Anant Raj Shares hit a 52-week high of Rs 244.25 on 16 October after the company initiated two new projects that showed a positive sign of development within the company and resulted in a rise in share value.

The company has commenced its new project, “Anant Raj Centre”, which is located in Mehrauli, New Delhi. The development area of the project is 7,00,000 square feet, which will offer a blend of office space, hospitality, and serviced apartments.

For the construction of this project, the company has acquired all the necessary approvals, including registration from the Real Estate Regulatory Authority, NCT of Delhi. The RERA registration certificate has been approved for this project.

Jai Govinda Ghar Nirman Limited, the company’s wholly-owned step-down subsidiary, has commenced the construction of an affordable housing project, “Anant Raj Aashray-11”, that is located in Electronic Manufacturing Cluster 2 (EMC 2), Tirupati, Andhra Pradesh, which the Andhra Pradesh Industrial Infrastructure Corporation developed.

The project will have 10 lakh square feet of saleable area for the development of affordable housing.

The company has received all the statutory approvals for the commencement of construction and sale of the project, including the registration from the RERA Andhra Pradesh.

At 10:48 am, the shares of Anant Raj were trading at Rs 238.45 or 1.64% above its previous close on NSE.