| Planned IT Load | 307 MWTotal Capacity |
|---|---|
| Market Cap | ₹21,912.9 CrRealty Sector |
| P/E TTM | 37.87xSector 34.93x |
| OPM Qtr | 29.04%June 2026 Qtr |
| Order from | Orange Business Services Singapore Pte. Ltd. |
Key highlights
- MoU signed on October 6, 2026, with Orange Business and Haryana Department of Industries & Commerce
- Orange Business to provide technology architecture, AI hardware, and technical expertise
- Collaboration aims to promote Haryana as a global hub for data centres, cloud, and AI infrastructure
- Company reaffirms commitment to 307 MW of IT Load across Manesar, Panchkula, and Rai campuses
- MoU leverages the Government of Haryana dedicated Data Centre Policy 2026 incentives
Strategic Global Marketing for Ashok Cloud
Anant Raj Cloud Singapore and Orange Business Services Singapore have partnered to take Haryana-based cloud services to international markets. Orange Business, which connects 340 million customers globally, will act as a technology partner, providing specialized expertise in cloud architecture and AI infrastructure. The partnership is designed to facilitate the onboarding of overseas customers looking to host data in India, specifically leveraging the Ashok Cloud platform.
This initiative builds on a previous June 2026 commitment where Anant Raj Ltd pledged ₹25,000 crore for data centre development in Haryana under the Make in Haryana program.
Infrastructure Scale and Regional Footprint
- Development of 307 MW of total IT Load capacity across Manesar, Panchkula, and Rai campuses
- Rai campus in Sonipat identified as a major hub with potential capacity of approximately 200 MW
- Integration of AI-ready liquid-cooled data centres following a February 2026 Submer partnership
- Incentives provided under the Haryana Data Centre Policy 2026 to support infrastructure development
- Existing operational facilities at Manesar and Panchkula currently undergoing capacity expansion
Expanding Beyond Real Estate
The partnership marks a significant step in the company's diversification from traditional real estate into high-tech digital infrastructure. To streamline this transition, the board approved a Composite Scheme of Arrangement on July 21, 2026, to demerge the data centre and cloud business into Ashok Cloud Private Limited. This restructuring, which includes a 1:1 share entitlement ratio for existing shareholders, aims to create a dedicated entity for the expanding digital portfolio.
The move aligns with earlier strategic efforts, such as the November 2025 MoU with Andhra Pradesh for a ₹4,500 crore data centre and IT park project.
Management Perspective on Global Expansion
This MoU marks an important step in taking Haryana’s digital infrastructure capabilities to a wider global market. Our focus is not only on building data centre capacity in the state but also on creating an ecosystem that can serve customers beyond India.
| Date | Announcement | Amount |
|---|---|---|
| 01 Jun 2026 | Memorandum of Understanding with Haryana Enterprises Promotion Centre (Government of Haryana) to develop data centre and cloud infrastructureSource: angelone.in | ₹20,000.00 Cr |
| 08 Apr 2026 | Supplementary agreement with Destination Properties Private Limited modifying terms to a 17.69% revenue-sharing model for a Gurugram residential housing projectSource: business-standard.com | – |
| 08 Feb 2026 | Strategic partnership with Submer Technologies to develop AI-ready, liquid-cooled data centres across IndiaSource: NSE filing | – |
| 14 Nov 2025 | Memorandum of Understanding with Andhra Pradesh Economic Development Board (APEDB) to develop data centres and an IT parkSource: fortuneindia.com | ₹4,500.00 Cr |
| 17 Feb 2025 | Agreement with CSC Data Services India Limited to provide and co-promote co-location data centre and cloud servicesSource: angelone.in | – |
What to watch next
- Financial results announcement scheduled for October 28, 2026
- NCLT and regulatory approvals for the demerger of Ashok Cloud Limited
- Execution of the 200 MW IT Load capacity development at the Rai campus
“As a technology partner, we bring expertise in cloud architecture, AI infrastructure and managed digital services to support the development of secure and AI-ready environments.”
“With Ashok Cloud, our expanding data centre footprint and the support of Orange Business, we see a strong opportunity to bring global data workloads to Haryana and strengthen the state’s position in the digital infrastructure landscape.”
| Share price | ₹608.9 |
|---|---|
| Market capitalisation | ₹21,912.90 Cr |
| Revenue (annual) | ₹2,511.60 Cr |
| Net profit (annual) | ₹557.02 Cr |
| Revenue (latest quarter) | ₹631.40 Cr-2.38% vs previous quarter |
| Net profit (latest quarter) | ₹149.64 Cr+2.07% vs previous quarter |
| P/E (TTM) | 37.87×Sector 34.93× |
| Promoter holding | 57.42%+0.01% QoQ |
| FII holding | 10.74%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Anant Raj Limited announcing the execution of a Memorandum of Understanding with Orange Business and the Government of Haryana. Market figures from a third-party data provider.
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