TARC registers presales of Rs 1,165 crore in Q3 FY25

TARC said that it has achieved presales of Rs 1,165 crore and collections of Rs 181 crore in the third quarter of FY2025.

The companys total collections for the first three quarters of the fiscal year is Rs 1,371 crore.

"This robust collection performance further reflects the company's effective sales strategies and strong market demand, TARC said in a statement.

The company attributes this upward momentum to increasing demand in the luxury real estate sector and the successful execution of its business strategies.

Offering more information, TARC stated that it has acquired additional land parcel in Gurugram, further strengthening its portfolio and enhancing its potential Gross Development Value.

The companys multi-screen cinema and entertainment asset at East Delhi has now become operational, it added.

In its outlook, TARC said that the luxury real estate markets in Delhi and Gurugram are well-positioned for high growth. The demand for luxury residences is expected to rise alongside the cities' evolving urban landscapes.

TARC, a leading luxury real estate developer, is focused on delivering high-quality residential projects in Delhi and Gurugram. With a strong financial position and a prime land bank, the company aims to further its expansion in the luxury real estate market.

On a consolidated basis, the company had reported net loss of Rs 67.35 crore in Q2 September 2024 as against net profit of Rs 1.08 crore in Q2 September 2023. Net sales declined 85.50% YoY to Rs 4.31 crore in Q2 September 2024.

The scrip slipped 3.79% to currently trade at Rs 177.85 on the BSE.

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