What Anant Raj does

Anant Raj Limited (NSE: ANANTRAJ) is a publicly listed Indian real estate and infrastructure developer founded in 1969 in New Delhi, headquartered at H-65, Connaught Place, with a registered office at IMT Manesar, Haryana. The company operates four integrated business segments: (1) luxury residential development through the 220-acre Anant Raj Estate township in Sector 63A, Gurugram, comprising Estate Villas, Estate Floors, Ashok Estate, the newly launched The Estate Residences (248-unit luxury high-rise), and Estate Apartments, plus the Birla Navya JV with Birla Estates; (2) commercial leasing of LEED-certified Grade A office and IT/ITeS space at Anant Raj Building (Sector 44) and Anant Raj Tech Parks (Manesar, Panchkula), fully leased to anchor tenants including HSBC, SC Johnson, William Sonoma, and Greenply; (3) hospitality through leased operations of Stellar Resort, Bel La Monde, and Misaki Service Apartments; and (4) AI-ready data centre and cloud services through Anant Raj Cloud, currently operating 28 MW of IT load with a FY32 target of 307 MW, deploying Submer liquid-cooling technology (PUE sub-1.03) and InferX neocloud infrastructure across Manesar, Panchkula, and Rai campuses under a Rs 20,000-25,000 crore Haryana MoU and a Rs 4,500 crore Andhra Pradesh MoU.

The company's revenue model is hybrid: one-time residential sales (Estate Villas, Floors, Apartments, The Estate Residences), recurring commercial lease rentals from MNC tenants and hospitality operators, and managed data centre colocation and cloud services billed per MW/rack/usage. Its go-to-market is sales-led across dedicated channels ([email protected] for residential, [email protected] for commercial) with enterprise direct sales to hyperscalers, cloud providers, and government bodies for data centre services, supplemented by JV partnerships with AIPL (Joy Square) and Birla Estates (Birla Navya). Headquartered in New Delhi with operations across Delhi NCR, Haryana, Andhra Pradesh, and a newly incorporated Singapore subsidiary for international cloud services.

FY26 total income reached Rs 2,579.08 crore (up from Rs 425.82 crore) with Rs 557.02 crore in profit and Rs 806.90 crore in cash reserves. In October 2025, the company raised Rs 1,100 crore through a QIP, and in July 2026 the board approved the demerger of its data centre and cloud business into a separately listed entity, Ashok Cloud Private Limited.

Name

Anant Raj

Legal name

Anant Raj Limited

Website

https://anantrajlimited.com

Company type

Public

Founded year

1969

Operating status

Operating

Headcount range

101–250 employees

Short description

Anant Raj Limited (NSE: ANANTRAJ) is a 1969-founded Indian listed real estate and digital infrastructure developer in Delhi NCR, serving HNIs with luxury residential projects in Gurugram, MNCs with Grade A commercial leasing, hospitality operators, and AI data centre clients via its 28 MW (307 MW FY32 target) Anant Raj Cloud business, now demerging into Ashok Cloud.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Nonresidential Property Managers (531312), Rental and Leasing Services (532)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Hotels & Motels (7011)

akta.pro primary industry

Flex / R&D Industrial Space Brokerage (BPAJACAC)

akta.pro secondary industries

Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE), Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Luxury residential development
• Commercial IT park leasing
• Ai-ready data centers
• Hospitality real estate
• Integrated infrastructure development

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Residential Property Sales: Anant Raj develops and sells luxury residential products including villas, builder floors, apartments, and plots under the Anant Raj Estate township in Gurugram (Sector 63A). Revenue is recognised on completion and possession of units. Key projects include Estate Villas, Estate Floors, Ashok Estate, The Estate Residences (new high-rise launch), Estate Apartments (new launch), and Birla Navya (JV with Birla Estates). The company reported total income of Rs 2,579.08 crore in FY26, growing from Rs 425.82 crore, driven by strong real estate and data centre growth.
2. Commercial Leasing & IT Parks: Anant Raj leases commercial office spaces, IT parks, and retail spaces to corporate tenants. Anant Raj Business Square (Sector 44, Gurugram) and Anant Raj Tech Parks (Manesar and Panchkula) are fully leased to marquee tenants including HSBC, SC Johnson, William Sonoma, and Greenply. Additional leasing includes Karol Bagh Mall (retail) and Joy Square (JV with AIPL, retail). Rental income provides recurring revenue from institutional-grade tenants.
3. Data Centre & Cloud Services: Anant Raj develops, owns, and operates data centres offering colocation, cloud, and AI-ready infrastructure services. The company operates 28 MW of IT load in Manesar and Panchkula, with plans to scale to 307 MW by FY32. The company has partnered with Submer for AI infrastructure, Orange Business for cloud expansion, and Submer's InferX platform for neocloud services. A Rs 74.86 crore investment was made in Ashok Cloud Pvt Ltd (subsidiary) to fund data centre development. The demerger of this business into Ashok Cloud Private Limited (independently listed) is pending regulatory approval.
4. Hospitality Operations: Anant Raj develops and operates hospitality properties, leasing them to professional operators. Stellar Resort (NH8, New Delhi) is leased to Stellar and features 60-room premium facility. Bel La Monde (near Qutub Minar) is leased to Belmond Group. Misaki Service Apartments (IMT Manesar) is leased to Misaki Hotel. All hospitality projects are completed and operational, generating lease rental income.
5. Equity Capital Raise (QIP): Anant Raj raised Rs 1,100 crore through a Qualified Institutional Placement (QIP) in October 2025, issuing over 1.66 crore shares at Rs 662 each. This capital is being deployed for data centre expansion and general corporate purposes.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Anant Raj Limited develops, sells, and leases luxury residential properties (villas, builder floors, high-rise apartments, plotted developments) under the Anant Raj Estate township in Gurugram's Sector 63A Golf Course Extension Road corridor. The company also leases Grade A commercial office spaces and IT parks (Anant Raj Building, Tech Park Manesar, Tech Park Panchkula) to corporate tenants, operates hospitality properties (Stellar Resort, Bel La Monde, Misaki Service Apartments) leased to international operators, and develops AI-ready data centres through Anant Raj Cloud with liquid-cooling technology for hyperscalers and enterprises.

Product overview

Anant Raj Limited operates a diversified portfolio of real estate and digital infrastructure businesses. The company offers residential products (luxury villas, builder floors, high-rise apartments, and townships) under the Estate brand in Gurugram; commercial properties including LEED-certified IT parks and retail spaces; and hospitality ventures leased to international operators. The company has expanded into digital infrastructure through Anant Raj Cloud, providing AI-ready data centers with liquid-cooling technology for GPU-intensive workloads, with a target capacity of 307 MW by FY32. The company announced a demerger of its data center business into Ashok Cloud Private Limited for independent listing. The Singapore subsidiary extends cloud services to international markets.

Differentiator

Problem solved

Functional benefit

Brands

• Ashok Cloud: Data centre and cloud services business entity being demerged from Anant Raj Ltd for independent listing
• Estate Residences
• Estate Floors
• Estate Villas
• Ashok Estate
• Anant Raj Tech Park
• Anant Raj Building

Products and services

• The Estate Residences Luxury high-rise residential project in Sector 63A, Gurugram, comprising 4 elegant towers with 248 exclusive 4 BHK homes, 750 planned parking spaces, private lifts, master bedrooms with lockable walk-in closets, sky lounge restaurant access, and smart home automation. Targeted at HNIs and ultra-HNIs seeking premium residences on Golf Course Extension Road.
• Estate Apartments Ready-to-move 4 BHK luxury apartments on 400 sq yd plots with fully automated homes, split air-conditioning, advanced security systems, and premium specifications. Located in Sector 63A, Gurugram, targeted at luxury homebuyers seeking move-in ready residences.
• Estate Villas Low-density luxury villas spread across 100+ acres in a gated community near Golf Course Extension Road, Sector 63A, Gurugram. Features independent villas with premium amenities for HNIs and affluent families seeking premium ultra-luxury living.
• Estate Floors Luxury builder floors with spacious layouts, premium finishes, and low-density community lifestyle in Sector 63A, Gurugram. Targeted at HNIs seeking independent luxury living with privacy within a gated community.
• Ashok Estate Premium residential township spanning 220 acres featuring multiple residential projects including villas, floors, plots, and high-rise apartments. Located in Sector 63A, Gurugram, it is the flagship Anant Raj Estate branded development. (Note: RERA: 64 of 2022).
• Anant Raj Tech Park (Manesar) Grade A IT/ITeS commercial space in IMT Manesar, Haryana. Completed with full occupancy and tenants including HSBC, SC Johnson, William Sonoma, and Greenply. Targeted at multinational corporations and IT/ITeS companies seeking premium commercial office space.
• Anant Raj Tech Park Panchkula Grade A IT/ITeS commercial space in Panchkula, Haryana, spanning 9.23 acres with 1.60 million sq ft total developable area and 1.10 million sq ft leasable space. Phase I (0.50 million sq ft) is completed and partly leased. Targeted at large enterprises and IT/ITeS firms.
• Anant Raj Building (Anant Raj Business Square) LEED-certified Grade A commercial development in Sector 44, Gurugram, spanning 2.075 acres with 150,000 sq ft built-up area, fully leased to multinational corporations including HSBC, SC Johnson, William Sonoma, and Greenply. Features energy-efficient design and modern office infrastructure.
• Karol Bagh Mall Retail and commercial hub in Karol Bagh, Delhi, with 100,000 sq ft constructed area, modern infrastructure, and parking facilities. Targeted at retail brands and commercial tenants seeking high-footfall Delhi location.
• Joy Square (JV with AIPL) Premium commercial and retail venture developed in partnership with AIPL. Features retail spaces, high-street stores, and contemporary work zones in Sector 63A, Gurugram. Targeted at retail brands, F&B operators, and commercial tenants within the Anant Raj Estate township.
• Misaki Service Apartments Hospitality property in IMT Manesar with 120 rooms across 1 acre and 100,000 sq ft, leased to Misaki Hotel. Serves business and leisure travellers near corporate hubs in Gurugram.
• Bel La Monde Luxury hospitality development 10 km from IGI Airport, New Delhi, spanning 5.75 acres with Phase I (100,000 sq ft) completed and leased to Belmond Group. Targeted at premium business and leisure travellers.
• Stellar Resort Hospitality development on NH8 near IGI Airport, New Delhi, spanning 7.61 acres with 600,000 sq ft total developable FAR. Phase I includes 60-room premium facility of 100,000 sq ft, completed and leased to Stellar. Targeted at airport-adjacent business and leisure travellers.
• Anant Raj Cloud — AI-Ready Data Centre & Sovereign Cloud Services AI-ready data centre and cloud services division offering colocation, sovereign cloud infrastructure, and liquid-cooled facilities for GPU-intensive AI workloads. Operates 28 MW in Manesar and Panchkula with plans to reach 307 MW by FY32. Submer partnership delivers PUE of sub-1.03 vs 1.5+ for conventional air-cooled facilities. Empanelled as Sovereign Cloud Service Provider. Targeted at hyperscale cloud providers, large enterprises, government agencies, and AI-focused companies requiring energy-efficient digital infrastructure.
• Anant Raj Estate Township Flagship 220-acre integrated township in Sector 63A, Golf Course Extension Road, Gurugram, encompassing residential projects (Estate Villas, Estate Floors, The Estate Residences, Estate Apartments, Ashok Estate), commercial developments (Joy Square JV with AIPL), and community infrastructure including Estate Club and retail. Targeted at HNIs, families, and premium end-users seeking integrated township living.

Quantifiable outcome

• Shares rose 180% in 2024, hitting a record high of Rs 744.1 on October 7, 2025, before the market correction
• +7 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Haryana Government (Haryana Enterprises Promotion Centre)coreStrategic or Co-development Partner · 1 June 2026Anant Raj signed an MoU with the Government of Haryana (via Haryana Enterprises Promotion Centre) to invest Rs 20,000-25,000 crore in developing large-scale data centre infrastructure across Haryana. The state government committed to provide facilitation and ease of doing business support. The project is expected to generate approximately 6,000 direct and indirect employment opportunities and contribute to Haryana's digital economy.
• Andhra Pradesh GovernmentcoreStrategic or Co-development Partner · 1 June 2026Anant Raj (through subsidiary Anant Raj Cloud Pvt Ltd / ARCPL) signed an MoU with the Andhra Pradesh government to invest Rs 4,500 crore in AI data infrastructure in the state, including near Visakhapatnam. This aligns with Andhra Pradesh's target of 6 GW hosting capacity for data centres and the state's positioning as an emerging AI hub following Google's $15 billion investment in the region.
• SubmercoreStrategic or Co-development Partner · 20 February 2026Anant Raj signed a strategic MoU with Spain-based Submer at the India AI Impact Summit 2026 to develop AI-ready data centres across India. The partnership combines Submer's liquid-cooling technology and InferX neocloud platform with Anant Raj's campus development capabilities in Manesar and Panchkula, Haryana. Submer's technology achieves PUE of sub-1.03 versus 1.5+ for conventional air-cooled facilities, enabling energy-efficient deployment of high-density, GPU-intensive AI workloads. The initiative aligns with India's Digital India and Self-Reliant India programmes and supports India's data sovereignty requirements.
• Orange BusinesscoreStrategic or Co-development Partner · 19 October 2024Anant Raj Cloud (the company's data centre subsidiary) partnered with Orange Business for cloud and data centre expansion in India. Orange Business brings global expertise in cloud services and network infrastructure to support Anant Raj's data centre growth ambitions across India.
• AIPL (AIPL Joy Square)minorStrategic or Co-development Partner · 1 January 2019Anant Raj entered a joint venture with AIPL (Advanced India Projects Ltd) to develop Joy Square, a mixed-use commercial retail and office project in Sector 63A, Gurugram. The JV combines Anant Raj's land and development expertise with AIPL's distribution reach and project management capabilities.
• Birla Estates Pvt Ltd (Birla Navya JV)minorStrategic or Co-development Partner · 1 January 2019Anant Raj partnered with Birla Estates Pvt Ltd (a division of Century Textiles and Industries) for the Birla Navya residential project — an 800-floor development within the Anant Raj Estate township in Gurugram. The JV leverages Birla Estates' brand and distribution in the premium residential segment.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• CtrlS Datacenters: Indian hyperscale data center operator with plans for 600+ MW capacity. Comparable to Anant Raj's AI-ready data center ambitions, with similar focus on hyperscalers and enterprise colocation across India.
• DLF Limited: India's largest listed real estate developer with diversified residential, commercial, and rental portfolios. DLF is the most direct comparable to Anant Raj given its scale, Delhi NCR presence, and luxury positioning, though it serves a broader geographic footprint.
• Brigade Enterprises: Listed Indian real estate developer with diversified residential, commercial, and hospitality portfolio. Comparable to Anant Raj in business model and product breadth, though South India-focused rather than North India.
• Oberoi Realty: Listed luxury real estate developer concentrated in Mumbai's premium corridors. Highly comparable on luxury positioning, project-tower approach, and listed-equity scale, though geographically concentrated in Mumbai rather than Delhi NCR.
• Yotta Data Services: India's largest homegrown data center operator, part of the Hiranandani Group. Direct comparable to Anant Raj Cloud / Ashok Cloud on the data center growth business, with similar hyperscaler-targeting model and sovereign cloud positioning.
• Godrej Properties: Listed Indian real estate developer with strong residential focus across multiple metros. Comparable to Anant Raj in business model (developer-led, premium brand), asset-light strategy, and listed equity access, though more diversified across India's top cities.
• Macrotech Developers: Listed luxury real estate developer focused on premium and ultra-luxury residential projects across MMR (Mumbai Metropolitan Region). Direct comparable on luxury residential positioning and developer model, with similar flagship-tower product strategy.
• Sobha Limited: Listed Indian real estate developer with luxury residential positioning and backward-integration model. Comparable on premium residential focus and developer-led execution, with similar mid-large enterprise scale.

Broad incumbents

• Embassy Office Parks REIT: India's first listed REIT focused on commercial office parks. Comparable to Anant Raj's commercial leasing segment (IT parks, business square) in terms of asset class and tenant profile, though operates as a REIT rather than developer.
• Nxtra Data (Bharti Airtel): Telco-affiliated data center operator in India with large-scale capacity. Comparable to Anant Raj's data center ambitions as a broader incumbent in the same digital infrastructure category, with parent-company distribution leverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/anantrajlimited
• YouTubeyoutube.com/@ARLGurugram
• Facebookfacebook.com/anantrajlimited
• LinkedInlinkedin.com/company/anantraj-industries-ltd
• Instagraminstagram.com/anantrajlimited/?hl=en

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Anant Raj