Big bull Rakesh Jhunjhunwala’s portfolio has a multibagger stock that has given stellar returns to its shareholders in the long term. This realty stock is under selloff pressure for the past one week, but it has helped investors grow their money more than two-folds in the past one year.

Ace investor Jhunjhunwala owns 1 crore shares, or 3.39% stake, in the real estate company Anant Raj, as per the latest shareholding pattern available on the BSE. The New Delhi-based realtor is primarily engaged in the development and construction of IT parks, housing societies, shopping malls, warehouses, office complexes.

Shares of Jhunjhunwala-back Anant Raj has surged as much as 178% over the past one year, as compared to 22% growth in the benchmark index BSE Sensex. The share price of real estate company has jumped from ₹24.6 on December 22, 2020, to ₹68.35 per share now. It has delivered a strong return of 155% since the beginning of this year on year-to-date (YTD) basis, thanks to strong earnings despite the business disruption caused by the Covid-19 pandemic.

On Monday, Anant Raj share price declined as much as 4.75% to hit an intraday low of ₹67.05, against the previous close price of ₹70.40 on the BSE. The stock opened higher at ₹71.50, but soon pared gains to touch a day’s low of ₹67.05. The shares were trading 17% lower than its 52-week high of ₹81.45 touched on December 13, 2021. It hit a 52-week low of ₹22.30 per share on December 22, 2020.

Anant Raj has posted stellar performance in the September quarter despite the Covid-19 pandemic. The company’s consolidated net profit jumped 360% to ₹14.14 crore for the second quarter ended September 30, 2021, compared to ₹3.07 crore in the same period last year. The consolidated total income doubled to ₹95.33 crore, from ₹47.65 crore in the prior-year period.

For the half-year ended September 30, 2021, the real estate developer reported a net profit of ₹21.24 crore as against a net loss of ₹4.05 crore during the same period last year. The total income increased by 130% to ₹167.13 crore in H1 FY22, from ₹72.33 crore in H1 FY21.

The board of directors of the company at their meeting held on June 30, 2021, had recommended a final dividend of ₹0.10 per share, i.e. 5% on equity shares of ₹2 each, aggregating to ₹2.95 crore for the financial year ended March 31, 2021. The dividend payment has been approved by shareholders in the 36th annual general meeting held on September 30, 2021.

Earlier this year, the company raised ₹163.42 crore via preferential route. In March 2021, the board of the company had approved preferential issue of 2.90 crore fully convertible warrants of face value of Rs 2 each, at an issue price of ₹50 per warrant. The company intends to use capital proceeds to fund its new vertical of data centers to be set up in its IT parks at Manesar, Panchkula, and Rai in the state of Haryana.

Follow us on Facebook, X, YouTube, Instagram and WhatsApp to never miss an update from Fortune India. To buy a copy, visit Amazon.