Business Standard

Tarc reports strong Q4 biz updates


The real estate developer said that it has reported Rs 1,612 crore sales in Q4 FY24, registering a growth of 600% year on year.
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 firms 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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First Published: Apr 17 2024 | 4:38 PM IST

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