Anant Raj Limited (515055) Q4 23/24 earnings summary

Executive summary

• Q4FY24 revenue rose 56% YoY to INR 453 crores, with EBITDA up 39% YoY to INR 115 crores and net profit up 71% YoY to INR 84 crores.

• Major debt reduction achieved; net debt down to INR 290 crores from INR 988 crores YoY, targeting zero net debt by end of 2024.

• Board approved audited standalone and consolidated results for Q4 and FY24, with a final dividend of 36.5% (Re. 0.73/share) recommended, subject to AGM approval.

• Raised INR 500 crores via QIP, reflecting strong investor confidence.

• Auditors issued unmodified opinions on both standalone and consolidated results.

Financial highlights

• FY24 consolidated revenue reached INR 1,521 crores, up from INR 1,005 crores in FY23; Q4 revenue at INR 453 crores.

• FY24 consolidated net profit at INR 266 crores, up from INR 151 crores in FY23; Q4 net profit at INR 84 crores.

• Net debt reduced by 81% YoY to INR 290 crores.

• Borrowing cost reduced below 10% in Q4FY24.

• Final dividend of Re. 0.73 per share (face value Rs. 2) for FY24 recommended.

Outlook and guidance

• Targeting zero net debt by December 2024.

• Projected INR 15,000 crores revenue potential from residential sales in Gurugram over next 4-5 years.

• Plans to scale data center capacity to 307 MW IT load in 4-5 years.

• Focus on monetizing land bank and expanding township footprint.

• Management expects continued focus on real estate development, with no change in segmental focus.