Anant Raj Limited — Investor Presentation 2024

Apr 26, 2024

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Digitally signed MANOJ by MANOJ KUMAR PAHWA KUMAR Date: 2024.04.26 PAHWA 17:01:34 +05'30'

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ANANT RAJ LIMITED

Q4FY24 Investor Presentation April 2024

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Strong Foundation, Stronger Future.

Anant Raj Limited - Strong Lineage; Bright Future, Promising Prospects

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Group Overview

Established Presence Across 5 States

• Established in 1969, Anant Raj Group commenced its operations.

• Began as preferred contractors for marquee Govt. Projects (Asian Games, Delhi), it is currently a dominant RE developer in NCR.

9.07 msf 9 msf Completed 307 MW RE ongoing & Commercial & Proposed DC upcoming projects Residential Project Capacity

• Diversified pipeline with projects delivered across assets:

His Vision is our Mission

Residential Commercial Integrated Townships Data Centers IT Parks Affordable Housing Hospitality Warehouses Group Housing Commercial Retail

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Ashok Sarin
Founder Chairman
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Strong Executive Management Team

• Presence across ~300 acres in premium localities of Delhi NCR.

• Track record of consistent financial performance, growth and strengthening balance sheet.

• Forayed into high-growth high-yield Data Centre sector establishing tie-ups with key government agencies.

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Ashim Sarin

Amit Sarin Amar Sarin Ashim Sarin Managing Director Chief Executive Officer Chief Operating Officer Exp : 28+ years Exp : 27+ years Exp : 23+ years

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Diversified Business Verticals

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Residential Portfolio Mix (Ongoing & Upcoming) Commercial Portfolio Mix (Ongoing & Upcoming)
Group Villas/Floors/Plots Data Commercial
Housing Centre
3.18 msf 3.33 msf 307 MW 0.59 msf
DDJAY Affordable Retail Hotels
Plots Housing
1.00 msf
1.34 msf 1.22 msf 0.26 msf
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Strong Financial Growth Coupled With Balance Sheet Strengthening

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Post demerger demonstrated strong financial growth along with significant reduction in leverage
Revenue (INR Crores) EBITDA (INR Crores) PAT (INR Crores)
78% CAGR 1,521 89% CAGR 371 189% CAGR 266
1,005 245
151
501 115
55
270 55
11
FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24
Net Debt (INR Crores) Net Debt / EBITDA (x) Net Debt / Equity (x)
1,494 Down 81% 27.2 Strengthening Business 0.60 Declining Leverage
1,146
0.43
988
0.35
10.0
290 4.0 0.08
0.8
FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24
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Q4FY24 Financial Highlights: Achieving Strength and Momentum

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Revenue (INR Crores) EBITDA (INR Crores) PAT (INR Crores)
56% CAGR 453 84
119% CAGR
66% CAGR 115
83
290
49
231
40
119 23
25
8
Q4FY21 Q4FY22 Q4FY23 Q4FY24 Q4FY21 Q4FY22 Q4FY23 Q4FY24 Q4FY21 Q4FY22 Q4FY23 Q4FY24
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Q4FY24 Performance Highlights

Financial Highlights

• Revenue from operations for Q4FY24 stood at INR 453 crores, up 56% YoY.

• EBITDA for Q4FY24 stood at INR 115 crores, up 39% YoY.

• Net profit in Q4FY24 jumps by 71% YoY to INR 84 crores.

o The company has made remarkable strides in debt reduction and anticipates achieving a net debt-free status by the end of the calendar year 2024 , exemplifying diligent financial management and positioning itself for enhanced financial flexibility and future opportunities. Net debt ending Q4FY24 stood at INR 290 crores vs INR 988 crores in Q4FY23.

o Reduced overall borrowing cost below 10% during Q4FY24 demonstrating prudent financial management and enhancing overall profitability.

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Operational Highlights

Launched 'The Estate Residences,' high-rise luxurious residences located in Sector 63A, Gurugram, with a saleable area of 1msf. The project received a superb response owing to high demand and was completely sold .

• Ashok Estates - Successfully sold out a plotted development offering plots of sizes up to 180 square yards, with a total inventory of 320 units.

Birla Navya - Commenced delivery of first phase of 300 units; second phase comprising 168 units to be subsequently delivered in FY25

Data Center Update - Enhanced the scope of offering cloud services in the MoU with TCIL and added an addendum to provide end-to-end services related to Data Center and Cloud services at Manesar; Additionally, commenced Data Center strengthening work in Panchkula for an initial 7MW IT Load.

Achieved a significant milestone by successfully raising INR 500 crores through QIP during the quarter, demonstrating strong investor confidence and financial stability.

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Industry Tailwinds with Cyclical Upswing Poised to Bolster Growth

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Bolstered by enhanced social and lifestyle amenities, increased job prospects, numerous infrastructure initiatives, improved connectivity, and the burgeoning cloud computing sector, the demand is poised to sustain its momentum.

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Delhi NCR residential market (in ‘000 housing units)
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High Rates of Absorption in Golf Course Extn Road (GCER)

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(Thousands) Absorption trends – For projects launched (2019-2023)
3,316
162.3 162.7 159.6 2,896
117.9 High Rates of
60.7 99.8 Absorption
47.4
43.5
38.4 Apartments
32.7 30.3 28.8
24.1 24.2 288 ~99% absorption
17.7
Independent floors
CY2019 CY2020 CY2021 CY2022 YTD 3Q2023 96% absorption
Launches Sales Inventory Group Independent DDJAY
Housing Floors Plots
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Source: Cushman & Wakefield research

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Strategic Priorities – Our Path Ahead

Strong Governance and Delivering Superior Performance Monetizing Land Bank Unlocking Future Development ~INR 15,000crs of revenue potential ~100 acres fully paid freehold land in in next 4 to 5 years from residential Delhi NCR for future residential, sales in Sector 63A, Gurugram warehousing and hospitality project Data Center Expansion Balance Sheet Strengthening Scale up to 307 MW IT Load Data Zero Net Debt company Center within the next 4 to 5 years by December 2024

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Expanding Township
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Potential to acquire incremental 25 acres in next 2 years in Gurugram

Cloud Service Adoption Working towards cloud services which will yield significantly higher rental income

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Data Center Update

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Strong Foundation, Stronger Future.

Data centers – A Multi Year Mega Opportunity

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Rising data consumption coupled with data localization law fueling rapid demand

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Data center capacity in IT MW (FY23-FY26P) Key drivers for growth
1,700 Rising digital
Government backing
adoption and
digital India
e-commerce
initiatives
expansion
780 Transition from 4G to Cloud computing
640 5G boom
190
Artificial Intelligence & Machine Learning
FY18 FY19 FY20 FY21 FY22 FY23 FY24P FY25P FY26P
35% CAGR
30% CAGR
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India is one of the fastest growing Data Center markets in the APAC region and one of the top 15 countries of the world

In August 2023, Parliament approved the Digital Personal Data Protection Bill, which allows sectoral regulators to mandate local data storage in key sectors, encouraging local storage of the data gathered within India

Source: CRISIL Ratings

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Total Capacity

Another 57 MW of IT 50 MW of IT Load Load at Panchkula at Manesar 21 MW 50 MW 107 MW 307 MW Phase 1 Phase 2

• ü Converting existing 5.66 msf commercial property into a 157 MW Data Centre, with another 150 MW expansion planned in Rai and Panchkula; Expected rentals of INR 3,300 crores once the 307 MW is fully operational.

• ü Empaneled as a Business Partner with RailTel Corporation of India Ltd. for DCs and have a strategic alliance partnership with TCIL at Manesar; Additionally, Anant Raj Ltd. is collaborating with TCIL for both cloud and colocation services.

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Ongoing and Upcoming Data Center Projects

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Data Center Project Portfolio

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Anant Raj Tech Park, Manesar

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Anant Raj Tech Park, Panchkula

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Anant Raj Tech Center, Rai

• 3 MW IT load operational; Another 3 MW under development to be completed by April 2024

• Phase 1 : 21MW by Q3 FY25

• Phase 2 : Incremental 29MW by Q4 FY26

• Under Development : 7 MW IT Load on existing structure to be completed by Q3 FY25

• Potential : Available green field area that can be developed into a Tier III Data Center with 50 MW IT Load Capacity

• Potential : 200 MW with 100 MW Tier III Data Center in existing building; additional greenfield expansion of Tier III or IV DC of 100MW IT Load Capacity

• Development Cost : INR 26crs/MW within existing structure

• Rental : 1MW at INR 90 Lakhs/MW/Month

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Operational Data Center Site at Manesar

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Operational Data Center Site at Manesar

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Residential Project Portfolio

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Strong Foundation, Stronger Future.

Residential Projects : Ongoing and Upcoming

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	Projects	Launch Date	Completion Date	Total Saleable Area (msf)
	Sector 63A, Gurugram-Residential (Ongoing):
	Anant Raj Estate – Plots and Villas	Mar-23	Dec-26	0.67
	Ashok Estate	Jul-22	Dec-25	1.34
	Avarna Independent Floors (Also referred as Birla Estates, Birla Navya, Birla Avarna)	Mar-20	Dec-27	1.85
	Anant Raj Estate GH-1, The Estate Residences	Jan-24	Jun-28	1.00
	Sector 63A, Gurugram-Residential (Planned):
	Anant Raj Estate Floors 1	Jun-24	Jun-27	0.40
	Anant Raj Estate Floors 2	Nov-24	Nov-27	0.40
	Anant Raj Estate GH-2	Jul-24	Jun-28	1.09
	Anant Raj Estate GH-3	Jul-25	Jun-29	1.09
	Others–Residential:
	Anant Raj Ashray 2, Tirupati	Nov-23	Jun-27	1.22

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Anant Raj Limited – Ongoing Projects (Residential)

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Residential Projects at Sector 63A, Gurugram

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Avarna Independent Floors

Anant Raj Estates

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Ashok Estates

• Township project comprising Plots/Villas/ Independent Floors and Community sites.

• • Independent Floors - 1[st] Phase completed and handed over; 2[nd] phase construction to commence shortly.

• 2[nd] Phase Revenue Potential : INR 1,500 crores to be realized over the course of next 3-4 years.

• Also known as Birla Navya, 50:50 JV with Birla for development of 764 luxury floors built over 47 Acres launched across 4 phases.

• Phases 1,2 and 3 totalling 554 units are fully sold out; Phase 4 is scheduled for launch in the upcoming quarter.

• ARL share of profit – 50% or INR 1,000 crores across all the 4 phases

• Completed sold out plotted development with sizes up to 180 sq. yards; total inventory of plots 320 units in this project.

• Since its July 2022 launch, the project has seen appreciation by over 60%,; INR 380 crores from sold inventory will be realised in FY25.

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Anant Raj Limited – Ongoing Projects (Residential)

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Recently Launched Residential Projects

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Group Housing – 1 (Estate Residences)

Tirupati Affordable Housing

• Launched in Q4FY24 in Sector 63A with total saleable area of 1 msf and revenue potential of INR 1,810 crores.

• Affordable Housing project located at Tirupati, launched in Nov’ 23, having total available space 1.22 msf

• 248 premium units of 4 and 5 BHK apartments overseeing Aravalli Hills on one side and Gurgaon city on the other side.

• Completion expected by June 2027

• Expected revenue potential of INR 335 crores.

• Fully sold out; average selling price at INR 18,000/sqft.

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Anant Raj Limited – Upcoming Projects (Residential)

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Anant Raj Group Housing Projects at Sector 63A, Gurugram

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Group Housing 2

Group Housing 3

• Total saleable area of ~ 1.1 msf comprising of luxury apartments

• Total saleable area of ~ 1.1 msf comprising of luxury apartments

• Expected revenue of INR 2,100 crores

• Expected revenue of INR 2,500 crores

• To be launched in FY25 and completion expected by June 2028

• To be launched in FY26 and completion expected by June 2029

Further, the Company has fully paid additional land of over 100 acres at prime locations in Delhi NCR for future projects

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Commercial Project Portfolio

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Strong Foundation, Stronger Future.

Commercial Projects : Ongoing and Upcoming

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	Commercial Projects : Ongoing and Upcoming	Commercial Projects : Ongoing and Upcoming	Commercial Projects : Ongoing and Upcoming	Commercial Projects : Ongoing and Upcoming	Commercial Projects : Ongoing and Upcoming
	Commercial Projects
	Projects	Estimated Launch	Estimated Completion	Total Leasable Area (msf)	Leased Area (% of Total Leasable Area)
	Sector 63A, Gurugram - Commercial (Ongoing):
	Ashok Tower	Mar-24	Jun-27	0.16	-
	Others-Commercial:
	Office Building, Sector-44, Gurugram		Completed	0.12	100%
	Tech Park, Panchkula		Completed	0.44	28%
	Others-Hotels and malls:
	Anant Raj Center 1 (Earlier Hotel Bel La Monde), Mehrauli, Delhi	Aug-23	Apr-28	0.56	-
	Anant Raj Center 2 (Earlier Stellar Resort,) NH-8, Delhi	Oct-24	Sep-29	0.70	-
	Joy Square, Sector 63A, Gurugram	Oct-17	Jun-24	0.32	-

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Anant Raj Limited – Ongoing Projects (Commercial)

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Rental Generating Commercial Assets

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Office Building, Sector 44, Gurugram

Anant Raj Tech Park, Manesar

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Anant Raj Tech Park, Panchkula

• LED certified Grade A

• Leasable Area : 0.12 msf

• Fully operational and leased

• Rental Income : INR 1.3 Crores/Month

• Rental Income : ~INR 0.35 Crores/Month from service apartments and IT commercial building

• To be converted into 50MW IT Load data center by FY26; existing 3MW IT Load already operational

• Phase 1 Constructed Area : 0.6 msf

• Rental Income for Phase 1 : INR 0.57 Crores/Month

• Phase 2 : Greenfield expansion of 50MW IT Load data center capacity

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Anant Raj Limited – Ongoing Projects (Commercial)

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Hospitality Projects

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Anant Raj Center 1

Anant Raj Center 2

(Existing - Hotel Bel-La Monde, New Delhi)

(Existing - Hotel Stellar Resorts, New Delhi)

• Operational Leasable area of 0.7 lakh sqft

• Operational hotel with leased area of ~1 lakh sqft

• Additional developable area of 4.90 lakh sqft being developed. Approval for increasing FSI from 0.15 to 1.75 already received

• Additional developable area of 6 lakh sqft to be developed after receipt of approval for increasing FSI from 0.15 to 1.75

• Rental Income : INR 0.47 Crores/Month

• Rental Income : INR 0.77 Crores/Month

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Anant Raj Limited – Ongoing Projects (Commercial)

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Planned Commercial Launches

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Ashok Tower

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Joy Square (Sector 63A, Gurugram)

• Part of our existing project Ashok Estate, comprising commercial shops and offices having total space of 1,60,000 sq. ft.

• Construction of 0.32 msf ongoing for commercial and office spaces

• Target completion by June 2024

• To be developed in 0.80 acres having branded outlets and 2 Screen Multiplex, for catering to the daily needs of people living in the surrounding area.

• Target completion by 2027

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Warehousing Land Reserves : Summary

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Sr. No.	Location	Area (In acres)
1	Essapur, Najafgarh, West Delhi	4.45
2	Mundela Kalan, Najafgarh, West Delhi	15.16
3	Dhansa, Najafgarh, West Delhi	6.59
4	Holambi Khurd, North Delhi	18.72
	Total	44.92

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Head Office

H-65, Connaught Circus, New Delhi -110001

+91 11 43034400, +91 11 41516772

info@anantrajlimited.com www.anantrajlimited.com

+91 11 43582879

For investor related queries, kindly contact:

CIN: L45400HR1985PLC021622

+91 97693 64166

sheetal@goindiaadvisors.com

+91 99718 97739 rajat@goindiaadvisors.com

Disclaimer

This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Anant Raj Limited (the “Company”) and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation is not a complete description of the Company. Certain statements in the presentation contain words or phrases that are forward-looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Any opinion, estimate or projection herein constitutes a judgment as of the date of this presentation, and there can be no assurance that future results or events will be consistent with any such opinion, estimate or projection. All information contained in this presentation has been prepared solely by the Company. No information contained herein has been independently verified by anyone else. No representation or warranty (express or implied) of any nature is made nor is any responsibility or liability of any kind accepted with respect to the truthfulness, completeness or accuracy of any information, projection, representation or warranty (expressed or implied) or omissions in this presentation. Neither the Company nor anyone else accepts any liability whatsoever for any loss, howsoever, arising from any use or reliance on this presentation or its contents or otherwise arising in connection therewith. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about, and observe, any such restrictions.

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