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Delhi-based real estate developer building residential and commercial projects, now expanding into data centres.
Delhi-based real estate developer building residential and commercial projects, now expanding into data centres.
Sells apartments and plots in Delhi NCR, where it holds a large land bank accumulated over many years, so margin per project reflects cheap land. The shift into data centres, leasing capacity to cloud and AI users, is meant to add rental-style income.
Moat: none (installed base). Land bank in Delhi NCR is an asset, but real-estate development itself has limited pricing power.
Headquarters: New Delhi, India · Founded: 1969 · Employees: 873
Size Anant Raj (ANANTRAJ.NS) is an India Real Estate company (Homebuilding) with a market value of $1.70B, the 416th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹445.45 on 6 Nov 2026.
Performance Over six months the shares fell 19.9%, against -7.4% for the median peer and 0.0% for the India market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue grew 12.3% over the last twelve months (peer median +13.2%); the operating margin is 25.0% (peer median 21.6%).
Valuation It trades at 19.5× forward earnings against a peer median of 24.4× (2nd cheapest of 11).
Capital Return on invested capital runs 10.1 points below its cost of capital (17.9% WACC).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹25.8B | ₹25.1B | ₹20.6B | ₹14.8B | ₹9.57B |
| Revenue growth | — | +22% | +39% | +55% | — |
| Gross profit | ₹7.26B | ₹6.67B | ₹5.21B | ₹3.60B | ₹2.08B |
| EBITDA | ₹7.19B | ₹6.61B | ₹4.93B | ₹3.36B | ₹1.99B |
| Net income | ₹5.97B | ₹5.57B | ₹4.26B | ₹2.66B | ₹1.51B |
| Free cash flow | n/a | -₹5.93B | ₹2.01B | -₹231M | ₹326M |
| Capital expenditure | n/a | ₹3.61B | ₹770M | ₹440M | ₹418M |
| Total debt | ₹7.67B | ₹6.81B | ₹4.82B | ₹6.27B | ₹10.8B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Anant Raj ANANTRAJ.NS | $1.70B | -20% | +12% | 25% | 19.5× | n/a |
| DLF DLF.NS | $19.7B | +22% | -29% | 13% | 38.3× | n/a |
| Godrej Properties GODREJPROP.NS | $5.77B | -4% | +17% | 21% | 24.5× | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ANANTRAJ.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.2% | -4.4% | lowest of 21 |
| 6-month return | -19.9% | -7.4% | 5th lowest of 20 |
| Distance from 52-week high | -32.2% | -26.7% | 6th lowest of 21 |
| Revenue growth (TTM) | +12.3% | +13.2% | 11th highest of 21 |
| Operating margin | 25.0% | 21.6% | 8th highest of 21 |
| Forward P/E | 19.5× | 24.4× | 2nd cheapest of 11 |
| ROIC minus cost of capital | -10.1 pp | n/a | — |
| EV / EBITDA | 22.4× | n/a | — |
| Net debt / EBITDA | 0.1× | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Anant Raj ANANTRAJ.NS | India | $1.70B | -20% | +12% | 25% | 19.5× | n/a | n/a |
| Brigade Enterprises BRIGADE.NS | India | $1.93B | -4% | -4% | 23% | 20.0× | n/a | n/a |
| Sobha SOBHA.NS | India | $1.44B | -12% | +10% | 4% | 29.9× | n/a | n/a |
| Horizon Industrial Parks HORIZONIND.NS | India | $1.33B | n/a | +83% | 44% | n/a | n/a | n/a |
| Sri Lotus Developers and Realty LOTUSDEV.NS | India | $1.21B | +59% | +40% | 38% | 33.4× | n/a | n/a |
| Signatureglobal (India) SIGNATURE.NS | India | $1.11B | -17% | -23% | -7% | 22.8× | n/a | n/a |
| WeWork India Management WEWORK.NS | India | $1.00B | +26% | +25% | 24% | 62.0× | n/a | n/a |
| Max Estates MAXESTATES.NS | India | $872M | +20% | +5% | 28% | n/a | n/a | n/a |
| Indus Infra Trust INDUSINVIT.NS | India | $842M | +3% | +41% | 74% | n/a | n/a | n/a |
| NCC NCC.NS | India | $816M | -28% | -2% | 8% | 11.1× | n/a | n/a |
| Embassy Developments EMBDL.NS | India | $760M | -26% | -60% | -48% | n/a | n/a | n/a |
| Mahindra Lifespace Developers MAHLIFE.NS | India | $706M | -10% | +839% | 0% | 24.2× | n/a | n/a |
| Indiabulls IBULLSLTD.NS | India | $704M | +48% | +86% | 32% | n/a | n/a | n/a |
| Smartworks Coworking Spaces SMARTWORKS.NS | India | $623M | +12% | +31% | 21% | 54.9× | n/a | n/a |
| Nirlon NIRLON.NS | India | $611M | +9% | +5% | 69% | n/a | n/a | n/a |
| Ganesh Housing GANESHHOU.NS | India | $569M | -7% | -29% | 62% | n/a | 23.0% | +24.9% |
| Kalpataru KALPATARU.NS | India | $541M | -33% | +27% | 2% | n/a | n/a | n/a |
| Puravankara PURVA.NS | India | $501M | -10% | +118% | 20% | 20.5× | n/a | n/a |
| Godrej Properties GODREJPROP.NS | India | $5.77B | -4% | +17% | 21% | 24.5× | n/a | n/a |
| Valor Estate DBREALTY.NS | India | $482M | -40% | -54% | 12% | n/a | n/a | n/a |
| Man Infraconstruction MANINFRA.NS | India | $472M | -18% | -30% | 22% | n/a | n/a | n/a |