Anant Raj Ltd Share Price – NSE /  BSE

Realty, Small Cap

Net profit of Anant Raj rose 79.66% to Rs 91.00 crore in the quarter ended June 2024 as against Rs 50.65 crore during the previous quarter ended June 2023. Sales rose 49.24% to Rs 471.83 crore in the quarter ended June 2024 as against Rs 316.16 crore during the previous quarter ended June 2023.

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The stock has added 12.53% in two sessions, from its recent closing low of Rs 429.70 recorded on 28 June 2024.

In the last six months, the stock has jumped 58.17% while the benchmark Nifty 50 index and Nifty Realty index have added 11.22% and 42.58%, respectively.

On the technical front, the stock's daily RSI (relative strength index) stood at 72.81. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 392.08, 361.80 and 314.27, respectively.

In a regulatory filing made after market hours on Monday, Anant Raj (ARL) said that CRISIL Ratings has assigned its 'CRISIL BBB/Stable/CRISIL A3+‘ ratings to the bank loan facilities of the company.

CRISIL Ratings stated that the rating reflects continuation of strong performance of the residential real estate segment of the company over the medium term.

The residential segment is expected to see sales booking increase to over Rs 1800-2000 crore per annum over the medium term, from FY2024 levels of approximately Rs 1400 crore. Collections are also expected to sustain over Rs 1300-1600 crore over the medium term.

The residential business continued to be minimally leveraged (no outstanding loans for existing projects, apart from existing NCDs of approximately Rs 65 crore) and the management expects no major debt to be availed for the residential real estate business.

The company is majorly executing residential projects (including plots, floors, villas and group housing) in Sector 63A, Gurgaon. The company has developed affordable housing project in Neemrana and is currently developing one affordable housing project in Tirupati.

The rating also factors the rental cash flows of nearly Rs 40 crore per year being received by ARL from the portfolio of rented commercial properties located in the NCR region. Further, ARL has also ventured into setting up data centers.

The strengths are partially offset by exposure to risks inherent in the real estate sector, geographical concentration of projects (the group’s dependence on the Gurugram real estate market is elevated), exposure to intense competition and vulnerability to cyclicality and risks inherent in the real estate industry.

Additionally, scaling up of the data centers vertical, leasing of the new capacity as well as debt trajectory, along with sales and collection momentum in the residential real estate vertical will remain a key monitorable.

Anant Raj currently develops projects in and around Delhi-NCR with major projects in Sector 63 A in Gurgaon. Additionally, the company is also expanding its existing commercial properties in Delhi and is setting up its data center verticals.

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Anant Raj will hold a meeting of the Board of Directors of the Company on 27 July 2024.

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The company has signed MoU to design, build and provide operation (hardware & software) services for ARC's cloud platform. It will establish servers for its captive requirement at ARC data center and it will also support, promote and sell ARC’s colocation data centre and cloud platform services to its existing and future customers on mutually agreed terms and conditions.

Anant Raj is one of the largest real estate developers in the Delhi and NCR region.

The company’s consolidated net profit soared 73.43% to Rs 84.01crore on 57.98% jump in revenue from operations to Rs 442.59 crore in Q4 FY24 over Q4 FY23.

The counter hit an all-time high of Rs 449.05 in today's intraday session.

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