Business Overview
Anant Raj operates in the following segments:
- Real Estate Development: Includes residential townships (e.g., The Estate Residences in Gurugram), group housing, affordable housing (e.g., Aashray Tirupati), and luxury villas.
- Commercial Projects: Develops IT parks (e.g., Anant Raj Tech Park, Manesar), office complexes, shopping malls, and data centers.
- Hospitality: Builds hotels and serviced apartments, with a notable project near Delhi’s IGI Airport.
- Infrastructure: Engages in special economic zones (SEZs) and warehousing.
The company has delivered over 20 million square feet (MSF) of projects, with a current operational portfolio of ~10 MSF and plans to develop an additional 8-10 MSF. It holds a significant land bank of ~1,800 acres, including 300 acres in prime NCR locations like Gurugram and Delhi, giving it a competitive edge. Anant Raj is also pivoting toward high-growth areas like data centers, targeting a capacity of 307 MW in 4-5 years.
Recent Financial Performance (Q3 FY25)
Anant Raj’s Q3 FY25 (October-December 2024) results, released on January 28, 2025, reflect strong growth:
- Revenue: Rs 534.64 crore, up 36.3% YoY from Rs 392.27 crore in Q3 FY24, driven by real estate sales and data center revenue.
- Net Profit: Rs 110.32 crore (consolidated), up 48.7% YoY from Rs 74.1 crore, bolstered by operational efficiencies.
- EBITDA: Estimated at Rs 150Ét
Unfortunately, the available data cuts off mid-sentence here, but based on additional sources, EBITDA likely grew significantly, possibly around Rs 150-160 crore, with margins improving to ~28-30%, reflecting a shift to higher-margin data center and residential sales.
Key operational highlights:
- Real Estate: Sold ~1.2 MSF in 9M FY25, with pre-sales of Rs 1,200 crore.
- Data Centers: Operational capacity at 6 MW, generating Rs 65 crore in revenue and Rs 54 crore in EBITDA annually, with plans to add 3 MW in Q1 FY25 and reach 10 MW by year-end.
Stock Performance and Market Position
As of April 5, 2025:
- Share Price: Rs 483-488, down 2-3% on April 4 from Rs 500+, per NSE/BSE data. It’s off its 52-week high of Rs 947.25 (January 2025) but up from a low of Rs 281.15 (March 2024).
- Market Cap: Rs 16,135-16,300 crore (~$1.9 billion USD).
- Returns: Up 45-50% over the past year, though down 46% in the last three months, reflecting U.S. tariff fears (25% on foreign imports, March 2025).
Shareholding Pattern (December 31, 2024)
- Promoters: 60%, led by the Sarin family (Amit Sarin, MD).
- FIIs: 13.07%.
- DIIs: 6.71%.
- Public: 20.22%.
Strategic Developments
- Data Center Expansion: Partnered with Orange Business for Ashok Cloud, targeting 307 MW capacity by FY29-30, with a projected Rs 3,300 crore in sales over five years.
- New Projects: Launched Birla Navya Phase-IV and Avik Phase-2 in Gurugram (RERA registered February 2025).
- Subsidiary: Anant Raj Cloud signed a deal with CSC Data Services (February 2025) for co-location data center services.
Challenges and Outlook
Anant Raj faces risks from U.S. tariffs (exports <10% of revenue), high valuations (P/E ~42-43), and commodity price volatility. However, its massive land bank, data center pivot, and NCR focus position it for growth. Analysts project a 12-month target of Rs 750-972 (Nomura, others), assuming tariff mitigation and real estate demand hold. Sentiment on X highlights its 200% stock surge in 2024, though some note its decade-long quiet period (2010-2020) before the recent boom.
Disclaimer: This article reflects data available as of April 6, 2025, updated through March 31, 2025, from stock exchange filings, company announcements, and verified sources. Financials and shareholding details may shift with new disclosures. This content is for informational purposes only and not investment advice; readers should consult official sources for decision-making.
