Anant Raj Q2 FY26: Revenue ₹631 cr, PAT ₹138 cr

Results keep Anant Raj in focus

Anant Raj, a real estate and infrastructure developer with an expanding data centre business, reported strong growth across recent quarters, keeping the stock in focus amid broader volatility in realty counters. The company’s disclosures point to a business mix that now spans residential and commercial development, rental and services, and data centre and cloud initiatives.

The latest management commentary highlights revenue and profit growth in Q2 and H1 FY26, along with a balance sheet position described as net cash positive after debt repayment. Separately, the company has also been in the news for partnering with AI infrastructure firm Submer to develop data centres in India.

Q4 FY25: Profit up 51.5%, dividend announced

For Q4 FY25, Anant Raj reported a consolidated net profit of ₹118.6 crore, up 51.5% year-on-year from ₹78.3 crore. Revenue rose 22.2% to ₹540.7 crore from ₹442.6 crore in Q4 FY24.

EBITDA increased 36.5% to ₹142.4 crore from ₹104.3 crore, with an EBITDA margin of 26.3%, compared with 23.6% a year ago. Alongside the results, the company declared a final dividend of ₹0.73 per equity share, which is 36.50% on the face value of ₹2 per share, subject to shareholder approval at the upcoming AGM. The company said the dividend would be paid within 30 days of declaration.

Stock reaction and key market data points

The results drove near-term interest in the stock. On Monday, Anant Raj shares closed at ₹492.8 on the BSE, up 4.5%. The stock later rose over 6% intraday to ₹525 on Tuesday, and was quoted at ₹507.35, up 2.79% from Monday’s closing price of ₹493.60 (as reported).

The stock was reported to be down 42% year-to-date, while gaining 253% over the past two years. Market capitalisation was stated at ₹16,848 crore. The stock is also described as down nearly 45% from its 52-week high of ₹947.9 (touched on January 8, 2025), down around 28.5% over three months, and up 49.5% over one year. The dataset also lists EPS (TTM) at ₹14.64 and dividend yield at 0.18%.

Q2 FY26: Revenue ₹630.79 crore, EBITDA ₹177.94 crore

For Q2 FY26, the company reported consolidated revenue of ₹630.79 crore, up 23% year-on-year. EBITDA came in at ₹177.94 crore, up 43.85%, with an EBITDA margin of 27.76%.

Profit after tax (PAT) for the quarter was ₹138.18 crore, up 30.79%, with a PAT margin of 21.56%. Management stated the performance was driven by the real estate and data centre segments.

H1 FY26: Revenue ₹1,223.20 crore, PAT ₹264.08 crore

For H1 FY26, consolidated revenue was reported at ₹1,223.20 crore, up 24.22% year-on-year. EBITDA grew 43.17% to ₹338.58 crore, while PAT rose 34.28% to ₹264.08 crore.

The company also stated that for the first two quarters of the year it achieved revenue of ₹1,243 crore and PAT of ₹264 crore (as separately cited in the provided text). While the revenue figure differs from the H1 FY26 consolidated revenue number reported above, both are presented as reported.

Data centres: Operational capacity at 28 MW, 63 MW target by Dec 2026

Anant Raj said it expanded operational data centre capacity to 28 MW and showcased its 28-megawatt facility on 1st and 2nd of August (as stated). Revenue from operations in Q2 FY26 included ₹35.47 crore from data centre infrastructure and allied services. In H1 FY26, the data centre contribution was ₹58.42 crore.

Management has also stated a target of 63 MW by December 2026, indicating a stepped-up buildout schedule tied to its “Data Center and Cloud” initiatives.

Partnership with Submer for AI data centres

The news flow also included updates that Anant Raj partnered with AI infrastructure company Submer to develop data centres in India. A separate item described Submer and Anant Raj Cloud teaming up to build sustainable AI data centres. The provided text does not specify project size, locations, capex, or timelines beyond the partnership and positioning.

QIP, debt prepayment, and net debt disclosure

The company stated it raised ₹1,100 crore through a QIP, which increased paid-up equity capital. It also said it prepaid ₹125 crore of debt and remained net cash positive after the repayment.

Separately, management commentary said net debt was maintained below ₹50 crore for five consecutive quarters, indicating an emphasis on leverage control even as it funds new capacity.

Pipeline updates: launches, approvals, and commercial projects

Operational updates included real estate launches on track with planned launches of almost 2.6 million square feet for the year. The company also reported receiving RERA approval for 5 lakh square feet of floors on 6.075 acres, and an LOI for group housing of 1.1 million square feet on 5.8 acres.

On the commercial side, projects mentioned include Ashok Towers in 63A, and a first endeavour in Delhi with 7 lakh square feet, expected to be completed by FY28.

FY2024-25 annual review: income ₹2,100 crore, PAT ₹426 crore

In its FY2024-25 review, the company stated total income rose 38% to ₹2,100 crore, while EBITDA increased 43% to ₹532 crore. Profit after tax increased 60% to ₹426 crore.

The annual report-style disclosures also include standalone net profit after tax of 21,916.20 lakhs (₹219.162 crore) versus 13,002.02 lakhs (₹130.0202 crore), a growth of 68.56%. Consolidated net profit after tax was reported at 42,581.86 lakhs (₹425.8186 crore) versus 26,592.62 lakhs (₹265.9262 crore), a growth of 60.13%.

Key numbers at a glance

What this means for investors and the sector

The numbers show a company attempting to balance two cycles: real estate cash flows from project launches and deliveries, and longer-gestation data centre capacity creation. The reported improvement in EBITDA margin in Q4 FY25, and the strong EBITDA growth in Q2 and H1 FY26, suggest operating leverage as revenue rises.

At the same time, the disclosures on net debt staying below ₹50 crore for multiple quarters and the QIP-backed balance sheet indicate a preference for liquidity as it scales newer verticals. With a stated capacity target of 63 MW by December 2026, execution and utilisation levels in data centres are likely to remain a key operating metric alongside approvals and launches in the core real estate business.

Conclusion

Anant Raj’s recent updates combine strong quarterly profitability, a shareholder payout of ₹0.73 per share, and a clearer push into data centres through capacity expansion and partnerships. The next set of cues will come from progress on planned launches, commercial project timelines through FY28, and updates on the path from 28 MW to 63 MW by December 2026.