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Anant Raj Ltd.

BSE: 515055 Sector: Infrastructure
BSE LIVE 15:50 | 02 Dec 40.75 0.25






NSE LIVE 15:43 | 02 Dec 40.85 0.20






OPEN 40.25
VOLUME 158629
52-Week high 65.30
52-Week low 27.55
P/E 21.11
Mkt Cap.(Rs cr) 1202.53
Buy Price 0.00
Buy Qty 0.00
Sell Price 40.75
Sell Qty 5743.00
OPEN 40.25
CLOSE 40.50
VOLUME 158629
52-Week high 65.30
52-Week low 27.55
P/E 21.11
Mkt Cap.(Rs cr) 1202.53
Buy Price 0.00
Buy Qty 0.00
Sell Price 40.75
Sell Qty 5743.00

Anant Raj Ltd. (ANANTRAJ) - Chairman Speech

Company chairman speech

Dear Shareholders

It is our pleasure to welcome you to the Annual General Meeting of your Company for theyear 2015-16. We always look forward to reviewing the performance for the previous fiscalyear as well as share our views on the outlook and future plans of your Company.

As you are aware the Indian real estate industry had been facing stiff and strongwinds over the last few years. We can trace this rough weather to the financial crisis of2008 which had a direct and drastic impact on the real estate space. The recent past hasseen concerning overhang of inventory projects slowing down decline in launch of newproject and an overall sense of trepidation and apprehension in the sector. Almost everyplayer big or small fell the impact of these Strong Winds as sales remained subduedcosts increased and margins came under pressure.

However the last year has been a year of revival sector. As the Indian economycontinues to surge ahead there has been a remarkable change in sentiments. Keymacro-economical parameters like inflation and interest rates have been favorable.

Wages are rising. The government’s thrust on the real estate sector with long-terminitiatives like Housing for All by 2022 100 Smart Cities and focus on infrastructure areall expected to boost demand in the coming years. Legislative interventions in the form ofReal Estate (Regulation and Development) Act 2016 as well as clarity on REITs will bringin more structure and transparency in the sector and make it more attractive forinvestors. There has been a flurry of activities in the PE space.

The commercial real estate market has been witnessing strong demand during the year.

We believe these are all positive signs that the real estate sector is poised for aphase of growth.

At Anant Raj Limited this was a year when we continued to focus on our execution.Anant Raj Estate our marquee mega project at Sector 63A in Gurgaon saw work going on infull swing and received the fastest ever certificate of partial completion. We are alsoconsidering launching a commercial project worth about Rs 500 crores at Sector 63A in2016-17. We shall keep you updated on this.

As far as the financial performance of your Company is concerned it was a year of goodall round performance. In line with the industry trend there was a marginal drop inrevenues. The Total Revenue for the year declined by 8.42 per cent to Rs 443.30 crorescompared to Rs 484.08 Crores in the previous year. Profit After Tax (PAT) for the year wasRs 64.18 crores against Rs 142.38 crores in the previous year. What makes this year’sperformance noteworthy is the fact that unlike last year when the sale of land at 4Bhagwan Das Road augmented the financial performance this year we have achieved thisperformance without the sale of any principal asset.

At Anant Raj Limited we are at a good place. Against strong winds in the industry wehave stronger wings that will take us to greater heights in the days to come. Let usbriefly explain this :

We have a land bank of 1038 acres which is amongst the highest in NCR. What makes thisland bank special is the fact that it was acquired at a low cost. It is entirely paid forand is located within 50 km. radius of Delhi

We have a highly balanced portfolio of real estate assets land plots ready-to-leasecommercial properties hotel plots and our township project Anant Raj Estate. What thisdiversified asset portfolio does is gives us a steady cash flow in the form of rentalincome as well as capital value appreciation

Our low-cost land bank gives us massive advantage in the low-cost housing market whichis one of Prime Minister Shri Narendra Modi’s dream projects. At Neemrana inRajasthan we have proven our expertise in low-cost housing by developing and delivering3000 flats

With almost 5.5 million sq.ft. of ready commercial property of which only 30 per centis leased we are poised for a significant upside as the commercial sub-segment has seenhighest traction in the last year

We have filed designs and applications for all our hotel plots where with the new FSIrules we have a potential to develop 7000 rooms

What makes us stand apart is the fact that we are one of the few companies in our spacewho do not need any fresh capital expenditure. All our land bank is fully-paid and all ourcommercial projects are ready. We only need cash-flow for execution which we areconfident to generate from sales.

The outlook for the near and mid-term is promising. The economy is confidently surgingahead; the implementation of the 7th Pay Commission is expected to increase consumerdemand; the regulatory changes and government initiatives are expected to start bearingresults. Normal monsoon this year will also result in an all round boost for the economy.

As we look ahead we see a lot of potential. There is significant value that stands tobe unlocked at Anant Raj Limited in commercial real estate in low-cost housing in hotelplots and at Anant Raj Estate.

The Board of Directors of your Company at their meeting held on July 19 2016 hasapproved the Composite Scheme of Arrangement between Anant Raj Ltd (ARL) Anant RajAgencies Pvt Ltd (ARAPL) Promoter Group Company Tauras Promoters and Developers Pvt Ltd(TPDPL) and Anant Raj Global Ltd (ARGL) and further on July 30 2016 has approved minor inthe said scheme. The proposed Composite Scheme of Arrangement provides for:

i) Demerger of Real Estate Division of Anant Raj Agencies Private Limited(ARAPL/Demerged Company 1/ Amalgamating Company) into Tauras Promoters & DevelopersPrivate Limited (TPDPL/Resulting Company 1) and subsequent amalgamation of Remaining ARAPLwith the Company

ii) Demerger of Project Division of the Company into Anant Raj Global Limited (ARGL/Resulting Company 2) (a WOS of the Company yet to be incorporated) and subsequent listingof ARGL at BSE Limited (BSE) and National Stock Exchange of India Limited (NSE)

The above scheme of arrangement shall be subject to the approval of Stock ExchangesHigh Court (s) other regulatory Authorities Shareholders and Creditors of all theCompanies.

We believe that the restructuring under this scheme would enable business approach withgreater focus and attention for maximization of benefits to all stakeholders andcapitalize on the opportunity for the growth.

Indeed we are set to soar on Stronger Wings.

We thank you for your continued trust and confidence. We would also like to extend ourheartfelt thanks to all our stakeholders : our investors our partners our employees ourcustomers and most of all our shareholders for their faith and support. Thank you verymuch.

Yours sincerely

Ashok Sarin


Anil Sarin

Managing Director

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