TARC Ltd
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]
- Market Cap ₹ 3,425 Cr.
- Current Price ₹ 116
- High / Low ₹ 186 / 109
- Stock P/E
- Book Value ₹ 36.0
- Dividend Yield 0.00 %
- ROCE 5.78 %
- ROE 8.61 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 3.22 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 11.6% over past five years.
- Company has a low return on equity of -6.02% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.124 Cr.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 137 | 191 | 251 | 369 | 111 | 34 | 330 | 471 | |
| 112 | 191 | 435 | 205 | 133 | 167 | 488 | 575 | |
| Operating Profit | 25 | -0 | -184 | 164 | -22 | -133 | -159 | -104 |
| OPM % | 19% | -0.1% | -74% | 44% | -20% | -395% | -48% | -22% |
| 72 | 30 | 50 | 2 | 4 | 5 | 238 | 124 | |
| Interest | 25 | 21 | 86 | 117 | 62 | 106 | 54 | 55 |
| Depreciation | 8 | 8 | 9 | 7 | 6 | 9 | 10 | 10 |
| Profit before tax | 65 | 1 | -229 | 41 | -86 | -243 | 15 | -45 |
| Tax % | 18% | -563% | 1% | 50% | -10% | -5% | -29% | |
| 53 | 6 | -233 | 20 | -77 | -231 | 19 | -13 | |
| EPS in Rs | 0.21 | -7.89 | 0.69 | -2.61 | -7.84 | 0.65 | -0.42 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | -4% |
| TTM: | 365% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 71% |
| 3 Years: | 60% |
| TTM: | 91% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 8% |
| 1 Year: | -21% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -7% |
| 3 Years: | -6% |
| Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 59 | 59 | 59 | 59 | 59 | 59 | 59 |
| Reserves | 1,499 | 1,505 | 1,273 | 1,293 | 1,216 | 984 | 1,003 |
| 1,298 | 1,321 | 1,179 | 1,386 | 1,393 | 1,956 | 1,895 | |
| 471 | 521 | 468 | 428 | 796 | 1,215 | 1,640 | |
| Total Liabilities | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,597 |
| 1,564 | 1,662 | 1,053 | 1,066 | 1,107 | 1,215 | 1,320 | |
| CWIP | 73 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 138 | 138 | 68 | 68 | 68 | 68 | 0 |
| 1,552 | 1,607 | 1,858 | 2,032 | 2,289 | 2,931 | 3,277 | |
| Total Assets | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,597 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 116 | 144 | -81 | -81 | 158 | 42 | 191 | |
| 17 | 23 | 367 | 75 | -39 | -68 | 275 | |
| -143 | -161 | -279 | 96 | -166 | 15 | -436 | |
| Net Cash Flow | -9 | 6 | 7 | 89 | -47 | -11 | 29 |
| Free Cash Flow | 66 | 161 | 280 | -12 | 117 | 5 | 159 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 457% | -63,382% | 38% | -41% | -752% | -45% | -135% |
Ratios
Consolidated / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 8 | 32 | 7 | 9 | 20 | 107 | 8 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 8 | 32 | 7 | 9 | 20 | 107 | 8 |
| Working Capital Days | 368 | 263 | -516 | 760 | 1,218 | 1,143 | 703 |
| ROCE % | 1% | -5% | 6% | -1% | -5% | 6% |
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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| Land Bank (fully paid) Acres |
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| Number of Apartments in Under-Development Projects Number |
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| Saleable Area of Under-Development Projects Million Sq. Ft. |
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| TARC Tripundra - % Sold of Total Inventory % of Units Sold ・Standalone data |
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| Average Realization (Tripundra Project) INR per Sq. Ft. ・Standalone data |
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| Collections (from project sales) INR Crore |
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| Pre-sales/Bookings (Residential) INR Crore |
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Extracted by Screener AI
Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Regulation 74(5) certificate for quarter ended September 30, 2026 received from RTA.
- Closure of Trading Window
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
- Shareholder Meeting / Postal Ballot-Outcome of AGM
-
Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Regulations) 2015
- TARC asks physical shareholders to update PAN, KYC and nomination details under SEBI circular.
Annual reports
-
Annual Report 2026
from bse
-
Annual Report 2025
from bse
-
Annual Report 2024
from bse
-
Annual Report 2023
from bse
-
Annual Report 2022
from bse
-
Annual Report 2021
from bse
-
Annual Report 2021
from nse
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]