Anant Raj Limited (515055) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 revenue rose 54% YoY to INR 524 crores, with EBITDA up 40% YoY to INR 124 crores and PAT up 75% YoY to INR 106 crores.

• Board approved unaudited financial results for Q2 and H1 FY25 and a QIP of up to INR 2,000 crores and INR 100 crores in convertible warrants for promoters.

• Net debt reduced to INR 96 crores from INR 220 crores sequentially; company targets zero net debt by end of 2024.

• Data center expansion on track, with 6 MW operationalized and 28 MW IT load targeted by FY25 end.

• Acquired 100% equity shares of Sheetij Properties Private Limited, expanding landholding in Gurugram.

Financial highlights

• Q2 FY25 consolidated revenue: INR 524 crores (up 54% YoY); PAT: INR 106 crores (up 75% YoY).

• H1 FY25 revenue: INR 1,005 crores (up 82% YoY); PAT: INR 197 crores (up 110% YoY).

• FY24 revenue: INR 1,494 crores; EBITDA: INR 371 crores; PAT: INR 266 crores.

• Net debt down 81% over three years to INR 220 crores in Q1 FY25 and INR 96 crores in Q2 FY25.

• Basic EPS (consolidated) for Q2 FY25 was Rs. 3.09, up from Rs. 1.85 in Q2 FY24.

Outlook and guidance

• Targeting zero net debt by December 2024.

• Monetizing land bank with INR 15,000 crores revenue potential from residential sales in Gurugram over 4–5 years.

• Data center capacity to scale up to 307 MW IT load in 4–4.5 years.

• Board authorized QIP and preferential issue to strengthen capital base and support growth plans.

• Cloud services to expand from IaaS to PaaS and SaaS.