Prime Highlights
- Net profit climbed 19% to ₹150 crore; EBITDA margin expanded to 29.1% from 25.4%.
- Board earlier approved splitting the firm into two listed entities: real estate and cloud/AI businesses.
Key Facts
- Anant Raj Ltd is a realty company now expanding into data centres and cloud/AI infrastructure.
- The company set up a Singapore subsidiary to sell cloud and AI services to overseas clients.
Background
Anant Raj Ltd, a realty firm, posted a rise in profit and revenue for the June quarter, with earnings growth outpacing sales growth.
Net profit for the quarter rose 19% year-on-year to ₹150 crore, compared with ₹126 crore in the same period last year. Revenue grew 7% to ₹631 crore from ₹592 crore, while EBITDA jumped 22% to ₹183 crore from ₹151 crore. The EBITDA margin improved to 29.1% from 25.4% a year earlier.
During the quarter, the company incorporated a wholly owned subsidiary in Singapore, Anant Raj Cloud Singapore Pte. Ltd., in mid-June. The company stated that the new arm would act as a reseller and offer co-location and cloud services, including artificial intelligence services, to customers abroad. These services would draw on the data centre and cloud infrastructure the company is building in India.
The company also completed the purchase of the remaining 25% stake in Romano Projects Private Limited toward the end of April, buying 12,500 fully paid-up equity shares. This took its holding in the entity from 75% to 100%, making it a wholly owned subsidiary.
In the third week of July, the company’s board had approved a Composite Scheme of Arrangement to split its data centre and cloud services business from its real estate and infrastructure operations. The plan would result in two separately listed companies: Anant Raj Ltd, which would remain the real estate and infrastructure entity, and Ashok Cloud Private Limited, which would house the digital infrastructure, cloud and AI business.
