Realtor Anant Raj Q2 net profit jumps 79% to Rs 60.37 crore on higher income

Realty firm Anant Raj Ltd has reported a 79 per cent increase in its consolidated net profit to Rs 60.37 crore for the second quarter of this fiscal on higher income. The Delhi-based realty firm had posted a net profit of Rs 33.74 crore in the year-ago period.

Its total income rose to Rs 340.83 crore in the July-September period of 2023-24 from Rs 265.87 crore in the corresponding period of the previous year, the company said in a regulatory filing on Saturday. The company's total expenses grew to Rs 264.68 crore from Rs 223.84 crore.

Anant Raj Ltd's share price closed at Rs 237.25 apiece Friday on the BSE, up 0.74 per cent from the previous close. Its market capitalization is nearly Rs 7,700 crore. Anant Raj Ltd is one of the leading real estate players in Delhi-NCR and adjoining cities. It is into the development of housing, commercial and data centre projects.

Earlier this month, Anant Raj Ltd had said that the company would start an affordable housing project in Hyderabad and a mix-use project in South Delhi, totalling 17 lakh square feet of developable area. Anant Raj Ltd had informed that the company "is commencing a new project namely, 'Anant Raj Centre' located in Mehrauli, South Delhi, having a developable area of about 7 lakh square feet, a mix of office space, hospitality, and serviced apartments".

Anant Raj, through its wholly-owned step-down subsidiary Jai Govinda Ghar Nirman Ltd, is commencing an affordable housing project Anant Raj Aashray-11 in Tirupati, Andhra Pradesh.