajmera Luxe Realty, a joint venture for a Rs 760 crore luxury residential redevelopment project in Mumbais Bandra West. The companies share a 50% stake in the venture, aiming to elevate aging housing societies and contribute to the citys urban rejuvenation. With a focus on low-capex acquisitions, Ajmera Realty plans for fivefold growth, aligning with the governments initiatives to boost redevelopment in Maharashtra. Despite challenge...

The redevelopment project aims to deliver premium luxury residential apartments with an estimated carpet area of approximately 130,000 sq ft for sale