investing in real estate
Real estate company Ananth Raj Limited will invest Rs 4,500 crore to build a data center in Andhra Pradesh as part of its expansion plan. The company said in a government document on Saturday that its subsidiary Ananth Raj Cloud Pvt Ltd has signed an MoU with Andhra Pradesh Economic Development Board to build an IT park and new data centers in Andhra Pradesh. It is estimated that 16 thousand people will get jobs from this.
The objective of this agreement is to help in setting up data centers and IT parks in the state over time. Ananth Raj said that ARCPL will invest about Rs 4,500 crore, which will be completed in two parts. This investment is expected to provide direct jobs to about 8,500 people and indirect jobs to 7,500 people. Andhra Pradesh Economic Development Board (APEDB) will provide necessary support to complete this project, which includes coordination and cooperation with the Central Government. The role of APEDB will be limited only to facilitating and promoting investment in the state. This agreement was signed on Friday in the presence of IT, Electronics and Communications Minister of Andhra Pradesh Government, Nara Lokesh.
what does the company do
Anant Raj Limited operates 28 MW IT capacity in Manesar and Panchkula and aims to increase this capacity to 307 MW in Manesar, Panchkula and Rai by 2031-32. In June 2024, Ananth Raj partnered with French IT and telecom company Orange Business to provide cloud services in India. The company says that it is moving towards achieving an installed IT capacity of 117 MW by the financial year 2027-28.
Formed in 1969, the company has so far completed residential and office projects spanning approximately 99.6 lakh square feet and owns approximately 320 acres of debt-free land in Delhi-NCR. In the first half of FY 2025-26, the company reported revenue of Rs 1,223.20 crore and profit after tax of Rs 264.08 crore.