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 ₹ 3,493 Cr.
- Current Price ₹ 118
- High / Low ₹ 200 / 109
- Stock P/E 183
- Book Value ₹ 36.0
- Dividend Yield 0.00 %
- ROCE 2.26 %
- ROE 1.81 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 3.29 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 -8.05% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.342 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 | |
|---|---|---|---|---|---|---|---|
| 137 | 191 | 251 | 369 | 111 | 34 | 330 | |
| 112 | 191 | 435 | 205 | 133 | 167 | 594 | |
| Operating Profit | 25 | -0 | -184 | 164 | -22 | -133 | -264 |
| OPM % | 19% | -0% | -74% | 44% | -20% | -395% | -80% |
| 72 | 30 | 50 | 2 | 4 | 5 | 342 | |
| Interest | 25 | 21 | 86 | 117 | 62 | 106 | 53 |
| Depreciation | 8 | 8 | 9 | 7 | 6 | 9 | 10 |
| Profit before tax | 65 | 1 | -229 | 41 | -86 | -243 | 15 |
| Tax % | 18% | -563% | 1% | 50% | -10% | -5% | -29% |
| 53 | 6 | -233 | 20 | -77 | -231 | 19 | |
| EPS in Rs | 0.21 | -7.89 | 0.69 | -2.61 | -7.84 | 0.65 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | -4% |
| TTM: | 879% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | -5% |
| TTM: | 108% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 17% |
| 1 Year: | -40% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -8% |
| 3 Years: | -8% |
| Last Year: | 2% |
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 | 1,954 | 1,895 | |
| 471 | 521 | 468 | 428 | 796 | 1,217 | 1,643 | |
| Total Liabilities | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,600 |
| 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 | 3,279 | |
| Total Assets | 3,327 | 3,407 | 2,979 | 3,166 | 3,463 | 4,214 | 4,600 |
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 | 43 | 191 | |
| 17 | 23 | 367 | 75 | -39 | -68 | 275 | |
| -143 | -161 | -279 | 96 | -166 | 14 | -436 | |
| Net Cash Flow | -9 | 6 | 7 | 89 | -47 | -11 | 29 |
| Free Cash Flow | 66 | 161 | 280 | -12 | 117 | 6 | 159 |
| CFO/OP | 457% | -63,382% | 38% | -41% | -752% | -46% | -81% |
Ratios
Consolidated Figures in Rs. Crores / 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 | 1,121 | 703 |
| ROCE % | 1% | -5% | 6% | -1% | -5% | 2% |
Insights
In beta| Jul 2021 | Feb 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 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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| Average Realization (Tripundra Project) INR per Sq. Ft. ・Standalone data |
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| TARC Tripundra - % Sold of Total Inventory % of Units Sold ・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
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jul - TARC submitted Regulation 74(5) certificate for quarter ended June 30, 2026.
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Announcement under Regulation 30 (LODR)-Change in Management
9 Jul - TARC appoints Mridul Srivastava CHRO, Ankush Kaul CBO, and Ajay Gupta CDO from July 9 and 16, 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
7 Jul - Q1 FY27 presales rose to ₹602 crore; collections reached ₹305 crore.
- Closure of Trading Window 25 Jun
- Announcement under Regulation 30 (LODR)-Newspaper Publication 31 May
Annual reports
Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025TranscriptAI SummaryPPT
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May 2025TranscriptAI SummaryPPT
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Feb 2025TranscriptAI SummaryPPT
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Nov 2024Transcript PPT REC
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Oct 2024TranscriptAI SummaryPPT
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Aug 2024TranscriptAI SummaryPPT
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Jun 2024Transcript PPT
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Feb 2024TranscriptAI SummaryPPT
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Jun 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Dec 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Sep 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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]