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Anant Raj Ltd

| Quarterly Financial Results Q3 FY 2025–26

BULLISH SENTIMENT

Report Source

⬤21st Jan 26

Summary : Anant Raj Limited reports strong Q3 FY26 results, driven by real estate project launches, data center expansion, and a credit rating upgrade.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Q3 FY26 Total Expenses: Rs. 306.59 crores.
  2. Consolidated Q3 FY26 Total Expenses: Rs. 488.60 crores.
  3. Standalone Q3 FY26 Total Income: Rs. 401.15 crores.
  4. Consolidated Q3 FY26 Total Income: Rs. 660.38 crores.
  5. Standalone Paid-up Equity Share Capital: Rs. 71.98 crores (Q3 FY26).
  6. Consolidated Paid-up Equity Share Capital: Rs. 71.98 crores (Q3 FY26).
  7. Both standalone and consolidated results presented.
  8. Consolidated results include 45 subsidiaries, 1 associate, 2 JCEs.
  9. Consolidated Q3 FY26 Profit after tax: Rs. 144.23 crores.
  10. Standalone Q3 FY26 Profit after tax: Rs. 77.54 crores.

Corporate Overview

  1. Domiciled in India, no reportable geographical segment.
  2. Real estate projects in Gurugram (Haryana).
  3. Cloud services in Manesar and Panchkula (Haryana).
  4. Data center expansion in Andhra Pradesh.
  5. Real estate development, infrastructure, and related activities.
  6. Data Center and Cloud Services.
  7. Positive, highlighting growth and expansion initiatives.
  8. Confident in project launches and operational milestones.
  9. Primarily 'Real Estate Development'.
  10. Data Center and Cloud Services.
  11. The Estate One: 1.09 million sq. ft. saleable area.
  12. Anant Raj Estate: Additional 9.11875 acres for Phase V.
  13. Total planned Data Center capacity: 357 MW IT Load.
  14. 117 MW IT Load to commence by FY 2028.
  15. Launch of 'The Estate One' luxury residential in Q4 FY 2026.
  16. Delivery of Project Navya Phase 2 in Q4 FY 2026.
  17. Approvals for Anant Raj Estate Phase V in Q4 FY 2026.
  18. Ashok Cloud services operational in Q4 FY 2026.
  19. MOU for 50 MW IT Load data center in Andhra Pradesh.
  20. Total data center capacity to reach 357 MW IT Load.

Risk Factors

  1. New labor codes rules pending.
  2. Uncertainty in labor code implementation.
  3. Gratuity provision impact from codes.
  4. Real estate market conditions are crucial.

Key Drivers

  1. Credit rating upgraded for bank facilities.
  2. Luxury residential projects launching soon.
  3. Data center capacity significantly expanding.
  4. Successful Qualified Institutional Placement.

Auditor’s Report

  1. Unmodified conclusion on standalone unaudited financial results.
  2. Unmodified conclusion on consolidated unaudited financial results.
  3. Conclusion not modified regarding other auditors' reports for subsidiaries.

Board Commentary

  1. New Labour Codes and their pending rules.
  2. New Labour Codes effective from November 21, 2025.
  3. Supporting rules for new Labour Codes are yet to be notified.
  4. Provision for gratuity of Rs. 0.61 crore made due to new codes.
  5. QIP of Rs. 1,099.99 crores approved.
  6. Rs. 296.98 crores utilized from QIP for intended purpose.
  7. Redeemed non-convertible debentures of Rs. 50 lakhs.
  8. Acquired 100% partnership interest in Blessed Landbase LLP.

Corporate Governance

  1. Audit Committee reviewed financial results.
  2. Finance and Investment Committee approved QIP.
  3. No deviation in QIP fund utilization reported.

Management Discussion & Analysis

Future Strategy

  1. Focus on luxury residential development.
  2. Expanding data center and cloud services footprint.
  3. Strategic partnerships for project development.

Operational Focus Areas

  1. Timely launch and delivery of real estate projects.
  2. Operationalization of cloud services infrastructure.
  3. Monitoring new labor codes for compliance and accounting.

Performance Drivers

  1. Upgraded credit ratings for bank facilities.
  2. Successful launch and delivery of real estate projects.
  3. Significant expansion in data center capacity.
  4. Successful Qualified Institutional Placement (QIP).

Risk Control Measures

  1. Monitoring finalization of Central and State labor rules.
  2. Incorporating appropriate accounting treatment for labor code changes.

Critical Risks

  1. Uncertainty regarding new labor codes implementation.
  2. Pending notification of supporting rules for new labor codes.