This real estate stock saw an intraday boom of 8% today; do you own it?

This real estate stock saw an intraday boom of 8% today; do you own it?

by 5paisa Research Team Last Updated: Dec 11, 2022 - 11:24 am 14.5k Views
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Today Anant Raj Ltd informed BSE to consider and approve its unaudited quarter-ended results.

On Tuesday the stock opened at Rs 94.85 and hit a high of Rs 104.95. The stock surged sharply with an intraday boom of 8%. The 52-week high and low of the stock are Rs 104.95 and Rs 42.65. The current market cap of the company is Rs 3297 crore and the stock is trading at a PE of 44.61 times. The stock saw high volumes spurt by 3.61 times on BSE. This sharp increase in the stock price was seen after the company informed BSE to consider and approve its unaudited quarter-end results.

Anant Raj Ltd was incorporated in 1985 as Anant Raj Clay Products by Ashok Sarin. It is primarily engaged in the development and construction of IT parks, hospitality projects, SEZs, office complexes, shopping malls and residential projects in Delhi, Haryana, Andhra Pradesh, Rajasthan and the NCR region.

The company has successfully developed more than 20 msf of real estate projects in the Housing, Commercial, IT Parks, Shopping Malls, Hospitality, Residential and Affordable Housing sub-segments.

The commercial assets include three IT Parks at Rai, Manesar and Panchkula, one shopping mall in Karol Bagh, Commercial Building at Sector 44 Gurugram and two hotels that provide steady rental income. Co. has a total developed area of 5.5 msf of commercial space of which 30% of space is already leased out and generating income.

Companies 89% of revenue is generated from its Real Estate Sales and rental services amounts for the remaining revenue. The company's top line is expanded at a 10% CAGR during the past three years. The company's revenue for FY22 was Rs 462 crore. In FY22, it had a net profit of Rs 48 crore. The topline increased by a staggering 156% YOY in the June quarter to Rs 159 crore. Between Q4FY22 and Q1FY23, the operating profit increased from 11.6% to 20.1%. The business generated Rs 458 crore in cash from operations in FY22.

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