Realty developer Anant Raj to raise up to Rs 2,000 crore via QIP
Anant Raj Ltd will raise up to Rs 2,000 crore via Qualified Institutional Placement (QIP) for expansion and development of projects.
Earlier this year, the company had raised Rs 500 crore QIP and used part of the funds raised to bring down the debt and working capital requirements.
The company has plans to invest around Rs 1,000 crore to develop a total of four projects across Gurugram, Delhi, and Tirupati.
The company reported 78% year-over-year increase in Profit After Tax (PAT), which rose to Rs 104.44 crore in July-September quarter from Rs 58.74 crore in the same quarter a year ago.
Revenue from operations saw a 54% increase, reaching Rs 512.85 crore, compared to Rs 332.28 crore during the same period last year.
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