Anant Raj Ltd's Profit Leap and Ambitious Fundraising Strategy

Anant Raj Ltd's net profit surged by 76% to Rs 105.58 crore in Q2. The company aims to raise Rs 2,000 crore by issuing securities to institutional investors. Total income rose significantly, and the board approved equity and warrant issues, including Rs 100 crore for promoter-related shares.

In an impressive financial performance, realty firm Anant Raj Ltd reported a 76% increase in its consolidated net profit, reaching Rs 105.58 crore for the second quarter of the current fiscal. The company's total income climbed to Rs 523.75 crore during the July-September period, a notable rise from Rs 340.83 crore in the same period last year.

To capitalize on its financial upswing, Anant Raj Ltd's board has greenlit the issuance of equity shares or other convertible securities via Qualified Institutions Placement (QIP), aiming to raise up to Rs 2,000 crore. This strategic move is intended to bolster the company's growth trajectory and further investments.

Additionally, the board approved the issue and allotment of fully convertible warrants. These warrants will grant holders, primarily within the promoter and promoter group, the right to acquire equity shares worth Rs 100 crore. The Delhi-NCR based developer's announcement signals its intent to leverage its increased profitability for expansion and shareholder value enhancement.

(With inputs from agencies.)