Ajmera Realty & Infra India (ARIIL) has acquired a 1,341.1 sq meter land parcel in Ghatkopar East, Mumbai, for Rs 51 crore through a competitive bidding process from the Karamshi Jethabhai Somaiya Trust. The acquisition is expected to yield approximately 44,000 sq ft of carpet area, with an estimated gross development value (GDV) of Rs 175 crore.
With the earnest money paid and a memorandum of understanding (MoU) in place, the project is set to enhance the company's footprint in Mumbai’s Eastern suburbs. Ghatkopar has emerged as a key micro-market for homebuyers, attracting developers looking to capitalize on the area's growing demand.
Ajmera Realty reported a sales value of Rs 270 crore in the quarter ending December 31, 2024, with collections rising 10% year-on-year to Rs 167 crore. The sales area surged by 59% year-on-year to 1,65,116 sq ft in Q3 FY25, reflecting strong market traction.