Indian Real Estate Developer Anant Raj Spins Off Data Center and Cloud Business into Ashok Cloud

Anant Raj Limited, a prominent Indian real estate and infrastructure developer, is carving out its cloud and data center operations into a separate publicly traded entity. The move, approved by the company’s board on July 21, will split the firm into two focused listed companies, with the newly formed entity dedicated entirely to digital infrastructure and cloud services.

The new company, named Ashok Cloud Private Limited, is positioned as a dedicated digital infrastructure and cloud services provider. It will offer advanced data center colocation, sovereign public cloud, AI-ready cloud infrastructure, and disaster recovery services including cloud migration and data backup, all operating within India. Anant Raj shareholders will receive shares in Ashok Cloud after the spin-out.

Amit Sarin, managing director of Anant Raj, explained that the real estate and infrastructure business and the data center and cloud services business have evolved into two distinct platforms with different growth trajectories and capital needs. "As both businesses enter their next phase of expansion, the proposed composite scheme is designed to provide greater strategic focus, management autonomy, and flexibility to pursue long-term value creation," Sarin said. He added that consolidating the data center and cloud operations currently housed across Anant Raj Ltd and Anant Raj Cloud Pvt Ltd under one roof creates a more focused and scalable platform, well-positioned to attract investments, pursue strategic partnerships, and capitalize on emerging opportunities in the digital infrastructure sector.

Anant Raj first entered the data center business in September 2023, committing to invest Rs 10,000 crore (approximately $1.2 billion) to develop up to 300MW of capacity across India. Under that plan, the company said it would retrofit three technology buildings in Manesar, Rai, and Panchkula—all in the state of Haryana—into data centers. Earlier this year, Anant Raj also signed a Memorandum of Understanding with Submer to develop data centers in India. Meanwhile, the parent company will continue to focus on its core real estate and infrastructure development, including residential townships, luxury housing, commercial developments, and hospitality projects across the country.

This restructuring underscores a broader trend in India’s rapidly expanding digital infrastructure market, where traditional developers are increasingly seeking to unlock value from their technology assets by creating dedicated, investment-ready platforms.