NSE:ANANTRAJNSEReal Estate
Anant Raj Limited
📊 Real Estate - Development
Day ₹492
₹498 Overbought
52W ₹403
₹744 Oversold
₹496.30
▲ ₹3.20 (+0.65%)
Vol: 659,215 · Avg: 3,658,879
As of April 29, 2026 · 06:28 IST
COMPOSITE RISK SCORE
67 MODERATE
VAL:15/25 · FIN:18/25 · GRO:20/25 · TECH:14/25
📈 P/E RATIO
32.7x
Trailing
📖 P/B RATIO
3.9x
Price to Book
💰 EPS
₹15.19
TTM
🏛 MARKET CAP
₹17,861Cr
Mid Cap
📊 ROE
10.2%
Return on Equity
📈 REV GROWTH
20.0%
YoY
🏢 Company Analysis · Anant Raj Limited
💼 BUSINESS MODEL
  • Anant Raj Limited is primarily engaged in the real estate and infrastructure development business in India..
  • It develops and constructs residential townships, group housings, commercial developments, information and technology parks, malls, office complexes, affordable housings, data centres, hospitality, and serviced apartments..
  • The company was formerly known as Anant Raj Industries Limited and changed its name to Anant Raj Limited in October 2012..
  • The company was founded in 1969 and is headquartered in New Delhi, India..
  • Operates in Real Estate - Development within the Real Estate sector.
🏰 MOAT & COMPETITION
  • Mid-cap (₹17,861 Cr) — growing company in a competitive landscape.
  • Profit margin of 21.9% suggests pricing power / cost moat.
  • Key competitors: Ganesh Housing, DLF, Sri Lotus, Prestige Estates.
🚀 CATALYSTS
  • Company has delivered good profit growth of 73.9% CAGR over last 5 years
  • Revenue growing at 20% — strong top-line momentum.
  • Earnings growth of 28% signals execution on profitability.
⚖️ ASYMMETRY CHECK
  • Analyst target range: ₹663 — ₹800 (mean ₹721, 3 analysts).
  • Moderate asymmetry — upside +61% vs downside +34% (1.8x).
  • P/E of 32.7x — fair value territory; catalysts needed for re-rating.
🔭 FUTURE OUTLOOK
  • Analyst consensus: None (3 analysts).
  • Latest quarter earnings grew 31% YoY — positive trajectory.
✅ PROS
  • Company has delivered good profit growth of 73.9% CAGR over last 5 years
❌ CONS
  • Stock is trading at 4.01 times its book value
  • Company has a low return on equity of 8.50% over last 3 years.
  • Promoter holding has decreased over last 3 years: -5.81%
VALUATION
15/25
25% WEIGHT
  • P/E at 33x
  • P/B at 3.9x
  • Analyst target: ₹721 (+45.3%)
  • 1Y return: +6.6%
FINANCIAL HEALTH
18/25
25% WEIGHT
  • ROE: 10.2%
  • Profit margin: 21.9%
  • Revenue growth: 20.0%
  • Debt/Equity: 13%
GROWTH
20/25
25% WEIGHT
  • Revenue growth: 20.0%
  • Earnings growth: 28.2%
  • Beta: 0.28
  • Sector: Real Estate
TECHNICAL
14/25
25% WEIGHT
  • RSI, MACD, MA crossovers
  • 200 DMA & 50 EMA position
  • Volume trend analysis
  • Price momentum signals
📈 Price Movement
🕯 Candlestick Chart
🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗
📉 Valuation Trends (at current CMP)
P/E Ratio at current CMP
1585.4 1196.0 806.6 417.2 27.8 '2014 '2015 '2016 '2017 '2018 '2019 '2020 '2021 '2022 '2023 '2024 '2025 TTM Mar 2014: 146.0 Mar 2015: 103.0 Mar 2016: 211.2 Mar 2017: 190.2 Mar 2018: 216.7 Mar 2019: 342.3 Mar 2020: 545.4 Mar 2021: 1378.6 Mar 2022: 266.8 Mar 2023: 104.9 Mar 2024: 65.0 Mar 2025: 40.0 TTM: 32.7 32.7
💎 Valuation & Financial Metrics
P/E RATIO
32.7x
Trailing twelve months
P/B RATIO
3.9x
Price to Book value
ROE
10.2%
Return on Equity
PROFIT MARGIN
21.9%
Net profit margin
OPM
24.4%
Operating profit margin
ANALYST TARGET
₹721
Range: ₹663 - ₹800
Yahoo Finance ↗
PEG RATIO
0.35
Price/Earnings to Growth
EV/EBITDA
28.7x
Enterprise value ratio
CURRENT RATIO
N/A
Liquidity measure
DIVIDEND YIELD
0.15%
Annual yield
ROA
9.7%
Return on Assets
GROSS MARGIN
29.8%
Gross profit margin
INDUSTRY AVERAGES — RESIDENTIAL, COMMERCIAL PROJECTS
P/E 33.9x (below avg)
P/B 2.5x (sector fair)
ROCE 16.6% (below avg)
ROE 15% (sector good)
OPM 25% (sector good)
Div Yield 0.47%
D/E <50 (sector comfort)
📋 Quarterly Performance Trend
QuarterRevenueQoQ %Net ProfitQoQ %Op. Cash FlowEBITDA Margin
Q2 FY25 N/A— N/A— N/A N/A
Q3 FY25 ₹535 Cr— ₹110 Cr— N/A 26.7%
Q4 FY25 ₹541 Cr+1.1% ₹119 Cr+7.8% N/A 28.1%
Q1 FY26 ₹592 Cr+9.6% ₹126 Cr+5.9% N/A 27.1%
Q2 FY26 ₹631 Cr+6.5% ₹138 Cr+9.7% N/A 28.2%
Q3 FY26 ₹642 Cr+1.7% ₹144 Cr+4.4% N/A 29.4%
📊 Year-on-Year Trend
FYRevenueYoY %Net ProfitYoY %Op. Cash FlowYoY %
FY22 ₹462 Cr— ₹57 Cr— ₹423 Cr—
FY23 ₹957 Cr+107.2% ₹151 Cr+167.4% ₹33 Cr-92.2%
FY24 ₹1,483 Cr+55.0% ₹266 Cr+76.0% ₹-26 Cr-177.6%
FY25 ₹2,060 Cr+38.9% ₹426 Cr+60.1% ₹97 Cr+478.6%
📈 Revenue vs Earnings
🎯 EPS: Estimate vs Actual
💰 How Anant Raj Limited Makes Its Money
Revenue ₹642 Cr Cost of Revenue ₹444 Cr Gross Profit ₹198 Cr Op. Expenses ₹42 Cr Operating Inc. ₹156 Cr Tax ₹30 Cr Interest ₹3 Cr Other ₹19 Cr Net Income ₹144 Cr (22.5% margin) Dec 2025 · All values in ₹ Crores
🏦 Snapshot of Anant Raj Limited's Balance Sheet
Total Assets ₹5.4K Cr Cash & Equiv.: ₹292 Cr (5.4%) Receivables: ₹45 Cr (0.8%) Inventory: ₹873 Cr (16.0%) Other Current: ₹1.4K Cr (25.3%) PP&E: ₹248 Cr (4.6%) Other Non-Curr.: ₹2.6K Cr (47.9%) Liab. + Equity ₹5.4K Cr Current Liab.: ₹523 Cr (9.6%) Long-Term Debt: ₹316 Cr (5.8%) Other Liab.: ₹180 Cr (3.3%) Equity: ₹4.4K Cr (81.3%) As of Sep 2025 · All values in ₹ Crores
💸 Looking into Anant Raj Limited's Cash Flow
Operating CF ₹97 Cr Capital Exp. ₹77 Cr Free Cash Flow ₹20 Cr Dividends ₹25 Cr FY2025 · All values in ₹ Crores
📅 Quarterly Results Source: Screener ↗
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +316332392443472513535541592631642
Expenses +257252302338369400401398442463472
Operating Profit608090104103113134142151168170
OPM %19%24%23%24%22%22%25%26%25%27%26%
Other Income +1099111011910101019
Interest788114233233
Depreciation4455588981113
Profit before tax57768699104114132141150164172
Tax %16%23%19%11%14%8%17%16%17%17%17%
Net Profit +5060718491106110119126138144
EPS in Rs1.561.852.222.292.663.093.233.463.674.024.01
Raw PDF
📊 Profit & Loss Statement Source: Screener ↗
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +4803502762504629571,4832,0602,405
Expenses +3702742242143867601,1491,5681,775
Operating Profit11075523576197334492631
OPM %23%22%19%14%16%21%23%24%26%
Other Income +491510203948374049
Interest552815312732351112
Depreciation262218171717183041
Profit before tax794029872197319491628
Tax %23%27%42%97%32%27%17%14%
Net Profit +664024953149271426527
EPS in Rs2.291.450.910.361.864.737.6312.4015.16
Dividend Payout %10%17%9%28%6%11%10%6%
🏦 Balance Sheet Source: Screener ↗
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital595959595965686969
Reserves4,1282,4422,4262,4402,5802,7603,5884,0924,331
Borrowings +2,6001,5911,6911,6631,2831,079627482563
Other Liabilities +686509412448463452585592483
Total Liabilities7,4734,6024,5884,6114,3854,3574,8685,2355,446
Fixed Assets +2,7891,3511,3421,3261,3101,3051,3141,3671,489
CWIP192146140904818223631
Investments594402461423460460302311313
Other Assets +3,8992,7032,6452,7722,5672,5733,2313,5203,612
Total Assets7,4734,6024,5884,6114,3854,3574,8685,2355,446
💰 Cash Flow Statement Source: Screener ↗
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +-127-305810-84-15042333-2697
Cash from Investing Activity +-33-2291,707-58531-20181-72
Cash from Financing Activity +193675-2,6794383-46121161
Net Cash Flow33141-162-4618-71527125
Free Cash Flow-162-5441,352-82-118466-5-5520
CFO/OP-73%-263%1,088%-137%-403%588%43%9%34%
📈 Key Financial Ratios
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days878065956417202522
Inventory Days
Days Payable
Cash Conversion Cycle878065956417202522
Working Capital Days8771,1131,5221,9462,6381,191659480323
ROCE %2%2%1%1%1%2%6%9%11%
🏭 Industry Peers — Residential, Commercial Projects
#CompanyCMPP/EMkt CapROCEQtr ProfitScore
1Ganesh Housing ★₹69413.8₹5,79044.0%-66.6%69
2DLF₹60034.4₹148,4576.5%+56.1%66
3Sri Lotus₹14731.7₹7,19637.1%+36.2%66
4Prestige Estates₹1,42763.4₹61,4827.7%+1157.6%65
5Lodha Developers₹91126.6₹90,97416.6%+9.3%64
6Kesar India₹1,243118.8₹3,55223.4%+808.8%63
7Oberoi Realty₹1,71927.7₹62,50917.7%+3.5%61
8Phoenix Mills₹1,81252.2₹64,79312.8%+50.0%59
9Anant Raj₹49633.9₹17,83211.2%+30.8%51
★ Ganesh Housing ranks higher on combined P/E, ROCE, and growth metrics in Residential, Commercial Projects
🏛 Shareholding Pattern
Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters60.01%60.16%60.12%60.12%57.41%57.41%
FIIs13.07%12.88%10.62%10.72%11.14%10.88%
DIIs6.71%6.57%6.22%5.82%5.20%4.83%
Public20.21%20.38%23.04%23.32%26.26%26.89%
No. of Shareholders1,56,5682,12,0342,57,8662,91,1653,35,1753,68,350
🟢 CATALYSTS
🏆Revenue Growth 20%: Above sector norm of 10% — strong top-line momentum.
💹Analyst Upside (45%): Mean target of ₹721 above current price.
🔀Low Beta (0.28): Less volatile than market — defensive play.
🇮Earnings Growth (28%): Above sector norm — strong profit expansion.
🔴 RISKS
📜Market Risk: Broader market correction or sentiment shift could impact stock.
💰Sector Risk: Regulatory or competitive changes in Real Estate space.
🔓Execution Risk: Growth may not meet elevated expectations.
🕸 Factor Analysis · Radar
Momentum 5/10: 1M +22.3%, 6M -21.9%, RSI 52, MACD bullish, Below 200DMA Sentiment 8/10: Analyst upside +45.3%, Rec: none Value 5/10: P/E 32.7, P/B 3.9, PEG 0.35, EV/EBITDA 28.7 Quality 7/10: Margin 21.9%, D/E 13 Low Volatility 7/10: Beta 0.28, Ann. vol 46% Momentum 5 Sentiment 8 Value 5 Quality 7 Low Vol 7
Momentum 5/10
1M +22.3%, 6M -21.9%, RSI 52, MACD bullish, Below 200DMA
Sentiment 8/10
Analyst upside +45.3%, Rec: none
Value 5/10
P/E 32.7, P/B 3.9, PEG 0.35, EV/EBITDA 28.7
Quality 7/10
Margin 21.9%, D/E 13
Low Volatility 7/10
Beta 0.28, Ann. vol 46%
🎯 Decision Matrix
ActionIf Stock RisesIf Stock Falls
BUYCapture 45.3% analyst upsideOPM of 24% provides margin buffer
HOLDRetain existing position; wait for better entry; FII stake falling (-0.26%)Miss further upside if momentum continues; 1M return of +22.3% shows momentum
SELLLock in +6.6% 1Y return; redeploy into Ganesh Housing at lower P/EAvoid further drawdown
REASONS TO BUY
  • Analyst upside of 45.3% with mean target of ₹721
  • Revenue growing at 20.0% YoY (sector norm: 3%)
REASONS TO SELL / AVOID
  • FII stake falling (-0.26%) — institutional exit signal
  • Ganesh Housing offers lower P/E (13.8) with ROCE of 44.0% in the same sector
📰 Latest News
Anant Raj Ltd (BOM:515055) Q2 2026 Earnings Call Highlights: Robust Revenue Growth and ...
GuruFocus.com · 2025-11-14T05:00
RECOMMENDATION
SPECULATIVE BUY
COMPOSITE SCORE
67/100
Anant Raj Limited trades at ₹496.30 with a composite risk score of 67/100. The stock scores 15/25 on valuation, 18/25 on financial health, 20/25 on growth, and 14/25 on technicals. The company is currently profitable with moderate return on equity.

Analyst consensus suggests upside of 45.3% with a mean target of ₹721. Revenue growth is at 20.0% — a strong positive signal.

Within Residential, Commercial Projects, Ganesh Housing (P/E 13.8, ROCE 44.0%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Positive for Real Estate but monitor closely. The current recommendation is SPECULATIVE BUY.
PROFITABLE UPSIDE POTENTIAL
RISK SCORE REPORT · NSE:ANANTRAJ · GENERATED APR 29, 2026 06:28 IST · DATA VIA YAHOO FINANCE + SCREENER.IN
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DATA MAY BE DELAYED. ALWAYS VERIFY WITH OFFICIAL SOURCES BEFORE INVESTING.