Anant Raj Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call analysis: revenue, margin, capex, fundraise and order book outlook from management commentary.

Published 17 Jul 2026 | Realty | Market Cap: ₹22.6K Cr

Data Center revenue expected to scale up substantially, targeting INR 1,200 crores by FY 2027-28 from 63 MW capacity expanding to 117 MW (87 MW Colocation, 36 MW Cloud). Anant Raj Limited projects strong revenue growth, targeting INR 1,200 crores revenue from Data Center by FY '27, driven by expansion to 63 MW capacity.

From Anant Raj Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹625

Market Cap

₹22.6K Cr

P/E Ratio

40.8

How does Anant Raj Ltd rank in Realty?

Compare Anant Raj Ltd against every Realty company this quarter on revenue, margins and earnings-call signals.

Revenue: Rank 2Margin: Rank 3

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Anant Raj Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹647 Cr, net profit ₹149 Cr.

Full financials →

📊 Revenue & Sales Performance

Rank 2

→Data Center revenue expected to scale up substantially, targeting INR 1,200 crores by FY 2027-28 from 63 MW capacity expanding to 117 MW (87 MW Colocation, 36 MW Cloud).
→Cloud segment to increase from 6 MW in FY 2026 to 36 MW by FY 2028, with managed services and infrastructure offerings growing.
→Colocation projected to remain stable; margins expected to improve as additional services are added.
→Real estate launches planned: Phase-IV of Anant Raj Estate (5 lakh sq ft), luxury high-rise Estate One in Gurugram (1.1 million sq ft), and another Group Housing over 5.2 acres, all targeted for launch by FY 2026-27.
→Residential sales gaining traction with significant demand in luxury segments, especially in Gurugram and Delhi markets.
→Overall revenue growth supported by Data Center, Cloud, and real estate segments; company confident in achieving targets and sustainable growth.

📈 Profitability & Margins

Rank 3

→Anant Raj Limited projects strong revenue growth, targeting INR 1,200 crores revenue from Data Center by FY '27, driven by expansion to 63 MW capacity.
→By FY '28, Data Center capacity is expected to increase to 117 MW, with a Cloud-Colocation mix of 36 MW and 87 MW respectively, further boosting revenues.
→EBITDA margins for Data Center business (including Cloud and Colocation) are high, around 75%, with potential for margin improvement through added managed services.
→Cloud business offers scalable revenue with payback roughly in 2 years, providing managed services and bulk license benefits to customers.
→The company aims to maintain disciplined execution and strong financial health, with net cash positive status and reduced debt.
→Growth in Data Center and Cloud segments will complement steady real estate business, supporting sustainable long-term earnings and profit expansion.
→Specific future PAT and EPS guidance is not provided, but management indicates confidence in meeting targets based on past performance.

See what Anant Raj Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

Yes

→The company is focused on expanding its Data Center business with a target of 307 megawatts by FY 2031-32.
→Current CAPEX split is approximately 75% Colocation and 25% Cloud, with plans to maintain or increase Cloud share based on demand.
→Additional CAPEX for existing buildings is INR 26 crores per megawatt.
→Expansion plans include commissioning 63 megawatts by December 2026, consisting of roughly 14 MW Cloud and the balance Colocation.
→The company has sufficient capital for ongoing expansion with no immediate need to raise funds.
→Capital employed in the Data Center business reached about INR 700 crores as of H1 FY 2026, with INR 187 crores added recently.
→Real estate projects are on track with ongoing launches and development in Delhi and Haryana, including Ashok Towers and other commercial projects expected to complete by FY 2028.

💰 Fundraising & Capital Structure

→The company successfully completed a Qualified Institutional Placement (QIP) of INR 1,100 crores recently, strengthening its financial position.
→The promoters converted warrants worth INR 100 crores ahead of schedule, providing additional funds.
→The company is currently net cash positive and has prepaid INR 125 crores of debt, indicating strong cash reserves.
→According to management, there is sufficient capital available for ongoing and upcoming Data Center expansions.
→No explicit plans for future fundraising through debt or equity were mentioned; the company states it is fully funded for its current 63 MW Data Center capacity target.
→They plan to maintain a near-zero debt position and focus on internal accruals and existing capital for growth.

See what Anant Raj Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

No information

→The transcript does not explicitly mention the current or expected order book or pending orders in precise figures.
→However, it indicates strong demand in the Data Center segment, particularly in Cloud and Colocation services, with 63 megawatts expected to generate INR 1,200 crores revenue by FY '27.
→The company has ongoing projects, including 35 megawatts commissioned across Rai and Manesar locations.
→Residential projects under advanced stages of launch include Phase-IV of Anant Raj Estate (5 lakh sq ft), a high rise of 1.09 million sq ft, and another project over 5.5 acres with 1 million sq ft potential, targeting majority approvals by Q4 FY '26.
→The company expresses confidence in leasing out the full 307 megawatts of Data Center capacity by FY 2032, supported by growing demand and government data localization trends.
→No exact outstanding order book values are disclosed, but the tone reflects a healthy pipeline and strong visibility.

Key Metrics

1 of 5 growth signals positive in the Q2 FY26 call.

Revenue

Rank 2

Margin

Rank 3

Capex

Yes

Fundraise

Order Book

No information

How does Anant Raj Ltd rank vs peers in Realty?

Pro feature

1Anant Raj Ltd

Rev 2Mar 3

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What Anant Raj Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Anant Raj Ltd Q2 FY26 results?

What is Anant Raj Ltd share price analysis?

Anant Raj Ltd currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 40.8 with a market cap of ₹22,607 Cr. Investors should review the full earnings analysis for detailed insights.

Is Anant Raj Ltd planning capital expenditure?

The company is focused on expanding its Data Center business with a target of 307 megawatts by FY 2031-32.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.