Nov 06, 2023

Anant Raj Ltd's Expansion Plans: Housing Projects Worth Rs 4,000 Crore!

Delhi-based realty firm Anant Raj Ltd. is set to embark on an ambitious expansion plan, with the launch of three new housing projects in Gurugram and Andhra Pradesh over the next 6-9 months according to The Print. These projects are estimated to have a combined sales value of approximately Rs 4,000 crore. The company will introduce a luxury group housing project in Sector 63A Gurugram, covering over one million square feet of developable area. Additionally, they plan to launch plots and villas in their 200-acre township 'Anant Raj Estate' in Gurugram, encompassing around one million square feet of saleable area as reported by IBC 24.

Amit Sarin, Managing Director of Anant Raj Ltd, expressed optimism while speaking to The Times of India, about the strong demand in the real estate market, largely driven by end-users. In Tirupati, Andhra Pradesh, the company will focus on providing affordable homes priced below Rs 20 lakh per unit, targeting the local workforce.

According to Latestly, the company has commenced construction on 1,900 affordable housing units in Tirupati, where they aim to cater to individuals employed in nearby industrial facilities. Additionally, Anant Raj Ltd is developing a mixed-use project in South Delhi, covering seven lakh square feet and comprising a hotel, serviced apartments, and an office complex.

In recent financial news published by La Gaceta De Arucas, Anant Raj Ltd reported an impressive 79% increase in its consolidated net profit, reaching Rs 60.37 crore for the second quarter of the fiscal year, attributed to higher income. The company's total income for the July-September period of 2023-24 increased to Rs 340.83 crore from Rs 265.87 crore in the previous year's corresponding period. However, total expenses also grew to Rs 264.68 crore from Rs 223.84 crore.

Currently trading on the BSE, World News reports, Anant Raj Ltd's shares are priced at Rs 240.65 apiece, representing a market capitalization of Rs 7,799.38 crore.