Anant Raj Ltd. (ANANTRAJ) AI Stock Analysis

• Market Cap: ₹167.59B
• Dividend Yield: 0.13%
• Average Volume (3M): 693.23K
• Price to Earnings (P/E): 33.0
• Beta (1Y): 1.40
• Revenue Growth: 26.32%
• EPS Growth: 41.66%
• Country: IN
• Employees: 204
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 4.14
• Shares Outstanding: 359,876,920
• 10 Day Avg. Volume: 612,282
• 30 Day Avg. Volume: 693,228
• PEG Ratio: 0.72
• Price to Book (P/B): 3.93
• Price to Sales (P/S): 7.94
• P/FCF Ratio: 513.91
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 15.99
• Revenue Forecast (FY): ₹25.55B

• Rating: 66 Neutral
• Price Target: ₹503.00 ▼(-14.46% Downside)
• Action: Reiterated Date: 02/03/26
• Date: Action: Reiterated 02/03/26

The score is primarily supported by strong financial performance (robust revenue/profit growth and improved margins, with a solid equity base). Offsetting this, technical indicators are mixed (negative MACD and trading below longer-term averages), and valuation is less attractive due to a higher P/E and very low dividend yield.

Positive Factors

Revenue & Margin Expansion

Sustained, multi-year revenue growth accompanied by improving gross and net margins indicates durable demand and better cost control. This expansion supports reinvestment into projects, stronger operating leverage, and a more resilient profit base over the next 2–6 months and beyond.

Strengthened Equity & Deleveraging

A materially larger equity base and reduced debt-to-equity improve financial flexibility and shock absorption. Lower leverage reduces refinancing and interest risks, enabling the company to fund new developments and withstand cyclical downturns without immediate external equity raises.

Improving Cash Generation

Positive free cash flow and stronger operating cash conversion signal better internal funding for project completions and working capital. Reliable cash generation lowers dependency on external financing and supports sustainable capital allocation over the medium term.

Negative Factors

Material Outstanding Debt

Persistently meaningful debt balances leave the firm exposed to interest rate and refinancing risks. If project receipts or sales slow, servicing obligations could constrain liquidity and limit capacity to finance new projects or opportunistic investments over the next several quarters.

Historical Free Cash Flow Volatility

Prior swings in free cash flow reflect sensitivity to project timing, collections, and working capital cycles. Even with recent improvement, recurrence of volatility can impair project funding, debt service capacity, and strategic planning across development cycles.

Revenue Cyclicality from Project Timing

As a developer, revenues and profits depend on project launch/completion schedules and market demand. This structural cyclicality makes near-term cash flows and earnings uneven, raising execution and market-timing risk for project pipelines over coming quarters.

Anant Raj Ltd. Business Overview & Revenue Model

Company Description

Anant Raj Limited primarily develops and constructs information and technology parks, hospitality projects, residential townships, data centers, affordable housing, office complexes, shopping malls, and residential projects in Delhi, Haryana, Rajasthan, and the National Capital Region in India. It also leases and rents commercial properties. The company was formerly known as Anant Raj Industries Limited and changed its name to Anant Raj Limited in October 2012. Anant Raj Limited was founded in 1969 and is headquartered in New Delhi, India.

How the Company Makes Money

The company primarily makes money through (1) sale of real estate units—revenue recognized from selling developed properties such as residential apartments/plots and commercial spaces; (2) rental/lease income—recurring revenue earned by leasing completed commercial (and other income-generating) properties to tenants; and (3) related real estate services and other operating income—ancillary income tied to its real estate operations (for example, property management or maintenance recoveries where applicable). Key factors influencing earnings typically include the pace of project launches and completions, booking/sales velocity, pricing and demand in its operating markets, and occupancy/lease terms for its rental portfolio. Specific partner/customer concentration and segment-wise revenue split are null.

Anant Raj Ltd. Financial Statement Overview

Summary

Strong profitability and revenue growth with improved margins support a high score. Balance sheet is solid with rising equity and reduced leverage, but meaningful debt and historically volatile free cash flow keep the score below the top tier.

Income Statement

Anant Raj Ltd. has shown strong revenue growth, with total revenue increasing from INR 2,496.63 crore in 2021 to INR 20,599.70 crore in 2025, reflecting a robust growth trajectory. The gross profit margin has improved significantly, indicating efficient cost management. The net profit margin has also increased, highlighting enhanced profitability. EBIT and EBITDA margins have improved over the years, showing strong operational performance.

Balance Sheet

The company's balance sheet exhibits a solid equity position, with stockholders' equity increasing from INR 24,995.07 crore in 2021 to INR 41,607.90 crore in 2025. The debt-to-equity ratio has decreased, indicating reduced leverage risk. However, the company maintains a significant amount of debt, which could pose potential risks if not managed carefully. The equity ratio has remained stable, supporting the company's financial stability.

Cash Flow

Anant Raj Ltd. has seen an improvement in cash flow from 2022 to 2025. Free cash flow has turned positive, indicating better cash generation capabilities. The operating cash flow to net income ratio shows consistent cash flow generation relative to net income. However, the volatility in free cash flow in earlier years points to potential fluctuations in cash management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	22.98B	20.60B	14.83B	9.57B	4.62B	2.50B
Gross Profit	6.75B	5.72B	4.00B	2.41B	1.10B	670.26M
EBITDA	5.99B	4.90B	3.34B	1.97B	758.87M	353.77M
Net Income	4.93B	4.26B	2.66B	1.51B	565.16M	127.85M
Balance Sheet
Total Assets	54.46B	52.35B	48.68B	43.58B	43.85B	46.11B
Cash, Cash Equivalents and Short-Term Investments	15.42B	3.35B	3.05B	547.33M	194.31M	289.22M
Total Debt	5.63B	4.82B	6.27B	10.79B	12.93B	16.63B
Total Liabilities	10.18B	10.46B	11.84B	15.00B	17.11B	20.74B
Stockholders Equity	44.00B	41.61B	36.56B	28.25B	26.39B	25.00B
Cash Flow
Free Cash Flow	-21.30M	318.20M	-694.78M	-481.70M	4.57B	-1.16B
Operating Cash Flow	1.11B	966.10M	-255.19M	-63.60M	4.58B	-1.12B
Investing Cash Flow	-2.07B	-721.30M	1.81B	498.00M	-43.94M	472.40M
Financing Cash Flow	578.60M	5.30M	1.16B	-288.10M	-4.61B	830.07M

Anant Raj Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 588.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ANANTRAJ, the sentiment is Negative. The current price of 588 is above the 20-day moving average (MA) of 492.52, above the 50-day MA of 522.68, and above the 200-day MA of 567.23, indicating a bearish trend. The MACD of -22.31 indicates Positive momentum. The RSI at 40.82 is Neutral, neither overbought nor oversold. The STOCH value of 50.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ANANTRAJ.

Anant Raj Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KPIL	73 Outperform	₹183.13B	33.73	―	0.77%	25.09%	50.01%
ANANTRAJ	66 Neutral	₹167.59B	33.05	―	0.13%	26.32%	41.66%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
SOBHA	58 Neutral	₹135.73B	252.91	―	0.20%	56.34%	152.41%
CHALET	57 Neutral	₹158.51B	38.37	―	―	70.56%	579.58%
SIGNATURE	53 Neutral	₹107.72B	-87.53	―	―	20.05%	43.45%

Anant Raj Ltd. Corporate Events

Anant Raj Cloud and Submer Join Forces to Build Sovereign AI-Ready Data Centers Across India

Anant Raj Cloud Private Limited, a wholly owned subsidiary of Anant Raj Limited, has entered into a strategic collaboration with Spain-based Submer Technologies to develop fully operational, AI-ready data centers across India. The partnership will combine Submer’s modular data center infrastructure, advanced liquid-cooling technology and neocloud/inference platform with Anant Raj’s existing data center infrastructure, cloud services and campus development capabilities, enabling rapid deployment of high-density, energy-efficient computing platforms. Positioned against the backdrop of India’s supportive Union Budget 2026–27 for AI data centers and semiconductors, the collaboration aims to deliver sovereign, sustainable AI infrastructure that can be replicated nationwide, potentially boosting India’s attractiveness for global cloud and AI investments while increasing computing capacity within existing physical footprints.

Anant Raj to Meet Analysts and Institutional Investors in Mumbai on January 30, 2026

Anant Raj Limited has notified the stock exchanges that it will hold in-person meetings with analysts and institutional investors in Mumbai on Friday, January 30, 2026, structured as group or one-on-one interactions. The company emphasized that the meeting schedule may change due to exigencies and that no unpublished price-sensitive information will be shared, underscoring its adherence to SEBI’s disclosure regulations and ongoing engagement with the institutional investment community.

Anant Raj Files Q3 and 9M FY26 Investor Presentation with Stock Exchanges

Anant Raj Limited has submitted its investor presentation for the third quarter and nine months of FY26 to the National Stock Exchange of India and BSE in compliance with disclosure regulations. The filing signals the company’s ongoing engagement with capital markets and provides updated financial and operational information to investors, underscoring its adherence to regulatory transparency and continuous communication with stakeholders.