Mumbai-based real estate developer Ajmera Realty & Infra India Ltd sold 37% of the inventory in its latest residential project in Bengaluru within a week of its launch, the company said in a statement.
Ajmera Realty sold 59,000 square feet out of the total 1.59 lakh square feet in the said project – Ajmera Iris in Electronic City, Phase 2 – for a value of ₹60 crore, the statement said.
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Spread across 4.5 acres, the project includes 11 towers comprising B+G+4 floors each and a total of 215 2 BHK and 3 BHK units. It also comprises two clubhouses, swimming pools and over 25 lifestyle amenities.
The project is expected to come to completion in December 2026, Ajmera Realty said in response to HT.com’s query.
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Strategically located near major infrastructure like Hosur Road and the Bengaluru Metro-Rail Network, Ajmera Iris combines proximity to top MNCs and IT hubs, the company statement noted.
Commenting on the launch, Dhaval Ajmera, director, Ajmera Realty & Infra India Ltd, said: “The real estate market of Bengaluru is witnessing a significant rise in demand for quality and spacious living, driven by a robust job market and strong purchasing power in the Startup Hub of India.”
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“The idea to launch Ajmera IRIS is influenced by this upbeat sentiment among homebuyers and investors alike. We have witnessed a tremendous response and recorded stellar pre-sales within a matter of days of the launch. A strategic expansion of our portfolio in this micro-market, this venture is in line with our guidance for the year and is a strong testimony to our ambitious 5x growth,” he added.
Business performance
Ajmera Realty & Infra India Limited on October 28 reported a 57% increase in its consolidated net profit to ₹35.35 crore in the September quarter. Its net profit stood at ₹22.53 crore in the year-ago period.
According to the company’s investors’ presentation, Ajmera Realty & Infra India Ltd has delivered projects spanning over 20 million square feet over a course of 55 years. The brand presently has projects with a footprint of more than 1 million square feet under various stages of development.
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