Anant Raj Q2 profit rises 13% to Rs 156.49 crore; data centre target set at 357 MW by FY32

What happened

Anant Raj Limited, a Delhi-based real estate developer listed on the NSE, announced its results for the quarter ended 30 September 2026 after its board met on Wednesday, 28 October 2026. The board also approved a target of 357 MW of data centre capacity by FY32 across North and South India.

On the same day, the company said in an exchange filing that it had received Haryana RERA registration for its Gurugram luxury residential project, The Estate One.

Quarterly results

• Net profit: Rs 156.49 crore for the quarter, up about 13.3% from Rs 138.18 crore in the same quarter last year. Profit was also 4.9% higher than in the previous quarter.
• Revenue from operations: Rs 661.53 crore, up 4.9% year on year and about 4.8% higher quarter on quarter.
• Total income: Rs 678.95 crore, against Rs 640.89 crore a year earlier.
• Expenses: Cost of sales fell to Rs 427.75 crore from Rs 439.16 crore. Total expenses rose to Rs 491.17 crore, which the company linked to higher depreciation and other operating costs.
• Pre-tax profit before exceptional items and share of associates: Rs 187.78 crore, against Rs 164.43 crore a year earlier. No exceptional items were reported.

For the half year ended 30 September 2026, consolidated revenue from operations rose to Rs 1,292.93 crore from Rs 1,223.20 crore, and profit rose to Rs 305.68 crore from Rs 264.08 crore. The statutory auditors gave an unmodified conclusion on the consolidated results.

The data centre plan

The company currently operates 28 MW of IT load across its campuses in Manesar, which accounts for 21 MW, and Panchkula, which accounts for 7 MW. Its target is 357 MW by FY32.

Managing Director Amit Sarin has linked the data centre business to the company's wider growth plans. Reports on the plan say the expansion is estimated at about Rs 25,000 crore and is to be funded from internal accruals and cash flows rather than fresh borrowing. Chief business officer Manoj Goyal has been quoted on the self-funding approach.

Earlier steps in the plan include a memorandum of understanding signed in June 2026 with the Haryana government to invest Rs 20,000 crore in large-scale data centre infrastructure. In May 2026, the company committed Rs 4,500 crore in Andhra Pradesh through Anant Raj Cloud for data centre infrastructure and cloud services. Earlier this month, Anant Raj Cloud Singapore Pte Ltd, a subsidiary, and Singapore-based Orange Business Services signed an MoU with the Haryana government to support hosting of overseas data in the state.

Analysts have reported interim milestones of 63 MW by FY27 and 117 MW by FY28. These figures come from third-party analysis and are not company-confirmed. One analyst has cautioned that the plan could face project delays and extended timelines.

The Estate One, Sector 63A

The Estate One is a luxury group housing project in Sector 63A on Golf Course Extension Road, Gurugram. The project covers 5.09 acres and has an approximate built-up area of 1.22 million sq ft. Reported configurations are 3 BHK and 4 BHK apartments. The company has said the project will have 352 residences, according to its investor presentation summary.

The RERA registration has an effective date of 20 August 2026, which the company has also treated as the project's launch date. In its 28 October 2026 statements, however, the company said the project was in process for launch and was likely to be launched soon. As of 29 October 2026, the project is RERA registered, and a formal commercial launch has not yet been held.

The project sits within the company's own township on Golf Course Extension Road. The company's land bank in the area is reported at 220 acres.

What it means for buyers and investors

• Home buyers: RERA registration is a precondition for marketing a project under the Real Estate (Regulation and Development) Act. Buyers should check the registered plan, timelines and approvals directly with the developer and on the Haryana RERA portal before booking.
• Investors: The results show profit growth and rising half-year revenue. Investors should note that data centre revenue is still small against the company's total revenue. The company reported data centre revenue of Rs 176.49 crore in FY26, or about 14% of recent quarterly revenue, according to press reports.
• Funding: The company says the data centre expansion will be funded from internal accruals and cash flows. Delivering 357 MW would require sustained execution over the FY27 to FY32 period.

What comes next

The company's board has approved a scheme to demerge its data centre and cloud business into a separately listed entity, Ashok Cloud Private Limited, effective 21 July 2026. Under the scheme, shareholders will receive one share of the new entity for every Anant Raj share held. Completion depends on regulatory, shareholder, creditor and tribunal approvals.

Other near-term items to watch are the formal commercial launch of The Estate One, which the company has described as likely soon, and progress against the 63 MW and 117 MW interim milestones reported by analysts.