Anant Raj down over 4%

The entire realty pack is down in the red today, led by Unitech in the biggies and Anant Raj in the mid cap. The stock is down 4% at Rs.67, dotted with more sellers than buyers. Its lower circuit filter is at Rs.55.85. Volumes are tepid at 79,000 shares in the morning trades.

Apart from the current disdain for the entire realty stocks, this stock is down on the back of bad numbers for Q4FY13. The company posted a net loss of Rs.35 crore for the quarter compared to a net profit of Rs.53 crore in Q3. Lower revenue and very high operating costs, led by ‘other expenses’ which came in at Rs.83 crore pushed the company into the red.

The company ended the year with a consolidated net profit at Rs.106 crore, down 6%.  The company’s debt is around Rs.1100 to Rs.1200 crore and by Diwali this year, it aims to repay Rs.300 crore.