TARC Ltd Share Price – NSE  /  BSE

Realty, Small Cap

TARC has appointed Arabian Construction Company, headquartered out of Abu Dhabi, UAE, as the principal contractor for its luxury residential developments, TARC Kailasa, located in Central West Delhi & its upcoming development TARC 63A located in Gurugram.

TARC has taken this initiative for a time bound and state of the art construction of its developments through Arabian Construction Company which is known to deliver archetypal skyscrapers across UAE & India including some of the region's most iconic landmarks.

TARC Kailasa is -2.80 million square feet luxury residential development spread across five 40-storey towers. TARC 63A Gurugram is an upcoming project, estimated to have more than 1.80 million square feet of Iuxury residential development spread across five 45-storey towers.

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TARC announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 22 July 2024 .

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TARC will hold a meeting of the Board of Directors of the Company on 28 June 2024.

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The company’s board has given in-principle approval to raise funds from Banks/ NBFC and / or fresh issuance of NCDS on private placement basis not exceeding Rs 750 crore to refinance the existing NCDs of the company.

The board has also accorded its consent to redeem the existing NCDs and given its consent for change in terms and conditions of the NCDs subject to such necessary approvals as may be required in order to reduce borrowing cost.

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 51.73 crore in Q4 FY24 as against a net profit of Rs 1.53 crore posted in Q4 FY23. Net sales tumbled 93% year on year to Rs 9.48 crore in the quarter ended 31 March 2024.

The scrip rose 0.49% to end at Rs 194 on Friday, 14 June 2024. The market is closed today on occasion of Bakrid.

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