Anant Raj shares surged 12% in their biggest intraday gain in over a year, fueled by the company's ₹10,000 crore data centre expansion plans and investor optimism about potential government tax incentives for the sector.

Anant Raj, a renowned Delhi-NCR real estate developer, aims to raise up to INR 2,000 crore via a QIP. The funds will fund project expansion and new initiatives in high-demand areas.

In 2024, over 5.3 lakh residences will be completed, a decade-high. The Covid-19 outbreak delayed projects and the government-backed SWAMIH fund revived them, causing this increase. NAREDCO states that almost 4.35 lakh units were constructed in the top seven cities in 2023.