TARC Ltd Share Price – NSE  /  BSE

Realty, Small Cap

The company said the growth can be attributed largely to the success of the recently launched project, TARC Kailasa, located in New Delhi.

ln FY24, the company has achieved its highest-ever presales, totaling to Rs 1,612 crore, recording 200% growth compared to the previous fiscal year, underlining the firm’s strong market presence and customer trust.

Additionally, TARC achieved its highest annual collection to date, reaching Rs 415 crore in FY24.

Amar Sarin, CEO & MD of TARC, said, “He emphasized TARC Kailasa's role in strengthening the company's brand positioning and expressed confidence in surpassing the presales forecast of Rs 5,000 crore for FY2024-25.”

TARC is engaged in carrying business of construction and development of residential projects, commercial projects, township projects, malls etc. in the National Capital Region and also derives rental income from investment properties.

The company reported consolidated net loss of Rs 33.49 crore in Q3 FY24 as against a net profit of Rs 1.31 crore posted in Q3 FY23. Net sales tumbled 90.1% year on year to Rs 9.30 cr in the quarter ended 31 December 2023.

The scrip shed 0.78% to end at Rs 153.05 on Tuesday, 16 April 2023. The domestic market is shut today on account of Shri Ram Navami.

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Acuité Ratings said that the rating takes into account the established market position of the company in the Real Estate segment especially in the Delhi NCR region.

The upcoming projects of the company have potential total sales of more than Rs 7,500 crore. The company has completed multiple projects in the past and has 550+ acre of land bank across Delhi and NCR region.

However, the rating is constrained by project risk as two of its project launch i.e. TARC Kailasa and 63A Gurugram got delayed by 3-4 months resulting into a shift in cash flow. However, the risk is mitigated to an extent by launch of its projects namely TARC Kailasa in January 2024 with healthy cashflows expected from the project. The company's sale showed traction as Tower-1 of Kailasa project was completely sold off within 3 month of the project.

The timely commencement and completion of key real estate projects of the company along with steady cash inflows from these projects and timely repayment of debt obligations will continue to remain a key rating sensitivity going ahead.

Delhi-based TARC is engaged in the real estate development business and is primarily pursuing residential projects in the NCR and Delhi region.

The company had reported a consolidated net loss of Rs 33.49 crore in the quarter ended December 2023 as against net profit of Rs 1.31 crore during the previous quarter ended December 2022. Sales declined 90.13% to Rs 9.30 crore in Q3 FY24 over Q3 FY23.

The scrip fell 2.28% to currently trade at Rs 154 on the BSE.

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Net loss of TARC reported to Rs 33.49 crore in the quarter ended December 2023 as against net profit of Rs 1.31 crore during the previous quarter ended December 2022. Sales declined 90.13% to Rs 9.30 crore in the quarter ended December 2023 as against Rs 94.21 crore during the previous quarter ended December 2022.

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TARC will hold a meeting of the Board of Directors of the Company on 12 February 2024.

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