Anant Raj to launch 3 housing projects, eyes Rs 4,000 crore revenue in 6-9 months

Real estate company Anant Raj Ltd is preparing to initiate three new housing projects in Gurugram and Andhra Pradesh over the next 6–9 months. These developments are expected to generate an estimated revenue of approximately Rs 4,000 crore as the company seeks to expand its business in response to strong demand for residential properties.

Gurugram and Tirupati projects

Anant Raj Ltd, headquartered in Delhi and listed on stock exchanges, is set to launch a luxury group housing project spanning over one million square feet in Sector 63A Gurugram. Additionally, they have plans to introduce plots and villas with a saleable area of about 1 million square feet within their nearly 200-acre township, 'Anant Raj Estate,' in Gurugram.

In parallel, Anant Raj has initiated the construction of 1,900 affordable housing units in Tirupati, Andhra Pradesh, with a focus on offering homes priced below Rs 20 lakh per unit. These homes are targeted at individuals employed in nearby industrial units.

Amit Sarin, Managing Director of Anant Raj Ltd, shared, "We are planning to launch three projects in Gurugram and Andhra Pradesh within the next 6-9 months. We are anticipating revenue of approximately Rs 4,000 crore from these projects, driven by strong demand from end-users."

Furthermore, the company has started work on a mixed-use project in South Delhi, featuring a hotel, serviced apartments, and an office complex, with a developable area of 7 lakh square feet. Commercial spaces within this mixed-use project will be available for lease.

Profit surge update

Last month, Anant Raj Ltd reported a 79 per cent increase in its consolidated net profit, reaching Rs 60.37 crore for the second quarter of this fiscal year, primarily due to higher income. In the same period last year, the company had posted a net profit of Rs 33.74 crore. Total income for the July-September 2023-24 period rose to Rs 340.83 crore from Rs 265.87 crore in the corresponding period of the previous year. Total expenses also increased to Rs 264.68 crore from Rs 223.84 crore.

As of now, Anant Raj's shares were trading at Rs 240.65 apiece on the BSE, experiencing a 0.46 per cent decrease during afternoon trade, with a market capitalisation of Rs 7,799.38 crore.

(With PTI Inputs)