Anant Raj Limited (515055) Q2 2026 earnings summary

Executive summary

• Achieved strong revenue and profit growth in Q2 and H1 FY26, driven by real estate and data center segments, with net debt below INR 50 crore for the fifth consecutive quarter and a net cash positive position after prepaying INR 125 crore of debt.

• Successfully delivered 28 MW data center capacity, showcased the 'Bharat Built from Soil to Server' initiative, and advanced several residential and commercial projects.

• Launched Ashok Cloud, a sovereign cloud platform, and completed a QIP of INR 1,100 crore, increasing paid-up equity capital and strengthening liquidity.

• Major client acquisition for colocation and cloud services, with operational milestones at Panchkula, Manesar, and Rai.

• Dividend of INR 25.06 crore paid for FY25, with consistent payout of 36.5% of face value.

Financial highlights

• Q2 FY26 consolidated revenue: INR 630.79 crore, up 23% YoY; EBITDA: INR 177.94 crore, up 43.85% YoY; PAT: INR 138.18 crore, up 30.79% YoY; EBITDA margin: 27.76%; PAT margin: 21.56%.

• H1 FY26 consolidated revenue: INR 1,223.20 crore, up 24.22% YoY; EBITDA: INR 338.58 crore, up 43.17% YoY; PAT: INR 264.08 crore, up 34.28% YoY.

• Standalone Q2 FY26 revenue: INR 370.62 crore; net profit: INR 74.21 crore; H1 revenue: INR 723.03 crore; net profit: INR 143.91 crore.

• Five-year revenue CAGR: 69%; EBITDA CAGR: 76%; PAT CAGR: 149%.

• Net cash from operating activities (standalone) for H1 FY26 at INR 155.63 crore; cash and cash equivalents at INR 222.52 crore as of September 30, 2025.

Outlook and guidance

• Data center capacity to reach 63 MW by December 2026 (49 MW Co-location, 14 MW Cloud), scaling to 117 MW by FY 2028, and targeting 307 MW total IT load by 2032.

• Targeting INR 1,200 crore annual data center revenue from 63 MW capacity by FY 2027.

• Group Housing and township expansion projects in Gurugram progressing, with new launches and approvals expected in FY26.

• No immediate plans to increase debt; focus remains on disciplined growth and maintaining a strong balance sheet.