The shares of the leading real estate developer hit a 5 percent upper circuit of Rs 160.70 apiece after the company achieved its highest-ever presales growth of 200 percent YoY.
With a market capitalization of Rs 4,742.20 crore, the shares of Tarc Ltd were trading at Rs 160.70 per share, increasing around 5 percent as compared to the previous closing of Rs 153.05 apiece.
According to the BSE Filing, Tarc Ltd has recorded its greatest presales ever, reaching an astonishing Rs 1,612 crore. This figure marks a spectacular 200% increase over the previous fiscal year, demonstrating the company’s strong market presence and consumer confidence. Furthermore, Tarc Limited recorded its greatest yearly collection to date, totaling Rs 415 crore.
Moreover, Tarc Limited achieved extraordinary sales of Rs 1,281 crore during the fourth quarter of FY23-24. The success of TARC Kailasa, a recently launched initiative in New Delhi, has led to a phenomenal rise of over 600% year on year.
Looking into Tarc Ltd’s financials, the revenue decreased by 90 percent, from Rs 94 crore in Q3 FY23 to Rs 9 crore in Q3 FY24. During the same period, net profit decreased by 3400 percent, from a profit of Rs 1 crore to a loss of Rs 33 crore.
The Company has announced the inauguration of its ultra-luxury high-rise residential project Tarc Kailasa in New Delhi. The company’s project includes a total development area of 1.7 million square feet distributed over a 6-acre land block, with 5 high-rise beautiful buildings. The corporation has selected Arabian Construction Corporation as its construction contractor.
The stock has delivered returns of 62.81 percent in the last six months and a multi-bagger return of 233.26 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 3.33 lakh in a year.
TARC Limited is an Indian real estate development business. The company’s primary business is the building of residential developments, hotels, branded and serviced flats, and warehouses. It is involved in the development of several asset types.
Written by:- Abhishek Singh
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