Anant Raj Ltd

Anant Raj Ltd

Anant Raj Limited (Formerly Arrant Raj Industries Limited) was incorporated on July 30 1985. The Company is primarily engaged in the business of Construction and Development of Residential Commercial Hospitality Affordable Housing IT Parks and Data Centers in North Capital Region (NCR). The Company manufactures ceramic wall and floor tiles in plain colour and decorative types. The manufacturing facilities are located at Rewari in Haryana. In the year 1989 the company commenced design manufacture and sales of ceramic tiles under the brand name Romano.In the year 1997 the company expanded the production capacity from 3500 to 8000 sq mtr per day by adding imported equipment. During the year 2002-03 the company increased the production capacity of Ceramic Tiles by 12000 MT to 36000 MT and they further increased the capacity by 27000 MT during the year 2005-06. Thus the total production capacity has increased to 63000 MT.In the year 2005 the company entered into the new emerging business opportunities in real estate development. In the order to achieve forward integration of ceramic tiles business and economies of scale in their operation enhance shareholders value the company decided to consolidate their construction and development business into Anant Raj Industries Ltd. So group companies carrying on the similar business of construction and development were acquired on three phases.In the first phase five group companies which are engaged in development of Hospitality IT Parks and Service Apartments merged with the company with effect from April 1 2005. The five group companies are Kalinga Meadows Ltd Sarvodya Builders Pvt Ltd B T Estates Pvt Ltd Camation Buildcon Pvt Ltd and elegant Buildtech Pvt Ltd.In the second phase three group companies namely Grand meadows Ltd Papillon Estates Ltd and Roseview Estates Pvt Ltd were amalgamated with the company and the company take over the business of Bhasin Resorts Pvt Ltd effective from April 1 2006.In the third phase twelve group companies namely Anant Raj Export Pvt Ltd Greenwood Promoters Pvt Ltd Jasmine Promoters Pvt Ltd Mayur Buildtech Pvt Ltd Northland Estates Pvt Ltd Parkland Promoters Pvt Ltd Rockfield Buildtech Pvt Ltd Springdales Estates Pvt Ltd Sunrise Buildtech Pvt Ltd Victor Promoters Pvt Ltd West Land Buildtech Pvt Ltd and Anant Raj Agencies Pvt Ltd were merged with the company effective from January 1 2007.The company made a joint venture agreement with several companies. The company signed a joint venture with Althoff Hotels a German company operates Business and Boutique Hotels to run a Boutique Hotel in South Delhi. They made a joint venture agreement with Atkiens Spence to operate the hotel projects at South Delhi and Manesar in Haryana. In this the first hotel namely Romano Retreat was started in April 2008 and other two hotels namely Romani Exotica and Romano Towers will be opened during the financial year 2008-09.The group companies has formalized two joint ventures with GIC a Singapore based investment management firm. One for developing hotels and second for setting up of IT Parks and other Infrastructural projects. The group entered into a joint venture agreement with Sonata Investment of the Reliance group for jointly developing and constructing two hotels and an SEZ project.The company is in the process of setting up ceramic unit in Jahagadia in Gujarat with the investment of Rs 60 crore. The company is in the process of constructing an IT Park at Manesar and Rai in Haryana. Also the company has been granted by the Ministry of Commerce Government of India to the proposal for development of an IT Special Economic Zone (SEZ) of 25 acres land with the expected cost of Rs 1000 crore at Rai in Haryana. In June 2008 Acacia Real Estate Limited a Bahrain based Development Fund has entered into a Joint Venture Agreement with the Company to acquire minority stake in one of their Wholly Owned Subsidiary Anant Raj Projects Pvt Ltd for a sum of Rs. 216.38 crore.The Company completed construction of IT Park at Manesar in 2009. The Company's Subsidiary M/s Anant Raj Projects got into a Joint Venture Agreement with Lalea Trading Limited in respect of development of one of its properties situated at Najafgarh Road New Delhi and resultant Lalea Trading limited acquired 26% stake in the said SPV from the Company at a price costing Rs. 216.32 Crores.During the year 2009 the Company completed projects like Mall at Karol Bagh - 82500 Sq.ft.; IT Park at Manesar - 1800000 Sq.ft. First Phase of Hotel Anant Raj Exotica - 43 Rooms; and First Phase of Hotel Anant Raj Retreat - 55 Rooms.During the year 2010 Phase I of two hotel projects Hotel Grand and Hotel Papilion commenced operations on NH-8 near Delhi airport. Anant Raj Technology Park at Manesar spread over 1.8 mn. sq. ft. commenced operations in 2010. It commenced construction activity for Phase I of the IT Park at Panchkula.During the year 2011 Company launched residential projects such as DEL-37 in Kapashera Madelia in Manesar and Maceo in Gurgaon. The Company through its Subsidiary M/s Anant Raj Projects Limited had constructed and developed a commercial mall Moments at Kirti Nagar in West Delhi having leasable area 6 lac Sq.Ft. which was completed and operational in 2011. The hospitality project 'Hotel Tricolor' was completed.The Company in 2012 had reorganized its business by merging the group companies carrying on construction and development business with itself. The Company evolved from tile manufacturing company having main focus on Construction & Development. The Tile Manufacturing since then was discontinued and the Company engaged in developing Residential Projects IT Parks SEZ Commercial and & Hospitality Projects. During the year 2012 Company's one more hospitality project Hotel Tricolor now known as Regenta Hotel and Convention Centre became operational and resultant the hotel was let out to Royal Orchid Hotels Limited. Residential projects like Anant Raj Aashray Anant Raj Estates Plotted Development Independent Floors and Villas were launched during 2012. The name of Company was changed from Anant Raj Industries Ltd. to Anant Raj Limited w.e.f. October 29th 2012. The Company completed 1st Phase of IT SEZ Project at Rai Sonepat having 2.1 mn.sq.ft over 25 acres of land.During the year 2014 Company completed its low cost housing project - Anant Raj Aashray at Neemrana Rajasthan with 2580 units. It completed Phase 1 of IT Park Project at Panchkula in Haryana through which many offices started functioning. The residential projects MACEO at Sector-91 was completed during 2016. During the year 2017-18 the Company had acquired 26% of its holding in Anant Raj Projects Limited from its Joint Venture Partner Leela Trading Company. Apart from this Company also acquired the 15% of equity in Park View Promoters Private Limited and 20% of equityin Park Land Developers Private Limited and High Land Meadows Private Limited. Hence after acquisition of equity share these companies became wholly owned Subsidiaries of Anant Raj Limited.During 2018-19 the Company acquired 100% of equity in Travel Mate India Private Limited. After acquisition of equity shares TravelMate India Private Limited became wholly owned Subsidiary of the Company. Further the Anant Raj Housing Limited a wholly ownedsubsidiary of Company incorporated a wholly owned subsidiary Jai Govinda Ghar Nirman Limited and Anant Raj Projects Limiteda wholly owned subsidiary of Anant Raj Limited acquired 100% of equity in Moon Shine Entertainment Private Limited. Jai Govinda Ghar Nirman Limited and Moon Shine Entertainment Private Limited therefore became step down subsidiaries of the Company. Artistaan Private Limited Redsea Realty Private Limited and Aakashganga Realty Private Limited ceased to be subsidiaries of the Company in 2018-19.The Board of Directors of the Company in their meeting held on August 29 2018 had approved the Draft Composite Scheme of Arrangement for Amalgamation and Demerger involving the amalgamation of Anant Raj Agencies Private Limited with and into Anant Raj Limited and immediately thereupon demerger of `Project Division' of the Company into Anant Raj Global Limited which was sanctioned by the Hon'ble NCLT on August 24 2020 effective from August 25 2020. The Appointed Date for the Scheme was September 30 2018. In accordance with the Scheme all assets and liabilities of Amalgamating Company stand transferred to the Company from the Appointed Date September 30 2018. The Company commenced its second project Anant Raj Aashray II in Tirupati Andhra Pradesh for construction & Development of approx. 2000 affordable units in 2022. The Company formed a joint venture LLP called Avarna Projects LLP (JV) with Birla Estates Private Limited for development of a residential complex at Sector 63A Gurugram Haryana effective in 2022.