Whalesbook
Dekho, Anant Raj Ltd ne ekdum solid move socha hai! Woh apne data center business ko main real estate operations se alag karne ki planning kar rahe hain. Iska main reason hai India mein jo digital infrastructure ka boom aa raha hai, usse full fayda uthana. AI, digitalization, aur government schemes ki wajah se yeh sector bohot fast grow kar raha hai, aur company ko lagta hai ki isme pakad banane ke liye alag focus zaroori hai.
Data Center Dreams: Kitna Bada Plan Hai?
Anant Raj ne data centers ke liye ek dum mast plan banaya hai. Target hai 2032 tak 357 MW IT load capacity tak pahunchna, jiske liye lagbhag ₹20,000 crore ka investment expect hai. Iske liye company ne October 2025 mein ₹1,100 crore ka QIP bhi raise kiya tha. India mein data center market 2026 tak 2 GW se bhi cross kar sakta hai, jo abhi sirf 0.9 GW hai 2023 mein. Company ke paas MeitY ke saath sovereign cloud provider ki empanelment bhi hai, aur Andhra Pradesh mein 50 MW extra capacity ka MoU bhi hai.
FY26 Results: Paise Toh Kamaye, Par Price Ki Charcha?
FY26 mein company ke total assets ₹5,590.55 crore ho gaye, jo FY25 ke ₹4,346.27 crore se zyada hain. Cash reserves bhi ₹806.90 crore hai. Net profit 30.81% badhkar ₹557.02 crore hua aur revenue ₹2,511.60 crore raha. Lekin, itne acche numbers ke baad bhi stock price thoda cautious raha, Q4 FY26 results ke baad girne bhi laga tha. Reason? Valuation kaafi high lag raha tha. Market cap ₹17,000-₹20,000 crore ke beech hai, aur P/E ratio 33-45x chal raha hai, jo real estate competitors se kaafi zyada hai. ROE bhi sirf 11.20% ke aas-paas hai, jisse valuation par sawal uth rahe hain.
Competition Aur Execution Ka Mamla
India mein data center market mein takkar zabardast hai. Google, Microsoft, Reliance, Adani jaise bade players aur NTT, STT GDC, Nxtra jaise companies bohot paisa laga rahe hain. Anant Raj ka 357 MW ka target inke saamne chhota lag sakta hai. Company ka cost per MW ₹29–34 crore kam hai, par itna bada target achieve karna mushkil hoga in bade players ke saamne.
Future Ka Rasta
Demerger acche intentions se ho raha hai, par execution ka risk toh hai. Data centers ke liye bohot saara paisa lagta hai aur yeh traditional real estate se alag hai. Anant Raj ka ROE kam hai aur valuation zyada, matlab market inke future growth se bohot zyada expect kar raha hai, jo shayad achieve karna tough ho. Naye leader Anish Sarin aaye hain, jo global view la sakte hain, par company ko dono businesses mein balance banana hoga. FY26 ke liye Re 1 ka final dividend proposal hai, jo confidence dikhata hai, par ultimately demerger ka result hi shareholder returns decide karega.