Ajmera Realty & Infra India Ltd, one of the prominent real estate companies in Mumbai has seen a very encouraging response for its newly launched residential property Ajmera Iris in E-City Phase 2, Bangalore. The project has made a sale of 37% of the overall selling inventory in a week of its launch with its 59,000 square feet of the 1.59 lakh square feet, valuations of which stand at a sales figure of ₹60 crores.
Built across 4.5 acres of land, the Ajmera Iris project features 11 towers with B+G+4 floors providing a total of 215 two- and three-bedroom apartments. A full spectrum of two clubhouses, swimming pools and over 25 lifestyle facilities are housed within this development. Moreover, its location is also enhanced by quick access to infrastructure like Hosur Road and the Bengaluru Metro that connects with most of the MNCs and IT Corridors.
As a result, it is reasoned that Ajmera Iris will be ready for occupation by December 2026 which also illustrates to us the reappearance of demand for the construction of luxurious residential apartments in Bangalore due to the increased market potential and more so the income levels of people working in the technology and startup sectors. Dhaval Ajmera, Director of Ajmera Realty & Infra India Ltd., was upbeat about the possibilities of the undertaking when he said: “Bengaluru is undergoing a surge in interest for the more spacious and premium-quality apartments.
The launch of Ajmera Iris has been a clear sign of the health of the market, and we are looking forward to its success.” In doing so, Ajmera Infrastructure has extended its offering, which has already witnessed the completion of over 20 million square feet of projects in the 55-year operational history of the firm, by marking the inauguration of a new project. The firm however possesses aggressive objectives for growth, aiming for a five times advancement in scale in the years ahead.
Increased order flows are not only confined to Ajmera Realty’s project pipeline but they are also reflected in its latest financial performances, which reveal that in Q2 FY24, consolidated net profit climbed to ₹35.35 crore or94 million, a 57% year-on-year growth from ¥22.53 crore achieved in the same quarter the previous year.
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