This S&P BSE Smallcap index stock jumped 3.8% within the first half hour of markets opening on Monday after the company announced commencement of 2 new projects. The stock currently trades at Rs. 238.60 versus Rs. 234.50 at previous close. The company has a market cap of Rs. 7,691 crore and made its 52 week high today at Rs. 244.00.
The company has returned 112% YTD and 135% in the last 1 year period making it a multibagger. Meaning, if you invested Rs. 1 lakh into the company at the start of CY2023, it would now be worth over 2.1 lakh!
In a filing dated 16th October 2023, Anant Raj Ltd (“Anant Raj”) stated that it has commenced a new project namely “Anant Raj Centre” located in Mehrauli (South Delhi), New Delhi, having a developable area of approx. 700,000 square feet, a mix of Office Space, Hospitality, and Serviced Apartments.
For this Project, the Company got all the approvals for commencement of Construction of the Project including Registration from the Real Estate Regulatory Authority, (“RERA”) NCT of Delhi. The RERA registration certificate has been granted for the project and bears the project registration number DLRERA2023P0009.
The Company through its wholly-owned step-down subsidiary, M/s Jai Govinda Ghar Nirman Limited, is commencing an affordable housing project namely “Anant Raj Aashray-11” located in Electronic Manufacturing Cluster 2 (EMC 2), Tirupati, Andhra Pradesh, developed by The Andhra Pradesh Industrial Infrastructure Corporation (APIIC). The Project has a saleable area of approx. 10,00,000 square feet for development of the Affordable Housing.
For this Project, the Company got all approvals for the commencement of Construction and selling the Project including Registration from RERA, Andhra Pradesh. The RERA certificate has been granted for the project vide registration number P10130304032.
Anant Raj is primarily engaged in the business of construction and infrastructure development in India.
Written by Sandeep R
