Anant Raj Q1 FY27 Results: Data Centres Lift Margins

Q1 performance shows steady revenue growth

Anant Raj reported revenue of ₹631.40 crore in the first quarter of FY27, up 6.58% year on year. A separate broker summary put quarterly revenue at about ₹630 crore, broadly in line with Motilal Oswal Financial Services' estimate. Revenue declined 2.38% sequentially from ₹646.81 crore in the March quarter. The company’s results indicate that profitability grew faster than revenue during the quarter. This was supported by an improvement in operating performance and contribution from the data-centre business. The reported numbers are the latest available quarterly figures in the provided record. Anant Raj is scheduled to consider its unaudited results for the quarter and half year ended September 30, 2026, at a board meeting on October 28, 2026.

Data-centre segment supports profitability

The data-centre segment reported revenue of ₹90 crore in Q1 FY27. Its EBITDA margin was approximately 71%, while its PAT margin was approximately 45%. The segment’s higher profitability helped Anant Raj expand its consolidated EBITDA margin. The company’s core operations include residential real estate activity in Gurugram and Delhi, alongside its expanding data-centre business. Data-centre operations therefore remained an important contributor to the quarterly margin profile. The available information does not provide a separate comparison of the segment’s revenue with the preceding quarter or the year-earlier period. However, the reported segment margins show why its scale-up is material to the company’s overall financial performance.

EBITDA rises faster than revenue

EBITDA increased 22% year on year to ₹180 crore, according to the broker summary. This was 8% above the broker’s estimate. EBITDA margin expanded by 310 basis points sequentially to 29.0%. Separately, the quarterly results summary listed operating profit at ₹183.39 crore, up 9.54% quarter on quarter from ₹167.42 crore. Differences in the figures may reflect the use of different reported or adjusted profit measures. Both data points indicate an improvement in operating profitability during Q1 FY27. The expansion in margin was attributed to strong data-centre performance.

Profit growth remains ahead of sales growth

Adjusted PAT rose 19% year on year to ₹150 crore, with an adjusted PAT margin of 23.7%. The quarterly results summary reported net profit of ₹149.19 crore, up 18.50% year on year and 0.32% sequentially from ₹148.71 crore. Profit before tax stood at ₹188.39 crore in that summary, rising 8.16% quarter on quarter from ₹174.17 crore. Another reported comparison listed profit before tax at ₹185.33 crore for Q1 FY27, compared with ₹164.43 crore in Q2 FY26. The available data consistently points to year-on-year profit growth. Investors should distinguish between adjusted PAT, reported net profit, and figures drawn from different result summaries when comparing the numbers.

Key Q1 FY27 financial metrics

Capacity additions are expected in FY27

Anant Raj’s current data-centre capacity is stated at 28 MW. Of this, an incremental 3 MW of co-location capacity and 1.5 MW of cloud capacity are expected to start generating revenue in FY27. These additions are relevant because the segment already reported substantially higher margins than the company’s overall margin profile. The record does not specify the commissioning date within FY27. It also does not provide projected revenue from these specific additions. Still, the planned revenue start indicates that the existing capacity build-out is intended to translate into operating income during the year. Execution of these additions will be a relevant operating item in future results.

Broker forecasts outline real estate expectations

Motilal Oswal estimates pre-sales of ₹3,050 crore for FY27E and ₹3,340 crore for FY28E. The broker estimates collections of ₹2,020 crore in FY27E and ₹2,250 crore in FY28E. These are estimates and not company-reported achieved figures. They provide context for expectations around Anant Raj’s residential business, which remains part of its operating base. The quarterly revenue growth of 7% was described as broadly in line with the broker’s estimate. The Q1 result therefore combined steady real estate activity with an improving contribution from data centres. No updated pre-sales or collections figures for Q1 FY27 were included in the supplied information.

Balance-sheet context and prior targets

In an earlier Q2 FY26 update, Anant Raj reported revenue of ₹630.79 crore, EBITDA margin of 27.76%, and PAT of ₹138.18 crore. That update also stated that the company had moved to a net zero-debt position following a ₹1,100 crore qualified institutional placement. Management had targeted data-centre revenue of ₹1,200 crore by FY27. This target is a management goal rather than a reported outcome. The Q1 FY27 data-centre revenue of ₹90 crore and planned capacity additions provide the latest supplied operating context for that objective. The company has not yet published its Q2 FY27 financial statement in the provided archive.

What investors can track next

The immediate event is the October 28, 2026 board meeting to consider unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. The supplied archive describes Q2 FY27 result publication as unverified, so no Q2 financial figures should be treated as reported. For the next update, investors can compare revenue, operating margin, PAT, and data-centre contribution with Q1 FY27. The start of revenue from the additional co-location and cloud capacity will also be relevant. Anant Raj’s Q1 FY27 results showed modest sales growth, stronger operating-profit growth, and margins aided by its data-centre segment. The next formal disclosure should provide a clearer view of whether that operating trend continued into the September quarter.