Anant Raj unveils Rs 40 bn expansion plan for Gurugram, Andhra

21 Nov 2023 CW Team

In Gurugram's Sector 63A, Anant Raj will launch a luxury group housing project covering an expansive area of over one million square feet. Additionally, the company intends to roll out plots and villas spanning approximately 1 million square feet within its sprawling 200-acre township, 'Anant Raj Estate,' also located in Gurugram. Furthermore, Anant Raj has initiated the construction of 1,900 affordable housing units in Tirupati, Andhra Pradesh, catering to individuals employed in nearby industrial sectors. These affordable homes are priced below Rs 20 lakh per unit, making them accessible to a broader demographic.

Amit Sarin, the Managing Director of Anant Raj, shared the company's vision, stating, "We are gearing up to launch these three projects in Gurugram and Andhra Pradesh over the next 6-9 months, with an anticipated revenue of about Rs 40 billion."

Not stopping there, Anant Raj is also undertaking the development of a mixed-use project in South Delhi. This innovative endeavour will encompass a hotel, serviced apartments, and office complex, spanning an impressive 7 lakh square feet. Construction activities for this project have already commenced, signalling the company's commitment to diversifying its portfolio and meeting the evolving needs of the market.

In recent financial reports, Anant Raj showcased significant growth, with a remarkable 79% increase in its consolidated net profit, reaching Rs 603.7 million for the second quarter of the fiscal year. The company's total income for the July-September period of 2023-24 rose to Rs 3.4083 billion, compared to Rs 2.6587 billion in the corresponding period of the previous year. Additionally, the company's total expenses increased to Rs 2.6468 billion from Rs 2.2384 billion.

Anant Raj, a key player in the real estate sector of Delhi-NCR and adjacent areas, specialises in the development of housing, commercial, and data centre projects. Currently listed on stock exchanges, the company's shares were trading at Rs 240.65 apiece on the BSE, reflecting the company's market capitalisation at Rs 77.9938 billion, despite a marginal 0.46% dip in the afternoon trade.

Anant Raj, a prominent realty firm based in Delhi, has unveiled ambitious plans to introduce three new housing projects in Gurugram and Andhra Pradesh within the next 6-9 months. These projects, valued at an estimated Rs 40 billion, are a strategic move by the company to capitalise on the robust demand for residential properties. In Gurugram's Sector 63A, Anant Raj will launch a luxury group housing project covering an expansive area of over one million square feet. Additionally, the company intends to roll out plots and villas spanning approximately 1 million square feet within its sprawling 200-acre township, 'Anant Raj Estate,' also located in Gurugram. Furthermore, Anant Raj has initiated the construction of 1,900 affordable housing units in Tirupati, Andhra Pradesh, catering to individuals employed in nearby industrial sectors. These affordable homes are priced below Rs 20 lakh per unit, making them accessible to a broader demographic. Amit Sarin, the Managing Director of Anant Raj, shared the company's vision, stating, We are gearing up to launch these three projects in Gurugram and Andhra Pradesh over the next 6-9 months, with an anticipated revenue of about Rs 40 billion. Not stopping there, Anant Raj is also undertaking the development of a mixed-use project in South Delhi. This innovative endeavour will encompass a hotel, serviced apartments, and office complex, spanning an impressive 7 lakh square feet. Construction activities for this project have already commenced, signalling the company's commitment to diversifying its portfolio and meeting the evolving needs of the market. In recent financial reports, Anant Raj showcased significant growth, with a remarkable 79% increase in its consolidated net profit, reaching Rs 603.7 million for the second quarter of the fiscal year. The company's total income for the July-September period of 2023-24 rose to Rs 3.4083 billion, compared to Rs 2.6587 billion in the corresponding period of the previous year. Additionally, the company's total expenses increased to Rs 2.6468 billion from Rs 2.2384 billion. Anant Raj, a key player in the real estate sector of Delhi-NCR and adjacent areas, specialises in the development of housing, commercial, and data centre projects. Currently listed on stock exchanges, the company's shares were trading at Rs 240.65 apiece on the BSE, reflecting the company's market capitalisation at Rs 77.9938 billion, despite a marginal 0.46% dip in the afternoon trade.