TARC Ltd

₹ 124 0.48%

16 Oct - close price

About

TARC Ltd. (The Anant Raj Corporation) started out as a construction and contracting company and evolved to become one of the largest real estate development companies and land bank holders in the New Delhi Metropolitan Area. The company‘s key developments are across verticals like Residential, Hospitality, Commercial and Retail projects.
The name of the company has been changed from Anant Raj Global Ltd. to TARC Ltd. in April 2021. ^[1]

Key Points

Business Services
The company is engaged in the development of luxurious residential projects in New Delhi and Gurugram. ^[1] TARC is a leading brand in the luxury residential sector. ^[2]

Website BSE NSE

Market Cap ₹ 3,667 Cr.
Current Price ₹ 124
High / Low ₹ 186 / 109
Stock P/E
Book Value ₹ 37.1
Dividend Yield 0.00 %
ROCE -7.27 %
ROE -14.1 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.

Cons

Stock is trading at 3.35 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -27.2% over past five years.
Company has a low return on equity of -6.68% over last 3 years.
Contingent liabilities of Rs.3,131 Cr.
Company has high debtors of 923 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Realty Realty Residential, Commercial Projects

Part of Nifty Total Market BSE 1000 Nifty Smallcap 500 BSE Consumer Discretionary Nifty Microcap 250

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	23	22	6	10	5	1	4	4	0	2	32	2	11
	32	30	15	23	10	10	13	71	130	26	29	16	24
Operating Profit	-9	-8	-9	-13	-5	-9	-9	-67	-130	-25	3	-14	-13
OPM %	-37%	-39%	-149%	-137%	-109%	-1,069%	-198%	-1,843%		-1,387%	11%	-746%	-124%
	31	30	29	26	26	27	18	23	1	3	2	4	2
Interest	21	11	16	10	12	47	17	24	13	11	11	10	9
Depreciation	0	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	1	10	4	1	8	-31	-9	-69	-142	-34	-6	-20	-21
Tax %	26%	-8%	75%	50%	26%	-25%	-28%	18%	-3%	-21%	-126%	-84%	14%
	1	11	1	1	6	-23	-6	-82	-137	-27	2	-3	-24
EPS in Rs	0.04	0.37	0.03	0.02	0.21	-0.78	-0.21	-2.78	-4.66	-0.90	0.05	-0.11	-0.83
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	0	107	175	436	197	60	14	36	46
	0	0	99	164	539	190	100	104	201	95
Operating Profit	0	-0	9	11	-103	7	-39	-90	-165	-48
OPM %			8%	6%	-24%	3.6%	-65%	-661%	-463%	-105%
	0	0	11	5	25	123	117	94	10	10
Interest	0	0	14	8	52	117	58	101	44	41
Depreciation	0	0	2	2	2	2	3	3	3	3
Profit before tax	0	-0	3	5	-132	12	17	-100	-202	-81
Tax %		0%	-65%	7%	11%	-21%	19%	5%	-18%
	0	-0	4	5	-147	14	14	-105	-166	-53
EPS in Rs				0.17	-4.97	0.49	0.46	-3.57	-5.61	-1.79
Dividend Payout %		0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	-27%
3 Years:	-43%
TTM:	422%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	79%

Stock Price CAGR
10 Years:	%
5 Years:	24%
3 Years:	8%
1 Year:	-13%

Return on Equity
10 Years:	%
5 Years:	-6%
3 Years:	-7%
Last Year:	-14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0.05	0.05	59	59	59	59	59	59	59
Reserves	-0	-0	1,421	1,426	1,279	1,294	1,307	1,202	1,036
	0	0	1,069	1,065	861	1,447	1,454	1,182	809
	0	0	357	370	331	166	226	372	732
Total Liabilities	0	0	2,905	2,920	2,531	2,965	3,045	2,815	2,636
	0	0	810	827	26	24	27	26	24
CWIP	0	0	0	0	0	0	0	0	0
Investments	0	0	566	558	558	558	558	547	513
	0	0	1,529	1,535	1,946	2,383	2,460	2,242	2,099
Total Assets	0	0	2,905	2,920	2,531	2,965	3,045	2,815	2,636

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	-0	70	158	-50	-27	-8	257	423
	0	0	56	41	363	-386	105	511	126
	0	0	-132	-196	-307	477	-165	-751	-543
Net Cash Flow	0	-0	-5	3	6	64	-67	18	6
Free Cash Flow	0	-0	73	154	311	-21	-16	255	422
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit		100%	831%	1,444%	37%	-404%	20%	-293%	-247%

Ratios

Standalone / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days		0	28	410	906	2,927	7,539	923
Inventory Days
Days Payable
Cash Conversion Cycle		0	28	410	906	2,927	7,539	923
Working Capital Days		1,079	682	272	2,604	7,613	5,819	5,513
ROCE %	-29%	1%	1%	-3%	5%	3%	0%	-7%

Insights

In beta

Jul 2021

Feb 2023

Mar 2024

Mar 2025

Mar 2026

GDV of Under-Development Residential Projects
INR Crore

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x.xx	x.xx	x.xx	x.xx	x.xx
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Land Bank (fully paid)
Acres

Number of Apartments in Under-Development Projects
Number

Saleable Area of Under-Development Projects
Million Sq. Ft.

TARC Tripundra - % Sold of Total Inventory
% of Units Sold

Average Realization (Tripundra Project)
INR per Sq. Ft.

Collections (from project sales)
INR Crore

Pre-sales/Bookings (Residential)
INR Crore

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	64.96%	64.96%	64.96%	64.96%	64.96%	65.12%	65.12%	65.12%	65.12%	65.12%	65.12%	65.12%
	1.92%	2.40%	2.89%	2.72%	2.35%	2.46%	2.30%	2.00%	1.22%	0.92%	0.99%	1.09%
	0.89%	1.29%	1.95%	3.31%	4.34%	4.89%	5.44%	5.81%	6.31%	6.40%	6.44%	5.93%
	32.22%	31.35%	30.20%	29.01%	28.35%	27.54%	27.14%	27.07%	27.36%	27.56%	27.46%	27.86%
No. of Shareholders	56,710	61,015	60,052	59,935	62,404	62,161	59,880	57,953	56,287	54,264	53,065	53,592

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	65.56%	65.57%	64.96%	64.96%	65.12%	65.12%	65.12%
	5.78%	4.62%	1.37%	2.40%	2.46%	0.92%	1.09%
	0.02%	0.01%	0.02%	1.29%	4.89%	6.40%	5.93%
	28.64%	29.80%	33.65%	31.35%	27.54%	27.56%	27.86%
No. of Shareholders	44,894	60,857	61,463	61,015	62,161	54,264	53,592

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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