Anarock Property Consultants Limited
DRHP · filed 05 Oct 2026
This is a draft. SEBI has not cleared it, there is no final price yet, and it may never become an IPO.
Anarock Property Consultants Limited is a real estate services provider offering advisory and leasing solutions across various property segments. The IPO comprises a fresh issue of Rs 550 crore and an offer for sale of Rs 450 crore, with 45% of the offer size allocated to OFS. The company reported a revenue of Rs 881.90 crore and a profit of Rs 93.22 crore in the latest fiscal year, with a revenue CAGR of 31.6%. The prospectus highlights high-severity risks related to the cyclicality of the real estate sector, the concentration of revenue in residential and office markets, and the potential impact of delayed transaction milestones on revenue recognition.
What stands out
Risk factor. Our business is exposed to the performance and cyclicality of the real estate sector across residential, office, retail, land, investment banking, industrial and logistics, hospitality and other real estate activities. A broad or asset-class-specific slowdown could adversely affect demand for our se
Risk factor. Our results of operations have historically been, and are likely in the near to medium term to continue to be, disproportionately affected by the performance and cyclicality of the residential real estate market (catered to by our Transaction Advisory segment) and the office, retail, hospitality and
Risk factor. A significant portion of our revenue is linked to successful completion of transactions, achievement of performance thresholds or contractual milestones. Delays in achieving such milestones may move revenue into a subsequent quarter or Fiscal and adversely affect our revenue, cash flows and results
Strong revenue growth. Restated revenue CAGR of 31.6%.
How the offer is structured
Fresh issue
₹550 Cr
New capital into the company
Offer for sale
₹450 Cr
Goes to selling shareholders
OFS share
45%
- Investment in Artificial Intelligence (AI) augmentation and technology for (i) certain business lines of our Company, namely (a) Transaction Advisory (b) Technology Solutions through Anarock Channel Partner (ACP) and (ii) Technology solutions – Anacity through our subsidiary Anarock Group Business Services Private Limited (Anarock Group Business).₹120 Cr
- Strengthening existing businesses and adding new specialised services through talent augmentation to deepen client engagement₹89.5 Cr
- Funding acquisition of remaining equity share capital (other than ESOP Pool) of DSP Design Associates Private Limited, one of our Subsidiaries (DSP Acquisition)₹148 Cr
- Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes
Restated financials
Revenue
₹882 Cr
Latest fiscal year
Profit after tax
₹93.2 Cr
Revenue CAGR
31.6%
Return on equity
14.2%
PAT CAGR
44.0%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹509 Cr | ₹44.9 Cr | ₹400 Cr | |
| 2025 | ₹659 Cr | ₹60.8 Cr | ₹543 Cr | |
| 2026 | ₹882 Cr | ₹93.2 Cr | ₹656 Cr |
Risks the company discloses
Our business is exposed to the performance and cyclicality of the real estate sector across residential, office, retail, land, investment banking, industrial and logistics, hospitality and other real estate activities. A broad or asset-class-specific slowdown could adversely affect demand for our services and our results of operations.(Business Concentration)
Our results of operations have historically been, and are likely in the near to medium term to continue to be, disproportionately affected by the performance and cyclicality of the residential real estate market (catered to by our Transaction Advisory segment) and the office, retail, hospitality and investment-banking activity (catered to by our Leasing and Investment Advisory segment).(Business Concentration)
A significant portion of our revenue is linked to successful completion of transactions, achievement of performance thresholds or contractual milestones. Delays in achieving such milestones may move revenue into a subsequent quarter or Fiscal and adversely affect our revenue, cash flows and results of operations for the relevant period.(Revenue Recognition)
Our business has significant trade receivables and collection cycles may be extended. A portion of overdue receivables may become difficult to collect and may require legal recovery action, settlement or write-off.(Credit Risk)
As at March 31, 2026, March 31, 2025 and March 31, 2024, our trade receivables were ₹4,642.09 million, ₹3,159.99 million and ₹2,771.29 million, respectively. As at March 31, 2026, March 31, 2025 and March 31, 2024, our trade receivables were significant in absolute terms.(Credit Risk)
Our mandates and services agreements typically contain termination provisions, and in certain cases clients may terminate the engagement without cause and on a short notice period. If a mandate is terminated before meeting the contractual milestones on which the fee become payable, we may not be entitled to all or any part of the fees that would otherwise have been payable on completion.(Contractual Risk)
We have written off bad debts and recognised loss allowances on trade receivables during Fiscals 2026, 2025 and 2024.(Credit Risk)
Certain receivables may become aged and may require us to pursue legal or other recovery measures, agree a settlement for an amount lower than the contractual amount or write off the non-recoverable portion.(Credit Risk)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

